Asian Equities Rise, Yen Weakens Amid Japan Election Buzz; US Markets Mixed on Inflation, Bank Earnings

• Asian equities saw modest gains, with Japan's Nikkei 225 up 0.9% as the yen weakened past 159 per dollar, its lowest since July 2024, fueled by snap election reports.
• South Korean equities also rose, continuing a winning streak into the new year.
• US S&P 500 fell from an all-time high, led by JPMorgan Chase & Co. after missing investment-banking fee guidance, with other major banks' earnings due.
• Traders await a potential US Supreme Court ruling on President Donald Trump’s global tariffs and react to cooler-than-expected December inflation data.
• Brent crude gained on Trump's Iran rhetoric, and silver extended its rally, while attention remains on Japan's Prime Minister Sanae Takaichi's potential snap election.

Why It Matters: Asian markets show strength, particularly Japan, while US faces mixed signals from inflation, bank earnings, and tariff rulings.