The Rundown – January 23, 2026

Episode Theme:
A quick, 10-minute breakdown of the biggest movements in the stock market, with sharp focus on international investor trends, Intel’s underwhelming earnings amid the AI chip boom, the finalized fate of TikTok in the US, and notable stock moves, topped off with a striking stat about the college football championship.

1. Global Investors “Quiet Quitting” US Assets

Key Discussion Points:

• Relief in US markets as President Trump backs off threatened tariffs on European countries regarding Greenland; S&P 500 up 0.5%, Nasdaq up nearly 1%.
• The “taco trade” phenomenon: “When markets start tanking, Trump tends to back off on his threats. And when he does, markets go back to rallying.” (Aidadmani, 01:01)
• Gold surges as a preferred safe haven, up 13% YTD and nearing $5,000/oz.
• International investors and central banks are selling US assets and favoring gold and emerging markets:
  • “Bloomberg is describing this as global investors quiet quitting US assets.” (Aidadmani, 01:25)
  • Emerging market stocks up 7% YTD vs. S&P’s ~1%.

Notable Quote:

“Early signs point to gold and international stocks outperforming US stocks again this year.” (Aidadmani, 02:00)

Timestamp: 00:00–02:10

2. Intel Stumbles Amid the AI Boom

Key Discussion Points:

• Intel’s Q1 revenue outlook ($11.7–$12.7B) falls below Wall Street’s expectation ($12.6B).
• High demand for AI data center chips, but Intel is caught unprepared:
  • “Intel admitted it underestimated how strong data center demand would be and that it simply doesn’t have enough chips to meet orders in the current quarter.” (Aidadmani, 03:00)
• Data center business grew 9% YoY, but Intel left “meaningful revenue on the table.”
• Company swung to a loss in Q4 and sees deeper near-term losses as it ramps up production.
• Stock is down 13% on the day, after a major run in prior years fueled by US government, Nvidia, and SoftBank investments.
• Host expresses disbelief at Intel’s poor readiness, given public capex announcements from major customers:

  “Being caught flat footed here is just crazy. What makes this even more frustrating is that Intel is being handed a once in a generation opportunity to be relevant again during the biggest technological buildout we’ve ever seen. And they’re not ready for it.” (Aidadmani, 04:11)

• CEO Lib Bhutan’s response: It’s a “multi-year journey,” but the market may lack patience.

Timestamp: 02:15–05:00

3. TikTok Finalizes US Deal

Key Discussion Points:

• TikTok’s parent ByteDance spins out US operations into a new, US-based entity:
  • Oracle, Silver Lake, and MGX each get a 15% stake; ByteDance retains 19.9% (legal max under 2024 law).
• Oracle will oversee US data and algorithm changes, the key national security concern.
• TikTok US will continue to license the core algorithm from ByteDance, “retrained using American data.”
• Some critics question if the deal truly satisfies the law’s intention.
• President Trump hails the agreement as a win; thanks President Xi for cooperation.
• Host expresses skepticism about who’s actually in control:

  “I’m still not sure who’s really in control of TikTok these days. Is it still ByteDance? Is it Oracle? Maybe the US government? I don’t know.” (Aidadmani, 06:12)

Timestamp: 05:00–06:30

4. Major Stock Movers

Key Discussion Points:

• Natural Gas:
  • Prices and stocks surge 75% in five days amidst an impending winter storm affecting much of the US.
  • “Natural gas is the dominant heating source in the US, accounting for about 47% of residential heating demand.” (Aidadmani, 06:40)
• Capital One:
  • Shares fall >3% on mixed earnings and the acquisition of fintech Brex ($5.15B)—a low valuation compared to Brex’s $12.5B peak.
  • The acquisition aims to boost Capital One’s business payments/expense management offerings.
  • Regulatory risks: President Trump pushes for 10% cap on credit card rates, serious threat to Capital One’s interest-driven business.

    “If this cap actually becomes policy, it would hit Capital One especially hard…” (Aidadmani, 07:30)

Timestamp: 06:30–08:00

5. Notable Quote: Live Sports Keeps Cable TV Alive

• College Football Playoff:
  • Indiana vs. Miami drew 30.1 million viewers, most-watched since 2015, up 36% year-over-year.
  • “This was the most watched US sports telecast outside of the NFL since Game 7 of the 2016 World Series.” (Aidadmani, 08:30)
  • Disney/ESPN took a “victory lap”; recent NFL playoff game saw ESPN’s largest audience ever.
  • Host’s takeaway:

    “Live sports just continue to be the only thing keeping cable TV alive. Like, I only subscribe to YouTube TV to watch sports. If I wasn’t a sports fan, I probably wouldn’t have it. And honestly, my mental health would probably be better as well. I don’t know why I chose to be a sports fan.” (Aidadmani, 09:15)

Timestamp: 08:00–09:40

Episode Highlights & Memorable Moments

• “Being caught flat footed here is just crazy… Intel is being handed a once in a generation opportunity… and they’re not ready for it.” (04:11)
• Oracle, the US government, and ByteDance now all have “influence” over TikTok US, but actual control is unclear. (06:12)
• The winter storm’s impact on natural gas: “I’m just hoping that the power grid holds up here in Texas over the weekend. We’ve had some issues in the past with some previous winter storms.” (06:55)
• On sports and TV: “If I wasn’t a sports fan, I probably wouldn’t have [YouTube TV]. And honestly, my mental health would probably be better as well.” (09:15)

Important Timestamps

• 00:00–02:10: Global investor shift out of US assets
• 02:15–05:00: Intel’s earnings miss and AI chip supply challenges
• 05:00–06:30: TikTok’s US deal finalized and its implications
• 06:30–08:00: Other big movers: Natural gas, Capital One, Brex
• 08:00–09:40: College football viewership, Disney’s sports dominance, and the rise of live sports as last bastion for cable

This episode delivers a fast, insightful round-up of market news, blending sharp analysis and wry asides, perfect for busy investors and market watchers.