WEEK OF DECEMBER 9, 2024
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Important Prices
What’s Moving The Markets?
Palantir Technologies (PLTR) and Anduril Industries have partnered to enhance AI applications in defense, combining Palantir’s AI platform and Anduril’s systems to address challenges in managing sensitive data and scaling national security AI solutions.
Taiwan Semiconductor Manufacturing Co (TSMC) is in talks with Nvidia (NVDA) to produce its Blackwell AI chips at TSMC’s upcoming Arizona facility, with production set to begin in 2024, though packaging will still be handled in Taiwan.
Hedge funds are beginning to hire medical professionals and scientists to enhance investment strategies in the volatile pharmaceutical sector, capitalizing on their expertise to navigate complex drug trials and market fluctuations.
Former Speaker Nancy Pelosi’s net worth has reached $271 million, with $111 million stemming from stock investments in major corporations, sparking renewed debates over insider trading and ethical concerns regarding stock trading by lawmakers.
China’s leading industry associations have warned against U.S. chip imports amid escalating tensions, urging domestic companies to avoid American semiconductors, while the U.S. faces retaliation through rare mineral export bans and tightened trade restrictions.
Bitcoin (BTC) surpassed $100,000 for the first time, driven by political support, including Trump’s pro-crypto SEC nominee, institutional interest, and growing adoption, marking a key moment in its rise to mainstream financial acceptance.
S&P Outlook
Bear Case: Bears are focused on the critical task of breaking below the 5950 level to initiate potential bearish momentum. Successfully crossing this threshold is essential for bears aiming to establish a stronger bearish presence in the market and drive the price further down.
Bull Case: Bulls continue to demonstrate control with the creation of a possible demand zone starting at 5967, which may provide robust support in case of a price retracement. Maintaining the price above this level is crucial for bulls to retain their dominance in the market. As long as bulls can sustain above 5967, they remain in a strong position to dictate market trends.
EARNINGS RELEASE CALENDAR
FOR WEEK OF DECEMBER 9th
Economic Data Calendar
