Silver soars to $66 for the first time in history 📈🥳🫂
Source: Barchart
🚨 In case you missed it: Europe just hit the brakes on the EV-only future 🚨
The "End of the Combustion Engine" was supposed to be 2035. But the reality of the market just forced a massive pivot. Here is what’s happening and why it matters for the global economy: 📉 The Pivot The EU has officially backed away from its 100% emissions reduction goal for 2035. Instead of a total ban on gasoline and diesel, they are targeting a 90% reduction. 🚗 What this means for Carmakers ICE is back on the menu: New gasoline, diesel, and plug-in hybrids can still be sold past 2035. Flexibility over Ideology: Companies can use low-carbon fuels or "green steel" to offset emissions rather than being forced into an all-electric lineup. Survival Mode: With Ford recently taking a $19.5 billion charge on its EV business, the industry is screaming: “We can't make the math work yet.” 🌍 The Bigger Picture Europe is aligning more with the U.S. approach. Between trade tensions with China and the economic reality of a struggling manufacturing sector, the EU is choosing industrial stability over rigid green targets. The Lesson: You can mandate a transition, but you can’t mandate consumer demand or profitability. Economic reality eventually catches up to policy. Is this a necessary lifeline for the European auto industry, or a dangerous step backward for the planet? Source: Bloomberg, Financial Post
A very interesting chart: we're currently in a relatively rare situation where households have more wealth invested in the stock market than in physical property!
This crossover has only happened a couple of times in modern history, most notably in the late 1960s and again in the late 1990s. What's particularly striking is that both of those periods preceded major bear markets that lasted for years. What this means practically is that households have become increasingly concentrated in equity investments, making them more vulnerable to stock market volatility. When your wealth is primarily in stocks and the market drops, you lose wealth quickly. Real estate tends to be more stable and less prone to sudden crashes, though it can still decline. The US Government can not afford a bear market... Should we prepare ourselves for a "Trump put" in 2026? Source: Wells Fargo, StockMarket.news
*US NOV. NONFARM PAYROLLS RISE 64,000 M/M; EST. +50K
*US payrolls grew by 64K in November, but shrunk by 105K in October. *Average hourly earnings +0.1% MoM vs Est. 0.3% *US NOV. UNEMPLOYMENT RATE 4.6%; EST. 4.5% Source: @SteveRattner
Markets are more dovish than the Fed
Source: Bloomberg
Another 10.00am EST liquidation on Bitcoin dumped $3,200 from $89.8k to $86.6k and liquidated $203 million worth of longs.
All this happened in last 60 minutes with no major negative news. Another example of 10 am manipulation which has been happening over the last few weeks many times when the US market opens. Source: Bull Theory
As rightly said by Eric Balchunas many strategists are calling for rotation out of Mag 7 next year..
But let's be honest they said same thing this year and Mag 7 beat market YTD and crushed it since Liberation Day. Will 2026 be different? Source: Bloomberg
In case you missed it...Tech may finish the year with a lower Forward P/E than it began the year...
Tech bubble? Are you sure? Source: Seth Golden @SethCL Factset
