🇨🇳 China's overall goods trade surplus surged +21% YoY, to a record $1.1 trillion in the first 11 months of 2025.

🇺🇸 US macroeconomic data:

▪️ Purchasing Managers' Index (PMI) in the manufacturing sector (Dec)

FACT: 51.8
FORECAST: 52.0
PREVIOUS.: 52.2

▪️ Composite Purchasing Managers' Index (PMI) from S&P Global (Dec)

FACT: 53.0 
FORECAST: 54.2

▪️ Purchasing Managers' Index (PMI) in the services sector (Dec)

FACT: 52.9
FORECAST: 54.0
PREVIOUS.: 54.1

$23.8T in global exports

$19.7T comes from just 30 countries.

This chart is a clean snapshot of who really controls the flow of goods.

It also explains why supply shocks and sanctions hit so hard.

Top 30 exporters total: $19.7T out of a $23.8T world total.

That is 80% of global goods exports

China: $3.38T is bigger than Germany + Japan combined

US: $2.02T. with Mexico $593B and Canada $569B making North America a single export machine

Europe’s industrial core: Germany $1.69T, Netherlands $935B, Italy $677B, France $648B, UK $521B

Asia’s manufacturing stack: Japan $717B, S. Korea $632B, Hong Kong $574B, Singapore $476B, Taiwan $432B, Vietnam $354B

Energy exporters punch above their weight: Russia $424B, UAE $488B, Saudi $322B. smaller in goods value, massive in marginal pricing power for oil and gas

In commodity markets, shocks rarely need to be “big” to move prices. They just need to hit the right nodes.

Export hubs, shipping lanes, and energy suppliers sit under the entire export system.

When those nodes tighten, everyone pays.

INSIDE THE $1T AI ECONOMY

• $NVDA sells the compute every AI system runs on
• $MSFT packages AI into software & cloud for enterprises
• $AMZN turns AI demand into sustained cloud & logistics monetization
• $GOOGL creates AI demand through search & monetizes it through ads & cloud
• $META uses AI to compound attention & extract more value per ad
• OpenAI sells intelligence directly as a product
• $ORCL locks in enterprise AI workloads via OCI
• $AMD supplies alternative AI compute at scale
• $AVGO provides the silicon & networking that connects AI systems

Two names that aren’t included but absolutely should be:

• $TSM manufactures the chips the entire AI stack depends on
• $PLTR operationalizes AI across governments & enterprises

AI will:
•Automate repetitive and low-skill tasks
•Increase speed, accuracy, and efficiency
•Reduce operational costs
•Improve decision-making using data
•Run systems 24/7 without fatigue

Industries already changing fast:
•Manufacturing: smart factories, robots, predictive maintenance
•Finance & Trading: algorithmic trading, risk analysis, fraud detection
•Healthcare: diagnostics, drug discovery, patient monitoring
•Transport & Logistics: autonomous vehicles, route optimization
•Media & Marketing: content creation, targeting, analytics

What this really means:
•Jobs won’t disappear — skills will change
•Those who adapt will dominate
•Those who ignore AI will be replaced by those who use it

Just like in trading — volume moves before price.
AI is the volume.
Industry change is the price move.

The smart move now is not fear — it’s positioning.

⚡️CEO of $MARA Holdings: The current pullback in the crypto market is a healthy correction.

✦ The level of $84,000 is the break-even point for most Bitcoin ETF buyers, one of the key support levels for Bitcoin.

✦ At the beginning of the third quarter, many considered the market overheated – now a natural pullback is taking place. Money is leaving AI stocks and flowing into Dow Jones stocks. The general mood in the market is 'risk-off'.

✦ The Fed has completed the #QT program (balance reduction), and #QE is starting. The Fed will begin injecting liquidity into the market. The dollar is declining – this is good for Bitcoin and provides additional support for growth.

✦ Bitcoin will continue to rise. But we need to understand – this is a huge asset worth a couple of trillion dollars, and to move the price, a lot of money is needed. Bitcoin is highly dependent on global liquidity – the more money is injected into the system, the better it is for BTC.

⚠️ Headline

Dow Jones Newswires: Retail Sales Stall in October

Reuters: New Zealand consumer confidence improves, remains below long-run average

Dow Jones Newswires: U.K. Inflation Slows to Eight-Month Low as BOE Prepares Rate Decision

Trading Economics: UK Inflation Rate Falls More than Expected

Gold has closed above its 50-day moving average 88% of the time over the last 12 months, the most since 1980 📈🤯