Trump said he’s leaning towards Warsh or Hassett to lead the Fed and the market thinks Hasset is most likely.
The BoJ Tankan Survey showed Large Manufacturers sentiment was the highest in four years, supporting the case for a rate hike.
The BoJ is likely to start selling ETF holdings as soon as January, according to Bloomberg.
Economic weakness was everywhere in China, with Industrial Output 4.8% Y/Y vs. exp. 5%, Retail Sales 1.3% Y/Y vs. exp. 2.8%, House Prices -2.4% Y/Y vs.prev.-2.2%.
China said they want to expand exports and imports, next year.
FT says hedge funds are piling into commodities.
A WSJ story finds 68% of CEOs plan to increase AI spending despite less than half of current projects generating positive returns.
Stocks fell off on Friday given disappointment from AVGO. This meant OpenAI-centric stocks were sold off Thursday, while GOOG-centric stocks were sold off Friday. It’s not AI vs. AI, but the whole concept that’s been hit.
NY Empire State Manufacturing index today, and expectations are low. We also have two Fed speakers.
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