Falcon’s View – Week ending 23 January 2026
Performance
• S&P 500: –0,35 %
• Nasdaq 100: +0,3 %
• My portfolio: –0,69 % (USD) / –3,59 % (SEK)
Market pulse
U.S. equities ended the week slightly lower from the Jan. 16 close to the Jan. 23 close, after a volatile sequence dominated by shifting trade headlines: stocks sold off sharply on Jan. 20 after President Trump threatened new tariffs on European allies tied to the Greenland dispute, then rebounded on Jan. 21–22 as he signaled a framework agreement and backed off the tariff timetable, with supportive U.S. data also reinforcing the resilience narrative. By Jan. 23, gains were capped as Intel’s weak outlookreignited tech/AI valuation sensitivity, leaving the S&P 500 roughly flat-to-down for the week and keeping investors focused on how earnings and policy risk will interact going forward.
Crowd vs. price
Despite the market being flat, relative investor interest in many of the names on my list increased.
Holdings & Watchlist Notes
Advanced micro devices (AMD): +12,01%
Advanced Micro Devices (AMD) shares rose 12.0% over the week ending Jan. 23, 2026, increasing from $231.83 (Jan. 16 close) to $259.68 (Jan. 23 close). The move was driven primarily by more bullish sell-side commentary on AI-driven data-center demand, including checks suggesting tight 2026 server CPU supply and potential pricing upside, alongside pre-positioning ahead of AMD’s Feb. 3 earnings report. Sentiment was further supported by Intel’s weak forward guidance and supply constraints, which reinforced investor expectations for AMD to capture incremental share in server CPUs as AI data-center buildouts continue.
• Relative crowd interest: Trend: downwards. Momentum: positive.