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During today’s cash session, technology stocks — especially semiconductors — once again took center stage. Major U.S. indices are trading lower: US500 is down 0.65%, US100 drops 1.16%, and US2000 is down 0.40%.
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The biggest decliners are popular technology names, particularly those tied to the AI sector — Oracle (-5.5%), Broadcom (-5.9%), Nvidia (-3.3%), ASML (-4.8%), and Alphabet (-2.2%).
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The U.S. dollar index gains 0.10%. EURUSD is flat at 1.17. On the opposite side sit JPY, GBP, and AUD.
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Persisting geopolitical and economic uncertainty continues to support precious metals. Gold is up 1.00% to 4,345 USD. Silver has surged to new all-time highs, jumping 4.80% to 66.80 USD. Palladium rises 2.40% to 1,613 USD, and platinum climbs 3.66% to 1,900 USD — also a historic record. Platinum is now up 113% year-on-year.
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The threat of a Venezuelan naval blockade and new sanctions on Russia are driving an oil rebound from nearly 5-year lows. Crude rises 2% after Trump announced plans for a naval blockade of Venezuela and new sanctions on Russia’s “shadow fleet.” The price now depends on Putin’s response to Berlin’s peace proposal — rejecting the plan could trigger immediate U.S. restrictions.
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Oracle’s ambitious $10 bn AI data-center project in Michigan has been thrown into doubt after financing talks with key partner Blue Owl Capital collapsed. Blue Owl — which financed Oracle’s largest U.S. data-center projects — withdrew after lenders demanded stricter lease and debt terms.
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Micron (MU.US) will report earnings after the close. Investors see today’s release as an important gauge of AI-related semiconductor demand. As a memory supplier for Nvidia’s servers, Micron sits at the core of the demand wave. Guidance will be closely watched.
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Lennar (LEN.US), one of the largest U.S. homebuilders, posted fiscal Q4 2025 results that somewhat disappointed investors. Despite maintaining strong sales levels, earnings came in below consensus, and the company’s outlook suggests further slowing in profit growth next quarter.
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Crude inventory change: −1.27 million bbl (forecast: −2.2 million; previous: −1.81 million). The data show a mixed picture for the fuel market. They point to ongoing supply pressure in gasoline, alongside a moderate crude-inventory drawdown.
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Eurozone final CPI for November: +2.1% vs +2.2% y/y in the flash estimate. Expected: +2.2% y/y. EURUSD initially declined after the release due to relatively soft CPI and employment-cost readings, but the early move was quickly erased.
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Cryptocurrencies, which initially resisted the selloff, eventually followed Wall Street lower. Bitcoin briefly rose to 92,000 USD but now falls 1.50% to 86,600 USD. Ethereum drops 3.65% to 2,850 USD. The market cap of other altcoins declines 2.20% to 820 bn USD.
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