Moe’s Market Memo – January 16, 2026
Weekly data-driven insights on the markets and economy
Mohammad Abouchleih, MBA, CIMA®
Investment Analyst
Saks shake-up
Saks Global CEO Richard Baker resigned on Tuesday, less than two weeks into the role, and the company filed for bankruptcy later in the day. Former Neiman Marcus CEO Geoffroy van Raemdonck is set to take over as Saks finalizes $1.75 billion in financing to keep stores open during restructuring. The shake‑up comes amid heavy debt and a rapidly deteriorating luxury retail environment.1
Cooling core costs
Core consumer prices rose 2.6% annually in December, slightly below expectations, offering further evidence that inflation continues to cool. Headline CPI increased 0.3% on the month and 2.7% year over year, in line with forecasts, while shelter and food costs remained key sources of pressure.2
Precious metals momentum
Gold hit a record high on Tuesday after softer inflation data boosted expectations for Fed rate cuts and intensified safe‑haven demand, with silver also reaching a new peak. Despite some profit‑taking, bullion stayed supported by geopolitical tensions and questions over Fed independence. Traders expect continued volatility even as the broader precious metals rally holds.3
Alphabet’s AI-fueled ascent
Alphabet became the fourth company to surpass a $4 trillion market valuation on Monday, boosted by Apple’s decision to use Google’s Gemini models for the next generation of Siri. The milestone caps a strong 2025 in which Alphabet shares surged 65% amid major AI advances, including new custom chips and the launch of Gemini 3. Analysts say Google now holds one of the strongest competitive positions in the AI stack as demand accelerates.4
Meta makes moves
Meta announced on Monday that Dina Powell McCormick will become its new president and vice chairman, expanding her role after briefly serving on the company’s board. A former Goldman Sachs executive and senior U.S. government official, she will help guide Meta’s strategy and global partnerships. The appointment coincided with Meta unveiling “Meta Compute,” a major AI‑infrastructure initiative aimed at dramatically scaling its datacenter capacity.5
Homebuyers gain hope
Mortgage rates fell to their lowest level in nearly three years last Friday after President Trump announced that Fannie Mae and Freddie Mac would purchase $200 billion in mortgage bonds. Analysts expect rates to drop another 25–50 basis points, a shift that lifted homebuilder stocks and may give buyers a psychological boost despite ongoing affordability challenges. The decline could also expand refinancing opportunities for homeowners as rates continue to ease.6
1 Reuters. “Saks Global CEO Richard Baker set to exit, Bloomberg News reports.” Reuters, 13 January 2026, https://www.reuters.com/sustainability/boards-policy-regulation/saks-global-ceo-richard-baker-set-depart-bloomberg-news-reports-2026-01-13/. Accessed 13 January 2026.
2 Cox, Jeff. “December core consumer prices rose at a 2.6% annual rate, less than expected.” CNBC, 13 January 2026, https://www.cnbc.com/2026/01/13/cpi-inflation-report-december-2026.html. Accessed 13 January 2026.
3 Reuters. “Gold hits record as inflation data cements Fed rate cut bets; silver sets new high.” CNBC, 13 January 2026, https://www.cnbc.com/2026/01/13/gold-steadies-below-record-4600-ahead-of-us-inflation-data.html. Accessed 14 January 2026.
4 Elias, Jennifer. “Alphabet hits $4 trillion market capitalization.” CNBC, 12 January 2026, https://www.cnbc.com/2026/01/12/alphabet-4-trillion-market-cap.html. Accessed 13 January 2026.
5 Capoot, Ashley. “Meta names former Trump advisor Dina Powell McCormick as president, vice chair.” CNBC, 12 January 2026, https://www.cnbc.com/2026/01/12/meta-dina-powell-mccormick-trump.html. Accessed 13 January 2026.
6 Olick, Diana. “Mortgage rates drop to lowest level in nearly 3 years as Trump orders buying of $200 billion in mortgage bonds.” CNBC, 9 January 2026, https://www.cnbc.com/2026/01/09/heres-whats-happening-now-with-mortgage-rates-.html. Accessed 13 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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