US Stock Market: The three major US stock indexes closed mixed on December 16, with the Dow Jones and S&P 500 falling for the third consecutive day. At the close, the Dow Jones Industrial Average fell 302.3 points to 48,114.26, a decline of 0.62%; the S&P 500... The S&P 500 index fell 16.25 points to close at 6800.26, a decline of 0.24%; the Nasdaq ... The composite index rose 54.05 points to close at 23,111.46, a gain of 0.23%.
Most major tech stocks rose, with Tesla among them. Nvidia shares surge over 3% to a record high Microsoft rose 0.81%, AMD rose 0.77%, and Microsoft rose 0.81 %. Apple rose 0.33%. Micron Technology rose 0.18%. It fell by more than 2%.
Cryptocurrency concepts and computer hardware sectors led the gains, with Hut 8 rising nearly 4%, Strategy and SanDisk rising over 3%, and Quantum... Dell Technologies rose nearly 3%. Western Digital shares rose more than 2%. HP Gains over 1%. Oil and gas, and energy sectors saw the largest declines, with BP leading the pack. Shell fell more than 4%. ExxonMobil Chevron It fell by more than 2%.
Popular Chinese concept stocks showed mixed performance, with the Nasdaq China Golden Dragon Index closing down 0.34%. (Zhihu) Kingsoft Cloud rose more than 3%. iQiyi rose more than 2%. NetEase Century Internet Pinduoduo It fell by more than 1%.
European stock markets: All three major European stock indices fell on December 16. The FTSE 100 index in London closed at 9684.79 points, down 66.52 points, or 0.68%, from the previous trading day; the CAC 40 index in Paris closed at 8106.16 points, down 18.72 points, or 0.23%, from the previous trading day; and the DAX index in Frankfurt closed at 24076.87 points, down 153.04 points, or 0.63%, from the previous trading day.
Commodity Markets: International oil prices fell on December 16. At the close of trading that day, the WTI crude oil futures contract for the current month on the New York Mercantile Exchange fell $1.65 to settle at $55.17 per barrel, a drop of 2.90%. The COMEX gold futures contract for the current month fell $3.00, a drop of 0.07%, to $4332.2 per ounce.
Overnight news
Despite a weak US job market, traders remain betting that the Federal Reserve will cut interest rates twice in 2026.
The U.S. added 64,000 nonfarm jobs in November, while the unemployment rate unexpectedly rose to 4.6%, following a worse-than-expected job loss of 105,000 in October.
The European Commission has proposed revising the 2035 zero-emission target for new cars.
On December 16, the European Commission released a package of measures for the automotive industry, proposing to relax the requirements for banning the sale of gasoline and diesel vehicles by 2035 and adjusting the 2035 target for new cars to "zero emissions" to "90% reduction in emissions." This will create space for the sale of plug-in hybrid electric vehicles, range-extended electric vehicles, mild hybrid electric vehicles, and internal combustion engine vehicles.
Trump signs proclamation further restricting entry into the United States for foreign citizens.
On December 16 local time, the White House announced that President Trump had signed a proclamation further restricting the entry of foreign citizens. The White House stated that the United States is imposing full restrictions and entry restrictions on individuals from five countries—Burkina Faso, Mali, Niger, South Sudan, and Syria—as well as those holding travel documents issued by the Palestinian National Authority; full restrictions and entry restrictions are also being imposed on Laos and Sierra Leone, two countries previously subject to partial restrictions; and partial restrictions and entry restrictions are being imposed on the following 15 countries: Angola, Antigua and Barbuda, Benin, Ivory Coast, Dominica, Gabon, Gambia, Malawi, Mauritania, Nigeria, Senegal, Tanzania, Tonga, Zambia, and Zimbabwe.
The European Commission plans to issue approximately €90 billion in bonds in the first half of next year.
The European Commission announced on December 16 that it plans to issue approximately €90 billion in bonds in the first half of 2026. The proceeds will be used to support Ukraine and provide loans to member states. These funds will be disbursed through the Next Generation EU program and the European Security Action mechanism. The European Commission stated that it will provide up to €33 billion in loans to Ukraine between 2024 and 2027.
Bostic: Further rate cuts could reignite inflation and damage the Fed's credibility.
On Tuesday (December 16) local time, Atlanta Federal Reserve President Bostic stated that further interest rate cuts could shift US monetary policy towards a more accommodative stance, stimulating economic growth but also exposing the US to the risk of renewed inflation and rising inflation expectations. The Federal Reserve announced a 25 basis point rate cut last week, lowering the target range for the federal funds rate to 3.5%–3.75%. At the same time, policymakers also signaled a possible pause in rate cuts. The dot plot shows that policymakers' consensus forecast indicates only one 25 basis point rate cut next year. However, the market currently widely expects two rate cuts next year.
Bitcoin stabilizes after sharp drop, but analysts warn: Next step could see it fall below $80,000.
The cryptocurrency market stabilized after a sharp sell-off on Monday. Bitcoin rebounded above $87,000 in early U.S. trading on Tuesday. As the largest cryptocurrency by market capitalization, Bitcoin rose approximately 3% from its overnight low.
US stockpiling and the AI boom drive copper prices to record highs, but underlying risks remain.
Copper prices have surged to record highs again, not because of a global depletion of copper resources, but partly due to massive stockpiling of copper in the United States, forcing other countries to scramble for the remaining lucrative supply. The benchmark three-month copper price on the London Metal Exchange (LME) rose to a record high of $11,952 per tonne on Friday. Currently, the price is around $11,626 per tonne, representing a year-to-date increase of approximately 33%.
AI data platform Databricks raises $4 billion to raise valuation to $134 billion
On Tuesday local time, data analytics and artificial intelligence Software company Databricks announced that it is raising over $4 billion in its Series L funding round, valuing the company at approximately $134 billion, a 34% increase from its previous funding round this summer. The San Francisco-based company also disclosed that its annual recurring revenue reached $4.8 billion as of the end of October, up from $4 billion announced a few months ago. Databricks monetizes by renting out analytics capabilities, AI, and other cloud-based software that leverages AI-adapted data to build enterprise technology systems.
Hassett reiterated his support for the Federal Reserve's independence, and Bessett said he would continue interviewing people this week.
Kevin Hassett, a leading candidate for Federal Reserve Chair, reiterated his strong support for the central bank's independence, seemingly in response to rumors the previous day that he faced opposition from senior figures close to President Trump. In an interview on Tuesday (December 16), Hassett avoided directly discussing his candidacy. However, he emphasized that "building consensus" is a crucial part of the Fed Chair's job.
The European quantitative trading dispute, driven by a mere 0.0000000032-second speedup, reveals just how volatile the industry is.
Tuesday's latest news reveals the extent to which quantitative traders in Europe and the US have become embroiled in a fierce battle for a minuscule advantage in order placement speed. The controversy stems from a dispute in which French quantitative trading firm Mosaic Finance filed a complaint with European financial regulators and Eurex, the Frankfurt-based European Futures Exchange, alleging that a group of high-frequency trading firms were using a method of continuously sending useless data to exchange servers to gain a tiny speed advantage when actually placing orders.
Disclaimer: This article is generated by AI and is for reference only. It does not constitute any investment advice, and any actions taken based on it are at your own risk. Eastmoney.com This content is published to disseminate more information and does not represent the views of this platform. Eastmoney strives for, but does not guarantee, the complete accuracy of the data. In case of errors or omissions, please refer to the information disclosed by listed companies through media designated by the China Securities Regulatory Commission. Eastmoney assumes no liability for any profits or losses arising from all or part of this information. Users bear the risk of using the service, and Eastmoney makes no warranties of any kind.
