Futures Drop As Silver Slides From Record

Market Overview - Stocks are experiencing modest losses as trading begins, with S&P 500 futures down 0.3% and Nasdaq 100 contracts down 0.4% [1] - Tesla and Nvidia are leading the premarket losses among the Magnificent Seven, both down more than 1% [3] - Precious metals are the focus, with silver initially surpassing $80 before retreating, and gold also pulling back from its all-time high [1][4] Precious Metals - Silver prices spiked as much as 6% before profit-taking caused a sharp retreat, with the metal falling over 6% after hitting $84 [4][7] - The surge in silver prices has been driven by strong Chinese investment demand, with premiums for spot silver in Shanghai reaching over $8 an ounce above London prices, marking the largest spread on record [7] - Silver has risen more than 40% since the start of the month, influenced by central bank purchases and expectations of further rate cuts by the Fed [10] Corporate News - DigitalBridge Group shares soared 33% as SoftBank is reportedly in advanced talks to acquire the private equity firm [5] - Coupang gained 2% after announcing over $1 billion in compensation for customers affected by a significant data breach [5] - Energy Fuels reported a 3% increase in shares after exceeding its 2025 uranium production and sales guidance [5] Economic Indicators - The economic calendar includes November pending home sales and December Dallas Fed manufacturing activity, with no major corporate events scheduled [18]