- Christmas mood is clearly dominating Wall Street today. The Nasdaq 100 is up more than 1.1%, the S&P 500 gains around 0.8%, and the Dow Jones rises about 0.6%. Today’s session confirms gradual optimism among investors.
- European indices also closed mostly higher. The UK’s FTSE 100 rose 0.6%, Germany’s DAX ended the day up 0.4%, and Spain’s IBEX 35 gained 0.2%. The French CAC 40 performed the weakest, recording only a marginal increase.
- Undoubtedly, the highlight of the day was the Bank of Japan’s decision to raise interest rates to 0.75%, the highest level in three decades. This marks a symbolic end to the era of ultra-low rates, although real interest rates remain negative.
- On the currency market, the biggest moves involved USD/JPY, which gained significantly in response to the BoJ’s decision.
- UK retail sales for November came in weaker than expected. Overall sales fell 0.1% month-on-month, and core sales were also below forecasts. Year-on-year growth also missed analysts’ expectations, indicating moderate consumer spending activity in the UK.
- Canadian retail sales for October were also weaker than expected. Total sales fell about 0.2% month-on-month, and core retail sales, which exclude gas stations and auto parts sales, declined about 0.5%. These figures point to weakening consumer demand and may be seen as a negative signal for the Canadian economy.
- The University of Michigan consumer sentiment index for December came in at 52.9 points, below the forecast of 53.3 points. Inflation expectations rose to 4.2%, suggesting a moderate attitude among American consumers.
- On the precious metals market, silver is leading today, rising about 2.6% to around 67 USD per ounce. Platinum gains about 3.1% to just under 1,980 USD per ounce, palladium rises about 1.5% to around 1,710 USD, and gold adds just under 0.5%, trading around 4,350 USD per ounce.
- In the cryptocurrency market, Bitcoin is up more than 1.7%, staying above 87,000 USD, while Ethereum gains nearly 5%, hovering around 3,000 USD.
- TikTok is forming a U.S. joint venture in which Oracle and the Silver Lake and MGX funds will acquire 50% of the shares, while ByteDance will retain 20%. The new entity, with a U.S. majority on the board, will control data, moderation, and algorithms in the United States.
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