Most Important News

1. ADP Adds 41K Jobs December
2. Wall Street Banks Name Nvidia 2026's Strongest AI Play After Huang's CES Speech
3. Morgan Stanley Predicts Gold Hits $4800

US stock futures were mostly flat Wednesday after the S&P 500 index(SPX.US) and the Dow Jones Industrial Average(DJI.US) notched fresh records.

As of 08:10, EST (or 4:10 PM in Riyadh), futures tied to the 30-stock Dow added 27 points, or less than 0.1%. S&P 500 futures fell 0.09%, and NASDAQ-100(NDX.US) futures slipped 0.23%.

As of 04:42 PM Riyadh Time, top pre-market movements are as follows:

ADP Adds 41K Jobs December

ADP reported 41,000 private hires in December, reversing November’s 29,000 loss, though the result came in slightly below the 48,000 Dow Jones consensus estimate; the print offers a modest improvement after payrolls fell in three of the prior four months.

Morgan Stanley Predicts Gold Hits $4800

Morgan Stanley has sharply raised its gold price target to $4,800 per ounce for 2026, driven by the Federal Reserve's easing cycle, geopolitical risks, and sustained central bank purchases. In a January 5 research report, the bank cited macroeconomic uncertainty, Fed leadership changes, and weakening dollar conditions as key catalysts strengthening gold's safe-haven appeal. Spot gold already posted a historic 64% gain in 2025—the strongest annual performance since 1979—with bullish market consensus now firmly established.

Citi Predicts DRAM Prices Surge 88%

Citi has issued a stark warning of severe memory chip shortages in 2026, dramatically revising price forecasts upward. The bank now projects DRAM average selling prices will surge 88% (up from 53% previously) and NAND prices will jump 74% (versus 44% prior estimate), driven by surging AI Agent adoption and AI CPU memory requirements. Analysts predict a seller's market where pricing power shifts entirely to storage giants like Samsung, with supply constraints creating what they describe as an "out-of-control" price environment that exceeds even Nomura's bullish outlook.

Fed's Mester Calls for Over 100bps Rate Cuts in 2026, Says Policy Restrictive

Federal Reserve Governor Stephen Mester stated that the US central bank will need to cut interest rates by more than 100 basis points in 2026, arguing that monetary policy is restrictive and currently "weighing on the economy," adding, "I think it's hard to argue policy is roughly neutral."

MicroStrategy Rises 4% Pre-Market After MSCI Rejects Digital Asset Treasury Firm Removal Plan

Strategy (MSTR.US) gained nearly 4% pre-market after MSCI announced it will not implement a proposal to exclude Digital Asset Treasury Companies (DATCOs) from its global investable market indices in its February 2026 review. MSCI stated it will launch a broader consultation on the treatment of non-operating companies in general, leading to a rise in MicroStrategy shares.

Ventyx Biosciences Soars 57% on Reports Lilly Nearing Over $1B Acquisition Deal

Ventyx Biosciences, Inc.(VTYX.US) surged over 57% on reports that Eli Lilly and Company(LLY.US) is in advanced negotiations to acquire the firm for over $1 billion to expand its immunology portfolio. The San Diego-based biotech focuses on developing treatments for inflammatory diseases like Crohn's and rheumatoid arthritis, with the proposed deal set to increase its market value by $433.9 million.

GameStop Gains on CEO Long-Term Award Plan

GameStop Corp. Class A(GME.US) gained over 6% pre-market after announcing a long-term performance award for CEO Ryan Cohen, which includes options to purchase up to 171.5 million company shares. The first tranche vests upon reaching a $20 billion market cap, with the overall plan designed to incentivize management to drive growth toward a $100 billion valuation target.

Mobileye Jumps on $900M Robotics Startup Acquisition

Mobileye Global, Inc. Class A(MBLY.US) jumped over 10% pre-market after agreeing to acquire Israeli humanoid robotics startup Mentee Robotics in a cash-and-stock deal valued at $900 million. The transaction includes $612 million in cash and up to 26.23 million Mobileye Class A shares and is expected to close in Q1 of this year.

Wall Street Banks Name Nvidia 2026's Strongest AI Play After Huang's CES Speech

Following Nvidia CEO Jensen Huang's keynote at CES 2026, major Wall Street firms Bank of America Securities and Evercore ISI both highlighted NVIDIA Corporation(NVDA.US) as the strongest AI stock for 2026, reigniting investor confidence.

Precious Metals Plunge, Gold Stocks Slide Pre-Market

Precious metals saw a sharp decline, with US gold stocks falling further pre-market. Gold Fields Limited Sponsored ADR(GFI.US) dropped nearly 5%, while Harmony Gold Mining Co. Ltd. Sponsored ADR(HMY.US) and Anglogold Ashanti PLC(AU.US) fell over 3%. Newmont Corporation(NEM.US) and Pan American Silver Corp.(PAAS.US) also declined more than 2%. The drop follows a significant retreat in precious metals prices, with spot gold falling below $4,450 per ounce and spot silver down over 3% intraday.