Market Summary
Markets tread cautiously ahead of a dense calendar: S&P 500 and Nasdaq oscillate on AI‑stock rotation while the Dow lags. Bond yields eased modestly as traders priced potential Fed easing next year; gold rallied on haven flows. Key catalysts: US jobs and CPI data, China growth prints and central‑bank decisions.
Australia reels after a mass shooting at Bondi Beach that authorities have labeled a terror attack. The government is promising tighter gun rules as public outrage and security concerns spread across the country.
Figure of the Day
10,645 BTC — Size of MicroStrategy’s latest bitcoin purchase (~$980 million).
A deadly campus shooting at Brown University left two students dead and prompted a lengthy lockdown. Authorities detained and later released a person of interest as investigators continue to probe the attack.
Roomba maker iRobot has filed for Chapter 11 as competition and supply pressures mount. The company will be taken private under a restructuring supported by its Chinese supplier and secured lender.
Bullish
J&J wins FDA priority voucher for blood‑cancer drug
The FDA granted a priority review voucher to Johnson & Johnson for its blood‑cancer treatment, accelerating regulatory timelines and boosting the company’s oncology outlook.
More on reuters.com
Nvidia is seeing strong demand in China for its H200 AI processors after regulatory approvals. The company is weighing production increases to meet Chinese customer interest.
Kevin Hassett’s candidacy for Fed chair is drawing resistance and public scrutiny. Debates over Fed independence intensify as allies and critics weigh in on the shortlist.
Bearish
Sanofi stock slumps after two regulatory setbacks
Sanofi warned that a U.S. review delay and a trial setback hit its multiple‑sclerosis program, sending shares lower and widening uncertainty over near‑term pharma revenues.
More on marketwatch.com
Weak November data muddies China’s growth outlook and hit major internet stocks. Slower retail sales and investment fuel market worries about consumption and the property sector.
MicroStrategy and affiliated buyers made near-$1 billion bitcoin purchases, swelling corporate treasuries. The moves underline continued institutional appetite for crypto despite volatile prices.
Regulatory Impact
UK plans to bring crypto into the regulatory perimeter by 2027; Visa launched a stablecoin advisory practice; the U.S. executive order on state AI rules is driving legal challenges; Australia is moving to tighten gun laws after the Bondi attack.
JPMorgan is moving deeper into blockchain with a tokenized money-market fund built on Ethereum. The bank’s MONY vehicle signals growing Wall Street acceptance of onchain fund structures.
Visa is expanding into stablecoin advisory services as banks and businesses explore onchain payments. The move formalizes Visa’s push to guide clients through stablecoin strategy and implementation.
Quote
His opinion matters if it’s good, if it’s based on data.
— Kevin Hassett
The EU stepped up sanctions targeting traders and enablers tied to Russia’s shadow oil market. Brussels singled out individuals and firms accused of propping up revenues for Moscow’s war effort.
Ukraine held fresh talks with U.S. envoys in Berlin and signalled flexibility to advance peace negotiations. Kyiv’s willingness to drop NATO ambitions marks a major diplomatic shift in the search for guarantees.
Brussels and Paris are locked in a standoff over the Mercosur trade pact as political pressure mounts. France is pushing to delay the vote amid farmer unrest while the Commission urges urgency.
China granted the first permits for level‑3 autonomous driving while Tesla advances robotaxi tests in Austin without safety drivers. Regulators and OEMs are racing to commercialize hands‑free mobility.
SpaceX is weighing a blockbuster IPO as Starlink usage and traffic surge. Rapid growth in satellite broadband is fueling talks of an eventual public listing at a multibillion-dollar valuation.
China’s push for rare‑earth steel and weakening investment trends are rippling into global defence supply chains. A decline in industrial investment heightens concerns over component access for systems like the F‑35.
Safe‑haven buying lifted gold as markets price in easier U.S. policy, while Treasuries softened ahead of a busy economic calendar. Investors are watching rate signals, jobs data and China for the next directional cue.
ServiceNow is reported to be in advanced talks for cybersecurity firm Armis, a deal that could top $7 billion. The stock slipped on takeover chatter and a concurrent analyst downgrade.
Hong Kong convicted media tycoon Jimmy Lai in a landmark national security trial, underscoring tighter Beijing controls. The verdict raises fresh questions about rule‑of‑law risks and investor sentiment in the city.
