MARKET RECAP → Major U.S. indexes pulled back from record highs as the earnings season kicked off. Financials were a drag, notably JPMorgan Chase shares sliding after earnings disappointment, while other sectors showed pockets of strength.

📊 INFLATION HOLDS STEADY → December CPI confirms inflation is moderating from earlier highs but remains above the Fed’s target, reinforcing a cautious policy path while keeping price pressures visible across key spending categories.

🔍 HOW BARRY DILLER SPOTLIGHTS GREAT IDEAS → Reject cynicism, embrace open conflict, and build confidence by doing — that’s how Diller separates good ideas from bad and keeps innovation alive.

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For the week beginning January 12, 2026

📈 Headline CPI stays at 2.7% — U.S. consumer prices rose 2.7% year-over-year in December 2025, unchanged from November and roughly in line with economists’ expectations. On a monthly basis, the Consumer Price Index increased about 0.3%, reflecting persistent but contained inflation pressures.

🍔 Food, shelter and services lead core strength — Core inflation (excluding volatile food and energy) also held firm at around 2.6% annually, with categories like shelter, housing and medical care continuing to contribute upward momentum. Food prices climbed notably, while some energy components — like gasoline — showed mixed movement.

🏦 What it means for policy and markets — While the inflation picture is cooler than peaks earlier in 2025, it remains above the Federal Reserve’s 2% target, supporting expectations that the Fed will hold interest rates steady at its upcoming meeting rather than cutting further immediately. Markets interpreted the data as confirming stability rather than dramatic disinflation.

💡 Cynicism kills creativity, says Diller: Billionaire media executive Barry Diller told CNBC that the biggest mistake leaders make when judging ideas is bringing a cynical mindset to the table. According to Diller, skepticism that dismisses ideas early cuts off innovation before it has a chance to breathe.

🗣️ Creative conflict over quiet consensus: Rather than shying away from disagreement, Diller champions loud, passionate debate among teams. He says “creative conflict,” where colleagues hash out differences openly and argue over ideas until they are genuinely vetted, produces better decisions and stronger concepts.

🔥 Confidence grows by doing: Diller also underscored a broader leadership truth he’s learned over decades: confidence seldom arrives fully formed — it often builds through execution. Jumping in, testing, iterating and refining, he says, beats waiting to feel “ready” before acting.

Uber CEO: ‘If you think you can plan 5 years into the future, you’re kidding yourself’—what to do instead (CNBC)

Bigger tax refunds are coming for 2026 — what it could mean for the economy (CNBC)

JPMorgan Chase says banks could fight Trump credit card rate cap: ‘Everything’s on the table’ (CNBC)

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