Tonight's Highlights | Silver Hits All-Time High Again • Intel Stages Epic "High-Dive" Crash

With CPU star stock Intel plunging 13% after hours, US stock futures are collectively weak and choppy in pre-market trading. If the S&P 500 fails to fill this week's gap tomorrow, it would mark the benchmark's first back-to-back weekly decline since June last year.

 

As of press time: Nasdaq 100 futures (2603 contract) –0.13%, S&P 500 futures –0.10%, Dow futures –0.29%.

 

Behind the subdued US market performance is global capital "voting with its feet" amid US policy uncertainty. The MSCI Emerging Markets Index is on track for its fifth straight weekly gain, up nearly 7% YTD in 2026. According to Bank of America citing EPFR Global data, of the $50 billion that flowed into developed-market funds this year, only $770 million went into US equities.

 

European and Indian investors are trimming US Treasury holdings in favor of diversification. Even after the temporary de-escalation in US–Europe trade tensions, the US 10-year Treasury yield remains at its highest level since September last year.

 

Katie Koch, CEO of Western Trust Group, commented:  

"People are quietly reducing their reliance on US assets. I’d call it a ‘silent exit’ from Treasuries. There won’t be any dramatic public announcements — investors are just gradually seeking opportunities to further diversify their allocations."

 

Another visible trend: capital pouring into precious metals. Although spot gold saw sharp intraday swings on Friday, it’s still up over 7% this week — on pace for its strongest weekly performance since early 2020. Spot silver continues its surge and is currently pushing toward the historic $100/oz level.

 

Next week marks the real blowout phase of earnings season: Tesla, Apple, Microsoft, Meta, ASML, Texas Instruments, IBM, three of the "big four" storage names (SanDisk, Seagate, Western Digital), GE Vernova, and many other high-profile names will report.

Other Key Headlines

Tesla FSD (Supervised) Approval in China Next Month? Insider: False  

 

Elon Musk said at Davos that Tesla’s supervised Full Self-Driving could be approved in China as early as next month, roughly in line with Europe. Reliable sources: The claim is not true.

 

Intel Plunges 13% Pre-Market • CEO Admits "Orders But No Supply"  

 

Intel down as much as 13% pre-market after weak guidance. CEO Lip-Bu Tan admitted 18A process yields are still below expectations, safety stock is exhausted, and the company is basically in "build-to-order" mode — severely constraining supply.

 

BofA & Citi Reportedly Considering 10% Credit Card Rate Cap in Response to Trump  

 

Reports say Bank of America is exploring a credit card with a 10% APR cap to align with President Trump’s recent proposal; Citi is also discussing a similar 10% product.

 

Apple CEO Succession Picture Gets Clearer: John Ternus’s Role Expanded  

 

Mark Gurman reports Apple has broadened hardware chief John Ternus’s responsibilities, further solidifying him as the leading candidate to succeed Tim Cook. Late last year Ternus took over the design team (hardware + software) — a role long held by senior Apple leaders.

 

SanDisk Shorts Already Down ~$3 Billion • Short Squeeze Risk Spikes  

 

Per S3 Partners: Since early November last year, shorts have aggressively added to SanDisk positions (short interest up from ~4% to ~7.5%). Mark-to-market losses now ~$3 billion. YTD +112% — top performer in the S&P 500.

 

European Ammo Maker CSG Surges 29%+ on IPO Debut  

 

Czechoslovak Group (CSG) jumped over 29% on its Amsterdam debut. Priced at €25/share, hit €32.3 intraday. Raised €3.3 billion — largest pure-defense IPO in history. If it closes slightly above €31, it would be the best first-day performance for any European IPO raising >$3 billion since Infineon in 2000.