[Market Summary]
The three major New York indices closed higher on January 5 (local time), led by a rally in energy stocks following U.S. geopolitical moves in Venezuela. The Dow Jones Industrial Average hit a new record high.
Dow Jones: 48,977.18 (+594.79 pts, +1.23%) ★ Record High
S&P 500: 6,902.05 (+43.58 pts, +0.64%)
Nasdaq: 23,395.82 (+160.19 pts, +0.69%)
The energy sector spearheaded the gains on expectations that U.S. companies will lead the reconstruction of Venezuela's oil infrastructure. Financial stocks like Goldman Sachs and U.S. Bancorp also rose on optimism for U.S. economic strength. In commodities, gold futures surged 2.96%, while Bitcoin remained steady in the $94,000 range.
[Key IB Investment Opinions]
Amazon (AMZN): Evercore ISI maintained Outperform ($335), highlighting the massive potential of the AI shopping assistant 'Rufus.'
ASML: Bernstein upgraded from Market Perform to Outperform, citing multiple positive catalysts for 2026.
Coinbase (COIN): Goldman Sachs upgraded to Buy, noting its expanding presence in crypto derivatives.
Citigroup (C): Wells Fargo named it a Top Pick in banking, raising the target from $125 to $150 on deregulation hopes.
Oracle (ORCL): UBS maintained Buy but lowered the target to $280, reflecting lowered confidence in the OpenAI partnership.
Uber (UBER): Melius Research downgraded to Sell, warning of intensifying competition in the ride-sharing market.
[Featured Stocks & Analysis]
■ Tech & AI Infrastructure
Alphabet (GOOGL): Google's TPU patent filings surged to ~400 in 2023, far outstripping peers. TPU shipments are expected to grow 40% in 2026 as Big Tech seeks to reduce reliance on Nvidia.
Apple (AAPL): Development of AirPods Pro 3 with IR cameras is underway to enhance AI-driven environmental recognition.
Intel (INTC): Melius Research upgraded to Buy ($50), focusing on the 14A node (2027). Rumors suggest Nvidia and Apple may use this node by 2028.
TSMC (TSM): Goldman Sachs raised the target to NT$2,330. The company is expected to invest $150B over three years to meet insatiable AI demand.
Foxconn (HNHPF): Reported record Q4 revenue of $83B (+26.4% YoY), driven by strong AI server demand for Nvidia.
■ Electric Vehicles & Mobility
Tesla (TSLA): Reported Q4 deliveries of 418,227 units. While slightly below consensus (~423k), analysts called it "better than feared." Focus remains on the 2026 Robotaxi launch and FSD progress.
Mobileye (MBLY): Barclays upgraded to Overweight, citing an attractive risk/reward profile.
Uber (UBER): Faces risks as Waymo and Tesla expand independent autonomous networks, potentially threatening Uber’s platform role.
■ Consumer & Retail
Costco (COST): Mizuho upgraded to Buy ($1,000) and added it to the 2026 Top Picks list, dismissing recent membership growth concerns as temporary.
Nike (NKE): BTIG named it a 2026 Top Pick ($100), anticipating a turnaround fueled by product innovation and the 2026 World Cup.
Chipotle (CMG): Mizuho raised the target to $36, noting aggressive promotions are protecting sales volume despite margin pressure.
Estee Lauder (EL): Raymond James upgraded to Strong Buy ($130), predicting 2025 was the bottom for the beauty giant.
■ Crypto & Energy
MicroStrategy (MSTR): Acquired 1,286 more Bitcoins, bringing the total to 673,783 BTC. Despite unrealized digital asset losses, it maintains a massive $2.25B cash reserve.
Energy Sector: Chevron (CVX), ExxonMobil (XOM), and SLB gained significantly on expectations of renewed Venezuelan operations.
[After-Hours Highlights]
Zeta Global (ZETA): +7% on a strategic partnership with OpenAI.
Vistra Energy (VST): +5% after announcing the $4B acquisition of Cogentrix Energy.
Under Armour (UAA): +7% following news that Fairfax Financial disclosed a 22.2% stake.
