Image Souce: Krish Capital Pty Ltd

Index Update

The chipmaker reported a 220% increase in AI revenue and issued stronger-than-expected revenue guidance. RH saw an 18% jump following positive revenue projections. However, U.S. equities declined, with the Dow down 0.53%, S&P 500 falling 0.54%, and Nasdaq down 0.66%, impacted by a higher-than-expected inflation report. UnitedHealth Group lost 3.3%, while Adobe dropped 13.7% due to a weaker 2025 outlook.

Market Movers

On Thursday, the top gainers were Trevi Therapeutics, Inc (+56.63%), followed by Liquidity Services, Inc (+20.00%). On the contrary, Keros Therapeutics, Inc. (-72.91%) and The Lovesac Company (-25.08%) declined the most the same day.

Commodities Update

Brent crude oil futures rose above $74 per barrel, reaching a three-week high with a 4% weekly gain, driven by optimism about higher demand due to China's economic stimulus and potential supply disruptions from US sanctions on Iran and Russia. Chinese crude imports rose in November, expected to stay elevated into 2025. However, the International Energy Agency forecasts supply growth from non-OPEC+ producers will outpace demand growth in 2025.

Macro Update

The 10-year US Treasury yield remained above 4.32% on Friday after rising for four consecutive sessions, as investors reduced expectations for Fed rate cuts in 2025. Markets are almost certain of a quarter-point rate cut next week. Data showed a higher-than-expected rise in the producer price index, while initial jobless claims unexpectedly climbed to 242K, above the forecasted 220K.

Futures Update

Nasdaq 100 futures rose 0.5% on Friday, driven by a 15% surge in Broadcom shares during after-hours trading. Bitcoin traded at $100,484 on Friday, December 13th, rising 0.41% from the previous session. Over the past four weeks, it gained 15.18%, and over the last 12 months, its price increased by 133.75%.

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