The S&P 500 index has once again reached a new high, with investors seemingly unaffected by the news of the Justice Department's criminal investigation into Federal Reserve Chair Jerome Powell. Bitcoin is consolidating in the 90K~93K range, while MicroStrategy (Strategy) demonstrates diamond-hand confidence by purchasing over 13,627 Bitcoins. JPMorgan's fourth-quarter earnings will be released before the US stock market opens on Tuesday (1/13), kicking off a series of quarterly reports from major financial institutions. The December Consumer Price Index (CPI) will also be announced today.

Greenspan, Bernanke, and Yellen Rally Behind Powell

US stocks faced early pressure as Federal Reserve Chair Jerome Powell confirmed that federal prosecutors have launched a criminal investigation into his testimony before the Senate Banking Committee regarding the Federal Reserve office building renovation project. This move not only caused shocks in the financial markets but also brought the long-standing independence of the Federal Reserve back into the public spotlight.

On Monday, several former Federal Reserve chairs, treasury secretaries, and prominent economists gathered to support Fed Chair Powell. In their statement, they pointed out that this criminal investigation is an unprecedented attempt to undermine the Federal Reserve's independence through prosecutorial attacks.

US Bank Earnings Week Begins

JPMorgan's fourth-quarter earnings will be released before the US stock market opens on Tuesday (1/13), marking the start of quarterly reports from a series of major financial institutions. Other key players, such as Bank of America, Citigroup, and Morgan Stanley, will follow with their reports in the coming days.

US President Trump has called for capping credit card interest rates at 10% for one year, putting pressure on bank stocks.

The December Consumer Price Index (CPI) will also be released on Tuesday. Market expectations are for overall inflation to remain stable, with core CPI potentially seeing a slight increase.

BTC in Consolidation, MicroStrategy Buys More Bitcoin

Bitcoin is consolidating in the 90K~93K range, with MicroStrategy (Strategy) once again showing diamond-hand confidence by acquiring over 13,627 Bitcoins. According to an 8-K filing submitted to the US Securities and Exchange Commission on Monday, Strategy purchased an additional 13,627 Bitcoins between January 5 and January 11 for approximately $1.25 billion, at an average price of $91,519 per Bitcoin. Strategy currently holds 687,410 BTC, valued at about $62.3 billion, with an average cost of $75,353 per Bitcoin and a total cost of approximately $51.8 billion.

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