Talking about the outlook for this week, everyone is looking for reasons for the decline in cryptocurrency stocks (US stock index futures) today, always hoping to find a definitive and unique explanation. From a personal perspective, the market's performance is due to a combination of multiple factors: 1) TSMC's financial report was very good last week, and we talked about how it could boost short-term sentiment but not change the market's concerns about AI monetization. https://((x.com))/qinbafrank/status/2011705446588162514? s=46&t=k6rimWsEbo2D2tXolYcM-A 2) Last week, the core cpi was lower than expected, but the ppi was higher than expected, the number of initial claims for unemployment benefits was higher than expected, the retail monthly rate was good, and the manufacturing index was higher than expected. The economic data can also partially offset the expected range of interest rate cuts brought about by the favorable cpi. Then last Friday, Trump said that he hoped Hassett would stay in the White House, excluding the most radical candidate for interest rate cuts, which hit the interest rate cut expectations and also brought up the yield of long-term debt. The market naturally also came under pressure when the yield of long-term debt rose. 3) In fact, there is another risk that banks have discussed several times last week: restricting credit card interest rates, big technology companies fully bearing the electricity costs of data centers, and even the cost of building new power plants for the power grid. It actually squeezes the profits of banks and big tech companies. Last week, Bank of America's financial report was also very good, but it still fell nearly 5 points that day. Previously, it was said that Trump's focus this year was on the "affordability" of people's livelihood and the economy, but if the policy measures were too radical, in fact, the short-term market would still be under pressure. Then Trump launched the Greenland tariff war last Saturday night, which was a fuse for the market, triggered everyone's concern, and further increased the uncertainty of the market. This Greenland tariff war is different from the previous one. It is the first time to bind the tariff issue to territorial sovereignty. This is also the first time that we cannot completely copy the pace of TACO before this time. After all, sovereignty is a matter of dignity. It is difficult for leaders of all countries to easily compromise on this issue. In fact, it mainly depends on what Trump wants? https://((x.com))/qinbafrank/status/2012709829442486730? s=46&t=k6rimWsEbo2D2tXolYcM-A Looking at the major events of this week again 1. The Supreme Court has become the protagonist. On Tuesday, the Supreme Court may make a ruling on the Trump tax case on its ruling day (of course, at the moment of the Greenland tariff war, it felt that the Supreme Court was very likely to postpone it again, and the Supreme Court, as a political balancer, would not disturb the market at this critical moment). On Wednesday, the Supreme Court will hear the case of Trump's dismissal of Federal Reserve Governor Cook. This time, it is only an oral debate in court. It is unlikely that the Supreme Court will make a ruling that day 2. At the opening of the Davos Forum this week, Trump will lead a large American delegation to make an appearance and make a speech. Against the backdrop of the warming situation between Venezuela and Iran, and then the increasingly fierce tariff war in Greenland, Trump's geopolitical and trade propositions will directly impact the risk aversion. It is estimated that during Davos, Trump will also meet and negotiate with European leaders on the Greenland issue. When the meeting progresses, it may be more anxious. 3. Then the financial reporting season is considered a vacuum period until this week, and AI technology financial reports will not be released until next week. The most important thing this week is Netflix's financial report. Netflix's financial report was a big hit last quarter and even brought down the Nasdaq on that day. So Netflix's financial report this week is very important, as it serves as a barometer for technology stocks during the earnings season vacuum. Overall, the US stock market has been fluctuating at a high level for almost three months without breaking through, coupled with recent uncertainty, and the market needs to be cautious this week. New gameplay on the US stock market, starting from Bitget: https://www. (bitget.com)/markets/stocks