Good morning investors! Fear still continues to rule as crypto struggles to break out.
Today we cover:
Rate cut today?
Nvidia to China
Being among the top 10%
📊 Economy and News
Fed Set for December Rate Cut, But Likely to Signal Pause Ahead
The Federal Reserve is widely expected to deliver its third consecutive 0.25 percentage point rate cut today, lowering the federal funds rate to a target range of 3.50%–3.75%. However, the move is likely to be a “hawkish cut,” with the central bank signaling that further reductions are now much less probable in the near term.
The FOMC remains divided: some members want to keep easing to guard against labor-market weakness, while others believe policy has eased enough and worry that additional cuts could rekindle inflation, which remains stuck at 2.8%—well above the 2% target.
Recent data showed job openings little changed, hiring down sharply, and layoffs rising, but tariff effects and sticky prices continue to concern the inflation hawks.
Investors will closely watch the updated “dot plot” of individual rate projections, any changes to the statement language that raise the bar for future cuts, Chair Powell’s tone at the press conference, and possible hints about ending quantitative tightening or resuming bond purchases.
Most economists and former Fed officials expect the cut to go through but anticipate a clear message that the cutting cycle is effectively pausing unless economic conditions deteriorate significantly or inflation cools faster than forecast.
Global hits:
Global trade set to grow 7% to pass record $35 trillion this year.
New Zealand central bank says no preset policy path as inflation outlook guides decisions.
France on course for fourth quarter growth of 0.2%.
Don’t forget: China’s trade surplus hits $1 trillion in just 11 months despite plunge in shipments to US.
Nearly a third of American teens interact with AI chat bots daily.
Trump says he’ll sign executive order blocking state AI regulations, despite safety fears.
Reminder: US bank regulator says banks can act as crypto intermediaries. Also, Hassett likely next Fed chair, but most think Trump should nominate someone else. Furthermore, Trump threatens Mexico with even higher tariffs.
U.S. job openings barely budged in October, coming in at 7.7 million.
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📈 Stocks
S&P 500 6 840,51 (-0.088%)
DJIA 47 560,29 (-0.37%)
NASDAQ 23 576,49 (+0.13%)
BRENT CRUDE 61.94 (-0.88%)
* Prices as of Dec 11th, 12:20 AM UTC
Trump Lifts Nvidia H200 Chip Export Ban to China, Sparks GOP Backlash
President Donald Trump announced he is removing U.S. export restrictions on Nvidia’s high-performance H200 AI chips to China, allowing sales to vetted customers in exchange for 25% of revenue going to the U.S. government.
Trump described the move as maintaining strong national security while enabling American companies to compete, noting Chinese President Xi Jinping responded positively.
Nvidia praised the decision, calling it a “thoughtful balance” that supports U.S. jobs and manufacturing. Similar arrangements are being finalized for AMD, Intel, and other American chipmakers.
However, several prominent Republicans quickly criticized the reversal arguing it could accelerate China’s military AI capabilities and close the AI compute gap.
Interesting: Eli Lilly to build $6 billion manufacturing plant in Alabama to help make upcoming obesity pill, other drugs. Elsewhere, Pfizer adds to obesity bet with up to $2.1 billion deal to develop Chinese company’s pill.
Surprising: Ray-Ban maker EssilorLuxottica fell 5.7% after Google plans AI glasses launch. Also, Walmart has joined the big names as it plans build an AI and e-commerce powerhouse.
💵 Personal Finance
How Much You Need to Join America’s Top 10% Wealthiest Households in 2025
A new Visa analysis using 2024 Census data reveals the income and net worth required to rank in the top 10% of U.S. households (defined as “affluent”).
National thresholds (2025):
Income: ~$210,000/year
Net worth: ~$1.8 million
Since 2020, the income cutoff has risen ~23% (from $170K) and net worth has climbed ~38%, driven by surging home prices and stock market gains.
By region (adjusted for local cost of living):
West: $227,000 income | $2.0M net worth
Northeast: $222,000 income | $1.9M net worth
South: $205,000 income | $1.8M net worth
Midwest: $198,000 income | $1.7M net worth
Higher housing costs in the West and Northeast push the bar highest, while the Midwest remains the most “accessible” region for reaching the top 10%.
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