Separate coverage in the South China Morning Post indicated that ByteDance, parent company of TikTok, could spend up to 100 billion yuan (US$14 billion) on Nvidia’s H200 chips next year if import approvals are secured. That potential outlay would exceed the estimated 85 billion yuan (about US$12 billion) the firm spent in 2025, underscoring China’s appetite for high-performance computing components.
In the consumer space, Nike disclosed in a regulatory filing that Chief Executive Elliott Hill purchased approximately US$1 million of company stock. Insider buying is often interpreted by investors as a vote of confidence in future earnings prospects. Nike shares have advanced alongside broader discretionary names this year, but management’s open-market purchase drew particular attention on the final session of 2025.
Brokerage activity remained brisk. Citizens raised its price target on Alphabet to US$385 from US$340 while reiterating a buy rating, citing ongoing strength in search advertising and the potential lift from the company’s custom silicon initiative. Alphabet shares have climbed 66% year-to-date, and analysts argued that new product announcements could extend momentum in 2026.
Mergers and acquisitions were another bright spot. LSEG data show that 2025 produced 68 transactions valued at more than US$10 billion, the highest annual total since records began in 1980. Bankers quoted by The Wall Street Journal expect the pace of megadeals to accelerate next year, a trend that could benefit advisory-heavy firms such as Goldman Sachs. Deal pipelines reportedly remain full as corporate borrowers take advantage of still-accommodative financing conditions.
Elsewhere in financials, Citi boosted its price target on Capital One Financial to US$310 from US$290, projecting roughly 27% upside from Tuesday’s close. The bank kept a buy rating and forecast that forthcoming fourth-quarter results could top consensus estimates, helped by resilient credit-card spending and controlled charge-offs.
In macroeconomic news, Chinese President Xi Jinping used his televised New Year’s address to affirm that the country will meet its 5% gross domestic product growth target for 2025. Xi said China must “remain confident, seize the momentum and steadily advance high-quality development,” signaling that policymakers intend to maintain pro-growth measures while emphasizing economic restructuring.
On the automotive front, Tesla gained modestly in pre-market trading after Chief Executive Elon Musk wrote on social media that production of the company’s autonomous “Cybercab” is scheduled to ramp up in April. The update added to investor anticipation surrounding Tesla’s next wave of vehicle launches and its broader self-driving strategy.
With trading volume typically thin during the holiday period, market participants are balancing position adjustments with headline-driven swings. Wednesday’s session closes out a year characterized by robust technology demand, a resilient consumer, and shifting expectations for monetary policy. The first full trading week of 2026 will resume on Friday, when investors will digest any additional corporate disclosures and fresh economic indicators.
Crédito da imagem: CNBC
