Today (January 14), the US market will witness the collision of three heavyweight economic events, and the release of these data may trigger a chain reaction.

First is the Supreme Court's ruling on the Trump tariffs case. The core dispute in this case revolves around whether the Trump administration can impose so-called "reciprocal tariffs" on all trading partners based on the International Emergency Economic Powers Act. The numbers are critical — tariffs already imposed exceed $130 billion, and a loss could require the US government to refund trillions of dollars. According to betting market data, the probability of Trump winning is only between 28%-32%, reflecting market doubts about the government's legal stance. Even if they lose, the White House has indicated it will pursue other legal avenues (such as provisions targeting specific industries) to achieve similar goals.

Next is the November retail sales data, to be released at 21:30 Beijing time. The previous value was 0.0%, and the market expects a positive growth of 0.4% this time. This indicator is crucial because it directly reflects the activity level of US consumer spending, which contributes the majority to US economic growth.

The Producer Price Index (PPI) will also be released at the same time, providing an intuitive measure of inflationary pressure. The three events combined are enough to stir market sentiment, and the performance of crypto assets will depend on how risk assets interpret these data.