Silver experienced a dramatic price swing, marking its largest intraday fluctuation in over five years. The precious metal surged past the $80 per ounce threshold for the first time ever before plummeting more than 8% on Monday, falling below $71. This volatility represents a 15% drop from its peak to its lowest point, the most significant one-day move since August 2020. Analysts attribute this sharp reversal primarily to profit-taking, as silver remained up over 140% year-to-date despite the decline. Early trading on Tuesday saw silver recover some ground, trading up more than 7%.
In parallel, copper prices reached new record highs yesterday and are on pace for their strongest annual performance since 2009, underscoring a broader bullish trend in industrial metals. This surge in commodity prices can be linked to several factors, including robust industrial demand, particularly from China, and ongoing supply chain disruptions that continue to constrain availability. The increased investment in green technologies, which heavily rely on copper, is also a significant driver.
The broader stock market, however, kicked off the final trading week of the year with a downturn, with prominent artificial intelligence stocks facing renewed pressure. This divergence highlights a market environment characterized by sector-specific rotations and investor caution regarding highly valued tech companies.
**General Motors (GM)** investors have enjoyed a strong year, with the automaker’s stock poised to outperform competitors and achieve its largest single-year gain since emerging from bankruptcy in 2009. Shares have consistently hit new all-time highs throughout December, driven by a robust generation of cash flow and resilient earnings. This performance signals a successful strategic pivot by GM, focusing on profitability and operational efficiency in a rapidly evolving automotive landscape increasingly dominated by electric vehicles and advanced software. The company’s ability to navigate this transition while delivering strong financial results has garnered significant Wall Street confidence.
**Meta Platforms (META)** continues its aggressive push into artificial intelligence with the acquisition of Singapore-based AI agent developer Manus. Manus, which recently launched its first AI agent capable of tasks like coding and data analysis, is expected to accelerate Meta’s AI innovation and enhance automation across its product suite, including its AI assistant. While financial terms were not disclosed, reports suggest a valuation exceeding $2 billion. This move follows Meta’s recent acquisition of wearables startup Limitless and a substantial $14.3 billion investment in Scale AI earlier this year, underscoring a clear strategy to integrate advanced AI capabilities into its core offerings and explore new avenues for growth. The company’s substantial investments in AI signal a commitment to staying at the forefront of technological advancement and leveraging these capabilities to enhance user engagement and develop new revenue streams.
President Donald Trump addressed geopolitical tensions, issuing a stern warning to Iran regarding its nuclear program. He stated that any attempt by Iran to rebuild its nuclear capabilities would be met with forceful action, while also suggesting a preference for diplomatic engagement. These remarks were made following a meeting with Israeli Prime Minister Benjamin Netanyahu, during which Trump indicated support for an Israeli response should Iran pursue the development of ballistic missiles or reinstate its nuclear program. The geopolitical posturing reflects ongoing concerns about regional stability and the potential for escalation in the Middle East.
Meanwhile, Representative Ro Khanna (D-Calif.) is facing criticism from Silicon Valley’s tech elite following his support for a wealth tax. A proposed ballot measure in California aims to impose a one-time 5% tax on billionaires to address a projected shortfall in the state’s healthcare system. Tech leaders have voiced strong opposition, with some threatening to relocate their operations if the measure passes. This situation highlights the ongoing debate surrounding wealth distribution, taxation, and the role of technology companies in societal contributions. The push for such taxes is often framed as a means to fund essential public services and address growing income inequality, while tech leaders argue that high taxes stifle innovation and economic growth.
**The Daily Dividend:** The city of Kiruna, Sweden, is undergoing a remarkable relocation due to ground subsidence caused by the expansion of the world’s largest underground iron ore mine. This unprecedented urban transformation involves moving buildings block by block to a new location approximately 3 kilometers away. The initiative is driven by the need to prevent damage to the city’s infrastructure and residential areas from the expanding mining operations. This endeavor underscores the complex interplay between resource extraction, urban development, and environmental considerations, posing unique challenges and opportunities for the residents and the mining company.
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