On Friday, the three major U.S. stock indices closed lower, although the S&P 500 reached an intraday peak of 6,945.77 points, setting a new intraday record high. For the week, the Dow Jones Industrial Average gained 1.2%, the Nasdaq Composite rose 1.22%, and the S&P 500 advanced 1.4%, marking its fourth weekly gain in the past five weeks. At the close, the Dow was down 20.19 points, or 0.04%, at 48,710.97; the Nasdaq fell 20.21 points, or 0.09%, to 23,593.10; and the S&P 500 declined by 2.11 points, or 0.03%, to 6,929.94. Among individual stocks, NVIDIA (NVDA) rose 1.02%, Tesla (TSLA) fell 2.1%, Broadcom (AVGO) gained 0.55%, and Apple (AAPL) dipped 0.15%.
In Asian markets, Japan's Nikkei 225 index increased by 0.68%, South Korea's KOSPI index rose 0.51%, while India's BSE SENSEX index declined by 0.43%.
The U.S. dollar index, which measures the greenback against a basket of six major currencies, rose 0.15% on the day to settle at 98.063.
In the cryptocurrency market, Bitcoin edged up 0.31% to $87,494.88, after touching an intraday low of $86,653; Ethereum gained 0.94% to $2,931.32. Matrixport released a weekly report noting that Bitcoin has continued to retreat since mid-October, with market sentiment turning cautious. As discussions about the "four-year cycle" re-emerge, many traders speculate that 2026 might still be a period of pressure. Recently, Bitcoin has faced sustained pressure amid converging volatility, deleveraging, and a lack of risk appetite. However, indicators from derivatives, ETFs, and key technical levels suggest a shift in positioning structure. Historically, markets tend to become more conservative towards year-end, but sentiment can reverse unexpectedly after the new year begins, fueled by fund reallocation and restored risk budgets. Current technical structures indicate a marginal slowdown in downward momentum, yet a clear consensus for an upward move has not formed. Against this backdrop, the market may transition from a phase dominated by "downside risks" to a stage characterized by "limited downside, but upside still requiring catalysts." Furthermore, with the largest-ever Bitcoin options expiration approaching, the distribution of strike prices is becoming a crucial window for observing market stress and potential opportunities.
In precious metals, spot gold rose 1.12% to $4,531.1, after reaching an intraday high of $4,549.95; spot silver surged over 10% to $79.212, hitting a record intraday high of $79.338. Despite the silver frenzy, some analysts still view gold as a safer investment. Goldman Sachs economists stated in an October report that, compared to gold, they expect silver to face "greater volatility and downside price risks." Analysts pointed out that gold is a more practical investment for banks due to its greater scarcity, higher value per ounce, and easier transport and storage. Some analysts note that silver prices often exhibit cyclical rises and falls. Brent Donnelly, President of Spectra Markets, remarked, "Silver is a product that tends to go parabolic and then crash." Other analysts believe silver will continue to rise, at least during the new year period. Peter Reagan, Financial Market Strategist at Birch Gold Group, stated, "For silver, while there are no guarantees, rising economic uncertainty and persistent inflation suggest we could see higher prices and stronger demand in the new year."
WTI crude oil for February delivery settled at $56.74 per barrel, down 2.8% from Wednesday's close. Brent crude for February fell 2.6% to settle at $60.64 per barrel.
Institutional analysis suggests a strong upward trend for gold and silver, with silver potentially reaching $80 by year-end. Boosted by expectations of Federal Reserve interest rate cuts and heightened geopolitical tensions increasing safe-haven demand, silver prices broke above $76 for the first time on Friday, surging as much as 6% intraday; gold and platinum prices also hit record highs. Peter Grant, Vice President and Senior Metals Strategist at Zaner Metals, stated that expectations for further Fed policy easing in 2026, a weaker dollar, and escalating geopolitical tensions are driving price movements in thin markets. Although there is a risk of some profit-taking before year-end, the upward trend remains robust. It is possible for silver to reach $77, or even $80 per ounce, by year-end. For gold, the next target is $4,686.81 per ounce, with $5,000 likely achievable in the first half of next year.
Japan may achieve its first primary budget surplus in 28 years during the 2026 fiscal year. Prime Minister Sanae Takaichi stated that the primary balance is expected to return to surplus for the first time in 28 years, a move apparently aimed at easing market concerns over her government's aggressive fiscal spending stance. Takaichi told reporters on Friday, "The government's initial budget will achieve the first primary balance surplus since 1998." This followed the cabinet's earlier approval of a record 122.3 trillion yen (approximately $782 billion) annual budget for FY2026. "I believe the budget we have formulated strikes a balance between achieving a robust economy and ensuring fiscal sustainability," she added. According to Ministry of Finance data, the primary balance at the government level is projected to show a surplus of 1.34 trillion yen in the budget for the fiscal year starting next April. Official data from the Cabinet Office, incorporating information from local governments, is expected to be released next month.
Google will allow users to change their Gmail email addresses. According to updated information on Google's (GOOGL, GOOG) support page, the company will begin allowing users to change their Gmail addresses. Users will be able to change their original address ending in @gmail.com to a new one also ending in @gmail.com without affecting their account data. The original address will be set as an alias, allowing users to receive emails at both the old and new addresses. After the change, users will not be able to modify their address again for 12 months.
Coinbase Global, Inc. (COIN) was named one of the top three fintech stocks for 2026 by Clear Street analysts, with a price target of $415. Clear Street analyst Owen Lau, in a recent outlook report, identified Coinbase as a key player poised to benefit from the transformation of blockchain financial infrastructure. Lau maintained a "Buy" rating on Coinbase, setting a 12-month price target of $415, implying approximately 70% upside from the current price of around $234.5. Lau noted that Coinbase is "best positioned to benefit from blockchain adoption and regulatory clarity," with growing revenue from subscription services, stablecoin activities, and on-chain financial services. Specifically, the USDC stablecoin, operated in partnership with Circle (CRCL), from which Coinbase receives about a 50% revenue share, is a key growth driver.
AI is fueling growth momentum in cybersecurity, with Wedbush betting on CrowdStrike Holdings, Inc. (CRWD) to hit new highs in 2026. Wedbush published a research report stating that key cybersecurity player CrowdStrike Holdings Inc. is one of the best investment vehicles for "betting on the intersection of cybersecurity and AI" in 2026. The firm maintained its "Outperform" rating and a price target as high as $600 on the cybersecurity service provider's stock, adding that CrowdStrike is set to be a core winner on Wedbush's IVES AI 30 list for 2026.
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