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Market U.S. stocks closed mixed on January 8th, with the Dow and S&P 500 retreating after hitting new record highs. Among the top 20 U.S. stocks by trading volume on January 8th, Alphabet, the parent company of Google, saw its market capitalization exceed that of Apple. Most popular U.S.-listed Chinese stocks fell, with UMC gaining 10.04% and Full Truck Alliance dropping 7.67%. Oil prices fell on Wednesday as the market digested statements from Donald Trump regarding Venezuelan oil exports. Spot gold declined by 0.90% to $4,454.32 per ounce. European stock markets closed steady, with weaker oil prices dragging down the energy sector.
Macro Donald Trump has decided to sharply increase the 2027 military budget to $1.5 trillion. Trump stated he would prohibit Wall Street from investing in single-family homes. The U.S. Bureau of Economic Analysis will use the average of September and November CPI data to calculate the October PCE figure. Trump announced that revenue from Venezuelan oil will be used exclusively to purchase American goods. The United States has begun selling Venezuelan oil globally. The White House Press Secretary confirmed that Trump will meet with oil company executives on Friday. U.S. officials stated they will indefinitely control Venezuelan oil exports. Trump has demanded that defense contractors ramp up production and R&D spending, while halting stock buybacks and dividend payments. Trump declared he will not allow defense companies to pay dividends or conduct buybacks unless they resolve equipment production issues. The U.S. is seeking a rapid reset of relations with Venezuela and preparing to reopen its embassy in Caracas. U.S. House Speaker Johnson indicated the State of the Union address is tentatively scheduled for around February 24th. The White House Press Secretary stated that "all options are on the table" regarding the Greenland issue. The U.S. announced the seizure of a stateless oil tanker in international waters. U.S. personal income and spending data for October and November will be released on January 22nd. A senior Danish official expressed hope to meet with Senator Rubio to ease the Greenland dispute through diplomatic channels. Zelenskyy expressed hope that the Russia-Ukraine conflict could end in the first half of 2026.
Company OpenAI launched ChatGPT Health to provide users with health information. Trump threatened to cut off government business with Raytheon. JPMorgan Chase reached a deal to take over Apple's credit card business. AbbVie is in advanced talks to acquire cancer drug manufacturer RevMed. Anthropic is planning to raise $10 billion at a valuation of $350 billion. Venezuela's state-owned oil company PDVSA stated it is negotiating with the U.S. to sell crude oil. Trump's proposal to ban institutional investors from buying single-family homes caused Blackstone's stock to plummet. Google Classroom introduced a new tool leveraging Gemini to convert teaching materials into podcast programs. GameStop disclosed a $35 billion compensation package for CEO Ryan Cohen. Siemens and Nvidia expanded their partnership in industrial artificial intelligence. Hyundai Motor set a 2028 deployment plan for robotics. Several automotive brands surpassed 2 million annual vehicle sales in the U.S., with Toyota and General Motors showing strong SUV performance.
Commentary Trump questioned whether NATO would provide defensive support for the United States. Funds are eyeing Venezuelan assets, focusing on potential restructuring and asset recovery. Russia's Transport Ministry stated that a Russian-flagged tanker has lost contact after being seized by the U.S. Prediction markets indicate a low probability of Trump acquiring Greenland this year. Copper prices retreated from record highs as the rapid rally triggered profit-taking. The oil tanker seized by the U.S. over Venezuelan sanctions was recently registered and flies the Russian flag. The Greenland dispute continues to simmer as Trump again questioned NATO's role. The U.S. Energy Secretary stated that Venezuela's debts to Exxon and ConocoPhillips are not a top priority. A year after compromising with Trump, Europe has drawn a red line on the Greenland issue. Bitcoin reclaimed the $90,000 level, although the foundation for the upward trend remains fragile. Yang Yuanqing: Lenovo's global advantage is the foundation for sponsoring the World Cup and F1 events | Live from CES. Yang Yuanqing: The AI era has no winner-takes-all dynamic; Lenovo aims to leverage its strengths through open collaboration | Live from CES. Yang Yuanqing: AGI is still a long way off; AI that empowers people is good AI. Yang Yuanqing: Marketing by tech companies must be backed by innovation strength | Live from CES. Commodities Summary: Oil prices extended losses, LME copper plunged, while silver and platinum fell sharply. U.S. Stock Market: The bull market paused as a flurry of posts from Trump impacted markets. U.S. Bond Market: Weak ADP employment data pushed most Treasury prices higher, flattening the yield curve. New York Forex Market: The U.S. dollar edged higher as markets digested mixed economic data. European Bond Market: Gains in German bunds narrowed, influenced by Italy's bond issuance plans.
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