Founder Securities: Market pricing suggests the Fed may not cut rates in January, but could begin cutting rates as early as June.

December's non-farm payroll data was mixed, with marginal improvement in the unemployment rate potentially leading the Federal Reserve to remain on hold in January, with a rate cut possibly occurring as early as June. The Supreme Court may declare the tariffs unconstitutional, which would be a short-term positive for US stocks and the dollar, but a negative for US Treasuries. Improved AI prospects and reduced tariff disruptions would boost the market.