Post-Bell | Wall St Closes Lower; Tesla Jumps 4%; Apple and Amazon Fall 2%; Oracle Drops 3%; Broadcom and Coinbase Sink 6%

01 Stock Market

As of Dec 16, the U.S. major indexes closed as follows: the Dow Jones Industrial Average down 0.09% at 48416.56; the S&P 500 down 0.16% at 6816.51; and the Nasdaq Composite down 0.59% at 23057.41. Trading was mixed across large-cap tech, semiconductors, and crypto-linked equities, with pockets of strength in autos and AI-related names, while several high-beta names saw sharper declines into the close.

Unusual-move stocks were mixed, with notable strength in autos and weakness in select tech and crypto stocks. Tesla up 3.56% at $475.31. Broadcom down 5.59% at $339.81; Oracle down 2.66% at $184.92; Apple down 1.50% at $274.11; Nvidia up 0.73% at $176.29; Microsoft down 0.78% at $474.82; Amazon down 1.61% at $222.54; Advanced Micro Devices down 1.52% at $207.58; Meta Platforms up 0.59% at $647.51; Micron down 1.51% at $237.50; Netflix down 1.49% at $93.77; Coinbase down 6.37% at $250.42.

Performance among U.S.-listed Chinese and select high-beta names skewed lower. Alibaba down 3.59% at $150.09; Baidu down 4.94% at $118.83; Taiwan Semiconductor down 1.47% at $287.74. Cannabis-linked Tilray down 10.04% at $10.93. Space and energy names were volatile: Rocket Lab down 9.89% at $55.41; IREN down 11.59% at $35.48; Ondas down 12.11% at $7.69. These moves reflect ongoing rotation and event-driven repricing around AI, policy, and capital markets themes.

02 Other Markets

Dec 16 the U.S. 10-year Treasury yield fell by 0.18%, latest at 4.17.

Dec 16 USD/CNH rose 0.00%, at 7.05; USD/HKD fell 0.0013%, at 7.78.

Dec 16 the U.S. Dollar Index fell 0.04%, at 98.26.

Dec 16 WTI crude futures fell 0.33%, at 56.63 USD/bbl; COMEX gold futures rose 0.03%, at 4336.70 USD/oz.

03 Top News

1. PayPal applied to establish an industrial loan company bank in the U.S., aiming to expand lending and reduce reliance on third parties. The firm filed with the Utah Department of Financial Institutions and the FDIC to form PayPal Bank, supporting small-business lending and offering interest-bearing savings. Leadership plans include appointing Mara McNeill as president, positioning PayPal to scale credit offerings and improve funding efficiency.

2. Ford announced a $19.5 billion writedown and is scrapping multiple electric-vehicle programs, pivoting aggressively toward gas and hybrid models. The move includes replacing the fully electric F-150 Lightning with an extended-range electric model and canceling the next-gen T3 pickup and commercial EV vans. Ford updated guidance to target stronger 2025 adjusted EBIT and outlined battery JV changes with SK On, reallocating capital to higher-return programs while aiming for eventual EV profitability.

3. Nasdaq plans to file with the SEC to roll out 23/5 round-the-clock trading of U.S. stocks and ETFs, enhancing global access and flexibility. The exchange’s blueprint includes two sessions: a day session from 4 a.m. to 8 p.m. Eastern and a night session from 9 p.m. to 4 a.m., starting the trading week Sunday night. Successful implementation depends on upgrades to market plumbing, including nonstop clearing at DTCC and resiliency in securities information processors.

4. The White House is considering an executive order to reclassify marijuana to a less restrictive schedule, potentially reshaping the cannabis industry and research landscape. Rescheduling could ease criminal penalties, lower tax burdens, and unlock access to banking and institutional funding. Health agencies have recommended changes under review by the DEA, which could open the door to broader medical research and product development.

5. SpaceX is preparing for a potential public offering at a valuation reportedly near $800 billion, bolstering Elon Musk’s wealth and highlighting investor demand for space and AI ventures. A high-valuation listing would reinforce Musk’s net worth and may have spillover effects for capital formation in adjacent businesses. The prospect underscores momentum in private-to-public transitions for advanced technology platforms seeking broader investor participation.

Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: This content is for reference only and does not constitute investment advice.