The Young and the Restless spoilers, January 21: Victor finds Nikki and Jack in a compromising situation

The Young and the Restless spoilers for Wednesday, January 21, 2026, have Victor finding Nikki and Jack in a compromising situation, Sally being blindsided by Billy's decision-making, and Phyllis standing her ground with Cane.

What's next on The Young and the Restless

Victor won't like Jack and Nikki being together on The Young and the Restless | Image: JPI

Victor Newman (Eric Braeden) is nothing if not a man with conviction. He has held his ground against his own family and colleagues who have urged him to drop his feud with Jack Abbott (Peter Bergman). On Wednesday's show, watch for Victor to catch his wife, Nikki (Melody Thomas Scott), and Jack in a compromising situation. Victor doesn't like these two being friends. He doesn't care that Jack risked his own sobriety to help Nikki, who was in crisis.

We can only imagine how Victor will respond when he sees Jack and Nikki together. Will he listen to reason and realize that Nikki and Jack are just friends, or will he deepen his resolve to make Jack Abbott pay?

Sneak attack

Billy and Sally on The Young and the Restless | Image: JPI

Sally Spectra (Courtney Hope) has gone to great lengths to help Billy Abbott (Jason Thompson) move on to a future with both her and Abbott Communications. Alas, one talk with Cane (Billy Flynn) about running Chancellor Industries, and Billy appears to be throwing all that out the window.

On Wednesday's show, watch for Sally to be blindsided by Billy's decision. Is he going to walk away from her and Abbott Communications to take Cane up on his offer? Or will Billy tell Cane that he's changed his priorities and he's going to stay on his current path? If he chooses the former, how can Billy and Sally's relationship stay intact?

The Phyllis mutiny

Phyllis and Cane on The Young and the Restless | Image: CBS

On Wednesday's show, watch for Phyllis (Michelle Stafford) to stand her ground with Cane. Are these two bickering again already? These two are perfectly matched in many ways. Phyllis is attracted to Cane's dark side, and she's helping him to reach what she feels is his full potential as a power broker in Genoa City. Cane has been told in no uncertain terms that Lily (Christel Khalil), his ex, wants nothing to do with him.

But Cane and Phyllis are volatile. They could turn on each other on a dime. What will happen when Phyllis stands her ground with Cane? Will their union be strengthened or weakened? Stay tuned to find out!

Catch all-new episodes of The Young and the Restless weekdays on CBS and Paramount Plus.