Overnight US stocks | The three major indices closed down, the S&P 500 index hit a new intraday high, and spot silver soared more than 10%
The Zhitong Finance App learned that on Friday, the three major indices closed down. In the intraday period, the S&P 500 index rose to a high of 6945.77 points, a record high in the intraday period. The Dow rose 1.2% and the NASDAQ rose 1.22% this week; the S&P 500 index rose 1.4%, achieving the fourth week of gains in nearly five weeks.
[US stocks] At the close, the Dow fell 20.19 points, or 0.04%, to 48710.97 points; the NASDAQ fell 20.21 points, or 0.09%, to 23593.10 points; the S&P 500 index fell 2.11 points, or 0.03%, to 6929.94 points. Nvidia (NVDA.US) rose 1.02%, Tesla (TSLA.US) fell 2.1%, Broadcom (AVGO.US) rose 0.55%, and Apple (AAPL.US) fell 0.15%.
[Asia Pacific Stock Market] The Nikkei 225 Index rose 0.68%, South Korea's KOSPI Index rose 0.51%, and India's BSE SENSEX Index fell 0.43%.
[Foreign Exchange] The US dollar index, which measures the US dollar against six major currencies, rose 0.15% on the same day to close at 98.063.
[Cryptocurrency] Bitcoin rose 0.31% to $87494.88, hitting an intraday low of $86,653; Ethereum rose 0.94% to $2931.32. Matrixport publishes weekly reports. The report indicates that Bitcoin has continued to decline since mid-October, and market sentiment tends to be cautious. As the market once again mentions the “four-year cycle,” many traders speculate that 2026 may still be under pressure. Bitcoin has continued to be under pressure in an environment of converging volatility, deleveraging, and lack of risk appetite in recent months, but judging from derivatives, ETFs, and key technical indicators, the position structure has changed. The report shows that historically, the market is generally more conservative at the end of the year, but after entering the new year, as capital is reallocated and risk budgets are restored, the speed of sentiment reversal sometimes exceeds expectations. The current technical structure shows that downward action can slow marginally, but there is no clear consensus on the upward trend. In this context, the market may shift from “downside risk dominates” to a game stage where “the downside is limited and the upward trend still needs to be catalyzed”. Furthermore, as the largest Bitcoin option in history is about to expire, the distribution of the exercise price is becoming an important window for observing market pressure and potential opportunities.
[Precious Metals] Spot gold rose 1.12% to $4531.1, hitting an intraday high of $4549.95; spot silver rose more than 10% to $79.212, hitting an intraday high of $79.338. According to reports, despite the silver boom, some analysts still believe gold is a safer investment. Goldman Sachs economists said in an October report that compared to gold, they expect silver to face “greater volatility and price downside risks.” Analysts pointed out that gold is a more practical investment for banks because it is a more scarce resource, has a higher value per ounce, and is easier to transport and store. Some analysts have noticed that silver prices tend to rise and fall cyclically. Brent Donnelly, president of market research firm Spectra Markets, said, “Silver is a product that is prone to a parabolic rise and then collapse.” There are also analysts who believe that silver will continue to rise at least during the new year. Peter Reagan, financial market strategist at Birch Gold Group, said: “As far as silver is concerned, although there are no guarantees, rising economic uncertainty and continued inflation suggest we may see higher prices and stronger demand in the new year.”
[Crude oil] WTI's February futures settlement price was $56.74 per barrel, down 2.8% from Wednesday's close. The settlement price of Brent futures for February fell 2.6% to $60.64 per barrel.
[Macro News]
Institutions: The upward trend in gold and silver is strong, and silver is expected to hit $80 by the end of the year. Boosted by expectations of interest rate cuts from the Federal Reserve and geopolitical tensions increasing safe-haven demand, the price of silver broke the $76 mark for the first time on Friday and rose 6% during the day; gold and platinum prices also hit record highs. Peter Grant, vice president and senior metals strategist at Zaner Metals, said that expectations for further policy relaxation by the Federal Reserve in 2026, the weakening dollar, and heightened geopolitical tension are driving price fluctuations in the weak market. Although there may be some risk of a profit settlement before the end of the year, the upward trend remains strong. It is possible for silver to reach $77 or even $80 an ounce before the end of the year. For gold, the next target is $4686.81 per ounce, which is likely to reach $5,000 in the first half of next year.
Japan may achieve its first basic fiscal balance surplus in fiscal year 2026 for the first time in 28 years. Japanese Prime Minister Sanae Takaichi said that the basic fiscal balance is expected to return to surplus for the first time in 28 years. This move is clearly aimed at easing market concerns about its aggressive fiscal spending stance. “The initial government budget will achieve the first basic fiscal surplus since 1998,” Takaichi told reporters on Friday. Earlier in the day, the cabinet approved a record annual budget of 122.3 trillion yen (about $782 billion) for the 2026 fiscal year.” I believe our budget balances a strong economy with ensuring fiscal sustainability.” According to data from Japan's Ministry of Finance, the basic fiscal balance at the government level is expected to achieve a surplus of 1.34 trillion yen in the fiscal year budget beginning in April next year. The Cabinet Office's official data may be released next month after combining other information such as local government data.
[Individual Stock News]
Google will allow users to change their Gmail email address. According to updated information on the Google (GOOGL.US, GOOG.US) support page, the company will begin allowing users to change their Gmail email address. A new address ending at 用户可将原@gmail.com 结尾的地址更改为另一个同样以@gmail.com, and account data will not be affected. The original email address will be set as an alias, and users can receive emails through both the old and new addresses. Users will not be able to change their address again for 12 months after the change.
[Major Bank Ratings]
Coinbase was ranked by Clear Street analysts as one of the top three fintech stocks in 2026, with a target price of $415. According to reports, Clear Street analyst Owen Lau ranked Coinbase (COIN.US) as one of the top three fintech stocks in 2026 in the latest outlook report, believing that it will play a central role in the transformation of blockchain financial infrastructure. Lau maintains a “buy” rating for Coinbase, setting a 12-month target price of $415, which has room for a 70% increase from the current share price of $234.5. Lau stated that Coinbase “benefits most from blockchain adoption and regulatory clarification” and that the company's revenue through subscription services, stablecoin activities, and on-chain financial services continues to grow. In particular, the USDC stablecoin operated in partnership with Circle (CRCL.US), Coinbase received about 50% revenue share from it and became a key growth driver.
AI ignites cybersecurity growth momentum, and WedBush is betting that CrowdStrike (CRWD.US) stock price will reach a record high in 2026. Wedbush released a research report saying that CrowdStrike Holdings Inc. (CRWD.US), an important player in the cybersecurity field, will be one of the best investment methods to “bet on the intersection of cybersecurity and AI” in 2026. The agency maintained a “outperforming market” rating for the cybersecurity service provider's stock and a target price of up to $600, adding that CrowdStrike will be the core winner on the IVES AI 30 (US AI Technology Top 30) list compiled by Wedbush in 2026.