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Monday, December 15

Noteworthy macro moves today: Copper +2.3%. Bitcoin +1.6%. Gold +1.0%. 

Global equity indices are trading higher as markets react to a mix of economic data releases and central bank expectations. The NY Empire State Manufacturing Index reported a significant drop to -3.9, well below the forecast of +10.0, raising concerns about an economic slowdown in the manufacturing sector, which has negatively impacted market sentiment.

In contrast, Eurozone industrial production rose by 0.8% month-on-month in October, matching expectations and signaling potential recovery in the region's manufacturing sector. This positive data contributed to gains in European equity indices, while the Bank of Japan's Tankan survey indicated improved business sentiment among large manufacturers, reinforcing expectations for a rate hike at their upcoming meeting.

Additionally, gold prices have surged nearly 1% amid a weaker U.S. dollar and geopolitical tensions, reflecting increased demand for safe-haven assets as investors await key inflation and employment data later this week. Overall market reactions indicate cautious optimism despite mixed signals from recent economic indicators across major economies.

Bitcoin (BTC/USD) [+1.5%]
Bitcoin has increased by 1.5% as of Monday, amid a backdrop of cautious sentiment in the cryptocurrency markets following the Federal Reserve's recent interest rate cut of 25 basis points. MEXC's Proof of Reserve report has confirmed a BTC coverage ratio of 141%, which may bolster trust among users concerned about exchange solvency. Social media discussions reveal that Bitcoin has fallen below $90,000, coinciding with the final full trading week of the year for US investors. Notably, Bitcoin's realized losses have surged to approximately $555 million, the highest level since the FTX collapse. Additionally, there are indications that oil wealth is shifting into Bitcoin, with Gulf sovereign funds and private banks increasing their investments through spot ETFs. Ethereum has also seen a notable increase, which may be contributing to Bitcoin's recent price movement.

SPDR Gold Shares (GLD) [+0.9%]
SPDR Gold Shares (GLD) has experienced a price increase of 1.1% since Friday. A recent report from RBC, published 40 minutes ago, outlines a gold strategy for 2026-2027, which may offer insights into future gold price expectations. Social media discussions highlight notable movements in gold prices, with one post indicating that GLD closed above the top of the volume shelf earlier in the week, suggesting potential for further gains. Additionally, recent posts noted that spot gold prices rose nearly 1%, reaching approximately $4,342.87 per ounce. Central bank purchases of precious metals remain strong despite volatility in October, reflecting ongoing institutional interest. Furthermore, GLD is reportedly outperforming the Nasdaq, raising concerns about inflation amidst historical patterns similar to those during the tariff wars in April. Silver has also seen a significant increase, which may correlate with movements in GLD.

TM | +3.5% | +101.1B
Toyota Motor Corp | Automobile Manufacturers
Toyota Motor Corp has recently been highlighted in discussions surrounding significant capital investments in the U.S. President Trump has claimed that Toyota plans to invest $10 billion in building plants within the country, as part of a broader narrative on reshaping global business decisions through tariffs. Concurrently, social media conversations reveal that Subaru, a Toyota engineering partner, has reportedly outsold Tesla in the U.S. for 2024 and 2025. This follows Subaru's launch of three times more all-new electric vehicles since 2020, including the compact Subaru Uncharted EV, which is noted for its performance. Additionally, there are claims that Tesla owners are switching to Toyota's hybrids due to issues with Tesla's Full Self-Driving technology and battery performance in colder climates.

ARGX | -5.9% | -2.9B
argenx SE | Biotechnology
Argenx SE has announced the discontinuation of its Phase 3 UplighTED studies evaluating efgartigimod subcutaneous for moderate to severe thyroid eye disease. This decision follows a recommendation from an Independent Data Monitoring Committee after a futility evaluation of interim data. The trials, which aimed to assess the drug's efficacy and safety, showed no new safety signals. Originally, primary completion was anticipated in the second half of 2026. Following the closure of the studies, Argenx plans a comprehensive analysis of the data and intends to share findings at a future medical meeting. The announcement has coincided with a notable decline in share price, with premarket trading reflecting a drop of 6.2%. Social media discussions have surfaced concerns about the company's pipeline, particularly regarding the Vyvgart treatment for thyroid eye disease, affecting a patient pool of approximately 100,000 in the U.S.

TLRY | +4.1% | +429.9M
Tilray Brands Inc | Pharmaceuticals
Shares of Tilray Brands Inc. have risen significantly following reports that President Trump is expected to issue an executive order aimed at reclassifying marijuana from Schedule I to Schedule III. This potential change could ease federal restrictions and facilitate research, although it would not legalize or decriminalize marijuana. The announcement has already led to notable gains for cannabis stocks, with Tilray experiencing a substantial increase on the day of the report. Retail sentiment on platforms such as Stocktwits has turned extremely bullish, reflecting heightened enthusiasm. Social media discussions indicate optimism surrounding the anticipated executive order, with users expressing excitement about the potential easing of regulations. Additionally, Tilray is pursuing efforts to reclassify cannabis for medical purposes, currently categorized alongside Class A drugs. Recent social media posts have noted a significant surge in Tilray's stock price, attributed to the positive reaction to these potential regulatory changes.

NOW | -5.5% | -9.2B
ServiceNow Inc | Systems Software
ServiceNow Inc. is reportedly in advanced discussions to acquire Armis for as much as $7 billion, according to multiple sources, including Bloomberg. This potential acquisition has led to concerns, prompting KeyBanc to downgrade its rating on ServiceNow from Sector Weight to Underweight, with a price target set at 775. Following this news, ServiceNow shares fell approximately 4% in premarket trading. Additionally, the downgrade was highlighted on social media shortly after it was announced during trading hours.

BMY | +2.5% | +2.8B
Bristol-Myers Squibb Co | Pharmaceuticals
Bristol-Myers Squibb Co has experienced a price increase following an upgrade from Neutral to Buy by BOFA Securities, which revised its price target to 61.00 from 52.00. This upgrade, reported approximately 24 hours ago, reflects a positive reassessment of the company's prospects. Additionally, a recent social media post discussed a buy-and-hold portfolio strategy that includes Bristol-Myers Squibb Co among other stocks, projecting a potential monthly income of 5,500 over the next decade. The post emphasizes diversification across various sectors to achieve market-matching growth and a 6% income yield while maintaining lower technology exposure compared to the S&P 500.

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