At-a-Glance
Today’s Top Highlights
Today’s futures markets were hit with a dual jolt of adrenaline as a "lighter-than-expected" CPI report for November collided with stellar earnings from the semiconductor giant Micron. The CPI rose just 2.7% year-over-year - beating the 3.1% forecast - while Core CPI fell to 2.6%, its lowest level since 2021. This "Goldilocks" data was exactly what equity bulls wanted to see, as it signaled that inflation is finally cooling enough to give the Federal Reserve "runway" for more rate cuts in 2026. The Nasdaq and S&P futures surged in response, snapping a four-session losing streak. The tech-heavy Nasdaq led the charge, gaining over 1.6% as AI-linked stocks like Nvidia and Micron caught a massive bid, effectively shifting the narrative from "inflation fears" back to "growth and easing."
In the metals complex, the reaction was even more dramatic, with Gold (GC) futures briefly exploding to a fresh all-time high of over $4,400 an ounce. The cooler inflation print weighed on the U.S. Dollar, making dollar-denominated assets like gold more attractive to international buyers. Silver futures also remained in the spotlight; while prices saw some "routine profit-taking" after hitting a record high of $66 per ounce yesterday, the metal continues to trade near historic levels due to a persistent supply deficit and surging industrial demand from the solar and EV sectors. Despite the massive moves, some traders remain cautious, noting that the CPI report was "noisy" due to earlier government shutdowns that delayed data collection. However, for now, the "lower rates" trade is back in the driver's seat, fueling a broad recovery across risk assets and hard commodities alike.
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