Economic Outlook - U.S. rate futures indicate an 83.9% probability of no rate change and a 16.1% chance of a 25 basis point rate cut at the Fed's January meeting [1] - Continued soft economic data may lead to expectations of a dovish Federal Reserve stance in 2026, with markets pricing in two rate cuts by the end of the year [2] - The U.S. December ISM manufacturing index unexpectedly fell to 47.9, marking the lowest reading of the year and the 10th consecutive month of contraction in the factory sector [2] Stock Market Performance - Wall Street's main stock indexes ended positively, with the Dow reaching a new all-time high, driven by energy stocks following President Trump's proposal to revive Venezuela's oil industry [3] - Valero Energy surged over +9% and Chevron climbed more than +5%, while most chip stocks advanced, with KLA Corp. rising over +6% and Applied Materials gaining more than +5% [3] - International Business Machines (IBM) rose more than +1% after Jefferies upgraded the stock to Buy from Hold with a price target of $360 [3] Key Economic Data Releases - Investors are looking forward to key U.S. economic data this week, including the S&P Global Composite PMI, with economists forecasting an unrevised final December figure of 53.0 [4] - The U.S. S&P Global Services PMI is also expected to remain unrevised at 52.9 [5] European Market Insights - The Euro Stoxx 50 Index is down -0.44% after hitting a record high, with technology stocks retreating due to profit-taking, while healthcare and energy stocks advanced [6] - Eurozone's December Composite PMI came in at 51.5, and Services PMI stood at 52.4, both weaker than expectations [7] Asian Market Developments - China's Shanghai Composite Index closed up +1.50%, reaching its highest level in over a decade, with non-ferrous metal and insurance stocks leading the gains [9] - Japan's Nikkei 225 Stock Index also closed higher, hitting a record high, with bank and brokerage stocks among the biggest gainers amid expectations for gradual rate hikes from the Bank of Japan [10] Corporate News - Microchip Technology rose over +4% in pre-market trading after raising its Q3 revenue guidance [11] - Vistra Corp. gained more than +4% after agreeing to buy Cogentrix Energy for about $4 billion [11] - Zeta Global jumped over +11% after announcing a partnership with OpenAI [11]