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Thursday, December 4

Global equity markets are trading mixed as optimism about potential interest rate cuts by the Federal Reserve contrasts with recent weak labor market data from the U.S. .

In economic news, initial jobless claims in the U.S. fell to a three-year low of 191,000 for the week ending November 29th, significantly below forecasts and indicating a potential easing in labor market pressures. Continuing claims also decreased to their lowest level since early November but remain elevated compared to historical norms.

The Eurozone's retail sales were flat for October, while annual sales rose by 1.5%, reflecting mixed consumer activity amid ongoing economic challenges. Additionally, construction PMIs across Europe indicate continued contraction but with signs of easing declines in some regions like Germany and France.

iShares MSCI Japan ETF (EWJ) [+2.0%]
The iShares MSCI Japan ETF (EWJ) has increased by 2.0% in pre-market trading. The Nikkei 225 Index surged significantly, reaching a record high, driven by strong gains across key sectors. Anticipation of an interest rate hike by the Bank of Japan in December is adding to the positive sentiment, supported by a recent bond sale that saw the highest demand ratio since 2019. The movement in USD/JPY contributed to the ETF's performance, with notable gains from holdings such as Toyota Motor Corporation and Mitsubishi UFJ Financial Group, among others. These developments reflect a favorable economic outlook for Japan amidst shifting monetary policies.

VanEck Gold Miners ETF (GDX) [-1.0%]
The VanEck Gold Miners ETF (GDX) is experiencing a daily return of approximately -0.7%, influenced by a stronger U.S. dollar that has contributed to declines in gold prices. This comes amid profit-taking by investors following weak private payrolls data, which reported a surprising decline in jobs for November. Additionally, oil prices have risen due to escalating tensions between Russia and Ukraine, although this may not directly affect the performance of GDX at this time. Social media discussions reflect that while GDX has seen price increases, it appears to be in a corrective phase with an anticipated Intermediate Cycle Low. Among the ETF's holdings, notable declines were observed in Newmont Corporation (NEM), Wheaton Precious Metals (WPM), and others. Furthermore, silver prices have dropped significantly, which may also be impacting GDX, given their historical correlation.

DG | +5.8% | +1.5B
Dollar General Corp | Consumer Staples Merchandise Retail
Dollar General Corporation reported strong third-quarter earnings, with adjusted earnings per share surpassing analyst expectations. Revenue increased year-over-year, reaching $10.6 billion, while same-store sales rose, driven by an uptick in customer traffic. The company experienced a significant surge in net income compared to the previous year. In light of these results, Dollar General raised its full-year earnings per share guidance, exceeding the consensus estimate. Additionally, the company increased its net sales growth forecast, indicating a positive outlook for future performance. Social media discussions highlighted key economic events and included mentions of Dollar General among other companies.

SNOW | -9.1% | -7.3B
Snowflake Inc. | Internet Services & Infrastructure
Snowflake Inc. reported its Q3 results, revealing adjusted earnings per share of 0.35, surpassing expectations of 0.31, with revenue of 1.21 billion, exceeding the forecast of 1.18 billion. Product revenue increased by 29% year-over-year, while remaining performance obligations rose to 7.88 billion, reflecting a 37% year-over-year increase. Despite these positive figures, the company projected Q4 product revenue between 1.195 billion and 1.2 billion, with operating margins expected to decline from 11% to 7%. Following the earnings report, shares dropped significantly in after-hours trading due to concerns over declining margins. Additionally, Snowflake announced a $200 million expansion of its partnership with Anthropic to enhance AI capabilities across its platform for over 12,600 global customers.

TIGR | +8.7% | +1.7B
UP Fintech Holding Ltd | Investment Banking & Brokerage
UP Fintech Holding Ltd reported its third-quarter financial results for 2025, demonstrating significant growth. The company achieved record revenue of 175.2 million, reflecting a substantial increase year-over-year and quarter-over-quarter. Non-GAAP net income attributable to shareholders surged to 57 million, marking a notable rise from the previous quarter and more than double the amount from the same period last year. Funded accounts grew by 31,500, totaling 1.22 million, while global client assets reached 61 billion, up significantly both sequentially and year-over-year. Average net asset inflows per newly funded client exceeded 32,000 during the quarter. Additionally, UP Fintech's Q3 non-GAAP net income was reported at 0.307 per diluted American depositary share, surpassing analyst expectations. Revenue for the quarter ending September 30 was reported at 153.2 million, a marked increase from the previous year.

NIO | +4.0% | +412.3M
NIO Inc | Automobile Manufacturers
NIO Inc is experiencing notable social media buzz surrounding the imminent launch of the Ledao L60 Black Knight, which will be limited to 666 units available for immediate delivery. This launch is set for tomorrow. Concurrently, ONVO has reported delivering its 40,000th L90 in just four months, with detailed monthly deliveries of 10,575 in August, 10,997 in September, and 11,776 in October, totaling 33,348 units over that period. However, November sales for the L90 dipped below 6,652 units. The standard L90 is priced at RMB266,000 (approximately 38,000), while the Black Knight Edition retails for RMB307,000 (about 43,000).

ASTS | +2.3% | +371.5M
AST SpaceMobile Inc | Alternative Carriers
AST SpaceMobile Inc (ASTS) has seen a notable increase in market-on-close (MoC) orders, with a significant rise in trading volume observed at the market close. Recent social media discussions highlighted the filing of Form-4s, revealing that executives Scott Wisniewski, Shanti Gupta, and Andy Johnson each received 125,000 restricted stock units (RSUs), while Abel Avellan received 250,000 RSUs for the first time. All RSUs are set to vest over three years. Additionally, ASTS experienced a price push to $63 overnight following an 8% increase during the day. Excitement is building around a potential multi-launch campaign leading into year-end, along with discussions regarding space-based data centers, which have garnered attention due to involvement from notable figures such as Sam Altman.

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