Capital Markets Insights | 2 Dec - 6 Dec

1. Stock Market : The S&P 500 and Nasdaq Composite hit record highs after positive employment data, reinforcing investor confidence in the economy and expectations for Federal Reserve interest rate cuts. A U.S. appeals court ruled that ByteDance must sell TikTok by January 19, 2025, to avoid a ban, citing national security threats

2. Economic Indicators: U.S. jobless claims rose to a six-week high, yet remained near recent lows, suggesting a still upbeat labor market outlook.

3. Gold : Gold prices saw a slight decrease, with a weekly drop of -0.82% following stronger than expected U.S. Non-Farm Payroll (NFP) data. which signaled a robust labor market potentially diminishing the appeal of gold as a safe haven. Despite this, gold had been on a rising trend earlier in the week, reaching highs but closing with caution.

4. Oil : Oil prices experienced mixed movements. Brent and WTI crude futures ended the week on a bearish note due to a supply surplus, despite OPEC+'s decision to delay output increases. This was somewhat offset by geopolitical tensions in the Middle East and positive factory output data from China.

5. Cryptocurrency : Bitcoin briefly touched $100,000 before settling around $96,500, buoyed by news of Trump's planned SEC chair nomination which could signal a more crypto-friendly regulatory environment.

6. Geopolitical Tensions:
• Syria: The Assad regime has collapsed, with opposition forces capturing Damascus. Celebrations ensued as Assad's statues were toppled, and his fate remains unclear amid reports of him fleeing or possibly being dead. Israel is moving into Syrian territory, potentially annexing parts of eastern Syria.
• Russia-Belarus: Belarus has requested Russia's Oreshnik missile system deployment, confirmed by Putin, in response to NATO activities, though it doesn't significantly escalate threats.
• Iranian Influence: Anti-Iran sentiment led to the storming of the Iranian embassy in Damascus, highlighting opposition to Iran's support for Assad.
• U.S.-Russia Relations: Lavrov emphasized Russia's readiness to defend itself with hypersonic weapons but also laid out conditions for peace with Ukraine, including non-NATO status for Ukraine and recognizing regions as part of Russia.
• Middle East: Syrian developments could shift regional alliances, with Hezbollah and other militias' reactions being closely watched.
• Central Asia and ASEAN: Central Asian states and ASEAN are aligning more with the West and China, reducing Russian influence through new trade corridors.

This Week's Top Gainer in US Markets (excluding small caps under $2B market cap)

• Company: SOUN (SoundHound AI Inc)

• Gain: 61.22%

This Week's Top Loser

• Company: TMDX (TransMedics Group Inc)

• Loss: -21.28%

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