1. Asian Stocks Gain After US Extends Year-End Rally: Markets Wrap
Most Asian stocks rose after big tech firms helped US equities extend this year’s rally on Tuesday. Trading was relatively thin in the region with several markets still shut for holidays. The MSCI Asia Pacific Index headed for a fourth day of gains, the longest winning streak since September, led by Japan and Taiwan. Japanese shares also rallied after central bank governor Kazuo Ueda avoided giving any clues about an interest-rate hike. Financial markets in Australia and Hong Kong are still closed for the Christmas break.
2. Gold gains on weak dollar, geopolitical turmoil; Fed, Trump’s 2025 policies in focus
Gold gained on Thursday in light holiday trading, boosted by slight weakness in U.S. dollar and geopolitical tensions, as investors eyed Federal Reserve’s 2025 rate strategy and Trump’s tariff policies, which could shape the metal’s trajectory next year. Spot gold rose 0.5% to $2,626.10 per ounce, as of 0246 GMT. Bullion has risen 27% this year and is on track for its best performance since 2010, driven by major Fed cuts and heightened geopolitical uncertainties.
3. Oil prices edge higher on hopes for more China stimulus
Oil prices edged higher on Thursday in thin holiday trading, driven by hopes for additional fiscal stimulus in China, the world’s biggest oil importer, while an anticipated decline in U.S. crude inventories also provided support. Brent crude futures rose 11 cents, or 0.2%, to $73.69 a barrel by 0148 GMT. U.S. West Texas Intermediate crude was at $70.25 a barrel, up 15 cents, or 0.2%, from Tuesday’s pre-Christmas settlement.
4. Japan stocks rise as government reportedly set to propose record budget
Asia-Pacific stocks were mostly up Thursday, with several markets remaining closed for Boxing Day. Japan’s Nikkei 225 rose 1.08%, while the Topix added 1.07%, a day after a report said the country was preparing a record $735 billion budget for its fiscal year starting in April. The budget will account for increased social security and debt-servicing expenses, a draft reviewed by Reuters revealed.
5. Nvidia sees ‘remarkable’ influx of retail investor dollars as traders flock to AI darling
Retail traders sent almost $30 billion into Nvidia shares this year on balance, according to Vanda Research. It’s the latest honor for the mega cap tech stock, which has shown leadership within artificial intelligence that has dazzled both Wall Street and Main Street. Net inflows for Nvidia have seen a nearly nine-fold jump from 2021, Vanda data shows.
6. AI and crypto drove gains in this year’s top 5 tech stocks
Artificial intelligence was the story of the tech market in 2024 and was the catalyst behind some of the biggest individual gains. Crypto was the other big driver, particularly after Donald Trump’s election victory in November. While AppLovin had the biggest percentage gain, Nvidia added by far the most market cap, increasing in value by $2.2 trillion.
7. Russia Unleashes Another Wave of Attacks on Ukraine
Moscow again struck Ukraine’s energy infrastructure, part of an effort to wear down the country. Air-raid alarms and explosions sounded on Christmas Day in Ukraine as Russian missiles and drones targeted the nation’s energy infrastructure. “Today, Putin deliberately chose Christmas for an attack,” President Volodymyr Zelensky of Ukraine said in a statement. “What could be more inhuman?” Before dawn on Wednesday, Russia directed more than 70 cruise and ballistic missiles and 100 strike drones, Ukrainian officials said.
8. China Debuts First Polysilicon Futures After Huge Price Swings
China’s first polysilicon futures debuted on Thursday, as a new hedging tool for a market that has been struggling with massive price volatility. China is the world’s biggest producer of polysilicon, a key material in solar panels, but the industry is contending with a huge surplus that has seen prices tumble nearly 90% over the past two years. Like other parts of the solar supply chain, far too much capacity has been built relative to demand, which has slashed profitability.
9. Cyberattack on Japan Airlines causing some delays
Japan Airlines says it has come under a cyberattack that is causing delays for some of its domestic and international flights. The airline says it experienced a sudden surge in traffic on its network equipment used for data communication with external systems from around 7:24 a.m. on Thursday. JAL says this has led to glitches in its systems, including one for managing passenger baggage.
10. Netflix Set For $150 Million NFL Christmas Test as Stock Heads to Best Year Since 2015
Netflix paid the NFL $150 million for rights to the Wednesday games, according to The Wall Street Journal. That hefty sum followed high ratings on 2023’s trio of nationally televised Christmas games, each of which ranked in the U.S.’ top 20 broadcasts of the year. The Christmas NFL games will be the first mainstream American team sporting events on Netflix, which has made a splash for its push into live sports. Netflix aired last month a boxing match between influencer Jake Paul and the 58-year-old former heavyweight champion Mike Tyson and later secured the rights to the next two FIFA Women’s World Cup tournaments. The company announced in January it will air the WWE’s weekly wrestling program “Raw” for a reported $5 billion over the next decade.
11. Taiwan Blocks Uber’s $950 Million Takeover of Local Food panda Business
Taiwan has blocked Uber Technologies’ UBER -0.26%decrease; red down pointing triangle planned $950 million takeover of Food panda’s local delivery business on anticompetition concerns, thwarting the U.S. company’s efforts to expand in Asia. Taiwan’s Fair-Trade Commission said Wednesday that competition pressure on Uber’s food-delivery unit in Taiwan stems mainly from Food panda, and that eliminating that dynamic would incentivize Uber to raise prices for consumers and eateries on its platform.
12. Dollar edges higher as Fed rates view sets direction
The dollar edged higher on Tuesday in thin holiday trading as the expected slower path of interest rate cuts from the U.S. Federal Reserve compared with other global central banks continued to command market direction. The greenback has jumped more than 7% since the end of September, powered in part by growing expectations the U.S. economy will see accelerated growth under policies from President-elect Donald Trump, while sticky inflation has dampened expectations on how aggressive the Fed will be in reducing interest rates.