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Thursday, January 8

Noteworthy macro moves today: Bitcoin -1.6%. Silver -4.4%. Noteworthy US mega-cap moves today: Visa Inc (V) -0.9%. 

Global equity markets are trading lower following mixed economic data from the U.S. that has raised concerns about labor market conditions. Initial jobless claims fell to 208,000, slightly better than expected, but continuing claims rose unexpectedly to nearly two million, indicating potential challenges in certain sectors.

In Europe, equity indices are also generally lower as investors react to geopolitical tensions and disappointing economic sentiment indicators. The Eurozone Economic Sentiment Indicator fell to 96.7 in December, below expectations and signaling declining confidence amid ongoing macroeconomic uncertainties.

Additionally, Germany's factory orders surged by an unexpected 5.6% month-on-month in November, which initially boosted market sentiment but was overshadowed by broader concerns regarding inflation and geopolitical risks affecting trade dynamics. This mixed data landscape is contributing to cautious investor behavior across global markets today.

iShares Silver Trust (SLV) [-4.0%]
iShares Silver Trust (SLV) has seen a notable decline of 4.0% since Wednesday. Recent social media discussions have highlighted the upcoming BCOM index rebalancing scheduled for January, which could lead to mechanical selling in both gold and silver. A specific trade plan for SLV around the price of $71.22 has also surfaced. Concurrently, silver's significant price increase in 2025 is being referenced, with expectations of continued strong performance in 2026 due to economic factors such as inflation and supply shortages. The U.S. dollar has strengthened against major currencies, reaching multi-week highs amid anticipated Federal Reserve interest rate cuts, which typically exerts downward pressure on precious metals. Additionally, mixed signals from recent U.S. labor market data have added volatility, with initial jobless claims slightly better than expected while continuing claims exceeded forecasts. Platinum has also declined, reflecting broader market sentiment that may influence SLV's performance.

iShares U.S. Aerospace & Defense ETF (ITA) [+3.3%]
President Trump has proposed increasing the U.S. military budget for 2027 to $1.5 trillion, a significant rise from the previously planned $1 trillion. This announcement has positively influenced defense sector stocks, including the iShares U.S. Aerospace & Defense ETF (ITA), which has seen a price increase of 3.2%. Earlier in the day, Trump's criticism of defense contractors regarding stock buybacks led to a temporary decline in defense stock prices. However, the subsequent budget proposal reversed that trend. Additionally, Trump's plans to control future sales of Venezuelan oil and rising tensions between China and Japan over Taiwan may further impact defense spending and market dynamics. Social media discussions have noted volatility in defense stocks, with users highlighting their significant price movements following these political developments. Key contributors to ITA's performance include Lockheed Martin, Raytheon Technologies, Northrop Grumman, L3Harris Technologies, and Boeing, all of which have shown notable returns.

LMT | +7.7% | +9.9B
Lockheed Martin Corp | Aerospace & Defense
Lockheed Martin Corp's stock has experienced significant volatility due to recent announcements from President Donald Trump. Initially, the stock declined sharply after Trump criticized defense contractors for excessive dividends and stock buybacks. Shortly thereafter, he proposed a record $1.5 trillion military budget for 2027, which led to a notable recovery in the stock price during after-hours trading. The company also reported a record delivery of 191 F-35 jets in 2025, surpassing previous figures and reflecting strong operational performance amid rising global demand for defense products. Concurrently, L3Harris Technologies Inc saw a price increase, indicating a broader positive trend in defense equities.

RVMD | -6.5% | -1.0B
Revolution Medicines Inc | Biotechnology
Revolution Medicines Inc. has seen a significant decline in its stock price following the denial of acquisition discussions by AbbVie, which had previously fueled speculation and led to a notable increase in Revolution's shares. The denial has reversed this rally, contributing to a substantial drop in value. Meanwhile, Revolution recently achieved FDA Breakthrough Therapy Designation for zoldonrasib, aimed at treating KRAS G12D-mutated non-small cell lung cancer. This designation highlights the company's innovative pipeline but coincides with the negative sentiment from the failed acquisition talks. Additionally, social media discussions have reflected disappointment over AbbVie's announcement and noted that Revolution's COO filed to sell 75,000 shares, further intensifying scrutiny on the company’s stock activity.

GMED | +7.1% | +930.1M
Globus Medical Inc | Health Care Equipment
Globus Medical Inc. reported preliminary Q4 revenue of $823.2 million, surpassing consensus estimates of $778.31 million, and reflecting a 25.2% increase over the previous year's Q4 results. For FY25, the company anticipates revenue of approximately $2.936 billion, exceeding the consensus of $2.89 billion, which indicates a year-over-year growth of 16.5%. Looking ahead to FY26, Globus Medical projects revenue between $3.18 billion and $3.22 billion, with adjusted earnings per share expected to range from $4.30 to $4.40, compared to a consensus of $4.12. Social media discussions have highlighted these preliminary results and optimistic guidance, contributing to a positive sentiment surrounding the company's financial outlook and recent price movements.

AYI | -5.8% | -621.0M
Acuity Brands Inc | Electrical Components & Equipment
Acuity Brands Inc reported its fiscal first-quarter 2026 results, showing net sales of $1,143.7 million, slightly below expectations. The company achieved an operating profit of $160.4 million and a net income of $120.5 million. Adjusted earnings per share reached $4.69, surpassing the consensus estimate of $4.59. The Intelligent Spaces segment experienced notable growth, with revenue increasing significantly year-over-year, while the Acuity Brands Lighting & Controls segment saw modest growth. The company ended the quarter with $376.1 million in cash and equivalents, a decrease from the previous quarter's $422.5 million. Additionally, discussions on social media highlighted key economic events scheduled for January 8, 2026, and noted Acuity Brands' earnings report timing at 6:00 AM.

RPM | -5.6% | -716.9M
RPM International Inc | Specialty Chemicals
RPM International Inc. reported fiscal Q2 earnings, revealing net sales of $1.91 billion, which fell short of the consensus estimate of $1.93 billion. Adjusted earnings per share (EPS) was $1.20, missing expectations by $0.23. Adjusted EBIT decreased to $226.63 million from $255.08 million in the prior year. The company noted that sales growth turned negative as the quarter progressed, influenced by prolonged government shutdowns affecting construction project timelines and consumer sentiment. Despite these challenges, RPM anticipates consolidated sales growth in the mid-single-digit percentage range for Q3.

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