JH Kim

On the 5th (local time), according to economic breaking news channel Walter Bloomberg, Russia urged the United States to release Venezuelan President Nicolás Maduro and his wife. That day, Russia's permanent representative to the UN said in a statement, "The United States must immediately release President Maduro and his wife," criticizing that "the actions carried out by the United States in Venezuela have no legitimacy." He went on to describe the U.S. measures as "crimes(crimes)", and argued they were acts that clearly violated Venezuela's sovereignty and international law. These remarks were raised after reports emerged that President Maduro and his wife had been taken into custody by U.S. authorities.

Goldman Sachs expects December U.S. employment indicators to exceed market consensus. On the 5th (local time), according to the economic news channel Walter Bloomberg, Goldman Sachs forecast that nonfarm payrolls will increase by 70,000 in December, which exceeds the market expectation of a 54,000 increase. It also predicted that the unemployment rate will fall to 4.5%. However, in detail, it analyzed that private sector employment growth will continue at a moderate pace, and construction sector employment may slow. Conversely, due to adjustments for federal government furloughs, government employment is expected to decrease by about 5,000. Goldman Sachs said that overall the labor market remains resilient, and despite short-term concerns about an economic slowdown, the fundamental strength of the U.S. labor market is being maintained.

The three major U.S. stock indexes are showing an upward trend. The Nasdaq Composite is trading at 23,401.58 points, up 0.71% from the previous close as of 00:03 on the 6th. The Dow Jones Industrial Average is 1.17% higher at 48,949.09 points, and the S&P500 index is 0.60% higher at 6,899.89 points.

U.S. President Donald Trump made additional remarks regarding the custody of Venezuelan President Nicolás Maduro. On the 3rd (local time), according to economic news channel Walter Bloomberg, President Trump said, "Maduro is currently aboard a U.S. ship (US ship) and is being transferred to New York." Earlier, multiple foreign media outlets reported that President Maduro and his wife had been detained by U.S. authorities and are expected to face indictment proceedings in the Southern District of New York (SDNY). There is also mention that they could appear in court as early as next week. The United States has accused the Maduro regime of drug trafficking, money laundering, and involvement in organized crime, and has continued to impose strong sanctions and legal measures. If President Trump's remarks are confirmed to be true, they are expected to have significant repercussions across Venezuela's domestic politics and international diplomatic relations.

Nicolás Maduro, the President of Venezuela, and his wife are reportedly currently detained by U.S. authorities and are expected to face indictment proceedings in the U.S. District Court for the Southern District of New York (SDNY). On the 3rd (local time), according to the economic breaking-news channel Walter Bloomberg, the Maduro couple are in the custody of U.S. authorities and are expected to be transferred to New York soon. They are reportedly likely to appear in court as early as next Monday, but the exact schedule has not yet been confirmed. A source said, "President Maduro and his spouse will undergo judicial proceedings related to the indictment brought by the U.S. Attorney's Office for the Southern District of New York," adding, "At present, the timing of their court appearance and the specific charges have not been disclosed." The United States has long exerted pressure on the Maduro regime over allegations including drug trafficking, money laundering, and involvement in organized crime, and has also brought multiple indictments and sanctions against President Maduro personally. Analysts say that if the reported apprehension is confirmed, it could have significant repercussions for Venezuela's domestic situation as well as the international diplomatic landscape.

The three major U.S. stock indices closed higher. The Nasdaq Composite rose 0.65% from the previous day on the 3rd to 23,248.01 points. The Dow Jones rose 0.65% to 48,364.13 points, and the S&P500 rose 0.22% to 6,860.42 points.

Morgan Stanley said Tesla's (Tesla) recent quarterly results were within the market's expected range and diagnosed that the key variables for future stock direction will be robotaxi and advances in full self-driving (FSD) technology. According to economic breaking news channel Walter Bloomberg on the 2nd (local time), Morgan Stanley maintained its investment rating for Tesla at 'Equalweight' and its price target of $425 in a recent report. Tesla delivered 418,000 vehicles in the fourth quarter of 2025, slightly below market consensus but above buy-side expectations. Unlike vehicle deliveries, the energy business showed clear growth. Fourth-quarter energy storage deployments were recorded at 14.2 gigawatt-hours (GWh), a quarterly record that exceeded market expectations. Morgan Stanley maintained its 2026 outlook for Tesla at vehicle deliveries of 1.6 million and energy storage deployments of 64 GWh. It said this suggests that even if electric vehicle sales growth moderates, the energy business can help supplement results. However, it identified robotaxi and progress in unsupervised full self-driving (FSD) technology as the most important catalysts for the medium- to long-term stock price. Morgan Stanley analyzed that whether there is substantive progress in these technologies in the first half of 2026 will determine long-term sales growth and a revaluation of the company's value. Morgan Stanley added, "Tesla's core investment thesis is now not simply electric vehicle sales but the expansion of autonomous driving and platform businesses," and said visible achievements related to robotaxi will become the market's evaluation standard going forward.

The global virtual asset (cryptocurrency) regulatory environment is entering a full-scale transition phase ahead of 2026. Major financial hubs such as the United States, the United Kingdom, and Hong Kong are undertaking regulatory overhauls, which is expected to bring structural changes across the industry. On the 2nd (local time), Cointelegraph, a media outlet specializing in virtual assets, reported that the United States is rapidly establishing a regulatory environment that allows banks to participate in virtual assets. The Federal Deposit Insurance Corporation (FDIC) released a draft regulatory framework at the end of last year that would permit the issuance of dollar-pegged stablecoins. Under the draft, banks supervised by the FDIC would be able to issue stablecoins through subsidiaries and would be subject to financial soundness reviews covering capital adequacy, liquidity, and risk management. The Federal Reserve (Fed) has also withdrawn existing guidance that limited banks' virtual asset activities, which could enable banks to provide custodial, settlement, and other virtual asset services. In the U.S. Congress, a market-structure bill (CLARITY Act) that would overhaul the regulatory framework for the virtual asset industry as a whole is also close to passage. The bill aims to clearly divide jurisdiction between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) and to exempt certain virtual assets that meet specific conditions from securities registration requirements. The United Kingdom is also accelerating regulatory preparations. The Financial Conduct Authority (FCA) has announced a final virtual asset regulatory proposal and plans to fully introduce anti-money laundering (AML), know-your-customer (KYC), consumer protection, and licensing regimes. This will allow virtual asset businesses to operate under a regulatory framework similar to that of traditional finance. In Asia, Hong Kong is pursuing stablecoin regulation. Hong Kong authorities are preparing a framework that includes issuer licensing, reserve asset requirements, and user protection rules, aiming for implementation this year. Market participants view this global wave of regulatory reform as a catalyst that will accelerate the integration of the virtual asset industry into the institutional framework.

The three major U.S. stock indices are trading mixed. The Nasdaq Composite was trading at 23,472 points, up 0.99% from the previous close as of 00:13 on the 3rd. The Dow Jones was down 0.37% at 47,884.27 points, and the S&P 500 was up 0.41% at 6,867.50 points.

Spot gold and silver prices are recording historic gains in 2025, drawing attention in the commodities market. On the 31st (local time), according to economic news channel Walter Bloomberg, spot gold prices have risen about 64% year-to-date and are expected to record the best annual return since 1979. During the same period, spot silver prices surged about 147%, marking the highest annual increase since related statistics were compiled. The surge in gold prices is attributed to geopolitical uncertainties and expectations of monetary policy shifts fueling demand for safe-haven assets, even amid a global slowdown in inflation. Continued central bank gold purchases also supported the price increase. Rising industrial demand drove the increase in silver prices. Analysts say demand has rapidly outpaced supply as silver usage has surged in solar power, electric vehicles, and artificial intelligence (AI) infrastructure. Market participants note the significance of gold and silver simultaneously achieving record annual performances. Silver is generally considered more volatile than gold and tends to show relatively higher gains as expectations for economic recovery rise. Experts see a high likelihood that volatility in the metals market will continue into 2026. However, some caution that whether the sharp rally seen this year will persist depends on global monetary policy and economic trends.

A U.S. court dismissed a class action lawsuit that alleged promotion of crypto lending firm Voyager Digital caused investor losses. On the 31st (local time), according to crypto-focused media Cointelegraph, a U.S. federal court fully dismissed the class action filed against pro-crypto billionaire Mark Cuban and NBA team the Dallas Mavericks. The lawsuit alleged that Cuban and the Mavericks caused investor losses while promoting Voyager Digital and that they violated state securities laws and consumer fraud prevention laws. Cuban's legal team said, "The plaintiffs' claims of violations of state securities law and consumer protection law were not accepted by the court," and "the court dismissed the lawsuit in its entirety." With this ruling, the controversy over legal responsibility brought against celebrities and sports teams in connection with Voyager Digital's bankruptcy appears to be coming to a close.

U.S. virtual assets (cryptocurrencies) lobbying groups are expanding their influence in the run-up to the 2026 midterm elections. This is seen as a prelude to maintaining and strengthening a pro-virtual asset legislative environment. On the 31st (local time), crypto-focused media Cointelegraph reported that major virtual asset lobbying organizations in the United States are ramping up lobbying efforts and media ad campaigns to prepare for the midterm election phase. The nonprofit lobbying group Stand With Crypto, backed by Coinbase, has expanded its campaigns targeting Congress and voters, and as a result, many newly elected members of the 119th United States Congress have reportedly already indicated they will support pro-cryptocurrency bills and policies. Fairshake, a leading Super PAC in the virtual asset industry, has also continued its activities. Following a prominent role in the 2024 presidential election, Fairshake spent about $2.5 million in the 2025 special elections to continue supporting pro-cryptocurrency candidates. In the U.S. midterm elections to be held in November 2026, all 435 House seats and 33 Senate seats will be up for election. The outcome of this election is considered a variable that could significantly affect future virtual asset regulation and the legislative environment. The outlet noted that if the Democratic Party secures majority status in either chamber in the midterms, coupled with the possibility of President Donald Trump's veto, the advancement of virtual asset-related bills could be constrained. Accordingly, the virtual asset industry is analyzed to be strengthening its strategic moves to build political foundations even before the election.

The U.S. Senate has finalized the schedule for an official review of the market structure bill (the CLARITY Act). On the 31st (local time), Eleanor Terrett, host of Crypto in America, reported that the U.S. Senate will conduct a review of the market structure bill on January 15 (local time). The bill was initially pursued under Republican leadership with the aim of passing it last year, but the schedule was delayed and it was carried over into this year. Afterwards, David Sacks, the White House official for AI and virtual assets (cryptocurrencies), officially confirmed that the Senate is set to begin reviewing the bill in January this year. The market structure bill aims to reorganize the regulatory framework for the virtual asset industry as a whole. Its core provisions separate the supervisory authority of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) and exempt certain virtual assets that meet specific criteria from registration requirements under the Securities Act of 1933. With the Senate review moving forward, discussions on the direction of virtual asset regulation in the U.S. and the division of roles among agencies are expected to accelerate.

On the 31st (local time), economic news channel Walter Bloomberg reported that, due to the year-end holidays, the U.S. initial unemployment claims indicator is showing significant distortions in the seasonal adjustment process. According to Citigroup economists that day, during this year's year-end holiday period the seasonal adjustment volatility of unemployment claims has expanded much more than usual and is not accurately reflecting labor market trends. Based on the Christmas week, U.S. initial unemployment claims were 199,000, down from 215,000 the previous week. This is well below the market expectation of 220,000. Citigroup explained, "Because of seasonal adjustment distortions caused by the year-end holidays, it is difficult to judge the state of the labor market based solely on the current unemployment claims indicator," and added, "a more reliable picture will emerge only after mid-January." It added, however, that the fact that the number of unemployment claims remains at a low level suggests that large-scale layoffs are not occurring. Meanwhile, Citigroup forecast that nonfarm payrolls will increase by 75,000 in the December employment report due next week. It expected the unemployment rate to rise slightly to 4.7% due to an increase in labor force participation.

According to economic news channel Walter Bloomberg on the 30th (local time), it appeared that within the U.S. Federal Reserve (Fed) there were opinions that it would be appropriate to keep interest rates on hold for a certain period after a December rate cut. According to the Federal Open Market Committee (FOMC) minutes released that day, some members mentioned that, based on their economic outlooks, "it is likely appropriate to maintain the policy rate for some time after the December rate cut." The minutes show a shared recognition that while the slowdown in inflation continues, inflation still exceeds target levels and labor market conditions should be considered together. Accordingly, it is interpreted that there were opinions that the effects of policy need to be assessed before further cuts. Fed officials also emphasized that they should avoid making advance commitments about the path of interest rates. This reaffirmed their existing position that future policy decisions will be adjusted flexibly in response to economic data flows. The market is interpreting the minutes as a signal that the Fed is more likely to maintain a wait-and-see stance rather than pursue consecutive rate cuts in the short term.

The three major U.S. stock market indices closed lower. The Nasdaq Composite index recorded 23,419.08 points, down 0.24% from the previous day on the 31st. The Dow Jones index closed at 48,367.06 points, down 0.20%, and the S&P 500 index closed at 6,896.45 points, down 0.13%.