Dow Jones Top Financial Services Headlines at 12 AM ET: Fed’s Miran Says Dollar Needs ‘Really Big Move’ to Affect Inflation | Takaichi’s …

Here are the key developments shaping global financial services and markets as of 12 AM ET, spanning central bank commentary, major bank strategies, private equity performance, and shifting investor sentiment from equities to crypto.

Fed’s Miran: Dollar Weakness Not Yet a Policy Driver

Federal Reserve governor Stephen Miran said the U.S. dollar would need to weaken far more than it has so far to meaningfully influence inflation dynamics. He added that recent currency moves have not had material consequences for monetary policy, suggesting the Fed’s stance remains focused on domestic inflation and employment trends rather than exchange-rate fluctuations.

Takaichi’s Win Spurs Japan Rally; Berkshire Stands to Gain

Following Takaichi’s election victory in Japan, equities have climbed about 12% year to date in 2026 as investors respond to expansionary budget signals and a softer yen. The combination has buoyed holdings tied to Japan, with Berkshire Hathaway positioned for a potential billion-dollar windfall as the rally and currency backdrop lift the value of its stakes.

NatWest Scales Up With New Acquisition

NatWest’s latest acquisition significantly expands its footprint, more than doubling assets under management and administration to £127 billion. The deal underscores the bank’s push to grow fee-based businesses and deepen client relationships amid an increasingly competitive U.K. and European banking landscape.

Apollo Eyes New Markets After a Strong Quarter

Apollo reported a 13% rise in adjusted fourth-quarter earnings and raised a record $228 billion of new capital over the year. With fundraising momentum intact, the firm is targeting new markets and strategies, leveraging its scale across credit, insurance, and hybrid solutions to drive the next phase of growth.

UniCredit Boosts Payouts on Profit Strength

Italy’s UniCredit plans to return €50 billion to shareholders over the next five years, reflecting confidence in profit durability and market share gains. The heightened capital return plan signals management’s focus on operational efficiency, disciplined risk-taking, and sustained earnings power.

Goldman Warns CTAs Could Add Pressure if Stocks Slip

Goldman Sachs analysts, led by Gail Hafif, caution that influential commodity trading advisors (CTAs) may accelerate selling in U.S. equities if the S&P 500 declines further. Positioning dynamics could amplify short-term volatility, with systematic strategies poised to cut exposure on additional weakness.

Prediction Markets: A Costly Super Bowl Bet

In the world of prediction markets, trader Liam Kane and others saw the NFL championship as a chance to trade against a wave of newer bettors. The wager backfired for Kane, who lost about $100,000, highlighting how liquidity surges around headline events can punish mispriced conviction trades.

Carlyle’s Profit Rises; Software Exposure Not Central

Carlyle Group posted higher profits, with executives emphasizing that software investments represent only about 6% of assets under management. Management said recent sector turmoil has had minimal impact on the firm’s broader growth engine, which is driven by diversified strategies and fundraising strength.

Dow Hits 50,000, Younger Investors Unmoved

The Dow Jones Industrial Average crossed the 50,000 mark, a milestone for a century-old benchmark. Yet some younger investors remain indifferent, focusing more on thematic strategies, options, and digital assets than on traditional price milestones in legacy indices.

Crypto Winter Deepens Amid Unclear Catalysts

Digital assets have slid into another chill, and even long-standing crypto bulls are struggling to pinpoint the drivers. The downturn, marked by shrinking liquidity and waning risk appetite, has sparked a reset in sentiment as participants reassess narratives around adoption, regulation, and macro sensitivity.

‘Hobbit’-Inspired Erebor Becomes First New Bank Approved Under the New Administration

Erebor, a startup nodding to Tolkien lore, has become the first newly approved bank under the current U.S. administration. Founder Palmer Luckey, a prominent figure in tech and known for his unorthodox style, is spearheading the venture as it moves from concept to chartered institution.