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January 30th - Apple had an exceptionally pleasant Christmas. Unprecedented demand for the latest iPhone drove its core device revenue to a staggering $85.27 billion, a 23% year-over-year surge. CEO Tim Cook stated that a direct side effect of this explosive quarter was that Apple entered the year with "extremely low channel inventory." He said, "Were in catch-up mode to meet extremely high levels of customer demand. Were currently experiencing supply constraints, and its difficult to predict at this stage when supply and demand will reach equilibrium." Apple doesnt design its own memory, instead relying on external suppliers such as SK Hynix, Micron Technology, and Samsung Electronics. While other PC manufacturers like Lenovo and Dell have discussed their own stockpiling efforts, Cook was vague about their prospects, only stating that the shortage had a "minimal" impact on last quarters profits, but a "slightly larger" impact on this quarter. He added that Apple will consider "a range of options to address this issue."The head of the European Stability Mechanism stated that the mechanism can be used to provide defense loans to Eurozone countries.British pound options sentiment has turned bearish within a one-month timeframe.On January 30th, the precious metals market experienced a sudden and dramatic "flash crash" after hitting record highs overnight, with COMEX gold experiencing a single-day swing of up to $500! This extreme volatility triggered market panic that spread rapidly like dominoes across all commodity categories! Both domestic and international base metals suffered heavy losses, with new energy metals experiencing a particularly sharp sell-off, and market risk appetite plummeting! Tin prices led the decline among base metals on January 30th. Tin prices, along with gold and silver, had seen significant gains in January, creating a short-term irrational speculative bubble. Under the negative impact of the precious metals flash crash, funds that had previously entered the market rushed to sell at any cost, directly triggering a pullback from these high levels. Adding to the woes, positive macroeconomic sentiment dissipated, and bearish pressure intensified simultaneously: the US dollar index rebounded during the day on January 30th, coupled with an increased probability of Warsh being elected as the Fed Chairman (who has a long-term hawkish stance), fueling market expectations of a tighter Fed monetary policy and concerns about high interest rates or even further increases, putting pressure on commodities like tin.On January 30th, gold prices plunged more than 7% on Friday, falling below the $5,000 per ounce mark. The markets bets on a stronger dollar due to the upcoming appointment of a new Federal Reserve chairman weighed on gold prices. Other precious metals also fell sharply as profit-taking began. UBS analyst Giovanni Staunovo stated, "I still believe that many factors supporting gold prices remain, but a consolidation is healthy after the strong gains of recent weeks." He added that the nomination of the new Fed chairman is putting immediate pressure on gold prices. Analyst Ross Norman said, "We believe gold prices may test lower levels further, but will then rebound, with an expected average price of $5,375 in 2026 and a high of $6,400 in the fourth quarter." He added, "While a significant portion of silvers recent rally is based on solid fundamentals, there is clearly an overheated speculative element in the market, and this excess is being squeezed out."

Technical Analysis

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