IMF growth upgrade, Fed independence and chip constraints frame holiday news

U.S. markets were closed for Martin Luther King Jr. Day, so QQQ and SPY carried their prior-session reference levels. The IMF raised its 2026 global growth forecast to 3.3%, while a global bond selloff and Japan's 4% yield highlighted rate risk. A Supreme Court case put Federal Reserve independence in focus. Anthropic's reported $25 billion funding round and Micron's warning of a persistent memory shortage kept AI investment and chip supply prominent.