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12/15 10:32
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U.S. Treasury Secretary Bessent plans to significantly adjust the financial regulatory approach by shifting the focus of the Financial Stability Oversight Council (FSOC) from strengthening oversight to relaxing regulations. This policy change indicates a potential fundamental shift in the regulatory framework established since the 2008 financial crisis. Bessent also intends to form a working group to explore opportunities for artificial intelligence (AI) in enhancing the resilience of the financial system while monitoring potential financial stability risks from AI applications.
Last week, U.S. jobless claims surged by 44,000, marking the largest weekly increase since the pandemic began. The Labor Department reported that initial claims rose to 236,000 for the week ending December 6, the highest since March 2020. In contrast, continuing claims dropped significantly to a low of 1.84 million, the largest weekly decline in four years.
The Commodity Futures Trading Commission (CFTC) announced the withdrawal of outdated guidance related to "virtual currencies" due to significant developments in the crypto market. Acting Chair Carolyn D. Pham emphasized the need to eliminate complex guidelines that stifle innovation in the cryptocurrency sector.
On December 11, the U.S. House of Representatives voted 237 to 140 to table an impeachment motion against President Donald Trump proposed by Congressman Al Green. All Republican members supported the motion, while many Democrats, despite privately believing Trump should be impeached, chose not to advance the resolution.
The Federal Reserve announced the unanimous reappointment of 11 regional bank presidents for a five-year term starting March 1. This decision addresses concerns regarding the future composition of the Federal Open Market Committee.
President Trump announced plans to sign an executive order to prevent states from enforcing their own AI regulations, aiming to create a unified national framework for AI.
JPMorgan's latest report highlights that 40% of U.S. adults lack basic digital skills, framing the labor shortage as a national security threat rather than just an economic issue.
The Treasury Department is preparing to release a corporate tax "workaround" that could significantly benefit companies like Salesforce (CRM) and Qualcomm (QCOM) by allowing more extensive R&D deductions.
Ukrainian President Zelensky announced that Ukraine has submitted a revised peace plan to the U.S. to expedite ceasefire negotiations with Russia, although territorial concessions remain a significant hurdle.
EU diplomats indicated that member states aim to agree on an indefinite freeze of Russian central bank assets in Europe, laying the groundwork for long-term financing for Ukraine.
The Dow Jones and S&P 500 indices set new closing records, while Oracle's stock fell nearly 11%, dragging down the Nasdaq. The market saw a rotation with small-cap and cyclical stocks rising amid a backdrop of Fed rate cuts.
Broadcom reported adjusted earnings and revenue that exceeded market expectations, driven by strong demand for AI products. However, the CFO indicated that gross margins would narrow by 1% due to AI product impacts.
A U.S. appeals court ruled in favor of Epic Games in its long-standing dispute with Apple, upholding a lower court's contempt ruling against Apple regarding App Store commission practices.
OpenAI announced the launch of its GPT-5.2 AI model, claiming improvements in general intelligence and coding capabilities, which may impact competitors like Google.
Nvidia plans to host a private summit to address power shortages affecting data centers, which could hinder AI development.
CoreWeave announced a partnership with Runway to provide cloud solutions for next-generation AI video models.
Disney announced a $1 billion investment in OpenAI and authorized the use of its IP for AI video generation tools.
Rivian is developing its own AI chips to replace Nvidia's technology in future vehicles, although its stock saw a significant drop.
Despite launching cheaper versions of its popular electric vehicles, Tesla's U.S. sales in November fell to the lowest level in nearly four years.
Eli Lilly's new weight loss drug showed promising results, with participants losing nearly a quarter of their body weight in trials.
Visa shares rose over 6% after Bank of America upgraded its stock rating from neutral to buy.
Costco reported Q1 revenue of $67.31 billion, while Lululemon's Q3 revenue reached $2.6 billion, both showing year-over-year growth.
Ciena reported Q4 earnings that exceeded expectations, attributing growth to strong demand in cloud computing and AI.
Recent trading saw significant net purchases of Meituan and Xiaomi, while China National Offshore Oil Corporation faced net selling.
Leapmotor announced a buyback of 2.15 million shares, totaling over HKD 100 million.
CIFI Holdings announced plans to buy back seven of its corporate bonds, with a total buyback amount not exceeding 220 million yuan.
Meituan successfully completed its first medical sample drone delivery in Shanghai, marking a significant step in medical logistics.
