Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Dollar Steadies Ahead of ECB and BoE Decisions as Markets Turn Risk-Off 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Australia’s December Trade Surplus Expands but Falls Short of Expectations 
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
While California remains solidly Democratic in presidential politics, the state plays a crucial role in the battle for control of the U.S. House of Representatives. Six competitive districts have become key battlegrounds, with five currently held by Republicans. With Democrats aiming to overturn the GOP's 220-212 majority, California is central to the party’s path to regaining control.
Valadao and Salas Square Off in California’s 22nd District
Rudy Salas, a former Democratic state lawmaker, is challenging Republican Rep. David Valadao in California’s 22nd District. Unlike other battleground states, presidential candidates Kamala Harris and Donald Trump have largely avoided campaigning in California, as it’s not critical to the presidential race. This gives congressional candidates like Salas and Valadao room to focus on local issues.
House Control Hinges on Key California Races
Valadao, a five-term incumbent, keeps at arm’s length from Trump. He supports some specific tariffs but questions Trump’s broad tariff proposals. Additionally, Valadao distances himself from the former president's immigration stance, particularly proposals for mass deportations, which do not resonate in his diverse district. Valadao was one of the 10 House Republicans who voted to impeach Trump after the January 6 Capitol attack; he is one of only two who remain in office.
Local Issues Drive California’s Congressional Campaigns
With limited presidential advertising, California’s congressional races are focused on issues like the state gas tax, abortion rights, and local ties to Gov. Gavin Newsom's policies. The absence of a heavy national campaign allows both Valadao and Salas to directly address voter concerns. However, fundraising remains a challenge, with Valadao and Republican groups outspending Salas and Democratic groups significantly.
Labor leader Dolores Huerta, a longtime farmworker advocate and civil rights activist, is actively supporting Salas. She emphasizes the importance of the House races in California, especially as national Democratic efforts remain focused on the presidential contest. “There’s a lot at stake,” Huerta said. “You’re not going to be able to govern unless you get the House and Senate to support your legislation.”
