BIG WARNING: THE NEXT 24 HOURS COULD BE EXTREMELY VOLATILE FOR MARKETS 🚨
Two major US events are hitting almost back-to-back, and both can quickly change how markets price growth, recession risk, and rate cuts.
First: The US Supreme Court tariff ruling.
At 10:00 am ET, the Supreme Court will decide whether Trump tariffs are legal.
Markets are pricing roughly a 77% chance that the Court rules them illegal.
If that happens, the US government may need to refund a large portion of the $600B+ that is already collected from tariffs.
Even if tariffs are struck down, the President still has other legal tools to impose it, but those tools are slower, weaker, and less predictable.
The bigger risk is sentiment, as markets currently treat tariffs as supportive.
Any ruling against the tariffs means the market could start to price in the downside move, which will be bad for the crypto markets too.
Second: US unemployment data at 8:30 am ET.
Markets expect unemployment at 4.5%, down slightly from 4.6%.
If unemployment comes in higher, it strengthens the recession narrative.
If unemployment comes in lower, recession fears ease, but expectations for rate cuts fall even further.
The chance of a January rate cut is already low, around 11%.
Strong jobs data would likely eliminate hopes for a January cut.
So markets face a tough setup:
• Weak data = higher recession fears.
• Strong data = tighter policy for longer.
These two events together make the next 24 hours a high-risk window for markets.
So, be prepared for volatility and manage your positions.
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Stan Larkin, a 25-year-old Michigan resident, lived 555 days without a human heart transplant. He carried a gray backpack with a power source for an artificial heart pumping in his chest.
In November 2014, Larkin's real heart was removed from his body and replaced with a device that allowed him to stay home instead of in a hospital while waiting for a transplant. Human organs grown in pigs may help transplant patients, and the total artificial heart finally arrived in May 2016.
Larkin recovered from his procedure at the University of Michigan Frankel Cardiovascular Center and returned home the following week. In 2016, there were about 4,000 patients nationwide waiting for human heart transplants, and many of these patients have weak hearts that could cause critical organs to fail while they are waiting.
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