Markets closed out another strong week and are off to a roaring start this year. The rally in tech stocks has powered the NASDAQ to one of its best Januarys. This bullish enthusiasm is largely being animated by a narrative that a Fed pivot/pause is coming, which was buoyed by the slate of economic data this past week. The Fed, ECB, and Bank of England all announce rate decisions in the upcoming week, and any sign of hawkishness could be a catalyst for volatility. Likewise, Apple, Meta, and other tech firms report earnings next week, as do European banks…disappointment and guidance of future earnings weakness could also dampen investors’ animal spirits. (read on)