Image Source: Krish Capital Pty Ltd

Index Update

Stocks open 2025 on a down note as the S&P 500 (-0.1%), Nasdaq (-0.2%), and Dow Jones (-110 points) extend the late 2024 slump. After a stellar 2024 (+23% for the S&P 500), stocks end the year with a rare 4-day losing streak—first since 1966. Meanwhile, US mortgage rates hit 6.97%, cooling homebuyer demand, but jobless claims fell to their lowest level since April (211K)

Market Movers

Major techs led the way down: Apple -3%, Tesla -6% (due to delivery drop & Cybertruck explosion), though Nvidia gained 1.7%.

Commodities Update

Gold steadies at $2,650/oz, supported by safe-haven demand & central bank purchases amid rising geopolitical tensions. Silver climbs above $29.7/oz, mirroring gold's rise. Brent crude hits $76/barrel, fueled by China’s growth optimism & falling US inventories.

Macro Update

US Central Bank balance sheet falls to $6.89T on Dec 25, down from $6.89T the prior week. Meanwhile, FAO Food Price Index drops 0.5% in December, led by a 5.1% drop in sugar. Meat prices rise 0.4%, while 2024 avg. index is 2.1% lower than 2023.

Futures Update

US stock futures tick up slightly after major indices extended losses in the first trading session of the year. Dow -0.36%, S&P 500 -0.22%, Nasdaq -0.16%. Tesla drops 6.1%, Apple -2.6%, while Nvidia (+3%) and Meta (+2.3%) buck the trend. Eyes on Friday's ISM Manufacturing data

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