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OpenAI founder Altman: Excited about our "upcoming chip".
Disney CEO: We have been in dialogue with Google, primarily to express our concerns about intellectual property.
According to the Wall Street Journal: Ford and SK will terminate their U.S. electric vehicle battery partnership.
EIA Natural Gas Report: For the week ending December 5, total U.S. natural gas inventories were 3,746 billion cubic feet, down 177 billion cubic feet from the previous week and down 28 billion cubic feet from the same period last year, a year-on-year decrease of 0.7%, while 103 billion cubic feet higher than the 5-year average, an increase of 2.8%.
The U.S. EIA natural gas storage change for the week ending December 5 was -177 billion cubic feet, the largest drop since the week ending February 21, 2025.
U.S. EIA natural gas inventories for the week ending December 5 were -177 billion cubic feet, compared to an expected -166 billion cubic feet and a previous -12 billion cubic feet.
The WHO chief said he hopes the US will reconsider its withdrawal from the WHO, arguing that the US's absence from the WHO would be a "lose-lose" situation, and that "the rest of the world will also suffer losses."
The U.S. EIA natural gas storage data for the week ending December 5 will be released in ten minutes.
December 11th - According to the Ministry of Industry and Information Technology, in the first 11 months of this year, the National Industry-Finance Cooperation Platform facilitated an additional 289.7 billion yuan in financing for enterprises, bringing the cumulative total to over 1.3 trillion yuan. Of this, 70% of the financing was provided to specialized, refined, and innovative enterprises, as well as manufacturing single-item champions. Currently, the Ministry of Industry and Information Technology has promoted the establishment of 66 pilot cities for National Industry-Finance Cooperation, advanced investment and financing roadshow activities for the integration of science, technology, industry, and finance, and helped over 130 hard-tech projects secure equity financing exceeding 11 billion yuan.
US wholesale sales fell 0.2% month-on-month in September, below the expected 0.4% and the previous reading of 0.10%.
Denmark, which holds the rotating presidency of the European Union, said that EU governments have agreed to initiate written procedures to freeze Russian assets indefinitely.
Kremlin: Russian President Vladimir Putin will meet with Iranian President Sergei Pezechyan in Turkmenistan.
The EU has given preliminary approval to a (Russian) asset freeze agreement to finance loans to Ukraine.
The U.S. September wholesale sales month-on-month rate will be released in ten minutes.
According to Axios: Ukrainian, U.S., and European officials will meet in Paris on Saturday to discuss a peace plan.
U.S. natural gas futures fell more than 5% to their lowest level in a month, as forecasts for milder weather next week, lower demand, and near-record production levels prompted a decline.
The Nasdaq fell further to 1%, Nvidia (NVDA.O) dropped more than 3%, and Oracle (ORCL.N) remained down over 14%.
On December 11th, Howard Marks, co-founder of Oaktree Capital Management, warned that the Federal Reserve's "intervention" in the cost of funding will push people towards riskier investments as the returns environment slows. He stated that he does not believe interest rates need to be significantly lower than current levels. Marks said, "I think the Fed should remain passive most of the time, only intervening when the economy is severely overheated and heading towards runaway inflation, or severely depressed and unable to create jobs. I don't think that's the case right now." Earlier this week, in a blog post, Marks wrote that he was "terrified" of the impact of artificial intelligence on employment and questioned the practice of hyperscale companies issuing large amounts of debt at extremely low yields to finance AI deployments while the demand for AI remains uncertain.
Disney (DIS.N) rose 2% after announcing a $1 billion investment in OpenAI and the introduction of its cartoon characters into SORA.
On December 11, Oracle (ORCL.N) fell as much as 16%, marking its biggest single-day drop since March 2001, wiping out $102 billion in market value.
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