Stocks

On December 20, 2025, performance data showed gold and silver-focused funds led 2025 rankings. Franklin Gold and Precious Metals Fund returned 184.33%, with multiple UK and EU strategies posting gains above 150%. Record gold above $4,300/oz and silver crossing $60/oz were cited as drivers, alongside easing-rate expectations and macro uncertainty.

On December 20 2025, the Delaware Supreme Court reversed a 2024 ruling and reinstated Elon Musk's $56 billion Tesla compensation plan from 2018, returning 303 million shares valued at about $150 billion. The decision leaves Tesla to determine the fate of a newer pay proposal that could have reached $1 trillion, while awarding $54.5 million in legal fees to the shareholder plaintiff's attorneys.

Moore Threads unveiled new AI hardware in Beijing, with CEO Zhang Jianzhong introducing the Huagang architecture and Huashan chips aimed at reducing reliance on Nvidia. Zhang said Huagang raises computing density by 50% and improves energy efficiency ten times, and the company expects mass production in 2026 alongside updates to its MUSA platform and server lines.

Bernstein said Nvidia is trading at 25x forward earnings, putting it in the 11th percentile of its 10‑year valuation range and about a 13% discount to the PHLX Semiconductor Sector Index. The firm maintained an outperform rating with a $275 price target, noting shares are up 34% in 2025 while the PHLX Semiconductor Index has gained 41%.

In October, MSCI proposed removing companies like Strategy, whose digital assets make up at least 50% of total assets, from its global equity benchmarks. Analysts at TD Cowen and JPMorgan estimate that Strategy could face between $2.8 billion and $8.8 billion in share outflows if it is dropped from MSCI and other major indexes. The firm's executives warn that such exclusions could hinder access to around $15 trillion in passive capital and pressure the wider Bitcoin treasury segment.

Bitcoin hovered around $90,000 and repeatedly failed to hold above $92,000 over the past month amid softer US labor data and cooling growth. On Dec. 9 Target trimmed its fourth quarter outlook; on Dec. 10 Macy's warned inflation would squeeze margins; on Dec. 18 Nike posted lower quarterly sales. The chance of a Jan. 28 rate cut fell to 22% and the 10-year Treasury yield stood at 4.15%.

Google is backing Bitcoin miners with at least $5 billion in credit guarantees to fund AI data center pivots, rather than investing directly. Miners such as Cipher, IREN, TeraWulf and Hut 8 supply land and power while Fluidstack signs long-term leases; Google backs those obligations. Related miner stocks climbed 300–500% in 2025, and Google took warrants of 14% (TeraWulf) and 5.4% (Cipher).

On December 19, 2025, silver reached a record $69.6/oz, rising 2.3% intraday and securing an 8.1% weekly advance after touching $67.20 earlier. Gold climbed to $4,346.69/oz, with futures at $4,380, while softer inflation and a weaker labor report bolstered rate‑cut hopes. U.S. equities rose, led by Oracle’s 8% jump tied to a planned TikTok U.S. venture.

BlackRock's spot Bitcoin ETF, IBIT, ranked sixth by 2025 year-to-date inflows even as it posted a roughly 9.6% loss for the year. The fund has taken in about $25.4 billion in net inflows, outpacing several equity and commodity ETFs, including GLD. The snapshot was highlighted on December 19, 2025.

On 19 December 2025, VanEck outlined updates to its proposed Avalanche ETF, shaping it as a low-fee, staking-enabled vehicle, according to recent disclosures. The filing indicates Coinbase Crypto Services would manage staking, with rewards returning to the trust and facilitation fees set at zero. The fund is planned for Nasdaq trading under a dedicated ticker, pending regulatory approval.