GoAI Market Wrap - 17th Dec

Stock Market

On Tuesday Eastern Time, the three major U.S. indices closed mixed, with only the Nasdaq eking out a small gain while the S&P 500 fell for the third straight day.

 

(Daily chart of the three major indices, source: TradingView)

 

At the close, the Dow Jones Industrial Average fell 0.62% to 48,114.26, the S&P 500 slipped 0.24% to 6,800.26, and the Nasdaq Composite edged up 0.23% to 23,111.46.

 

Pre-market data showed U.S. November nonfarm payrolls added 64,000 jobs, slightly above the expected 45,000. But October was revised down by 105,000, and the November unemployment rate rose to 4.6% (expected 4.5%), hitting a more than four-year high, sparking concerns about the U.S. economy.

 

After the data, Fed rate cut odds for January stayed unchanged at 24%.  

 

Gina Bolvin, president of Bolvin Wealth Management Group, said: “Today’s numbers paint a picture of the economy catching its breath. Job growth is holding up, but cracks are showing. Consumers are still propping things up, but they can’t accelerate. This mix gives the Fed more room to maneuver without panic and lets investors focus on quality assets, income plays, and long-term themes rather than short-term noise.”

 

Tesla rose over 3% to a record high, pushing its market cap past Broadcom to become the seventh-largest U.S. company.

Global Hotspots

U.S. November unemployment rate hits highest since 2021  

 

U.S. November job growth remained soft, with unemployment rising, signaling continued labor market cooling after October’s unusually weak showing. The Bureau of Labor Statistics reported Tuesday that November nonfarm payrolls added 64,000 jobs, with October down 105,000.

 

The unemployment rate climbed to 4.6% from September’s 4.4%, the highest since 2021. Due to the government shutdown preventing back-data collection, October’s unemployment rate wasn’t released.

 

Trump signs proclamation further restricting foreign nationals’ entry to U.S.  

 

On December 16 local time, the White House said President Trump signed a proclamation imposing further entry restrictions on foreign nationals.  

 

The U.S. fully restricts entry from Burkina Faso, Mali, Niger, South Sudan, Syria, and holders of Palestinian Authority travel documents; full restrictions also apply to Laos and Sierra Leone, previously partial. Partial restrictions cover 15 countries: Angola, Antigua and Barbuda, Benin, Côte d’Ivoire, Dominica, Gabon, Gambia, Malawi, Mauritania, Nigeria, Senegal, Tanzania, Tonga, Zambia, and Zimbabwe. Non-immigrant visa bans are lifted, but Turkmenistan citizens remain barred from immigrant entry.

 

Arctic temperatures hit new high, warmest since 1900  

 

The U.S. NOAA’s annual Arctic climate report released December 16 showed the Arctic’s average surface temperature for October 2024–September 2025 was the highest since records began in 1900. The past 10 years are the warmest on record for the Arctic.

 

Since 2006, the Arctic has warmed more than twice as fast as the global average.

Company News

Apple reportedly plans to expand iPhone lineup from five to seven models by fall 2027  

 

Insiders directly involved in Apple and supplier products say Apple plans to significantly expand its smartphone lineup over the next two years, potentially launching at least seven new flagships by fall 2027.  

 

The first foldable iPhone is expected in fall 2026, unfolding wider than tall like a small iPad. Other planned releases: iPhone 17e (name TBD) in spring 2026; iPhone 18 Pro and Pro Max in fall 2026; iPhone 18, iPhone 18e (name TBD), iPhone Air 2 (name TBD), and 20th-anniversary iPhone 20 (name TBD) in spring 2027.

 

The anniversary edition will drop black bezels for a larger screen, with under-display front camera for the first true full-screen iPhone.

 

UK investigates Google for potential anti-competitive behavior in ad tech  

 

On December 16, the UK Competition and Markets Authority (CMA) said it is probing whether Google abused a dominant position in ad tech.

 

Coinbase reincorporates in Texas  

 

Coinbase announced December 15 that its reincorporation from Delaware to Texas took effect that day. The change doesn’t affect operations, jobs, management, assets, liabilities, or net worth.

 

Pfizer forecasts 2026 revenue $59.5–62.5 billion  

 

On December 16, Pfizer issued 2026 guidance: revenue $59.5–62.5 billion, adjusted EPS $2.80–3.00.

 

Morgan Stanley: Tesla Robotaxi fleet could grow to 1,000 vehicles in 2026  

 

Morgan Stanley expects Tesla to sharply expand its Robotaxi fleet in 2026 as tech and regulatory milestones are met. Unsupervised testing in Austin is a key validation and recent catalyst. With improving safety metrics and Cybercab production in April 2026, the fleet could grow from a handful today to ~1,000 in 2026.

Forex & Commodities

WTI crude futures closed down 2.73% at $55.27/barrel. Brent crude fell 2.71% to $58.92/barrel.  

 

COMEX gold futures −0.07% to $4,332.20/oz; silver futures +0.32% to $63.795/oz.

Key Events

EU Commission plans ~€90 billion bond issuance in H1 next year  

 

The EU Commission announced December 16 plans to issue ~€90 billion in bonds in H1 2026 for Ukraine support and member state loans via NextGenerationEU and European Security Action. Up to €33 billion in loans to Ukraine from 2024–2027.

 

Analysts see the large issuance as stable funding for Ukraine amid EU divisions on using frozen Russian assets.

Cryptocurrency

Bitcoin +1.60% to $87,458.36.  

 

Ethereum −0.42% to $2,947.17.  

 

XRP +1.70%, BNB +1.86%, Solana +1.17%, Dogecoin +1.53%, Cardano −0.84%.

Crypto Key Event

Wall Street Bitcoin bulls trim short-term forecasts but hold firm on long-term optimism  

 

Some of Wall Street’s biggest Bitcoin bulls are cutting short-term targets but staying bullish long-term.  

 

Crypto-friendly Standard Chartered halved its Bitcoin forecast amid collapsing corporate finance demand and weak ETF inflows, now seeing $150,000 by end-2026 (down from $300,000) and $500,000 delayed from 2028 to 2030.  

 

Bernstein analysts also target $150,000 by end-next year and near $200,000 by end-2027. Recent declines led them to retract a prior $200,000 call for this year, but they believe Bitcoin has broken its four-year cycle for a more sustained trajectory.