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Keep an eye on credit card stocks, like Capital One and Synchrony Financial. Most are down on the news that President Trump is calling for a 10% one-year cap on credit card interest rates.
“Effective January 20, 2026, I, as President of the United States, am calling for a one-year cap on Credit Card Interest Rates of 10%,” Trump said, as quoted by CNBC. “Please be informed that we will no longer let the American Public be ‘ripped off’ by Credit Card Companies.”
However, that cap does require approval from Congress.
Plus, critics of the idea say such a cap would force banks to pull back on lending, which could lead to consumers losing access to credit and dampen personal spending.
As noted by CNBC, “The move would make large swaths of the credit card industry unprofitable, especially tied to customers with less-than-ideal credit profiles, according to banks and analysts. Rather than offer unprofitable products to consumers, the industry would simply stop offering access to customers with subprime credit, and make other changes in card programs, including scaling back rewards, insiders say.”
If the idea fails to pass, related credit card stocks should regain lost ground.
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Up about $4.40 a share in premarket, Walmart is running on news it will join the NASDAQ 100 on January 20, 2026, which should increase its investor exposure and attract billions in capital inflows from index-tracking funds.
Get set for another week of volatility with substantial uncertainties.
At the moment, the S&P 500 is down 37 points. The SPDR S&P 500 ETF (SPY) is down $3.75. The Dow is down about 350, as the NASDAQ sinks 191.
The big news — the Department of Justice is now opening a criminal investigation into Federal Reserve boss Jerome Powell.
Powell said that federal prosecutors have opened a criminal investigation related to his Senate Banking Committee testimony on the renovation of Fed office buildings.
He also said the prosecution was another attempt by Trump to influence central bank policy.
Powell warned that the investigation signaled a broader battle over the Fed’s independence.
“The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the president,” he added. “This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions — or whether instead monetary policy will be directed by political pressure or intimidation.”
Iran, Greenland, and Minnesota
There’s also speculation that the U.S. wants to send the military to Greenland and Iran, which is melting down with protests. In fact, if we get involved with the Iranian situation, we could see higher oil prices. At the moment, oil is at $58.91, but could gush higher if we get involved.
With the chaos, investors are still flocking to the safe havens of gold, which is up another $101 to $4,610. Silver is up $5.52 to $85.43. At this point, $5,000 gold by next month could be a reality.
Mid-Term Elections Will Add to the Volatility
We also have midterm elections coming up, which always add volatility to the mix.
Markets are always volatile ahead of mid-term elections.
- In 1990, the VIX jumped from 16 to 36
- In 1994, the VIX jumped from 11 to 18
- In 1998, the VIX jumped from 16 to 45
- In 2002, the VIX jumped from 18 to 45
- In 2006 and 2010, the VIX actually fell
- In 2014, the VIX jumped from 12 to 40
- In 2018, the VIX jumped from 12 to 37
- In 2022, the VIX jumped from about 18 to 34.
It could easily spike again ahead of the 2026 midterm elections, especially with all of the uncertainty and chaos we’re watching unfold.
Plus, the 1929 Market Crash Could Happen Again
Investors may want to prepare as if it were 1929, 2000, or even 2008.
That’s because today’s market is eerily similar.
Right now, the Dow Jones, the NASDAQ, and the S&P 500 are at all-time highs. All as investor optimism soars, sending valuations to unbelievable, unjustifiable highs. Even with trade war issues, geopolitical tension, and economic issues, investors have shrugged it all off.
Unfortunately, they’re acting just like investors did before the major crashes of 1929, 2000, and 2008. And unfortunately, it’s only a matter of time before it happens again.
Between 1929 and 1932, the Dow Jones lost 86% of its value.
Unfortunately, many weren’t prepared.
In 2000, dot-com optimism sent the Dow Jones screaming higher to unjustifiable valuations. That fell apart, and saw the Dow wiped out. Again, unfortunately, many weren’t prepared.
In 2008, rampant speculation sent the Dow Jones to a high of 14,038 on the heels of a housing boom. Americans were buying homes they couldn’t afford. Stocks were exploding on economic optimism and unjustifiable valuations.
Then it all fell apart. The Dow Jones would sink to 6,500.
Many weren’t prepared. It’s happening again now. And again, many aren’t prepared.