- The US stock market is showing post-holiday weakness today, with more significant losses seen across all major indices. The S&P 500 is down 1.5%, the Dow Jones has dropped 1%, and the Nasdaq 100 is losing around 1.8%.
- Weakness is particularly visible in the Magnificent Seven. All seven Big Tech stocks are declining, with Tesla taking the largest hit, falling nearly 5%. Apple, after nearing the $4 trillion market cap threshold, is also down, losing 1.6%.
- Stocks related to quantum computing technologies continue their rally. Rigetti Computing leads the gains, rising more than 14% and reaching a new all-time high.
- US 10-year Treasury yields broke above the 4.6% barrier. The movement in yields has pushed bond prices to their lowest levels since late May. If yields exceed 4.62%, they will approach the highest levels seen since the April peaks, which were also the highest this year.
- In European markets, there’s a bit more optimism. The post-holiday rebound is visible in the CAC40, which is up 1%, the Swiss SMI, gaining 0.9%, and the German DAX, which is up 0.7%.
- Spain reported significantly weaker retail sales growth in November than expected. Year-over-year sales increased by 1% (forecast: 3%, previous: 3.5%).
- The cryptocurrency market had a mixed session. Bitcoin fell below 94,500 (-1.15%) despite renewed positive inflows into Bitcoin ETFs (+$469 million). Solana also dropped (-1.25%), while Ethereum managed to post gains (+0.8%).
- Among G10 currencies, the Swedish krona (SEK spot: +0.4%) and the British pound (GBP spot: +0.32%) are the strongest today. The US dollar is seeing only slight corrections (USDIDX: -0.09%), while the Canadian dollar is down 0.15%, pressured by recent remarks from Donald Trump suggesting Canada could become a US state to avoid tariffs.
- Gains are predominant on the commodities market, with volatility driven mostly by the EIA report release. NATGAS is up 0.8%, OIL.WTI adds 1.3%, and OIL contracts are trading 1.2% higher.
- Crude oil inventories fell much more than expected last week (-4.24 million barrels; forecast: -600k; previous: -934k).
- Weekly natural gas inventory changes came in below forecasts (-93 billion cubic feet; forecast: -99 billion; previous: -125 billion).
- Japanese economic data points to an environment supporting a potential rate hike scenario. CPI inflation rose to 2.4% (compared to 2.2% in the previous month), while the unemployment rate remained unchanged at 2.5%.
- All major precious metals are weak today. Gold contracts are down over 0.5%, silver is losing nearly 1.3%, and platinum leads the declines, falling by 1.7%.
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
