MARKET RECAP → The major averages climbed Thursday, bouncing back after two consecutive days of losses as chip and bank stocks rallied.

💥 AMAZON SAYS ITS SAKS BET IS WORTHLESS → Amazon is fighting Saks Global’s bankruptcy financing, arguing its nearly half-billion-dollar equity stake will be wiped out under the proposed plan, underscoring risks in high-profile retail investments.

🇺🇸 U.S. & TAIWAN SEAL MASSIVE CHIP DEAL → A landmark U.S.–Taiwan semiconductor agreement unlocks roughly $500 B in investment and tariff cuts to build advanced chipmaking in America, reinforcing economic competitiveness and supply-chain strategy amid China’s rise.

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For the week beginning January 12, 2026

💼 Amazon blasts Saks bankruptcy plan: Amazon filed an objection in U.S. Bankruptcy Court to Saks Global’s Chapter 11 financing plan, warning that the proposed restructuring would hurt creditors and **render its roughly $475 million investment in the company “presumptively worthless.” The tech and retail giant says the luxury retailer’s strategy has collapsed after years of financial struggle and failed execution.

⚖️ What Amazon objects to: In court filings, Amazon’s legal team argued that the financing arrangement saddles parts of the Saks enterprise with new debt and improperly handles collateral, reducing the recovery value for existing stakeholders that invested in the retailer’s turnaround — including Amazon itself. The objected plan still received initial financing approval from the judge, but legal friction continues.

📉 Broader context for luxury retail: Saks Global — formed after the 2024 acquisition of Neiman Marcus and owner of Saks Fifth Avenue and related luxury banners — has struggled amid debt, inventory issues, and declining sales, ultimately leading to its bankruptcy filing. Amazon’s warning signals how even strategic partnerships with big tech can evaporate when underlying businesses falter.

🤝 A $500 B semiconductor pact: The United States and Taiwan reached a sweeping trade and investment agreement focused on semiconductors, under which Taiwanese companies will commit roughly $250 billion in investments in U.S. chipmaking and Taiwan’s government will back another $250 billion in credit. The deal aims to supercharge domestic manufacturing of advanced chips and make the U.S. a more competitive center of AI semiconductor production.

📉 Tariffs cut to cement cooperation: As part of the agreement, tariffs on Taiwanese goods — including chips and related technology products — will be lowered (from around 20 % to 15 %), aligning with recent U.S. trade deals with other major economies. The tariff reduction is designed to encourage long-term capital deployment and incentivize Taiwanese manufacturers to build and expand facilities on American soil.

🌏 Strategic context and China in view: The pact comes amid rising geopolitical tensions with China, which has its own ambitions in semiconductors and AI. Strengthening U.S.–Taiwan chip production is seen by policymakers as both economic strategy and a security move, reinforcing supply-chain resilience and reducing dependence on China-linked routes into key technology markets.

This pharma stock just got whacked — there’s still a major catalyst ahead (CNBC)

We’re raising our price target on Goldman Sachs after strong but noisy quarter (CNBC)

Taiwan will invest $250 billion in U.S. chipmaking under new trade deal (CNBC)

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