Market Summary
Markets trade risk‑off ahead of delayed US employment data: the S&P 500 slipped while the Nasdaq led losses as AI and semiconductor names fell. The Dow held up relative to tech weakness. Volatility ticked higher, crypto slid with bitcoin below $86k, and energy softened as oil reacted to peace‑talk headlines and China stockpiling concerns.
Ford shocks markets with a sweeping retreat from large electric vehicles, taking a multibillion-dollar charge and halting flagship EV production. The moves force a strategic pivot to hybrids and battery-storage, reshaping auto sector outlook.
Figure of the Day
$19.5B – Ford’s EV writedown, the biggest single auto-sector charge this year.
iRobot, maker of Roomba, filed for Chapter 11 and agreed to be taken private by its supplier, marking the end of a consumer-robot era and highlighting pressures from tariffs, competition and weak demand.
Nvidia doubles down on open AI models and infrastructure: it launched the Nemotron 3 family and bolstered HPC tooling by buying Slurm maintainer SchedMD, extending its reach across AI compute stacks.
Bullish
JPMorgan Launches Tokenized Money‑Market Fund – MONY Debuts on Ethereum
JPMorgan seeded a tokenized money‑market fund, MONY, with $100m, marking a mainstream bank push into on‑chain funds and signalling institution‑level adoption of tokenized cash instruments.
More on thedailyupside.com
Risk-off ripples through crypto and AI-related equities as bitcoin and ether retreat and major AI infrastructure names slide, wiping out bullish positions and spurring a rotation to safe-haven assets.
Markets are braced for delayed U.S. employment and CPI releases, with investors wary that noisy data could unsettle policy bets. Stocks slid ahead of the reports as tech weighed on indices.
Bearish
Luminar Files for Chapter 11 – Lidar Maker Collapses
Luminar, a once‑high‑profile lidar supplier to autonomous vehicle programs, filed for bankruptcy after losing key contracts, underscoring the commercial strain in self‑driving supply chains.
More on wsj.com
Diplomats and officials signal progress in talks aimed at security guarantees for Ukraine, but sharp divisions remain over territorial issues — negotiations advance while leaving key gaps unresolved.
Australia reels after a mass shooting at a Hanukkah event on Bondi Beach; authorities investigate motives and the government moves to tighten gun laws amid national shock and security concerns.
Regulatory Impact
EU set to loosen the 2035 combustion‑engine restriction to a 90% emissions cut; the U.S. is weighing marijuana rescheduling via executive order; BOJ plans a gradual sale of its ETF hoard and signals a policy tightening.
Korea Zinc faces investor turmoil after plans for a Tennessee smelter trigger opposition and a Pentagon stake; the row erased value as shareholders worried about dilution and geopolitically sensitive supply chains.
EU policy on combustion-engine vehicles is set for a major retreat as regulators propose loosening the 2035 de facto ban, a move hailed by automakers but criticized by green groups as undermining decarbonization.
Quote
“No bomb does what this is doing.”
— President Donald Trump
Hong Kong’s crackdown deepens as pro‑democracy media tycoon Jimmy Lai is convicted under national security laws, prompting international condemnations and raising fresh concerns about press freedom and business risk in the territory.
President Trump launched multiple high-value suits against the BBC alleging defamation over Jan. 6 coverage, escalating legal fights with major media and creating geopolitical public‑relations reverberations.
Nasdaq is moving to extend trading hours toward near‑round‑the‑clock market access, a shift that would reshape global equity trading and respond to growing demand from international and crypto-aligned investors.
The Bank of Japan plans a long‑running disposal of its massive ETF holdings to avoid market disruption, even as it prepares for its first rate hike in decades — a major pivot for global fixed income and FX markets.
US tariff collection and new trade measures signal an aggressive trade posture from Washington; Mexico’s tariffs illustrate the global reach of the policy template and risks for cross‑border commerce.
Two large deal moves underline active M&A: Apollo is buying French food retailer Prosol, while Holcim expanded in Peru with a majority stake, reflecting private equity and strategic consolidation in consumer and building‑materials sectors.
Big fundraising rounds underline continued heavy backing for AI: Lightspeed posted a record haul to double down on AI startups while Dragoneer’s new VC fund is an outlier amid a slow year for venture.
The Fed has begun reserve management purchases that may matter as much as recent rate cuts, while markets and prediction venues show shifting bets on the next Fed chair — signalling policy and political cross‑currents for 2026.
Oil markets reacted to shifting demand and geopolitics as China built crude stocks while talks over Russia‑Ukraine eased short-term supply fears, putting downward pressure on prices and unsettling energy traders.
