Trump announces Fed chair decision; CME raises precious metals margins; Hang Seng Bank privatization approved.

U.S. Senate Votes to Block Trump's Military Action Against Venezuela

On Thursday, the U.S. Senate passed a resolution with a vote of 52-47 to prevent President Trump from taking further military action against Venezuela. This decision follows Trump's authorization of an attack that captured Venezuelan President Maduro. The "War Powers Resolution" requires Trump to seek congressional approval before deploying U.S. military forces again. Although this vote is procedural, it indicates the necessary support for the bill in a final Senate vote. The resolution will now move to the House of Representatives, where Republicans hold a slim majority. The White House has stated that Trump will veto the resolution regarding military powers in Venezuela.

Trump Decides on Next Federal Reserve Chair

President Trump revealed in an interview with The New York Times that he has chosen a nominee for the next Federal Reserve Chair but did not disclose the name. He mentioned that his chief economic advisor, Kevin Hassett, is one of his preferred candidates. The next chair will face significant challenges as the Fed is under pressure to lower interest rates amid economic uncertainties. Current market predictions show a 41% chance for Kevin Walsh and a 39% chance for Kevin Hassett to be nominated.

Trump Dismisses International Law Constraints

In a recent interview, Trump claimed that as Commander-in-Chief, his powers are only limited by his "own moral code," disregarding international law as a constraint on military action. He stated, "I don't need international law," while asserting that he would comply with it when it applies to the U.S.

Trump Orders Purchase of $200 Billion in Mortgage-Backed Securities

Trump announced on social media that he has directed representatives to purchase $200 billion in mortgage-backed securities, aiming to lower housing costs ahead of the midterm elections. He emphasized that this move would reduce mortgage rates and make home buying more affordable.

CME Raises Margin Requirements for Precious Metals

The CME Group has announced a third increase in margin requirements for precious metals futures, effective January 9. This adjustment is based on market volatility assessments. Conversely, margins for most natural gas contracts will be lowered.

Goldman Sachs Survey: Investor Sentiment on Oil at a Decade Low

A Goldman Sachs survey indicates that geopolitical factors have led institutional investors to hold the most pessimistic view on oil in nearly ten years, with over 59% of respondents bearish on crude oil markets. This sentiment is attributed to oversupply issues exacerbated by OPEC+ production increases and U.S. output.

Canadian Prime Minister to Visit China

Canadian Prime Minister Mark Carney is set to visit China next week to discuss trade, energy, and security issues, marking the first visit by a Canadian Prime Minister to China since 2017. This visit aims to mend Canada-China relations, with the agricultural sector hoping for reduced trade tensions.

OpenAI's In-App Payment Plans Lagging

OpenAI's efforts to integrate in-app payment systems for ChatGPT are progressing slower than expected due to challenges in standardizing merchant data. This delay highlights the difficulties in scaling AI-driven shopping services.

Major Tech Firms Exempt from Strict EU Regulations

Despite calls for increased regulation, major U.S. tech companies like Google and Amazon will not face stringent oversight under the EU's digital rules reform. The EU plans to introduce the Digital Networks Act, which aims to enhance competitiveness and investment in telecom infrastructure.

Mixed Performance in Major Indices

On Thursday, the Russell 2000 index reached a record high, rising 1.11%. The Dow Jones increased by 0.55%, while the Nasdaq fell by 0.44%. Notable tech stocks like Micron and Broadcom saw declines, while Tesla and Google experienced gains.

Intel CEO Meeting Boosts Stock

Trump mentioned a positive meeting with Intel's CEO, highlighting the company's recent launch of a new 2nm processor technology. Intel's stock saw a rise following this announcement.

Gemini Traffic Surges, Google Hits New High

Google's market cap nears $4 trillion as Gemini's daily web traffic surged by 567% year-over-year. Meanwhile, ChatGPT's traffic has seen a slight decline.

Apple Accelerates Succession Planning

Apple is reportedly fast-tracking its succession plan as CEO Tim Cook aims to reduce his workload. John Ternus, head of hardware engineering, is seen as a leading candidate to succeed Cook.

Nvidia Tightens Chip Payment Terms

Nvidia has begun requiring overseas customers to pay in full for its H200 AI chips amid regulatory uncertainties, leading to a drop in its stock.

General Motors Faces Financial Challenges

General Motors reported a nearly 2% drop in stock after announcing a $60 billion charge related to its electric vehicle business.

Blackstone Seeks $2.6 Billion Debt Financing

Blackstone is looking to raise approximately $2.6 billion in debt to support the merger of its two power grid equipment suppliers.

Hong Kong Stock Market Activity

On January 8, net selling in Hong Kong stocks reached HKD 4.9 billion, with significant purchases in Xiaomi and Tencent.

MiniMax IPO Oversubscribed

MiniMax's IPO in Hong Kong saw a staggering 1,837 times oversubscription, raising HKD 4.8 billion.

Alibaba Releases New AI Models

Alibaba has launched and open-sourced new AI models aimed at enhancing multimodal information retrieval.

XPeng Motors Reports Significant Growth

XPeng Motors announced a 126% year-over-year increase in global deliveries, reaching nearly 430,000 vehicles.

Hang Seng Bank Privatization Approved

HSBC's proposal to privatize Hang Seng Bank has been approved, with plans to delist from the Hong Kong Stock Exchange by January 27, 2026.