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Friday, November 29

Some of the largest macro moves in the market today include: Gold +0.9%. Some of the largest moves among US mega-cap stocks include: Berkshire Hathaway Inc (BRK.B) +0.7%.

Recent market movements are significantly influenced by economic data releases and central bank policy expectations. The Eurozone's inflation rate rose to 2.3% in November, matching forecasts but raising concerns about the European Central Bank potentially cutting rates due to slowing growth signals from member states like France and Germany. In particular, French budget negotiations have created uncertainty that has led to increased yields on government bonds across Europe.

In Canada, GDP expanded by only 0.3% for Q3 2024 as household consumption slowed sharply in October; this aligns with a broader trend of cautious consumer spending observed globally amid rising interest rates and geopolitical tensions affecting trade dynamics—especially concerning U.S.-China relations under President-elect Donald Trump’s administration, which may lead toward new tariffs impacting various sectors including technology.

Additionally, currency markets reflect these developments: the Japanese yen strengthened following stronger-than-expected Tokyo inflation figures suggesting potential monetary tightening from the Bank of Japan next month while the US dollar weakened against major currencies amidst declining Treasury yields driven by shifting investor sentiment regarding future Federal Reserve actions related to upcoming employment data releases expected next week.

SPDR Gold Shares (GLD) [+0.9%]
Gold prices increased today, rising amid a weaker U.S. dollar and geopolitical tensions, particularly following military actions in the Middle East and threats from Russia. This uptick comes despite gold's trajectory for its worst monthly performance since September, with a decline noted for November. Concurrently, SPDR Gold Trust's holdings decreased slightly. Social media discussions highlight a recovery in gold prices for the second consecutive day after a significant decline earlier in the week. Additionally, silver prices have also risen, reflecting broader market movements correlated with gold, which may provide context for GLD's own price increase of 0.9% since Wednesday.

VanEck Semiconductor ETF (SMH) [+0.5%]
The VanEck Semiconductor ETF (SMH) has experienced a price increase of 0.5% since Wednesday. Recent reports indicate that U.S. officials are contemplating easing restrictions on semiconductor sales to China, which has positively influenced the semiconductor sector and contributed to a rise in global chip stocks and ETFs. Notably, SMH saw a larger gain of 0.90% following this news. Key contributors to the ETF's performance include NVIDIA, Applied Materials, Lam Research, KLA Corp, and Qualcomm, all benefiting from favorable market sentiment related to potential regulatory adjustments. Additionally, discussions on social media have highlighted that semiconductor stocks are testing the 200-day moving average, marking a critical moment for price movement, with optimism surrounding key players like ASML and Tokyo Electron due to the anticipated easing of U.S. sanctions against Chinese firms.

AMAT | +2.4% | +3.4B
Applied Materials Inc | Semiconductor Materials & Equipment
Applied Materials Inc has seen a notable increase in premarket trading, rising alongside the Semiconductor Materials & Equipment sector. This uptick coincides with recent news regarding U.S. government plans for semiconductor export controls targeting China, which are reportedly less stringent than earlier proposals. The announcement was made approximately one hour and twenty-three minutes ago. Additionally, social media discussions have highlighted that CXMT has not been included on the entity list, positively affecting stock prices of TEL and Kokusai in Tokyo. This sentiment may extend to Applied Materials and its peers, including Lam Research and KLA Corporation, as they react to these developments.

RIVN | +1.6% | +192.1M
Rivian Automotive Inc | Automobile Manufacturers
Rivian Automotive Inc. is experiencing positive momentum following the announcement of a partnership with Volkswagen. This collaboration will integrate Rivian's architecture into Volkswagen's upcoming flagship electric vehicle, "Project Trinity," as part of a $5.8 billion joint venture focused on enhancing electrical and electronic architecture technology. Volkswagen CEO Thomas Schafer emphasized the strategic significance of this partnership, which was officially launched earlier this month. Rivian's stock closed at $12.22 on Wednesday, reflecting a notable increase. Meanwhile, social media discussions have surfaced concerns regarding Rivian's financial performance, particularly highlighting President Biden's extension of a $6 billion lifeline amid reported losses of over $100,000 for each electric vehicle sold. Despite these financial challenges, some posts suggest optimism for potential opportunities in December alongside other equities.

NVDA | +1.0%| +32.5B
NVIDIA Corp | Semiconductors
NVIDIA Corp's stock has gained momentum, rising by 1.0% since Wednesday, amid notable analyst optimism. Citi has placed the company on a “positive catalyst watch” for the next 90 days, forecasting a potential price increase of 27% by early 2025, coinciding with CEO Jensen Huang’s keynote at CES 2025, where new GPUs are expected to be unveiled. Citadel Advisors has increased its stake in NVIDIA by 194%, reflecting confidence in its performance, which has seen shares surge significantly year-to-date. The company reported third-quarter revenue of $35.1 billion, marking a substantial year-over-year increase of 94%. Social media discussions highlight expectations of a 70% upside for the stock in 2025 and emphasize strong demand for AI servers, as well as robust orders for the upcoming RTX 50 series. Additionally, NVIDIA's data center revenue has more than doubled, underscoring its strong market position.

KLAC | +2.4%| +2.1B
KLA Corp | Semiconductor Materials & Equipment
KLA Corp has experienced a notable premarket increase, aligning with a broader rise in the Semiconductor Materials & Equipment sector. Recent news indicates that KLA Corp, alongside peers Applied Materials and Lam Research, saw a premarket gain of approximately 3%. This movement coincides with U.S. preparations for new chip export curbs targeting China, which are reportedly less stringent than earlier proposals. Additionally, social media discussions highlighted that planned export controls on semiconductor equipment to China would not include CXMT on the entity list, leading to positive reactions in related companies such as TEL and Kokusai in Tokyo. This context may influence KLA Corp's performance on Friday.

MSTR | +4.1% | +297.5M
Microstrategy Inc | Application Software
MicroStrategy Inc. experienced a notable increase in its share price, rising approximately 4.44% during pre-market trading as Bitcoin rebounded to around 96,596.96 after a dip earlier in the week. The company's stock performance is closely tied to Bitcoin due to its significant cryptocurrency holdings. Analysts have set a consensus price target of 449.5, suggesting a potential upside of nearly 39%. Since the beginning of November, MicroStrategy's stock has surged by 69%. Social media discussions have highlighted an ongoing SEC case against the company regarding securities fraud allegations and speculation about its potential inclusion in the NASDAQ 100. Additionally, analysts predict that MicroStrategy could own 4% of the total Bitcoin supply by 2033, valued at approximately 830 billion. Concerns regarding Tether's stability and its implications for MicroStrategy's financial health have also been raised.

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