Overnight US stocks | The three major indexes closed higher this week with gains exceeding 3%. Silver historically broke through $55.

On Friday, the three major indices closed higher. This week, all three major U.S. stock indices saw significant gains, with the Dow Jones Industrial Average up 3.18% for the week, the S&P 500 up 3.73%, and the Nasdaq up 4.91%. Analysts say market sentiment has returned to a risk-on mode. [US Stocks] At the close, the Dow rose 289.30 points, up 0.61% to 47,716.42 points; the Nasdaq rose 151.00 points, up 0.65% to 23,365.69 points; the S&P 500 rose 36.48 points, up 0.54% to 6,849.09 points. Intel Corporation (INTC.US) rose over 10%, Meta Platforms (META.US) rose over 2%, and AMD (AMD.US) rose over 1%. [European Stocks] The German DAX30 index rose 74.29 points, up 0.31% to 23,852.08 points; the UK's FTSE 100 index rose 26.77 points, up 0.28% to 9,720.70 points; the French CAC40 index rose 23.24 points, up 0.29% to 8,122.71 points; the Euro Stoxx 50 index rose 16.98 points, up 0.30% to 5,670.15 points; the Spanish IBEX35 index rose 12.65 points, up 0.08% to 16,374.45 points; and the Italy's FTSE MIB index rose 161.13 points, up 0.37% to 43,381.00 points. [Crude Oil] WTI crude oil for January delivery on the New York market fell 0.2% to $58.55 per barrel. Brent crude oil for February delivery fell 0.8% to $62.38 per barrel. It was reported that U.S. President Trump spoke with Venezuelan leader Maduro last week to discuss a potential meeting. Easing tensions between the two countries will significantly reduce the risk premium on oil. [Cryptocurrency] Bitcoin fell 0.2% to $91,140.36, while Ethereum rose 0.89% to $3,041.23. [Precious Metals] Spot gold rose over 1.5% to $4,220.31. [Macroeconomic News] Trump: Any documents signed by Biden using an auto-pen are now null and void. U.S. President Trump stated on social media that any documents or executive orders signed by former President Joe Biden using an auto-pen should be "terminated" as they "no longer have any effect." Trump claimed that Biden used an auto-pen to sign about "92%" of documents and accused the device of operating "illegally" without Biden's involvement. International spot silver hits a historic high above $55, with a year-to-date gain of over 90%. During Friday's U.S. session, the international spot silver price rose over 3%, reaching a historic high above $55 per ounce, with a year-to-date gain of over 90%. U.S. securities broker and writer Peter Schiff bluntly stated in a recent social media update that if you're not on-board, you're missing out. Another analyst pointed out that people should not be surprised that the silver price has surged above $55, given the accumulation of DRIVE throughout the year, the uncontrolled U.S. deficit, the Fed's increasingly talked-about rate cuts in the midst of inflation remaining around 3%, and the increasing demand for safe-haven assets all driving the price. UK to tighten crypto asset taxation, exchanges must report full user data from 2026. The UK's HM Revenue & Customs (HMRC) has issued new regulations requiring all cryptocurrency exchanges operating in the UK to collect and retain full transaction records of users starting from January 1, 2026, and to report them in full to HMRC by 2027 for cross-checking tax filing information and combating cryptocurrency tax evasion. UK tax experts warn that cryptocurrency users need to organize their tax affairs by the end of 2026 to avoid potential sanctions. [Stock-specific News] Tesla, Inc. (TSLA.US) launches FSD supervised driving in Europe. Tesla, Inc. has launched a project in Italy, France, and Germany that allows the public to experience the FSD system's navigation process on city roads under supervised driving mode. According to an announcement on Tesla, Inc.'s official European and Middle Eastern account on X platform, the project invites participants to "sit in the passenger seat, experience how the FSD system handles real traffic conditions, and the most stressful scenarios in everyday driving, creating a safer road environment for everyone". Ming-Chi Kuo: Intel Corporation (INTC.US) expected to start shipping Apple Inc.'s lowest-tier M processors at the earliest in 2027. Ming-Chi Kuo, an analyst at Tianfeng International Securities, stated that there have been rumors that Intel Corporation will become a supplier of advanced processors to Apple Inc., but this rumor has lacked visibility. However, recent industry surveys show that Intel Corporation's visibility as a supplier of advanced processors to Apple Inc. has significantly improved. According to an announcement on Tesla, Inc.'s official European and Middle Eastern account on X platform, the project invites participants to "sit in the passenger seat, experience how the FSD system handles real traffic conditions, and the most stressful scenarios in everyday driving, creating a safer road environment for everyone". [Major Banks' Ratings] Morgan Stanley: Expecting strong performance of U.S. stocks next year, with a target price of 7,800 points by the end of 2026, believing that the U.S. economic downturn has ended, and policy support and strong earnings will continue.