🚀 Stocks are stable heading into the week

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Market Overview
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Year To Date Performances:

1. U.S. stock futures were little changed Sunday night as investors headed into a pivotal week of economic data after a mixed stretch on Wall Street marked by a sharp rotation out of big tech. The S&P 500 and Nasdaq fell last week as heavyweights like Oracle and Broadcom dragged on AI-linked stocks, while the Dow rose as money flowed into lower-valuation, less tech-exposed names. Thatshift reflects growing skepticism about whether the market’s “Magnificent Seven” can maintain their dominance as AI competition intensifies. Attention now turns to delayed but closely watched data releases, including November jobs numbers, October retail sales and the November inflation report, which could reset expectations for the economy and the Fed’s next moves.

2. Asia-Pacific markets opened the week lower, led by sharp declines in South Korea, as investors pulled back from AI-linked stocks and waited for key economic data from China. South Korea’s Kospi slid more than 2% as chipmakers SK Hynix and Samsung fell heavily, echoing a broader global rotation out of high-growth tech names. The cautious tone came ahead of China’s release of November retail sales, industrial output and fixed asset investment figures, which traders are watching for signs of economic momentum. Japan was a partial bright spot, with its Tankan survey showing business optimism among large manufacturers at a four-year high, though Japanese equities still fell in line with regional weakness.

3. Copper prices are nearing $12,000 a metric ton as surging demand from AI data centres and power-hungry energy infrastructure collides with tight global supply and growing shortages outside the United States. Prices are up 35% this year, the biggest annual gain since 2009, driven by mining disruptions, stockpiling ahead of potential U.S. tariffs, and investor interest in copper as a core input for AI, clean energy and grid expansion. Analysts expect persistent supply deficits through 2026, with demand rising sharply from data centres, electric vehicles and renewable energy projects, particularly in China and other markets outside the U.S. Meanwhile, large volumes of copper have been diverted into U.S. warehouses due to pricing distortions from tariff expectations, making global supply feel even tighter and reinforcing bullish sentiment among traders and investors.

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