New York, Jan 11, 2026, 12:48 EST — Market closed
India is weighing new smartphone security rules that could require makers to share source code with the government and flag major software updates, a potential new headache for Big Tech going into the week. The draft package has drawn quiet opposition from giants including Apple and Samsung, and officials and tech executives are due to meet on Tuesday for more talks, people familiar with the discussions said. (Reuters)
The timing matters because megacap tech shares have been trading like a rates lever. Hot inflation can push bond yields up and hit valuations, while cooler price data tends to do the opposite.
This week brings a tight cluster of catalysts, starting with Tuesday’s U.S. Consumer Price Index (CPI) report — a key gauge of inflation — and the start of fourth-quarter earnings season led by big U.S. banks. Chip demand is another swing factor, with Taiwan Semiconductor Manufacturing due to report on Jan. 15, a read-through for customers such as Apple and Nvidia. (Reuters)
In the last session on Friday, the Nasdaq-100 proxy Invesco QQQ Trust rose about 1.0%. Meta gained 1.1%, Alphabet added 0.9% and Tesla jumped 2.1%, while Nvidia slipped 0.1%; Apple and Microsoft were little changed and Amazon rose 0.4%.
Friday’s bid followed a jobs report that showed nonfarm payrolls rose 50,000 in December while the unemployment rate dipped to 4.4%, with wage growth holding firm. “All roads lead to the unemployment rate … it should douse the Fed’s recent urgency to backstop a weakening labor market,” said Olu Sonola, head of U.S. economic research at Fitch Ratings. (Reuters)
Meta, meanwhile, laid out a different kind of risk management: electricity. The company said it struck 20-year agreements to buy power from three Vistra nuclear plants and will back projects with Oklo and TerraPower to develop small modular reactors — smaller, factory-built nuclear units still years from broad commercial use in the United States. Meta chief global affairs officer Joel Kaplan said the plans would “make Meta one of the most significant corporate purchasers of nuclear energy in American history.” (Reuters)
Amazon took a health-care angle. The company said Amazon Pharmacy now offers Novo Nordisk’s Wegovy weight-loss pill through insurance and a cash-pay option, with eligible commercially insured customers paying $25 for a month’s supply and cash prices starting at $149 a month. Amazon said it would add the pill to pharmacy kiosks in the coming weeks and is working with telehealth partners to widen access. (Reuters)
Regulators stayed busy. The European Commission is looking into whether WhatsApp’s Channels feature should be treated as a “very large” platform under the EU’s Digital Services Act (DSA), a rulebook that puts tougher obligations on firms to tackle illegal and harmful content; breaches can draw fines of up to 6% of global annual revenue. A Commission spokesperson said the regulator was “actively looking into it” and “would indeed designate potentially WhatsApp” for Channels. (Reuters)
Still, the downside case is not hard to map: an upside surprise in inflation, firmer yields and a fast reversal in the trade that has been kindest to long-duration growth shares. “As we’re starting January, the market may be underappreciating some of the events on the horizon that could likely produce higher volatility,” said Michael Arone, chief investment strategist at State Street Investment Management. (Reuters)
Wall Street reopens on Monday, but the next hard catalyst lands Tuesday when the Labor Department releases the December CPI at 8:30 a.m. ET. (Bureau of Labor Statistics)
