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Friday, January 9

Noteworthy macro moves today: Copper +1.7%. AEX 25 Index (Netherlands) +1.8%. 

Global equity markets are trading higher as investors react to a mix of economic data releases and ongoing geopolitical developments. The U.S. labor market data released today showed nonfarm payrolls increased by only 50,000 jobs in December, significantly below the expected 60,000, while the unemployment rate fell to 4.4%, better than forecasts of 4.5%. This mixed outcome has led to cautious optimism among traders regarding future Federal Reserve policy.

In Europe, Germany's industrial production unexpectedly rose by 0.8% in November, defying expectations for a decline and boosting market sentiment despite a significant drop in exports of 2.5% during the same period. Meanwhile, France reported a slight decline in household consumption, which fell by 0.3%, indicating potential challenges for consumer spending ahead.

Additionally, anticipation surrounds upcoming Supreme Court rulings on President Trump's tariffs that could further impact market dynamics; this uncertainty is reflected in subdued trading conditions as investors await clearer signals from both economic indicators and legal outcomes related to trade policies.

United States Oil Fund LP (USO) [-0.9%]
The United States Oil Fund LP (USO) has seen a price decline of 0.9% since Thursday. Recent developments include President Trump's announcement of a plan for the U.S. to purchase up to 50 million barrels of crude oil from Venezuela, valued at approximately $2.8 billion. This comes alongside a reported decrease in OPEC's December oil output by 100,000 barrels per day, primarily due to cuts from Iran and Venezuela. Additionally, a U.S. official mentioned ongoing actions to seize the Olina oil tanker in the Caribbean, which heightens geopolitical tensions affecting oil supply dynamics. Social media discussions have highlighted USO's recent performance, noting a significant increase earlier this month, but a Goldman Sachs survey revealed that 59% of institutional clients currently hold bearish views on crude oil, reflecting concerns over a potential global supply glut amid macroeconomic uncertainties.

Health Care Select Sector SPDR Fund (XLV) [+0.4%]
The Health Care Select Sector SPDR Fund (XLV) is experiencing a slight increase in pre-market trading, reflecting broader positive sector performance with a notable uptick. The ETF has seen strong activity, partly driven by significant developments within the health care industry. Notably, Haemonetics Corporation's acquisition of Vivasure Medical for €100 million signals ongoing investment and innovation in the sector. Additionally, Johnson & Johnson's voluntary agreement with the U.S. government aims to enhance access to medicines and lower costs, which includes plans for new manufacturing facilities in North Carolina and Pennsylvania as part of a substantial investment commitment. This news may positively influence the sentiment towards health care equities. Among the ETF's holdings, key contributors to its performance include Eli Lilly, UnitedHealth Group, Amgen, Danaher, and Vertex Pharmaceuticals, all showing positive returns.

OKLO | +17.7% | +2.5B
Oklo Inc | Electric Utilities
Oklo Inc. has entered into a significant partnership with Meta Platforms to develop a 1.2 GW advanced nuclear power campus in Pike County, Ohio. This agreement allows Meta to prepay for electricity and provides funding for Oklo's Aurora powerhouse project. Pre-construction activities are slated to begin in 2026, with the first phase expected to come online by 2030 and full capacity targeted for 2034. This initiative aims to bolster Ohio's clean energy workforce and generate local tax revenues while supporting Meta’s data center operations. Concurrently, social media buzz highlights this collaboration as part of broader multi-gigawatt nuclear deals involving other entities, generating excitement and contributing to a notable surge in Oklo's stock price during pre-market trading. The stock has reportedly increased significantly over the past four days, driven by these developments.

RVMD | +14.3% | +2.9B
Revolution Medicines Inc | Biotechnology
Revolution Medicines Inc has seen a significant stock price increase, attributed to reports of Merck's discussions to acquire the company for an estimated $28 billion to $32 billion. This news emerged approximately 11 hours ago and has generated considerable market interest. Social media discussions have echoed this speculation, emphasizing Merck's need to address the impending patent expiration of its major drug, Keytruda, in December 2028. Additionally, Revolution Medicines' unique KRAS program is viewed as a valuable asset for Merck. The stock's price rose notably in response to these acquisition rumors, alongside gains in other biotech stocks. Furthermore, Revolution Medicines announced that the FDA granted Breakthrough Therapy Designation to zoldonrasib, a RAS(ON) G12D-selective inhibitor, for treating specific patients with KRAS G12D mutations.

VST | +16.7% | +10.2B
Vistra Corp | Independent Power Producers & Energy Traders
Vistra Corp has announced a significant development by entering into 20-year power purchase agreements with Meta Platforms, providing over 2,600 megawatts of zero-carbon energy from three nuclear plants in the PJM region. These contracts encompass 2,176 megawatts of existing capacity and an additional 433 megawatts from planned uprates, representing the largest nuclear uprates supported by a corporate customer in the United States. The collaboration is expected to enhance local economic development and job creation while ensuring the continued operation of these facilities. Operational enhancements are set to commence in late 2026, with full capacity anticipated by 2034. Social media discussions have noted a price increase for Vistra Corp's stock, with reports attributing a rise to these agreements with Meta. Users have characterized the developments as among the largest nuclear deals ever made.

CEG | +7.4% | +8.1B
Constellation Energy Corp | Electric Utilities
TD Cowen has initiated coverage on Constellation Energy Corp with a Buy rating and set a price target of 440.00, which likely contributes to the stock's current upward movement. Social media discussions have highlighted a recent post mentioning Meta's announcement of nuclear energy projects, potentially unlocking 6.6 GW, with Constellation Energy listed among other companies. Additionally, CEG was noted to be trading at 322.54, up by 20 points following the analyst upgrade. Concurrently, Vistra Corp has experienced a significant price increase, suggesting a correlation that may also influence CEG's performance. Overall, these factors reflect a positive sentiment surrounding Constellation Energy Corp in the market today.

RKT | +6.1% | +2.7B
Rocket Companies Inc | Commercial & Residential Mortgage Finance
Rocket Companies Inc experienced notable stock movement following former President Donald Trump's announcement of a plan to purchase $200 billion in mortgage bonds. This initiative, aimed at lowering mortgage rates and enhancing homeownership affordability, aligns closely with Rocket's business model centered on mortgage volume. The announcement, made 15 hours ago, led to a significant increase in the stock price during after-hours trading. In the pre-market session, the stock continued its upward trajectory, reflecting a rise of approximately 6%. Social media discussions have also highlighted the bullish sentiment surrounding Rocket, suggesting that the government's intervention may positively impact mortgage originators. Additionally, the iShares TIPS Bond ETF has recorded a return, which may correlate with the movement in Rocket's stock price.

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