VONNIE: IT IS 5:00 A.M. IN NEW YORK CITY. I AM VONNIE QUINN WITH YOUR "BLOOMBERG BRIEF. " A WIN FOR ALPHABET. META REPORTEDLY IN TALKS TO SPEND BILLIONS ON GOOGLE'S AI CHIPS AS AN ALTERNATIVE TO NVIDIA'S GPU'S. MOSCOW AND KYIV TRADE AIRSTRIKES, EVEN AS PRESIDENT TRUMP TOUTS HIS PEACE PROPOSAL. AND MARKETS IN A RAFT OF ECONOMIC DATA, FROM RETAIL SALES TO THE SURVEY. THE BLISTERING TECH RALLY LOOKS TO BE COMING TO A HALT, PARTICULARLY AFTER THE GOOGLE-META NEWS. FUTURES LOWER. THE NASDAQ WAS UP 2.6% PERCENT Y ...

Strong gains in stocks globally. US into Asia. Mark, as a result of what the Fed rate cut theme does that live on US futures rolled over a little.Yeah, I think that the sell off that we started in stocks about four weeks ago is still not fully exhausted. I know that's been a kind of repeated refrain of mine for the last few weeks. I understand why people are rushing to buy the dip very quickly, but it just doesn't feel like that the pain in the digital asset sector has fully played out.And sure, there's not ...

Australia's role in the COP 31 climate summit. April Yeah, and this is positioning, of course, for COP 31 given how it has sort of failed bid. Now it will be hosting this along with Turkey.Australia has stepped back from this bid to host the COP 31 climate summit in Adelaide and instead this compromise with rival bidder Turkey. And this will see this 2026 talks stage in Antalya. Australia of course, won't be the venue and this will still shape the agenda though that seems to be the expectation with Climate ...

AI Development & Investment - The discussion involved the future of technology, particularly AI's impact on society [2] - There's a need for global tech champions to invest locally in AI in various regions, including India, Europe, Latin America, and South Africa [2] - The company positions itself as one of the best AI labs globally and plans to continue investing in AI [2] International Relations & Growth - The company met with Prime Minister Narendra Modi and other leaders from Europe, Latin America, and Asia [1] - Continued growth is expected in India [3]

Geopolitical Risk & International Relations - The Caribbean is experiencing a significant accumulation of military power, comparable to the Cuban missile crisis era [1] - The US has deployed a large aircraft carrier, cruisers, destroyers, and a substantial number of Marines to the Caribbean [1][2] - NATO allies are concerned about the US military actions, particularly the removal of the Gerald Ford aircraft carrier from the Mediterranean, which impacts NATO's presence [3] - Some allies view the US actions as potentially illegal, resembling the behavior they are opposing in Russia [4] - The UK government has reportedly ceased intelligence sharing with the US regarding operations against Venezuela, and the Dutch government is limiting intelligence sharing due to politicization concerns [4][5] Potential Motivations & Implications - The military buildup may be more than just intercepting drug boats, potentially signaling the beginning of military action [2] - There's speculation that the US actions could be a bluff, but the consequences of such a bluff being called are uncertain [2] - Deteriorating relationships with allies could weaken the US position, as the US is stronger with allies than standing alone [5]

Geopolitical Risks - Russia seeks legal recognition for its territorial claims, challenging the principles of territorial integrity and sovereignty [1][2] - The speaker emphasizes the danger of overlooking aggression and the need for strong responses [2] International Cooperation - Close collaboration with the United States and European partners is underway to address Russia's actions [1] - Ongoing efforts to find compromises with partners that strengthen Ukraine's position [2] Strategic Considerations - The current moment is described as critical, requiring careful decision-making amidst media noise and political pressure [1] - The speaker highlights the importance of not weakening Ukraine in the pursuit of compromises [2]

AI Leadership - The AI industry recognizes China and the US as the two leading countries in AI [2] - The UK is also considered a very powerful player in AI [2] Global Ambition in AI - Many regions and countries worldwide express excitement, energy, and ambition to participate in AI, aiming to catch up or surpass others in specific areas [2] China's AI Advancement - China demonstrates striking advances in AI, particularly in the number of patents and AI public papers, exemplified by the Deep Seek moment [1] - There is speculation on whether China will catch up with the US in AI, similar to its progress in manufacturing [1]

US-China Trade Relations - The US and China are attempting to build on positive momentum from a previous in-person meeting to hammer out a trade deal [2][3] - Trump mentioned he would visit China in April of next year and invited Xi to the White House for a state visit later in the year [2] - Discussions included trade, Russia's war in Ukraine, and purchases of soybeans and other farm products [3] Healthcare Policy & Affordability - The White House is trying to address rising health insurance premiums due to expiring Obamacare subsidies at the end of the year [5] - There is added pressure on the White House to address rising healthcare costs, as affordability was a winning message for Democrats in recent elections [5][6] - The President is involved in talks to unveil a healthcare proposal to fix the system and bring down costs for consumers [7] - The President hopes to secure a solution by January 30th, with a proposal potentially coming as early as this week [8] - A plan to alleviate the deadline with a two-year extension and limitations on eligibility has been postponed [4]

Market Performance - Semiconductor sector shows mega outperformance, up almost 5% [2] - S&P 500 finishes just over 1.5% higher at 6700, NASDAQ up 2.7%, Dow Jones up about 0.4% [6] - Communication services sector up 4%, tech up 2.5%, consumer discretionary up 1.8% [7] - Broadcom up 11% and Micron up 8% as top gainers in both S&P 500 and NASDAQ [9] Company Specifics - Micron's price target raised to $338 from $325 by Morgan Stanley [10] - HSBC adjusts Broadcom's price target to $535 from $400, maintaining a buy rating [12] - Alphabet up about 6.3%, nearly 70% year-to-date [12] - E W Scripps offered to be acquired by Sinclair for $7 per share in cash and stock, a 70% premium over Scripps' close on November 21st [13] - Novo Nordisk down 5.6% after a pill version failed to slow the progression of Alzheimer's disease in late-stage studies [13][14] - Copart shares down 4.5%, touching the lowest since 2023, J P Morgan analyst lowered the price target to $45 from $50 [15] - Zoom's third-quarter adjusted EPS at $1.52, better than the estimate of $1.44; fourth-quarter revenue projected at $1.23 billion to $1.24 billion [21] Market Trends - Nasdaq 100 trading volume is down about 45% from the average due to the holiday-shortened week [4] - Bitcoin is still below $90,000 a coin [4] - Alcohol consumption in the US is at its lowest level in decades, with Gen Z driving the trend towards cannabis and other mind-altering substances [24] - The day before Thanksgiving is the second biggest day of the year for legal U S cannabis sales [25]

Cryptocurrency Market Analysis - The cryptocurrency market experienced a significant pump due to the having event, ETF anticipation, and the Trump administration's involvement, suggesting a peak bull market phase [1] - The Bloomberg Galaxy crypto index is down 21% year-to-date, reversing earlier gains of almost a third, while Bitcoin is down about 10% year-to-date [2] - Technical analysis suggests a key support level for Bitcoin around $84,000 and resistance around $94,000, with a higher risk of breaking below the support level towards $50,000 [4][5] - $50,000 has been a key level for Bitcoin since 2020/2021 [5] Market Volatility and Risk - Stock market volatility is low, with 120-day volatility around 11% [2] - The cryptocurrency space is expected to undergo further de-risking towards the end of the year, posing a primary risk for Bitcoin [3] Gold Market Analysis - Gold is holding at the $4,000 level, supported by a stair-step rally pattern [5][6] - Gold's current position is extended versus its 60-month moving average, representing a three-standard deviation move, a situation not seen since the 1980s [6] - Gold's rally velocity is unprecedented given the low stock market volatility, raising concerns about potential volatility increase towards year-end [7] Real Estate Market Trends - The real estate market in Coral Gables, Florida, is showing signs of reduced prices and buyer activity [7][8] - Farmland in the Midwest is also experiencing reduced prices and a decline in offer acceptance [8]