GoAI Market Wrap - 23rd Dec
Stock Market
On Monday (Dec 22), U.S. stocks opened higher and closed higher, with all three major indices rising for the third consecutive day.
At the close, the Dow Jones Index rose 0.47% to 48,362.68 points; the S&P 500 Index rose 0.64% to 6,878.49 points; the Nasdaq Composite Index rose 0.52% to 23,428.83 points.
The “fear gauge” S&P 500 Volatility Index (VIX) fell to 14.08 — the lowest since December 13, 2024.
Artificial intelligence (AI)-related stocks lifted the broader market, with Nvidia and Tesla both up over 1%, Oracle up over 3%, and Micron Technology up over 4%. Investors are closely watching whether these tech leaders can maintain dominance amid high-valuation concerns heading into year-end.
Currently, skepticism remains about a potential “Santa Claus rally.” Prime Capital Financial Deputy CIO Will McGough said: “From a market perspective, I don’t think there’s much to push higher.”
However, Navellier & Associates founder Louis Navellier said: “The trend is in our favor — 2026 looks set for a strong start, the potential Santa rally is back, and we’ll end the year at new highs.”
As of Monday’s close, the S&P 500 is up 16.95% YTD. The index posted +24% and +23% gains in the prior two years. A third straight year above 20% would be “quite rare.”
McGough said he is “constructively optimistic” on next year but investors should prepare for some volatility. He noted the new Fed chair and U.S. midterm elections as potential triggers.
Last week, President Trump said he has spoken with three or four Fed chair candidates and will decide soon. Trump also called current Fed Governor Christopher Waller “great.”
Global Hotspots
Ukrainian energy facilities attacked – widespread blackouts in some regions
According to Ukrainian sources, Russian forces struck power facilities in Odesa, Zaporizhzhia, Dnipropetrovsk, and Donetsk regions early Monday. Partial blackouts occurred in those areas by morning, with large-scale outages in Odesa.
Ukraine’s DTEK energy company said Russian forces attacked two of its facilities in Odesa, causing severe damage. The company noted repairs will take time, complicated by ongoing air raid alerts, and technicians are working urgently to restore critical infrastructure and power supply.
Danish PM responds to U.S. appointment of Greenland envoy: Allies putting us in a difficult position
Regarding President Trump’s appointment of a Greenland envoy, Danish Prime Minister Frederiksen posted on social media Monday: “Our allies are putting us in a difficult position.” Frederiksen said Greenland is not for sale and its future will be decided by its residents.
Fed Governor Milan: Recent data should shift people toward dovish stance
Fed Governor Milan said the latest inflation data is “good,” and if the trend holds, it could open the door to more rate cuts next year.
Corporate News
Reports: Nvidia GB300 shipments could reach 55,000 units next year, Vera Rubin 200 expected Q4 shipment
Latest market forecasts show Nvidia GB300 AI server cabinets could ship 55,000 units next year, up 129% YoY, mainly driven by Microsoft, Meta, and others.
More notably, the next-gen Vera Rubin 200 platform is expected to begin shipping in Q4 next year, bringing sustained growth momentum to supply chain firms like Foxconn and Quanta, with some order visibility extending to 2027.
Microsoft CEO Nadella pressures team to accelerate Copilot improvements
Reports say weeks ago, Microsoft CEO Satya Nadella emailed engineering leads developing the consumer version of Copilot — Microsoft’s AI assistant across several products.
Alphabet spends $4.75 billion acquiring Intersect
Monday, Google parent Alphabet announced a definitive agreement to acquire data center and energy infrastructure firm Intersect for $4.75 billion cash, also assuming related debt.
Larry Ellison to personally back Paramount bid for Warner Bros.
Paramount-Skydance revised its offer for Warner Bros. Discovery, including personal financial backing from Oracle Chairman Larry Ellison to outbid Netflix. Per Monday’s statement, billionaire Ellison agreed to provide an irrevocable personal guarantee for $40.4 billion in equity financing for Paramount’s proposed Warner acquisition.
Ellison (whose son David is Paramount CEO) agreed not to revoke the Ellison family trust or transfer assets adversely before deal close. Paramount’s $30/share bid remains unchanged.
Honeywell lowers Q4 sales guidance
Honeywell expects Q4 adjusted EPS $2.48–$2.58 (prior $2.52–$2.62); Q4 adjusted sales $9.8B–$10.0B (prior $10.1B–$10.3B).
Forex & Commodities
WTI crude futures settled up 2.64% at $58.01 per barrel; Brent crude futures up 2.65% at $62.07 per barrel.
International gold and silver continue hitting new highs. COMEX gold futures up 2.13% at $4,480.6 per ounce; COMEX silver futures up 2.37% at $69.09 per ounce.
Key Events
Gold rally not over yet – JPMorgan bullish: Could hit $5,055 by end-next year
Monday, amid escalating geopolitical tensions boosting safe-haven buying, spot gold topped $4,400/oz for the first time — up nearly 70% YTD, on track for the strongest year since 1979. But JPMorgan analysts see over 10% more upside in the next year.
JPMorgan notes tariff uncertainty, plus strong ETF and central-bank demand, drove gold above $4,000 records in 2025, while new demand from Chinese insurers and crypto communities could help gold reach $5,055 by end-2026.
Cryptocurrency
Bitcoin 24h −0.29% to $88,615.76.
Ethereum −0.14% to $3,024.72.
XRP −1.22%, BNB −0.33%, Solana −0.09%.
Dogecoin +0.89%, Cardano +0.82%.
Key Events
Moneta Markets FX: Bitcoin 12-month target $143,000
December 22, amid heightened global digital asset volatility, Moneta Markets FX continues tracking top Wall Street views on crypto. Recent reports from leading banks set Bitcoin’s base 12-month target at $143,000 — implying ~62% upside from current ~$88,000 levels.
Moneta Markets FX believes short-term pullbacks and oscillations aside, the underlying long-term drivers remain solid, especially as traditional finance capital reshapes valuation.