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Europe faces a precarious future as demands for increased military spending threaten social stability, while the influence of the US looms large. The region is in chaos, with rising discontent towards elites and a potential loss of sovereignty, as economic and political challenges mount. The EU's stability is questioned amid financial strains, and the prospect of a new geopolitical order led by figures like Trump and Musk raises concerns about Europe's role on the global stage.
U.S. stocks rose on Tuesday during a shortened trading session ahead of the Christmas holiday, with the S&P 500 climbing 1.10%. The market's positive momentum suggests a potential Santa rally, while bonds experienced some selling activity.
Stocks have experienced a remarkable performance in 2024, yet the S&P 500 faces the risk of a rare loss in December. The outcome hinges on the anticipated Santa Claus rally, which could determine the index's year-end trajectory.
US stocks edged higher on Tuesday, driven by gains in the tech sector, as the market entered the historically bullish Santa Claus trading window. The stock market will close early at 1 p.m. for Christmas Eve and remain closed on Christmas Day. Investors are awaiting initial jobless claims data set to be released on Thursday.
UBS forecasts short-term copper prices to range between $8,500 and $9,000 per tonne, influenced by US tariffs and political dynamics with China. A slight market deficit of 250,000 tonnes is expected next year, with prices projected to rise to $10,000 to $11,000 per tonne in 2025, driven by anticipated interest rate cuts and a recovery in industrial production.
UBS forecasts short-term copper prices to range between $8,500 and $9,000 per tonne, influenced by US tariffs and political dynamics with China. A slight market deficit of 250,000 tonnes is expected in 2025, with prices potentially rising to $10,000-$11,000 as global industrial production recovers in the latter half of the year.
BRICS is moving towards establishing a G20-like structure to enhance cooperation and address alliance-specific issues, as highlighted by Brazilian Foreign Minister Mauro Vieira. The bloc aims to expand its influence, particularly after adding 13 new partner countries, while focusing on local currency trading rather than creating an official BRICS currency. This initiative seeks to counter Western dominance and strengthen ties among member nations amidst geopolitical tensions.
Asian stock markets experienced slight gains amid limited movements due to public holidays. Despite promises of support from Beijing, China faces significant challenges, including a faltering recovery and a real estate crisis that has undermined consumer confidence. Experts warn that without substantial reforms, the economic outlook for 2025 remains bleak.
U.S. markets kicked off the last trading week of the year with gains, led by strong performances from major tech stocks. Meanwhile, Nissan and Honda announced merger discussions, potentially creating a $191.4 billion entity. Taiwan's Taiex emerged as Asia-Pacific's top stock market performer in 2024, driven by tech stocks like TSMC and Foxconn.
US stocks rose on Monday, driven by a rally in chipmakers, with Nvidia up 3%, Broadcom gaining 5%, and Advanced Micro Devices increasing by 4%. Investors are anticipating a potential Santa Claus rally, which historically indicates positive market trends for the following year. The NYSE will have a short trading day on Tuesday, closing at 1 p.m. ET for the Christmas holiday.
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