2026 market drivers, Elon Musk tweets silver pullback is not good, Nvidia's Groq deal

Market Overview - Precious metals trade is experiencing a decline, with silver prices down nearly 3% after reaching a record above $80 an ounce, and its market cap briefly surpassing Nvidia's at $4.63 trillion [1][2] - Bitcoin has broken out of an 11-week downtrend, trading above $90,000, although it has since pulled back [2][3] - Major indices, including the Dow Jones, S&P 500, and Nasdaq, are up by double-digit percentages year-to-date, but are showing bearish trends ahead of the holiday trading week [4] Industry Insights - Chris Versace from Tamatica Research notes that investors are preparing for 2026, with a focus on upcoming earnings growth and the CES event potentially driving new AI adoption [5][6] - Edardini expects productivity growth to drive momentum into 2026, with bullish S&P 500 targets as high as 7,100, and earnings growth of about 10% anticipated [8][9] - There is a broadening out of the AI trade beyond the MAG 7 stocks, with expectations that AI users will also contribute to productivity growth [10][11] Commodity Market Dynamics - Silver's price surge has raised concerns about its impact on industrial applications, especially with China imposing export restrictions starting January 1 [13][16] - The precious metals market has seen significant volatility, with silver prices increasing by 155% over the past year before recent declines [15] - The demand for industrial metals remains high, which could affect profit margins for companies reliant on these materials [17][18] Company Developments - Digital Bridge shares surged after SoftBank announced a $4 billion acquisition, focusing on data centers and digital infrastructure [33] - Nvidia completed a stock sale to Intel, acquiring over 200 million shares, as part of a $5 billion stake [34] - Lululemon's founder is initiating a proxy fight to change the board amid a 40% stock decline this year, with Elliot Investment Management also involved [36] Strategic Moves in Tech - Nvidia's $20 billion acquisition of Grock has raised questions due to the lack of an SEC filing, indicating a significant competitive move in the AI space [39][40] - Amazon's stock performance is under scrutiny, with concerns about AWS growth and its potential as an AI player [45][46] - Marll is highlighted as a key tech stock for the upcoming year, benefiting from increased AI adoption and network congestion [53]