**Markets** - U.S. stocks closed lower on Dec 16, with the Nasdaq down over 130 points. Market focus this week remains on economic data. - Top 20 U.S. stocks by trading volume: Wedbush predicts Tesla's market cap could reach $3 trillion next year. - Most popular Chinese tech stocks fell, with Alibaba down 3.59% and Baidu dropping 4.94%. - Oil prices declined as markets weighed Venezuela supply disruptions against oversupply concerns. - Gold pared gains to close slightly higher, while palladium surged 5.51%, leading precious metals. - European stocks rose as investor risk appetite improved.
**Macro** - Trump stated that after recent negotiations, the Russia-Ukraine conflict is closer to resolution than ever. - Trump plans to sue the BBC as early as today or tomorrow. - Trump is "strongly" considering reclassifying marijuana via executive order. - Some Trump allies are pushing for "another Kevin" as Fed Chair amid uncertainty over Hassett's prospects. - The U.S. Treasury issued a general license authorizing transactions involving Belarus Potash Company. - The U.S. BLS noted higher variance in November household survey statistics. - The U.S. proposed more substantial security guarantees for Ukraine, though territorial disputes remain a key sticking point. - Multiple European nations and EU leaders pledged security assurances for Ukraine in a joint statement. - Ukraine-U.S. negotiations made "substantial progress," moving closer to an agreement. - Putin approved a military cooperation deal with India. - Argentina’s central bank will reform its exchange rate band system by 2026.
**Corporate** - OpenAI hired a Google executive to lead its corporate development. - Forbes estimates Elon Musk’s net worth at $600 billion. - Musk confirmed autonomous Robotaxi testing is underway in Austin, boosting Tesla’s stock. - Strategy CEO Saylor invested $1 billion to buy Bitcoin again. - Dutch pension fund PME ended its partnership with BlackRock over climate policy disagreements. - JPMorgan’s investment banking global chair Jamie Grant is set to retire early next year. - JPMorgan launched its first Ethereum-based tokenized money market fund. - Microsoft’s AI edge extends beyond OpenAI—Wall Street remains bullish.
**Commentary** - Bitcoin fell below $86K, nearing its yearly low. - A Fed governor who dissented three times stated "core" inflation is nearing target. - Fed Governor Meehan signaled he may stay until a successor is confirmed. - Fed’s Williams: Current monetary policy is well-prepared for 2026. - Fed’s Collins called last week’s rate cut support a "tough decision." - U.S. Treasuries: Yield curve steepened further, with demand for 10-year call options. - U.S. homebuilder confidence in December edged up to an eight-month high. - Bridgewater warns that AI’s reliance on external capital carries "hidden risks."