GoAI Market Wrap - 19th Dec
Stock Market
On Thursday Eastern Time, the three major U.S. indices all rose, ending the recent decline, with the Nasdaq leading gains at around 1.4%, fueled by favorable inflation data. 
(Intraday charts of the three major indices, source: TradingView)
At the close, the Dow Jones Index rose 0.14% to 47,951.85 points; the S&P 500 Index rose 0.78% to 6,774.76 points; the Nasdaq Index rose 1.38% to 23,006.36 points.
The data released pre-market showed U.S. November CPI up 2.7% YoY — notably below the expected 3.1%; core CPI (excluding food and energy) up 2.6% YoY, also below the 3.0% consensus.
The report, originally scheduled for December 10, was delayed due to the prolonged U.S. federal government shutdown, and the October CPI report was canceled outright — meaning Thursday’s release lacks some standard data points.
Given the absence of October comparison data, economists may not interpret this as a clear starting point for disinflation, and some have questioned the housing inflation calculation.
Waddell & Associates CEO and Chief Investment Strategist David Waddell said: “Those (owners’ equivalent rent) figures are approaching pre-pandemic levels. There may be some adjustments ahead, but for now, the report signals inflation is under control.”
Micron Technology surged over 10% after previously issuing strong guidance. Micron’s performance has reignited the recently weakening artificial intelligence (AI) narrative.
Logan Capital Management portfolio manager Chris O'Keefe said: “Micron’s earnings show spending will remain massive over the next 12–18 months.”
He added: “There will be winners and losers in this process — it will take time to sort out — but from an earnings perspective, I wouldn’t abandon the AI theme. I think some stocks now have huge upside after the pullback.”
Global Hotspots
Trump signs executive order reaffirming 2028 moon landing goal
The White House said on December 18 local time that Trump signed an executive order that day setting out a vision for “America First” space policy to ensure U.S. leadership in space exploration, security, and commerce.
The order calls for Americans to return to the moon by 2028 and establish initial facilities for a permanent lunar outpost by 2030, directing deployment of nuclear reactors on the moon and in orbit. It promotes private-sector innovation and investment by upgrading launch infrastructure and developing commercial pathways to replace the International Space Station by 2030.
The order directs the President’s science and technology advisor to coordinate national space policy and instructs federal agencies to jointly implement it, including streamlining procurement, implementing related space security strategies, and ensuring appropriate human resources.
Trump gives federal government two extra holidays – NYSE says trading as usual around Christmas
After President Donald Trump signed an executive order closing the federal government on December 24 and 26, the New York Stock Exchange said it will not change trading hours around Christmas.
The NYSE had already scheduled an early close at 1 p.m. on December 24. It posted on its website that December 26 will be a normal full trading day.
The White House published Trump’s executive order Thursday closing the federal government on Christmas Eve and December 26.
Peskov: G7 format is outdated
Russian Presidential Press Secretary Peskov said solutions to the Ukraine issue could involve “multiple economic topics.” He stressed no further details should be disclosed because “mediation work should be quiet and non-public.”
Peskov also said Russia is not interested in rejoining the G7 and considers the group format outdated.
German Chancellor plans to use Russian central bank assets in Germany to support Ukraine
A source close to the talks said German Chancellor Merz indicated at the EU summit in Brussels that day he intends to meet Belgium’s request and use Russian central bank assets in Germany to support Ukraine.
Corporate News
Nasdaq applies to extend weekday trading hours to 23 hours
Nasdaq said Monday it filed with the SEC to launch near-24/7 stock trading, extending stock and ETP trading from 16 hours on five weekdays to 23 hours.
Currently, Nasdaq has three weekday sessions: pre-market 4:00–9:30 a.m. ET, regular 9:30 a.m.–4:00 p.m. ET, and after-hours 4:00–8:00 p.m. ET.
Under the “23/5” plan (23 hours on five weekdays), there will be two sessions: daytime from 4:00 a.m. to 8:00 p.m. ET (including pre, regular, and after-hours, retaining 9:30 a.m. open and 4:00 p.m. close bells), followed by one hour for maintenance/testing/clearing; nighttime from 9:00 p.m. to 4:00 a.m. next day. Trades from 9:00 p.m.–midnight will count toward the next day.
The trading week will start Sunday 9:00 p.m. ET and end Friday 8:00 p.m. ET after daytime session.
Nvidia releases Nemotron 3 series open-source models
On December 15, Nvidia released the Nemotron 3 family of open-source models, including Nano/Super/Ultra versions, introducing a hybrid Mamba-Transformer expert mixture architecture.
Musk net worth surges to $677 billion
According to Forbes data, Musk’s net worth has reached $677 billion.
The surge is mainly due to a valuation jump at SpaceX. Reports earlier this month said SpaceX launched an internal share tender offer valuing the company at $800 billion — double August’s $400 billion.
Based on Musk’s ~42% stake, as of noon Monday ET, his wealth increased by $168 billion to ~$677 billion.
Strategy spends $980 million last week adding Bitcoin, holdings exceed 670,000 coins
On December 15, major Bitcoin holder Strategy announced purchases of 10,645 bitcoins from December 8–14 for $980.3 million at an average price of $92,098. As of December 14, Strategy holds 671,268 bitcoins at an average cost of $74,972.
Sanofi expands partnership with Dren Bio to co-develop next-gen B-cell depletion therapies
Biopharma company Sanofi announced on December 15 a strategic partnership with Dren Bio to jointly discover and develop next-generation B-cell depletion therapies for multiple autoimmune diseases. Dren Bio will receive $100 million upfront and is eligible for up to $1.7 billion in future milestones, plus tiered royalties.
The new partnership builds on Sanofi’s prior acquisition of DR-0201 assets.
Forex & Commodities
WTI crude futures closed up 0.38% at $56.15 per barrel. Brent crude futures up 0.23% at $59.82 per barrel.
COMEX gold futures down 0.23% at $4,363.9 per ounce; COMEX silver futures down 2.17% at $65.45 per ounce.
Key Events
Oil: Prices edge higher, supported by geopolitical risks around Venezuela and Russia
Oil prices rose for the second straight day Thursday on geopolitical risks around Venezuela and Russia.
January WTI crude futures up 0.4% to above $56 per barrel; the contract expires Friday, with the more active February contract similar.
Prospects of U.S. military action against Venezuela fueled supply concerns. Venezuela accounts for less than 1% of global crude output. President Trump this week ordered a blockade of sanctioned tankers entering or leaving Venezuela but did not detail next steps in his televised address.
The U.S. is also preparing new sanctions on Russia’s energy sector, even as the U.S. and Ukraine’s European allies consider security guarantees for Ukraine to ensure any peace deal holds.
Cryptocurrency
Bitcoin 24h −0.95% to $85,258.43.
Ethereum −0.35% to $2,818.76.
XRP −4.51%, BNB −1.85%, Solana −4.45%.
Dogecoin −3.57%, Cardano −4.60%.
Key Events
BitMine announces Ethereum holdings increased to ~3.97 million ETH
BitMine Immersion Technologies (BMNR) announced its Ethereum holdings increased to ~3.97 million ETH, worth ~$12.2 billion at December 14 prices, ~3.2% of total ETH supply; the company also holds ~193 BTC, $1 billion cash, and other crypto assets/investments, total crypto + cash ~$13.3 billion.