Moe’s Market Memo – January 23, 2026
Weekly data-driven insights on the markets and economy
Mohammad Abouchleih, MBA, CIMA®
Investment Analyst
Corporate homebuying curbed
President Trump signed an executive order on Tuesday restricting large Wall Street firms from buying single‑family homes to help boost affordability and expand homeownership opportunities for families. The order directs federal agencies to issue guidance within 60 days and review institutional investor activity for potential anticompetitive effects.1
Geopolitical tensions test markets
Global investors pulled back from U.S. assets on Tuesday as tensions over Greenland sparked a sharp “sell America” reaction, sending the U.S. dollar toward its biggest drop since April and driving Treasury yields higher. Gold surged to fresh highs as a safe‑haven move, while the Dow fell more than 800 points and the S&P 500 and Nasdaq each dropped more than 2%.2
Tariff costs challenge consumers
Amazon CEO Andy Jassy said on Tuesday that President Trump’s tariffs have begun to “creep” into prices as sellers work through pre‑purchased inventory. With costs rising, some merchants are now passing those increases on to consumers, while Amazon attempts to keep prices low. Jassy added that shoppers remain resilient but are increasingly trading down or delaying higher‑priced purchases.3
Natural gas gains
Natural gas prices jumped about 26% on Tuesday as a blast of Arctic air drove expectations for surging heating demand across much of the U.S. A major winter storm is forecast to sweep from the southern Rockies through the Plains and toward the East Coast by the weekend, adding further pressure to supply. With frigid temperatures gripping large regions and production freeze‑offs possible, analysts warn that volatility in natural gas markets may remain elevated.4
Student loan standstill
Last Friday, the Department of Education delayed wage garnishment and other involuntary collections for defaulted federal student loan borrowers to allow more time for planned repayment reforms. With roughly 9 million borrowers in default, the pause provides temporary relief for financially strained households.5
Shoppers seek savings
Last week, Aldi announced plans to open more than 180 U.S. stores in 2026 as value‑seeking persists across income groups. Discounters like Aldi, Walmart, and Costco continue gaining market share as shoppers lean into private‑label goods and price‑conscious weekly trips. The expansion points to rising competitive pressure in the grocery sector and indicates that many consumers continue to prioritize value despite improving inflation trends.6
[1] Reuters. “Trump signs order to restrict Wall Street firms from buying single-family homes.” CNBC, 20 January 2026, https://www.cnbc.com/2026/01/20/trump-signs-order-to-restrict-wall-street-firms-from-buying-single-family-homes.html. Accessed 21 January 2026.
[2] Harring, Alex. “‘This is sell America’ — U.S. dollar, Treasury prices tumble and gold spikes as globe flees U.S. assets.” CNBC, 20 January 2026, https://www.cnbc.com/2026/01/20/sell-america-trade-dollar-treasury-gold-us-trump-greenland.html. Accessed 21 January 2026.
[3] Palmer, Annie. “Amazon CEO Jassy says Trump’s tariffs have started to ‘creep’ into prices.” CNBC, 20 January 2026, https://www.cnbc.com/2026/01/20/amazon-jassy-trump-tariffs-prices-shoppers.html. Accessed 21 January 2026.
[4] Kimball, Spencer. “Natural gas prices soar as cold snap blasts across the U.S.” CNBC, 20 January 2026, https://www.cnbc.com/2026/01/20/natural-gas-prices-soar-as-cold-snap-blasts-across-the-us-.html. Accessed 21 January 2026.
[5] McNair, Kamaron. “Education Department to delay collections on defaulted student loans.” CNBC, 16 January 2026, https://www.cnbc.com/2026/01/16/student-loan-collections-paused.html. Accessed 21 January 2026.
[6] Repko, Melissa. “Discount grocer Aldi plans to open more than 180 stores in U.S. this year as customers across incomes seek value.” CNBC, 12 January 2026, https://www.cnbc.com/2026/01/12/aldi-open-180-us-stores-2026.html. Accessed 21 January 2026.
This material is for general information and educational purposes only. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed as to accuracy, does not purport to be complete and is not intended to be used as a primary basis for investment decisions.
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