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Friday, December 26

Noteworthy macro moves today: Copper +2.6%. Bitcoin +2.1%. Ethereum +2.8%. 

Global equity markets are trading mixed following a surge in gold prices as central banks prepare for potential debt crises. This has prompted investors to seek safe-haven assets amid rising sovereign debts and inflationary pressures. The demand for gold reflects concerns over geopolitical tensions and economic stability, particularly in light of recent data indicating a significant increase in U.S. GDP growth at an annualized rate of 4.3% for Q3, which has contributed to expectations of two Federal Reserve rate cuts by the end of 2026.

In Japan, recent economic data has raised concerns about stability as industrial production fell by a larger-than-predicted margin of -2.6%, marking the steepest decline since January. Additionally, housing starts showed a year-over-year contraction of -0.085%, further complicating the outlook for consumer confidence and spending patterns amidst ongoing economic challenges.

Meanwhile, China's stock market is experiencing negative trends, with indices like the Shanghai Composite showing downturns due to broader concerns about economic stability within China. The People's Bank of China's proactive macro policies aim to maintain liquidity and support financial stability amid these challenges, reflecting ongoing efforts to manage debt risks associated with financing platforms while addressing market confidence issues.

SPDR Gold Shares (GLD) [+1.0%]
SPDR Gold Shares (GLD) has seen a price increase of 1.0% since Wednesday. The recent geopolitical tensions, particularly the U.S. seizure of Venezuelan oil tankers, have led to a surge in commodity prices. Gold reached an all-time high of $4,531 per ounce, while silver rose significantly to $75 per ounce. Social media discussions reflect this bullish trend, with multiple reports confirming gold's record highs and positive sentiment surrounding GLD's performance. Additionally, silver has increased by nearly 4%, further correlating with the movement in gold prices. This environment underscores a notable rise in both gold and silver, directly influencing GLD's market performance.

iShares Silver Trust (SLV) [+3.6%]
iShares Silver Trust (SLV) has seen a notable increase of 3.6% since Wednesday, coinciding with a surge in silver prices, which recently reached a high of 75.15 per troy ounce, reflecting a significant rise. Spot silver has experienced an overall increase of over 150% year-to-date, outperforming gold's rise of 72%. Social media discussions reveal that spot silver rose above 74 per ounce for the first time, marking a daily gain of 3%. Additionally, silver futures for March 2026 climbed by 4.6%. Recent posts highlight a gamma squeeze affecting SLV and note that SLV has recorded 37 inflow signals over the past six months. Platinum prices have also increased by over 6%, further contributing to the dynamics within the precious metals market.

CPNG | +7.0% | +3.0B
Coupang Inc | Broadline Retail
Coupang Inc. has seen a premarket price increase following its announcement that it has deleted all leaked customer information linked to a data breach involving a former employee. This breach affected basic customer information from nearly 34 million accounts, although only data from about 3,000 accounts was saved before deletion. The company conducted an internal investigation in collaboration with government authorities and confirmed that no leaked information was shared with any third party. Social media discussions have highlighted the company's challenges, with some users expressing dissatisfaction with its stock performance despite growing revenue. Notably, recent posts have indicated that the breach may not be as severe as initially feared, as it only impacted a small fraction of accounts compared to earlier reports.

BHVN | -12.4% | -103.6M
Biohaven Ltd | Biotechnology
Biohaven Ltd. reported that its Phase 2 proof-of-concept study of BHV-7000 for major depressive disorder did not meet its primary endpoint, showing no statistically significant reduction in depressive symptoms compared to placebo. Following this announcement, the company decided to halt further psychiatric trials and redirect resources toward immunology, obesity, and epilepsy programs for 2026. The stock experienced a notable decline of approximately 20% in after-hours trading. Social media discussions reflected disappointment regarding the trial results, with some users labeling the update as a "#FAIL" and criticizing the overall outcome. Despite noting trends favoring BHV-7000 in certain subgroups, management plans to present additional analyses and updates at the J.P. Morgan Healthcare Conference in January 2026. Meanwhile, the Russell 2000 Index has declined slightly, which may correlate with Biohaven's recent price movement.

FCX | +3.1% | +2.4B
Freeport-McMoRan Inc | Copper
Freeport-McMoRan Inc has experienced a price increase of 3.1%, coinciding with notable movements in the copper sector. This uptick aligns with a 5.92% rise in the abrdn Physical Platinum Shares ETF, driven by heightened demand for platinum in the automotive industry and ongoing supply constraints. Additionally, the United States Copper Index Fund saw a 2.92% increase, reflecting broader trends in copper pricing. Conversations on social media suggest that Freeport-McMoRan may closely follow the movement of COPX, potentially indicating further growth. Meanwhile, a class action lawsuit has been filed against the company, alleging violations of federal securities laws related to safety concerns at its Grasberg Block Cave mine, which raises questions about the company's operational integrity and future prospects.

MU | +1.8% | +5.9B
Micron Technology Inc | Semiconductors
Micron Technology Inc. recently reported record revenue and margin expansion in its first-quarter earnings. The cloud memory segment generated over $5.2 billion in revenue with a profit margin of 66%. For the second quarter, the company announced a revenue outlook of $18.7 billion, exceeding analysts' estimates. Analysts from BofA and Raymond James upgraded their ratings, setting price targets at 300 and 310, respectively, due to strong demand driven by AI for high-performance memory products. Additionally, Micron's strategic decision to exit the Crucial consumer business aims to enhance support for larger customers in faster-growing segments. On social media, discussions highlighted Micron's ranking as the third best-performing stock in the S&P 500 for 2025, alongside mentions of solid overnight stock action and a bullish sentiment surrounding its performance.

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