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📉 TL;DR – Last Week in 60 Seconds
Last week was a tug-of-war: stocks slid early, then got pulled back up by tech leaders into Friday’s close. The Dow and Russell 2000 led the drop, hinting investors preferred larger, steadier names. Gold kept climbing, and Silver stole the spotlight, jumping over 8% on the week. The U.S. dollar firmed too, hinting investors still want “safety” alongside stocks.
Bitcoin drifted lower, reminding everyone crypto still trades on mood as much as math. This holiday-shortened week, Tuesday’s Gross Domestic Product (GDP)* report is the marquee update—and low trading volume can make the market overreact.
Quick Levels → Last week’s change
S&P 500: 6,834.49 | ↓0.37%
Nasdaq 100: 25,346.18 | ↓0.03%
Dow: 48,134.89 | ↓0.95%
Russell 2000: 2,529.42 | ↓1.29%
Gold /oz: $4,355 | ↑1.31%
Bitcoin (BTC): $88,655 | ↑0.55%
DXY (US Dollar Index): 98.72 | ↑0.33%
🚀 Top Movers Last Week
Trump Media & Technology Group (DJT) ↑51.08% — Rallied after announcing a $6B all-stock merger with nuclear-fusion startup TAE Technologies. AI power angle spurred speculative demand.
Rivian (RIVN) ↑21.88% — Revealed custom self-driving chip at AI Day; analysts upgraded outlook, fueling momentum.
Moderna (MRNA) ↑14.73% — CEPI funding for bird-flu vaccine trial helped de-risk pipeline and lifted shares.
Rocket Lab Corporation (RKLB) ↑14.69% — Won potential $805M Space Development Agency deal for 18 missile-warning satellites; investors cheered backlog.
Micron Technology (MU) ↑10.28% — Issued blowout profit forecast on AI memory shortage; shares surged on strong guidance.
NIKE (NKE) ↓12.98% — Earnings beat couldn’t offset weak guidance, China demand worries, and margin pressure.
🗺 Market Map
Source: Jesus Vargas/Getty Images
Q3 GDP Tuesday: The Bureau of Economic Analysis (BEA) releases the delayed Q3 real GDP (inflation-adjusted growth). Forecasts point to a step-down from Q2, so a surprise could move interest rates quickly.
Oil has a new headline risk: the U.S. intercepted a tanker near Venezuela, while Russia-Ukraine tensions flared again. Higher crude can feed into gasoline prices and keep inflation worries alive (see more in Signal Spotlight).
CPI* gave a cleaner inflation signal—without October: Prices rose 2.7% over the past year, with “core” inflation (excluding food and energy) at 2.6%. Missing October means this report spans a two-month change.
Crypto flows stayed choppy: U.S. spot Bitcoin ETFs showed a net outflow on Dec 19. Separately, MSCI is weighing index rules that could sideline bitcoin-heavy companies—risk for “bitcoin proxy” stocks if passive funds must sell.
Year-end market mechanics: Late December often has thinner trading. That means big funds rebalancing portfolios can exaggerate moves. Watch market breadth (how many stocks are participating): broader rallies usually hold up better.
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🛒 Buy Zone
Long-term investors: Consider gradually adding Energy on weakness, given sub-$60 WTI and still-resilient demand into 2026. Use dollar-cost averaging, expect volatility around inventory data, and keep position sizes modest if crude undercuts recent lows.
Short-term traders: With GDP Tuesday and lighter holiday volume, expect sharper intraday swings. Watch the 10-year yield: a jump back toward ~4.2% can pressure growth; a slide toward ~4.1% can lift it. Risk guardrail: Avoid holding big risk into the release; let the first 15 minutes set direction before acting.
💡 Signal Spotlight
When geopolitics pokes the oil market…
Washington is tightening enforcement on Venezuela’s oil trade, including stopping tankers it says are dodging sanctions*. Even small disruptions can lift crude via a risk premium*—and crude can leak into gas prices, shipping costs, and inflation expectations.
Oil popped overnight (Brent* ↑0.9%, WTI* ↑1.0%) on the latest headlines. If this drags on, energy may stay supported while airlines and transport-heavy businesses feel pressure.
👀 What to Watch
Tue, Dec 23 — Q3 GDP (delayed): US growth update with inflation context.
Tue, Dec 23 — Durable goods (delayed): business spending pulse, especially equipment orders.
Tue, Dec 23 — Core PCE*: Fed’s expenses gauge inside GDP; any re-acceleration could lift yields.
Tue, Dec 23 — Conference Board Consumer Confidence: Fresh view on spending appetite into year-end.
Wed, Dec 24 — Initial Jobless Claims: A quick read on labor-market cooling.
Wed, Dec 24 — Early close: US stocks close at 1 p.m. ET; thin trading can exaggerate moves.
Thu, Dec 25 — Markets closed (Christmas): Expect thin trading and choppy pricing around headlines.
📚 Decoder
Brent: Global crude oil benchmark used for many international prices.
Consumer Price Index (CPI): Monthly inflation report for household goods and services.
Core PCE: PCE inflation excluding food and energy; the Fed’s favorite gauge.
GDP (Gross Domestic Product): Total output of the economy; growth signal for markets.
Personal Consumption Expenditure (PCE): Prices based on what people buy; broader than CPI basket.
Risk premium: Extra return investors demand for taking on uncertain risks.
Sanctions: Government restrictions that limit trade, finance, or specific entities.
WTI (West Texas Intermediate): U.S. crude oil benchmark tied to domestic supply-demand.
🕔 That’s your 5-minute guide to start the week. There’s more info out there…dive in! News is free; risk isn’t.
We’ll be back to check-in on Thursday at 7 AM ET.
Educational only—not investment advice.
Thanks for reading 5 Minute Markets!
