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Friday, January 2

Noteworthy macro moves today: Gold +1.3%. Nasdaq 100 Index (US) +1.1%. Platinum +5.0%. 

Global equity markets are trading higher as trading trends start the new year bullish.

In Europe, the eurozone manufacturing sector showed signs of contraction, with the HCOB Manufacturing PMI falling to 48.8 in December, below expectations and marking the sharpest decline since March. This has contributed to a weaker euro against major currencies, raising concerns about economic stability in the region.

Additionally, gold prices have risen by approximately 1.3%, reflecting increased demand for safe-haven assets amid ongoing geopolitical tensions and inflationary pressures. Overall market sentiment remains buoyed by optimism surrounding technology stocks and potential fiscal stimulus measures as new year trading begins.

iShares China Large-Cap ETF (FXI) [+3.1%]
The US State Department recently described China's military activities near Taiwan as unnecessary, urging Beijing to exercise restraint. This diplomatic position may have fostered a more favorable sentiment toward Chinese equities, including the iShares China Large-Cap ETF (FXI). In related news, Baidu's shares surged following its announcement to spin off and list its AI chip unit, Kunlunxin, on the Hong Kong Stock Exchange, which is expected to unlock significant value. Additionally, the Hong Kong Hang Seng index experienced notable gains, driven by strength in tech shares amid thin holiday trading volumes. Among FXI's holdings, JD and LI contributed positively to the ETF's performance with increased returns.

Bitcoin (BTC/USD) [+0.8%]
Bitcoin prices have increased as it approaches the $90,000 mark, following a notable decline in 2025. The U.S. dollar has weakened amid economic uncertainties and expectations for interest rate cuts from the Federal Reserve, potentially enhancing Bitcoin's appeal as an alternative asset. Social media discussions reveal that long-term holders have resumed accumulation, with a significant increase in supply noted. Additionally, an active CME gap at the $88,200 level has been highlighted, with historical trends suggesting a high likelihood of it being filled within a week. Furthermore, a report indicates that user Bitcoin holdings have slightly increased, totaling 130,000 BTC. Amid these developments, forecasts suggest that the bottom for Bitcoin may occur in Q1 2026, with expectations of a subsequent rally and potential new highs later in the year.

MU | +2.9% | +9.4B
Micron Technology Inc | Semiconductors
Micron Technology Inc has experienced a price increase of 2.9% since Wednesday, aligning with a broader market uptrend. The company's market capitalization stands at $322.02 billion, and it has demonstrated robust historical performance, outpacing the market over the past 15 years. A recent comparative analysis indicates that Micron's Price to Earnings ratio is below the industry average, suggesting potential undervaluation. The firm has reported strong revenue growth significantly exceeding industry norms, along with a favorable debt-to-equity ratio compared to peers. Social media discussions highlight Micron as a leading semiconductor stock for 2026, with analysts noting substantial demand for high-bandwidth memory products, which are driving earnings expansion. Additionally, the Nasdaq 100 Index has risen by 1.18%, reflecting positive sentiment in the tech sector that may be influencing Micron's recent price action.

STLA | +3.3% | +1.1B
Stellantis NV | Automobile Manufacturers
Stellantis NV has recently unveiled the 2027 Ram Power Wagon, featuring a 6.7-liter Cummins high-output turbo diesel engine that produces 430 horsepower and a class-leading torque of 1,075 lb.-ft. This model is designed to enhance towing and off-road capabilities, marking the first inclusion of the Cummins diesel in the Power Wagon lineup. Key features include front and rear electronic locking differentials, Bilstein shocks, and automatic leveling rear air suspension, all aimed at improving off-road performance. The starting price is set at $88,470, with availability expected in the second half of 2026. Additionally, the return of the Ram 1500 SRT TRX has been confirmed, boasting 777 horsepower from its supercharged HEMI® V-8 engine, reinforcing its position as the fastest and most powerful production gas pickup truck.

NIO | +4.1% | +456.4M
NIO Inc | Automobile Manufacturers
NIO Inc. reported significant delivery figures, achieving record monthly deliveries of 48,135 vehicles in December 2025, which reflects a year-over-year increase. For the fourth quarter, the company delivered 124,807 vehicles, marking a substantial rise compared to the same period in 2024. Total deliveries for the year reached 326,028 vehicles, up from the previous year. Cumulative deliveries approached 1 million, standing at 997,592 vehicles. The NIO All-New ES8 SUV surpassed 40,000 cumulative deliveries, setting a record among battery electric vehicles priced above 400,000 Chinese yuan in China. Additionally, NIO's CEO announced plans to launch three new models in 2026 and expand its Firefly brand into 40 countries. The establishment of the Yunnan-Tibet Battery Swapping Corridor and new vehicle purchase tax incentives were also highlighted. Meanwhile, Baidu Inc. experienced a notable price movement that may correlate with NIO's recent performance.

BABA | +3.8% | +112.7B
Alibaba Group Holding Ltd | Broadline Retail
Alibaba Group Holding Ltd's stock has increased by nearly 4% since Wednesday, with a premarket update showing U.S.-listed shares of Chinese firms also rising. Analysts have forecasted a potential 40% upside for Alibaba, driven by anticipated gains in cloud computing and artificial intelligence, despite ongoing margin pressures in its core retail segment. Social media discussions highlighted Alibaba's attempt to break out of a descending wedge pattern, with a strong bounce noted off a support level for the Hang Seng Tech Index. The index closed near its intraday high, up 4%, coinciding with Alibaba's rise of approximately 4.3%. Additionally, there are expectations for crucial mainland investor net flows into Hong Kong, which may influence Alibaba's performance today. Baidu Inc has experienced a significant price increase, which could reflect broader market sentiment impacting Alibaba as well.

BIDU | +10.4% | +42.2B
Baidu Inc | Interactive Media & Services
Baidu Inc (BIDU) has experienced a notable increase in its stock price, rising significantly since the announcement of a proposed spin-off and separate listing of its AI chip unit, Kunlunxin, via an IPO on the Hong Kong Stock Exchange. A confidential listing application has been submitted, aiming to attract investors focused on AI chips while Kunlunxin will remain a subsidiary post-transaction. Following this news, BIDU shares rose by 8% overnight, with further reports indicating an increase of over 11% after the announcement. Analysts have highlighted that Jefferies raised its price target for BIDU from 159 to 181, contributing to the positive market reaction. The stock is currently trading around 146.50, reflecting strong momentum amid heightened interest in AI technology within China.

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