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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
The Nasdaq remains in a strong uptrend, with key support levels at 19,000 and 21,000, despite potential rate cut implications from core CPI data. The ASX 200 faces fluctuations influenced by China's stimulus and the RBA's dovish stance, with a possible pullback to 8200 if support at 8350 is breached.The Australian dollar is under pressure, trading below $0.64, while Bitcoin recently peaked at 103,000 but is expected to pull back to around 90,000, with year-end predictions around 95,000. Gold's rally is inconsistent, with traders eyeing buying opportunities near the 200-day moving average around 2500.
Warner Bros. Discovery, Inc. will present at the UBS Global Media and Communications Conference on December 10, 2024, starting at 12:00 PM ET. Interested parties can access the live webcast at https://ir.wbd.com/.
M&A activity in Europe remains predominantly domestic, with hopes for a shift towards greater unification influenced by changes in the US. Cultural fit is often overlooked in deal-making, yet it plays a crucial role in successful integrations, as seen in recent acquisitions like UBS's of Credit Suisse. Predictions for 2025 suggest a more active market, with increased valuations and a functioning IPO market providing alternative exit strategies for private equity firms.
Art Basel Miami kicked off with an exclusive dinner hosted by UBS, featuring a panel discussion titled "UBS Let’s Talk Legacy: Crafting the Future of Cultural Impact." Moderated by Wale Ogunleye, the panel included former NBA star Amar’e Stoudemire, textile artist Bisa Butler, and curator Larry Ossei-Mensah, focusing on the intersection of sports, visual arts, and philanthropy. The event highlighted art's role as a cultural bridge and a means of legacy-building.
AT&T Inc. will present at the UBS Global Media & Communications Conference on December 10, 2024, starting at 8:15 AM ET. The event will be accessible via a live webcast at https://investors.att.com/news-and-events/events-and-presentations.
The NASDAQ 100 has edged lower after reaching a record high, finding support near the 50-day SMA at 20,717, with potential losses targeting the post-election low of 20,350. The Dow continues its gentle pullback, with a critical level at 44,400, while the Nikkei 225 gained slightly, supported by China's policy shift, yet struggles to close above 40,000. A drop below 38,500 could signal a test of recent lows around 38,000.
The US dollar strengthened, trading at CHF 0.8827, while the euro weakened to 1.0502 against the dollar. Market activity remains subdued ahead of key US price figures and interest rate decisions from the SNB and ECB on Thursday, with expectations of a 25 basis point cut.
Australia has become the first country to eliminate Additional Tier 1 (AT1) bonds as bank capital, a decision made by the Australian Prudential Regulation Authority (APRA) to enhance crisis management. Starting January 1, 2027, large banks can replace 1.5% AT1 capital with 1.25% Tier 2 and 0.25% Common Equity Tier 1 capital, while smaller banks can fully substitute AT1 with Tier 2. This move follows lessons learned from the 2023 banking turmoil, including the collapse of Credit Suisse, highlighting the inadequacies of AT1 in crisis situations.
AllianceBernstein plans to sue Switzerland for $225 million over the $17 billion wipeout of Credit Suisse's AT1 bonds, arguing that the Swiss government favored shareholders while leaving debt investors empty-handed. This lawsuit could impose significant financial stress on Swiss taxpayers, reminiscent of past bailouts where UBS benefited while the public bore the costs. The Ministry of Finance has engaged Wachtell law firm for defense, raising questions about the influence of UBS in the proceedings.
Dairy product prices from New Zealand have decreased, with butter dropping 4.7% to an average of 6,357 euros per tonne at the latest Global Dairy Trade auction. In Germany, however, butter prices remained stable at 8.10 to 8.20 euros/kg, while skimmed milk powder saw a slight decline. Whole milk powder prices in Germany also fell, contrasting with a rise in New Zealand.
Global Financial Events
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05:47 11.12.2024
17:02 10.12.2024
The Goldman Sachs Group, Inc.
Deutsche Bank RV Global PP
Simone Peach
Mario Draghi
Cristina Eustace
Alison
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16:54 10.12.2024
14:19 10.12.2024
13:17 10.12.2024
10:03 10.12.2024
United States Dollar
Euro
Swiss Franc
Lonza Group AG
RICHEMONT, Intellectual Property Services
Givaudan SA
The Swatch Group AG
CHE
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08:12 10.12.2024
07:56 10.12.2024
United States Dollar
AllianceBernstein Holding L.P.
Credit Suisse Real Estate Fund Siat
CHE
Marlene Amstad
Lukas Gähwiler
Sergio Ermotti
Colm Kelleher
Karin Keller-Sutter
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07:52 10.12.2024
06:23 10.12.2024
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Apple Inc.
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