Japanese yen carry trade unwinding → US 10-year treasury yield rising → stocks and crypto falling again.

But hints of a new Fed Chair and rising rate cut odds for December have silver breaking through all-time highs.

And Intel (INTC) is outside of all expectations, smoking the market with a 10% rise almost out of nowhere.

Big week ahead. Let’s get into it.

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Markets are down pre-market today after moving back toward record highs last week.

AI stocks cooled in November. Meta fell 13%, Nvidia dropped 8%, and Oracle slid nearly 30%. Google gained 20% after strong earnings and reports of a chip deal with Meta.

Japan’s 10 year bond yield may have contributed to the crypto selloff and the spike in the US’s own 10 year. The Japanese 10 year rose to its highest level since 2008 (1.84%) after the Bank of Japan hinted at rate hikes. The 10 year yield rising signals that Japanese investors might be more interested in earning safe, guaranteed yields from the government rather than investing their money in foreign markets.

Intel (INTC) rose 10% on Friday after an analyst predicted it would make a chip deal with Apple; the stock has sustained its rise today during pre-market trading.

Black Friday set a new online spending record. U.S. consumers spent $11.8 billion online, up from $10.8 billion last year, according to Adobe Analytics. Shoppers spent $12.5 million per minute between 10 a.m. and 2 p.m., and Cyber Monday is expected to top $14.2 billion.

Silver hit a new all-time-high price of $58/ounce. The main catalysts are 1) that markets expect Trump to announce a more dovish Fed chair and 2) industrial demand is rising for the metal, according to The Economic Times.

A CME outage froze global futures trading on Friday after a cooling system failure at a Chicago data center. Trading resumed by 8:30 a.m. ET, restoring activity across commodities, FX, and equity futures. Analysts said the timing limited the impact.

Putin signaled openness to peace talks on Ukraine, saying a U.S.-backed draft plan could form the basis of a deal. Moscow’s comments followed reports that Kyiv had tentatively agreed to a 19-point framework. Energy and defense traders are watching for signs of de-escalation, which could decrease the valuation of energy and defense stocks.

Here’s every bullish and bearish catalyst right now as we see it.

Bullish:

Bearish:

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Brandon & Blake of Invested Inc