U.S. Indices closed the day in the green with outperformance in the NASDAQ, while Industrials, Tech and Communications outperformed. There were several developments on AI, with OpenAI declaring a “code red” for workers to shift focus to improve ChatGPT in the face of threats from other chatbots. Meanwhile, Amazon (AMZN) announced its new AI chip, which some labelled as rushed but others labelled as a threat to NVIDIA (NVDA). The Amazon AI chip announcement led to downside in US equities, but that later reversed. Aside from AI, focus was on the potential next Fed Chair. US President Trump announced he would name Powell’s successor in early 2026, which led to a brief Dollar strength and a flattening of the Treasury curve as participants speculated whether Hassett is still the front-runner. However, Trump later announced he had narrowed his choice down to one and then introduced Hassett as the “potential” next Fed Chair, which in turn saw the Dollar move to lows while the curve steepened again. Meanwhile, oil prices settled in the red with focus on the US Special Envoy Witkoff and Kushner meeting with Russian President Putin, although no progress has been reported on, but the US officials are set to travel to Europe afterwards to speak with Ukrainian President Zelensky. Elsewhere in FX, the Japanese Yen gave up some of its gains on Monday and underperformed while equities advanced and the Australian Dollar outperformed, in part to the risk tone, but also as ANZ removed its call for the RBA to cut rates in H1 26. Gold and silver prices diverged, with Gold sold and trading either side of USD 4,200/oz, while silver caught another bid. Elsewhere, Oil closed lower by 1.21%.
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For anyone following my Platinum Service it was made 215 points yesterday and is now ahead by 445 points for December after ending the month of November with a gain of 4542 points, after ending October with a nice gain of 5110 points after closing September with a gain of 3774 points while ending August with a gain of 3362 points after closing July with a gain of 3753 points after closing June with a gain of 3530 points, having closed May with a gain of 3606 points, after closing April with a gain of 7685 points after closing March with a gain of 2254 points while closing February with a gain of 4180 points. January ended with a gain of 2768 points while 1997 points were gained in December. October ended with a gain of 2179 points, after closing September with a gain of 4402 points, following a loss of 301 points in August. July gained 1908 points while June saw a gain of 2074 points. The Platinum Service made a record 9619 points in October 2022. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 2300 points. I have a YouTube Channel which contains recent interviews I have given This can be viewed by clicking HERE Please subscribe to this for new interview notification
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