Elon Musk’s net worth has, for the first time in history, exceeded $800 billion, reaching $852 billion according to Forbes. The record was made possible by SpaceX’s acquisition of xAI, the developer of the Grok chatbot. The merger created the most valuable private company in the world, valued at $542 billion, of which Musk owns 43% — his most valuable asset.

In addition, the entrepreneur holds 12% of Tesla worth $178 billion and stock options in the company valued at $124 billion. SpaceX reported $8 billion in profit in 2025 on revenue of $15–16 billion. The company had previously planned an IPO in the summer of 2026 to raise up to $50 billion at a $1.5 trillion valuation.

Surpassing the $800+ billion mark cements Musk’s status as the world’s richest person, far ahead of Forbes’ No. 2, Google cofounder Larry Page, whose wealth is estimated at $281 billion. Six months ago, Musk’s assets were valued at under $500 billion, illustrating rapid growth driven by the synergy of his space and AI projects.

Trump Media and Technology Group (TMTG), operator of social network Truth Social, streaming platform Truth+ and fintech brand Truth.Fi, will announce the issuance of a new token named after US President Donald Trump. Holders of at least one share of the company will be eligible to receive tokens. Besides, shareholders are also promised regular rewards throughout the year, perks, discounts on Trump Media products, and access to exclusive events.

TMTG clarified that the digital tokens would not represent an ownership stake in the company or any other entity and would not confer rights to profits from management efforts. The company said it would disclose details on issuance, allocation, and transfer of the tokens sometime later. The initiative underscores the growing integration of the Trump brand with the crypto ecosystem, which has already seen the release of the OFFICIAL TRUMP token.

The OFFICIAL TRUMP token, introduced by Trump ahead of the inauguration, exhibited extreme volatility: it launched at $7, spiked to $34.50 on news about his conversation with Putin, then lost 98% of its value. Despite the token’s collapse, Trump reportedly became more than $5 billion richer on the launch day due to gains in related assets, exceeding the value of his entire real‑estate portfolio. 

Apple has set a historic record in the UЫ smartphone market, increasing its share from 65% to 69% in the fourth quarter of 2025. According to Counterpoint Research, the company maintained its leading position, while Samsung moved into second place, with its market share dropping from 18% to 13%. The US smartphone market grew by 1% over the quarter, underscoring sustained demand for the products of the American tech giant.

Analysts attribute this success to strong sales of the iPhone 16e in the midrange segment and the iPhone 17 in the premium market. Apple models became the best‑selling devices at key carriers, including AT&T, T-Mobile, and Verizon. Counterpoint forecasts that in 2025, Apple will slightly surpass Samsung in global shipments by just one percentage point.

The company is effectively navigating the global memory shortage, unlike budget gadget manufacturers targeting devices priced under $300. Component prices for these lower-cost products are expected to rise by 15% over the next two quarters. At the same time, Apple has raised app prices in Russia and other countries in response to an increase in VAT from 20% to 22%, reflecting its adaptation to local tax changes.

President Donald Trump’s tariffs on imports have triggered a crisis in the US industry, marked by rising costs, competition for raw materials, and layoffs of employees. This conclusion comes from The Wall Street Journal reporter David Uberti, who noted, “The manufacturing boom President Trump promised would usher in a golden age for America is going in reverse.” Since 2023, employment in the manufacturing sector has decreased by 200,000 jobs, leaving fewer Americans working in the sector now than at any time since the pandemic ended.

The journalist cited the example of steel manufacturer Insteel Industries. Due to a shortage of domestic metal, the company has been forced to purchase it from abroad, incurring additional costs from the tariffs imposed by Washington. Company management stated that there are very few products in the lineup that could have benefited from the tariffs. According to the WSJ, the tariffs have only raised manufacturers’ costs rather than enhancing their competitiveness as promised.

Meanwhile, Trump remains confident in the success of his economic policies. Commenting on high levels of public support, he suggested that Americans “like a strong and powerful country” with the best economy in history. However, actual data on job cuts and rising costs contradicts the White House’s official rhetoric.

The US administration plans to eliminate an additional 25% tariff on Indian goods that was originally imposed in August 2025 due to India’s purchases of Russian oil, The Washington Post reported, citing a White House representative. That extra tariff was part of Washington’s pressure on New Delhi to curb its energy cooperation with Moscow.

Previously, Donald Trump announced a trade agreement with India that would reduce the United States’ retaliatory tariffs from 25% to 18%, effectively easing conditions for Indian exports. Until recently, it was uncertain whether the specific “oil” tariffs would be addressed separately. However, sources now indicate that the additional 25% tariff is slated for removal.

According to Trump, Indian Prime Minister Narendra Modi allegedly agreed during a phone call to reduce purchases of Russian oil and partially shift to supplies from the US and potentially Venezuela. However, there has been no official confirmation of such commitments from the Indian side. Eliminating the punitive 25% tariff could mark a step toward normalizing trade relations and indicate that Washington is softening its stance on selecting energy partners. Nevertheless, future tariff policy will depend on actual changes in India’s energy import structure.

US President Donald Trump has decided to create a strategic reserve of critical minerals, allocating an initial budget of $12 billion for this purpose. The new venture, dubbed "Project Vault," will seek to purchase and store minerals essential for automakers, technology companies, and other enterprises. Essentially, it will function as a strategic petroleum reserve, but for mineral resources. The primary goal of the initiative is to shield American producers from supply disruptions and reduce their reliance on Chinese imports, focusing specifically on critical elements such as gallium and cobalt.

The announcement of these plans has elicited a positive reaction in stock markets, with shares of US companies involved in rare earth mining seeing a sharp uptick. This reflects investor expectations of increased domestic demand for mineral resources, bolstered by governmental support.

The United States already has a national reserve of critical minerals to meet the needs of the defense sector. However, it lacks a reserve for civilian use. Project Vault aims to address this gap. The White House administration has already signed cooperation agreements with Australia, Japan, Malaysia, and other countries for the supply and accumulation of critical minerals. In November, meanwhile, China assured Germany that supplies of critical raw materials and rare earth elements would remain stable, highlighting the escalating competition for control over global supply chains of strategic resources.

China’s President Xi Jinping published an article in the Communist Party journal Qiushi calling for the yuan to become a global reserve currency. Xi Jinping stressed that China needs a “powerful currency” capable of wide use in international trade, investment, currency markets, and reserve holdings. These remarks were originally made in 2024 when he addressed senior regional officials, but were only published on January 31, 2026.

Xi Jinping outlined the foundations needed to strengthen the yuan’s position: “a powerful central bank” able to manage monetary policy effectively; globally competitive financial institutions; and international financial centers that can “attract world capital and influence global price formation.” This comprehensive program reflects China’s desire to reshape the global financial system in line with its interests.

The timing of the article is notable: it appeared amid great uncertainty in global markets. Dollar weakness, the impending replacement of the Fed chairman, and geopolitical and trade tensions are prompting central banks to reassess their dependence on dollar assets. Kevin Lamm of Pantheon Macroeconomics says that Xi Jinping’s special focus on the yuan reflects “new breaches in the world order” and suggests that China feels that a change in the global order is more realistic than ever.

However, China’s ambitions encounter hard financial realities. IMF data show that the yuan’s share of global reserves was only 1.93% by Q3 2025, making it the sixth most‑held currency among reserve assets. The US dollar still dominates with about a 57% share, though down from a historic 71% in 2000. The euro accounts for roughly 20%. Moving from its current position to full reserve‑currency status will require not only ambition but fundamental reforms in capital controls and greater openness of China’s financial markets.

Nvidia CEO Jensen Huang stated that the company will continue its substantial investments in OpenAI, refuting reports of dissatisfaction with the ChatGPT developer’s strategy.

Speaking to reporters in Taipei on Saturday, Huang called such assertions “nonsense,” emphasizing that Nvidia still views OpenAI as one of the key players in the technology sector.

“We are going to make a huge investment in OpenAI. I believe in OpenAI, the work that they do is incredible, they are one of the most consequential companies of our time,” Huang declared.

In September, Nvidia announced plans to invest up to $100 billion in OpenAI. The potential deal was intended to provide OpenAI with funding and access to cutting-edge graphic processors necessary to maintain a competitive edge in artificial intelligence.

Last week, however, The Wall Street Journal reported that negotiations had stalled amid internal doubts over the deal’s terms. According to the media outlet, Huang indicated in private conversations with industry participants that previously discussed investment parameters were nonbinding and not final.

The WSJ also reported that Huang expressed concerns about the level of management discipline at OpenAI, as well as growing competition from Google and Anthropic.

In response to these reports, Huang confirmed Nvidia’s participation in the current investment round for OpenAI. He stated that this round is being formed under the leadership of OpenAI CEO Sam Altman, and Nvidia intends to commit a “significant amount” that could represent the company’s largest investment in its history.

That said, Huang clarified that the total investment would not exceed $100 billion. He noted that OpenAI would announce the final size of the round at a later date.

The UK economy is edging closer to recession, which may force the Bank of England to adopt much more aggressive monetary easing.

Analysts note that key economic growth indicators in the UK remain weak. Besides, business activity and labor market data increasingly point to recessionary conditions. Experts say the economy is already showing signs of a substantial slowdown, despite only moderate job cuts so far.

Analysts highlight slowing corporate profit growth, which raises the risk of further layoffs. The UK labor market is deteriorating at an alarming pace and in many respects already looks recessionary. Experts warn that no improvements in macroeconomic data and the labor market could finally drag the economy into recession.

At the same time, inflationary pressure is easing. Wage growth has slowed, and service price dynamics are getting back on track, cementing expectations that core inflation could return to the Bank of England’s 2% target this year.

Against this backdrop, analysts expect the central bank to cut interest rates by roughly 41 basis points in 2026, with cumulative easing possibly reaching 100 basis points in 2025/26, broadly in line with current market pricing.

For investors, analysts consider the UK stock market rather attractive despite domestic economic weakness. Stocks could be supported by lower borrowing costs, a weaker pound sterling, and a high share of international revenue for many companies. Over a short‑term horizon of three to six months, analysts prefer UK equities to those in the eurozone.

They judge the UK market still trades at a discount and does not look overbought. An additional source of support could be the energy sector: analysts note that political jitters in Iran could trigger a major supply shock in the oil market.

Given the significant weight of oil and gas companies in UK stock indices, the UK market has historically outperformed the eurozone during periods of rising oil prices. 

ARK Invest CEO Cathie Wood warned of a bubble risk in the gold market, pointing to the metal’s rapid rally and its outperformance relative to the US money supply.

She noted that the recent spike pushed gold above $5,600 per ounce and drove its aggregate market capitalization close to $40 trillion. The price then fell more than 3% to about $5,230 per ounce.

Wood believes the current rally reflects a disproportionate increase in gold’s value relative to the money supply during periods of macroeconomic instability. She drew attention to the ratio of gold’s market capitalization to the US M2 aggregate, which has approached historical highs.

The last time this measure reached such levels was during the Great Depression in the early 1930s, when the ratio hit 171%. By 2025, it had once again approached comparable territory. A second historical peak — around 125% — occurred in the early 1980s amid high inflation and tight monetary policy.

Cathie Wood stressed that current macroeconomic conditions differ significantly from both the 1930s and the inflationary 1970s. As evidence, she pointed to the 10‑year US Treasury yield, now at about 4.2%, down from peaks of about 5% at the end of 2023.

Market reaction to her comments was mixed. Some participants argue that the rise in gold market quotes is driven by ongoing monetary expansion and geopolitical uncertainty rather than speculative overheating. Others, however, questioned the relevance of M2 as a key metric in an increasingly digitalized financial system. 

The US dollar has fallen to its lowest level since 2022 amid rising doubts among investors about the sustainability of American economic policy. During Donald Trump’s second presidential term, the Bloomberg Dollar Index has decreased by nearly 12%, reflecting a significant outflow of capital from US assets.

A strategy known as “devaluation trading” is gaining traction in markets, where investors are reducing exposure to the dollar and dollar-linked instruments. The main factor exerting pressure is the unpredictability of White House policy. This includes threats of new tariffs, pressure on the Federal Reserve to cut interest rates, and abrupt foreign policy initiatives that affect relations with US allies.

Despite official statements affirming a commitment to a strong dollar, markets increasingly assume that a weaker currency is effectively viewed by the administration as a permissible tool for supporting exports. The president has previously stated that the current exchange rate level is “excellent,” further fueling these expectations.

Amid this backdrop, capital is being redistributed into alternative assets. Emerging markets have had their best start to the year since 2012, while the volume of hedging against further dollar weakness has reached record levels, indicating a rise in defensive strategies among investors.

“The era of automatic dollar accumulation is over,” PIMCO’s Pramol Dhawan said, characterizing current trends as a structural shift in investment regimes.

The dollar’s slide temporarily paused on Friday following reports of Kevin Warsh’s appointment as the next Fed chair. Despite his recent statements aligning closely with the White House’s position, Warsh is viewed by markets as a more conservative figure who is less inclined to aggressive rate cuts compared to other candidates.

Analysts warn that declining confidence among foreign investors poses a risk to the US debt market. With a federal budget deficit of about $1.8 trillion and total government debt approaching $39 trillion, the United States remains heavily dependent on demand for Treasury bonds. Continued outflows of foreign capital might force the government to raise yields, thereby exerting pressure on economic growth.

The Swiss franc, traditionally seen as a safe-haven asset during periods of instability, has reached an 11‑year high against the dollar. As of early 2026, the currency has already appreciated by 3.5%, following a 12.7% surge in 2025. This rally is attributed to unpredictable US trade policy, doubts about the Federal Reserve’s independence, and threats of military conflicts that direct capital into traditional safe havens.

However, a stronger franc is causing challenges for the Swiss economy. As Swiss National Bank Chairman Martin Schlegel acknowledged at the forum in Davos, a rise in the currency complicates the regulator’s operations. Switzerland faces a unique problem: unlike its neighboring countries, which are contending with inflation, Switzerland risks deflation. A strengthening franc lowers import prices and puts pressure on exporters, potentially forcing the central bank to revert to negative interest rates that were lifted in 2022.

Regulators have two intervention tools at their disposal. The first is to return to negative rates, a move that would be economically painful. The second involves currency interventions, although these carry significant political risks. The Trump administration previously imposed tariffs of 39% against Switzerland, accusing the country of currency manipulation. Later, the tariffs were reduced to 15%. Any active currency interventions could provoke renewed pressure from the White House and lead to fresh sanctions, leaving the central bank caught between economic and geopolitical interests.

Analysts are skeptical about the prospects for a weaker franc. Lloyd Harris, head of fixed income at Premier Miton Investors, describes the franc as “the strongest currency on earth” in the long term, supported by the stability of the Swiss economy, gold prices, and its status as a safe haven. This suggests that pressure on the franc will persist, thereby limiting regulators’ options for weakening it.

The global financial system has encountered a new source of risk: the Japanese government bond market, long regarded as a bastion of stability, is rapidly destabilizing. Last week, yields on Japan’s government bonds soared, putting traders around the world on edge. The yield on 40‑year bonds topped the 4% mark for the first time, and 30‑year yields swung by more than a quarter of a percentage point in a single session — a move that used to take months. The market capitalization of Japan’s sovereign yield curve plunged by $41 billion in one day.

The roots of the crisis lie in a mix of structural and political factors. Inflation has surpassed the Bank of Japan’s 2% target for the fourth year running, undermining the case for zero interest rates. At the same time, Prime Minister Sanae Takaichi, preparing for snap elections on February 8, pledges large fiscal spending, inflating an already enormous public debt of 230% of GDP — a level incompatible with long‑term fiscal stability.

Turbulence in Tokyo is producing a ripple effect across global markets. Goldman Sachs estimates that every 10 basis points of higher Japanese yields adds 2–3 bps to rates in the US and other countries. Wild yen moves have sparked market nervousness, including at the Federal Reserve and the US Treasury. So, market participants are braced for currency intervention.

Potential repatriation of Japanese capital poses a grave risk to global markets. Japanese investors hold more than $5 trillion abroad, mainly in foreign government bonds. As domestic yields rise, Japanese debt becomes more attractive: 30‑year JGB yields have already surpassed those of Germany and China. Major players such as Sumitomo Mitsui have announced plans to revise portfolios and shift focus away from foreign bonds back to Japanese ones. A mass capital withdrawal by Japanese investors could crash US and European government bond markets, driving yields higher at a very inopportune point in the economic cycle.

Masayuki Koguchi of Mitsubishi UFJ Asset Management described the situation as “a new era” and warned, “This is only the beginning. There is a chance we will see even stronger shocks.” That assessment signals market participants are ready for lingering high volatility rather than imminent stabilization.

US President Donald Trump commented on the dollar’s slump to a four‑year low, saying the American currency “is doing great” and “it’s fine.” He added that he did not advocate for the dollar’s steady fall in the exchange rate, preferring that the dollar “find its own level.” Trump reminded listeners that he has fiercely argued with China and Japan over their currency devaluations, highlighting an inconsistency in the US stance.

The dollar’s weakness is driven by a mix of factors eroding investor confidence in the US economy: expectations of further Fed rate cuts, uncertainty over tariff policy, political instability, including threats to the Fed’s independence, and a rising budget deficit. These systemic issues have created an environment in which investors are betting against the dollar.

Investors are overwhelmed by pessimism: traders have placed record bets on a dollar collapse, signaling deep disappointment with the greenback’s long‑term outlook. Trump’s stance, accepting the protracted weakness while insisting that the dollar is “in great shape”, underscores a contradiction between official rhetoric and the economic reality that traders and investors have already priced into the market.

Tom Lee, head of BitMine, says that the current weakness in Bitcoin and Ethereum is driven by the surge in gold and silver prices, but he insists the decline is temporary. In his view, the crypto market is still feeling the aftereffects of the large October crash, when many exchanges and market makers were forced to cut risk, putting pressure on liquidity and market quotes.

Tom Lee pointed to several positive shifts. First, traditional finance, tokenization, and blockchain are increasingly seen as a single promising direction. Second, cryptocurrencies are rising without heavy use of leverage, which makes moves slower but more sustainable. In addition, a weaker dollar and expectations for a dovish Federal Reserve create a favorable backdrop for both assets.

The current liquidity outflow from crypto is explained by a FOMO effect — investors fear missing out on gains in precious metals. However, Lee is confident the situation will change soon. Historically, pauses in gold and silver rallies have often triggered powerful surges in Bitcoin and Ethereum. Lee previously forecast that if Bitcoin reaches $250,000, Ether could approach $12,000. The analyst expects the crypto market to recover in the first half of 2026, viewing the current weakness as a temporary phase before a new bullish wave.