This weekend has been truly tumultuous. Looking at the global financial markets, several major events unfolded almost simultaneously, making it a series of continuous surprises.

First, the US dollar unexpectedly strengthened throughout the entire cycle, followed by news of military actions, and then a sudden shift in the Federal Reserve chairmanship rumors. The Bank of Japan also made a move—announcing a rate hike on the surface, but the actual implementation was less than convincing. It seems like a barrage of negative news, but what was the outcome?

An interesting phenomenon is that the US policy scene appears to be playing two cards at the same time. One is a military response—airstrikes targeting ISIS in Syria, authorized by the local interim government. This action was in response to an attack in mid-December that resulted in US military casualties. The other card is more symbolic—although military presence in the Middle East is decreasing, this move shows that the US still holds the power to speak.

Even more interesting is the market reaction. On Friday, the three major US stock indices all rose sharply, led by the Nasdaq with a 1.31% increase, followed by the S&P 500 with a 0.88% gain. Chinese concept stocks also benefited, with the Golden Dragon Index rising 0.86%. This resilient performance indeed defied many expectations—many institutions had been worried that Japan’s rate hike would trigger a chain reaction, but the market absorbed it.

In short, the logic of this weekend’s market is quite clear: geopolitical risks are being digested, policy signals are being interpreted, and liquidity remains ample. For traders, this is precisely the time to test timing and risk judgment.