Hala,
👀🎨 Bend, Oregon, has gone googly-eyed — literally. Mysterious googly eyes are popping up on public sculptures, turning “art” into “startling,” delighting residents, and making late-night TV.(1) The city’s plea to stop? Less fun, more funds. 🎭😂
⛷️📉 American stocks are on a downward slope.(2)The Dow slid for the seventh consecutive day, its longest losing streak since 2020, closing at 43,828 (-1.82% weekly). The S&P 500 dipped to 6,051.09 (-0.64%), while the Nasdaq 100 defied the trend, rising 0.73% to 21,780. There’s definitely a slight chill in the air! ❄️📉
📉🌍 Meanwhile, Gulf markets stayed subdued ahead of the Fed’s rate decision, while Qatar extended its rally for a fifth session.(3) 📈🌟
amana’s Take
- All eyes on the Fed this week. The main event hits Dec. 18 at 11:00 PM UAE time as markets brace for a 25-basis-point cut. But the real juice lies in the Fed’s Summary of Economic Projections (SEP) and Chair Jerome Powell’s 2025 outlook. The buzz? Fewer rate cuts ahead as policymakers try to thread the needle between inflation progress and a resilient economy.
- November retail sales are set to climb 0.5%, thanks to holiday spending that kept tills ringing. Inflation via the PCE index shows disinflation is still on track, but the road to that magic 2% target remains a little bumpy. Throw in manufacturing data, and investors have plenty of tea leaves to read this week.
- Despite shaky market breadth, the Nasdaq hit fresh record highs, with tech giants flexing their muscles. Traders now face the balancing act: elevated rates aren’t budging yet, but economic resilience — and a Fed that might not cut too aggressively — keeps the bulls in the ring. Buckle up; this week could set the tone for 2025.
🚀💸 BTC Rockets to $106K
Bitcoin’s meteoric rise mirrors a rocket breaking free from Earth’s gravity, fueled by the explosive promise of a U.S. crypto reserve. 🚀 The world’s biggest cryptocurrency skyrocketed to $106,533 on Monday, briefly grazing new heights before orbiting back to $104,462 (up 3.2%).(4) Ether followed suit, climbing 1.5% to $3,965. With talk of a U.S. Bitcoin Strategic Reserve, crypto enthusiasts are strapped in for the ride of their lives, cheering as Bitcoin barrels toward the $110,000 milestone. 🤑🌌
💸📈 Highs and Highlights:
- Bitcoin Blastoff: Hit $106,533, now trading at $104,462 (up 3.2%).
- Ether Energy: Climbed 1.5%, reaching $3,965.
- Market Boom: Total crypto market value soared past $3.8 trillion in 2024.
- Strategic Signals: President-elect Donald Trump hinted at a U.S. crypto reserve plan.
- MicroStrategy Magic: Added to Nasdaq-100, pushing its stock to the moon. 🚀📊
🌐💼 Crypto’s Cosmic Momentum
Trump’s comments sent Bitcoin soaring like a supernova, pulling the crypto market into its gravitational pull. His pro-crypto promises and moves — from naming David Sacks as AI & crypto czar to SEC picks like Paul Atkins — are fueling investor optimism. Meanwhile, global leaders debate Bitcoin’s strategic value, with Russia calling it a hedge against U.S. dollar dominance and China keeping its stake firmly planted. As Bitcoin rockets ahead, traders are glued to their screens, bracing for the next blastoff. 🌟🌍
Closer to Home
- 💰 Emaar is turning heads with its bold move: 100% of its share capital — AED 8.8 billion ($2.4 billion) — is heading straight back to shareholders for FY 2024. (5) That’s double last year’s payout! 🚀 💸.
- 🚗 Dubai’s Parkin is eyeing the Saudi market, following a deal with Tadawul-listed BATIC Investment and Logistics Company. Tech is on the agenda too: AI, digital gates, sensors, and smart cameras…(6) Looks like finding a parking spot in Saudi is about to get a whole lot smarter. 🅿️
- 💼 Qatar’s domestic credit rose 6.4% year-on-year to $357 billion in October 2024, while total commercial bank assets grew 3.5% to hit $549 billion, according to the Qatar Central Bank. (7) Banking is clearly leading the charge. 🏦
What Else Is Trending
- 📱 Sources say Apple’s next-gen iPhone SE 4 is launching in March 2025. Allegedly, it will be its largest and most affordable AI-powered device, priced at $499–$549.(8) Looks like even AI is getting a budget option! 🤖
- 📉 The Fed is set to trim rates this Wednesday, but future cuts are anyone’s guess, with stubborn inflation and a cooling job market in play.(9) Seems Powell’s New Year’s resolution is to keep us all guessing! 🤔
- 🌟 Universal’s Wicked has soared past $525M globally in just a few weeks, becoming the second-highest-grossing stage adaptation ever — just behind Mamma Mia!(10) Looks like the world is under Wicked’s spell!
💬Quote of the Day
“For example, Bitcoin, who can prohibit it? No one.” — Vladimir Putin
Build your plan: https://amana.app/campaigns/amanainvest
Source:(1) AP News,(2) CNBC (3) Reuters, (4)(5)(6)(7) Zawya, (8) Trend Force (9) Investopedia(10)Geek Culture
