Markets rallied on cooler-than-expected U.S. CPI and strong tech earnings. The S&P 500 rallied, snapping a losing run, while the Nasdaq led gains as AI-related names recovered; the Dow lagged but edged higher. Volatility eased briefly, with bonds falling after the BOJ hiked and FX markets reacting to a weaker yen. Key catalysts: CPI, BOJ rate move and Micron results.
The administrator winding down Terraform Labs has filed a major claim against Jump Trading, alleging the firm profited from trading that accelerated Terraform’s collapse. The suit seeks $4 billion and could reshape liability in post-crash crypto litigation.
0.75% – Bank of Japan policy rate, the highest in 30 years.
Russia reported a large overnight interception of Ukrainian drone attacks, signaling heightened aerial combat intensity. The claim of 94 drones shot down underscores escalating drone warfare and pressure on Ukraine’s strike capabilities.
President Trump signed a landmark defense authorization measure that locks in record military spending while the administration also approved a large arms package to Taiwan. Both moves will reverberate across geopolitics and US-China relations.
ICICI Prudential AMC Soars 20% on Market Debut – IPO Rally
Shares of ICICI Prudential jumped about 20% in their trading debut after a blockbuster IPO that raised $1.17bn, signaling strong investor appetite for India asset managers.
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Japan’s central bank pushed policy rates to multidecade highs, propelling yields sharply higher and weakening the yen. The BOJ’s normalization is reshaping Asian markets and prompting global portfolio shifts.
OpenAI is reported to be pursuing a massive funding round while expanding product distribution via a ChatGPT app marketplace. The twin moves aim to lock in capital and commercialize third-party integrations at scale.
ANZ Hit With Record Penalty for Misconduct – Heavy Fine
Australia’s ANZ faces the largest combined penalties secured by corporate regulators over systemic misconduct and risk failures, a major reputational and financial blow.
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ByteDance and US investors reached binding agreements to restructure TikTok’s U.S. operations into a new joint venture led by American partners. The deal aims to avert a forced divestment and addresses algorithm and data concerns.
President Trump signed an executive order to reclassify marijuana, a major federal policy shift that will affect banking, research and the cannabis industry. The move opens new regulatory and commercial paths for cannabis businesses.
Major policy shifts: the U.S. executive order reclassifying marijuana to a lower federal schedule; regulatory easing for Citi via OCC adjustments; and new EU budget commitments to fund Ukraine. These moves reshape industry compliance, banking access for cannabis firms, and cross-border fiscal planning.
Trump Media’s surprise merger with a fusion-energy developer marks a dramatic strategic pivot into capital-intensive energy tech. The deal’s stock-market impact and feasibility of the fusion timeline are drawing heavy scrutiny.
FedEx reported stronger-than-expected results and raised its outlook, citing volume gains and holiday strength. The upbeat guidance lifts sentiment for logistics and retail supply-chain prospects into year-end.
“We have gone ‘code red’ multiple times — and we’ll do it again.”
— Sam Altman, OpenAI CEO
European governments agreed a €90 billion loan package to support Ukraine over two years, formalizing a major financing commitment. Leaders signaled the need to fold future assistance into EU budget talks as reconstruction demands grow.
Activist Elliott has taken a large stake in Lululemon, intensifying pressure on management and the CEO search. The move could force strategic changes at the apparel retailer and influence governance outcomes.
Instacart agreed to a $60 million refund settlement with the FTC over alleged deceptive practices, a regulatory blow that may prompt wider scrutiny of gig-economy subscription models. The payout underscores enforcement risks for consumer platforms.
U.S. regulators have eased some compliance mandates for Citigroup while the OCC trimmed a prior mandate tied to the bank’s risk systems. The moves reduce oversight burdens and signal regulatory calibration after remediation efforts.
A delayed CPI print showed inflation cooling to 2.7% in November, a data point that sent markets higher but drew warnings about distortions from reporting gaps. Traders cheered the softer reading even as economists urged caution.
China is retrofitting older ASML machines to boost AI chip output and has begun issuing general licences for rare earth exports, moves that ease some trade frictions and accelerate domestic semiconductor production. The developments complicate export-control strategies.
New research shows North Korea’s crypto-hacking operations surged again in 2025, netting over $2 billion. The rise in state-linked cybertheft compounds sanctions evasion and global crypto-security concerns.
Coinbase is expanding into stocks and prediction markets even as it sues several states over oversight of its new prediction-market plans. The twin legal and product moves mark a major push to broaden the exchange’s business model.
The rapid growth of AI-driven data centers has sparked local backlash over power costs and grid strain, while investors plow capital into capacity plays. Large asset managers are making sizable bets on hyperscale facilities in key U.S. hubs.