Next week, China will release the December CPI and PPI, while the US December non-farm payroll report will also be unveiled. Meanwhile, South Korean President Lee Jae-myung will make his first visit to China, and Venezuelan President Nicolás Maduro may appear in court in the United States. The annual weight rebalancing of the Bloomberg Commodity Index could lead to significant volatility in gold and silver.
In terms of technology, the CES exhibition is being held in Las Vegas, where industry leaders such as Jensen Huang and Lisa Su will deliver speeches. Several technology companies, including Zhipu, MiniMax, Jingfeng Medical, TianShu ZhiXin, and GigaDevice, are preparing for their Initial Public Offerings (IPOs). Zhipu and MiniMax are expected to begin trading soon.
Overview of Key Events
The World's Largest Tech Event CES 2026 Kicks Off Next Week: Jensen Huang and Lisa Su to Appear on the Same Day
The market is set to kick off the year with the grand showcase of CES 2026, the consumer electronics exhibition held in Las Vegas, United States. According to publicly available information, several companies will unveil new products at this year's CES, including home robots, AI glasses, and wearable devices, all of which have garnered significant attention from the capital markets. Additionally, how manufacturers address the rising tide of memory prices in laptops and PCs will be a hot topic of discussion this week.
From Tuesday midnight to the morning slot in Beijing time,$NVIDIA (NVDA.US)$CEO Jensen Huang,$Advanced Micro Devices (AMD.US)$NVIDIA CEO Jensen Huang and Advanced Micro Devices' leader Lisa Su will deliver keynote speeches early Tuesday morning Beijing time. Dan Ives-led Wedbush Securities team anticipates that 'Jensen Huang’s speech will heavily focus on data centers, physical AI, and robotics. Looking ahead to 2026, Huang will emphasize the latest developments of the Cosmos foundational model platform in accelerating AI system development, extending into discussions on autonomous technologies such as self-driving.' Additionally, analysts expect Lisa Su to highlight AMD's latest advancements in Ryzen processors and Radeon graphics cards for AI PCs and gaming. She may also elaborate on AMD’s EPYC server processors and Instinct series GPUs.
At the same time, it is related to$Intel (INTC.US)$Details of the first '18A' chip, crucial to TSMC’s foundry business, are expected to emerge at that time.$Alibaba (BABA.US)$ / $BABA-W (09988.HK)$ 、 $LENOVO GROUP (00992.HK)$ , along with Samsung Electronics, LG, and other Asian tech powerhouses, will make a prominent appearance.
Detailed investment opportunities at a glance:The largest global technology event, CES 2026, is about to begin! Jensen Huang and Lisa Su will appear on the same day—these investment opportunities are worth paying attention to in advance!
The situation in Venezuela is drawing significant attention, as Maduro is expected to appear in the U.S. District Court in New York on the 5th.
According to CCTV News, Venezuelan President Maduro may appear in the U.S. District Court in Manhattan, New York, as early as the 5th. However, this schedule remains subject to change. Analysts believe that the escalation of the Venezuelan situation could further enhance the safe-haven appeal of precious metals, with the oil market likely to bear the brunt of the impact. Venezuela holds the world’s largest proven crude oil reserves (over 300 billion barrels, accounting for 20% of the global total), and its heavy crude has long supplied refineries in the U.S. Gulf Coast. Due to U.S. sanctions, Venezuela's crude oil production has dropped from a peak of 3 million barrels per day to about 900,000 barrels currently. Therefore, an escalation in the situation could push oil prices higher in the short term (due to supply disruption risks), but if a regime change leads to the lifting of sanctions, it could result in a sharp drop in oil prices in the medium to long term (as restored production would increase global supply).
Rebalancing of commodity benchmark indices imminent; gold and silver prices may experience significant volatility.
Traders are closely assessing an upcoming adjustment to the weightings of a major commodity benchmark index starting next week, which could impact the short-term prices of gold and silver. Given the substantial gains in precious metals, passively tracked funds may sell some contracts to align with the new weightings.
Silver futures currently account for 9% of the weighting in the Bloomberg Commodity Index (BCOM, a widely tracked basket of global commodity benchmarks), while the target weighting for 2026 is just under 4%. This means that during the five-day roll window starting Thursday (January 8), the market will be forced to sell over $5 billion worth of silver-related positions; during the same period, the scale of gold futures sales is expected to be around $6 billion.
Daniel Ghali, Senior Commodities Strategist at TD Securities, predicts: “Up to 13% of the total open interest in the COMEX silver market could be sold off over the next two weeks, leading to a significant downward revaluation of silver prices.” He also noted that insufficient liquidity after the holidays could amplify price volatility.
China’s December CPI and PPI data will be released next Friday.
On Friday, January 9, China will release its CPI and PPI data for December. Zheshang Securities forecasts that the year-on-year growth rate of CPI in December will remain at 0.7%, unchanged from the previous month, with a potential shift to zero on a month-on-month basis from negative territory; the year-on-year decline in PPI is expected to narrow to -1.9%, compared to the prior value of -2.2%. The downward trend in pork and oil prices continued this month, while core CPI may continue to show signs of recovery. In terms of industry, inventory cycles are unlikely to provide effective price support, and the clearing of excess capacity in midstream manufacturing sectors may take a long time.
The United States will release multiple macroeconomic data, with the December non-farm payroll report drawing significant attention.
Next week, a series of US economic data is set to trigger market volatility, with the most anticipated being the December non-farm payroll report, the first normal monthly data collected since the record government shutdown ended last year. The current market expectation is for an increase of approximately 55,000 jobs, with an unemployment rate of 4.5%. Another key focus will be whether there will be any significant revisions to November’s figures. Due to the lower participation rate in the survey for that month, the likelihood of substantial revisions has increased. As a result, markets may place greater emphasis on the revision of November's data rather than December’s overall figures unless the latter turn out to be unexpectedly surprising.
In addition, ISM Manufacturing and Non-Manufacturing PMI, December ADP employment data, and JOLTS job openings data will also be released. Investors will evaluate the health of the US economy and the possible timing of the Federal Reserve’s next interest rate cut.
The announcement of the Federal Reserve’s 'shadow chair' is imminent, presenting Powell with a difficult decision.
The new year will present challenges for the Federal Reserve, as already divided policymakers navigate through mixed economic signals. Meanwhile, Trump has announced plans to reveal his nominee for the next Federal Reserve Chair in early 2026, which could add more noise to the Fed’s policy direction.
Another critical issue is: Powell’s term as Chair will end in May, and whether he will continue serving on the Federal Reserve thereafter remains uncertain. His term as a governor extends for another two years, but his repeated refusal to address this question has sparked widespread speculation. Analysts believe that if Powell steps down, Trump will immediately gain majority control over the Board of Governors. If these members form a voting bloc (a hypothetical scenario), it would significantly aid Trump in achieving his goal of ultra-low interest rates. If Powell stays on as a governor, this move could aim to reinforce the Federal Reserve’s independence, though it might easily be perceived as politically motivated.
Zhipu, MiniMax, and TianShu ZhiXin, among others, will officially go public.
Several high-profile new stocks will debut on the Hong Kong stock market next week. Known as the 'first large model stock,' $KNOWLEDGE ATLAS (02513.HK)$ The Hong Kong IPO is priced at HKD 116.2 per share, with an offering of over 37 million shares. The issue price is HKD 116.20 per share. The allotment results are expected to be announced on January 6, grey market trading on January 7, and the official listing on January 8.
$MINIMAX-WP (00100.HK)$ An application has been made for a Hong Kong IPO to issue 25.4 million shares, with a price range of HKD 151-165 per share. According to Bloomberg calculations, the company will raise up to HKD 4.19 billion. The allotment results are expected to be announced on January 7, grey market trading on January 8, and the official listing on January 9.
Domestic GPU Manufacturer$ILUVATAR COREX (09903.HK)$ The company seeks to raise HKD 3.68 billion through its Hong Kong IPO by issuing 25.4 million shares at HKD 144.60 per share. The allotment results will be announced on January 6, grey market trading will commence on January 7, and the official listing is scheduled for January 8.
Surgical Robot Manufacturer $EDGE MEDICAL-B (02675.HK)$ The company seeks to raise HKD 1.2 billion through its Hong Kong IPO by issuing 22.7 million shares at HKD 43.24 per share. The allotment results are expected to be announced on January 6, grey market trading on January 7, and the official listing on January 8.
$GIGADEVICE (03986.HK)$ An application has been made for a Hong Kong IPO to issue 28.9 million shares, with the top end of the indicative price range set at HKD 162 per share. The allotment results are expected to be announced on January 9, grey market trading on January 12, and the official listing on January 13.
South Korean President Lee Jae-myung's first visit to China from January 4 to 7
According to Huanqiu.com, South Korean President Lee Jae-myung will pay a state visit to China from January 4 to 7. Yonhap News Agency reported on the 30th that this will be Lee Jae-myung’s first visit to China since assuming the presidency. Citing business sources, Yonhap News Agency noted that a delegation of over 200 South Korean entrepreneurs, including Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Choi Tae-won, Hyundai Motor Group Chairman Chung Eui-sun, and LG Group Chairman Koo Kwang-mo, will accompany Lee Jae-myung on the visit.
Monday (January 5)
Keywords: China December RatingDog Services PMI, U.S. December ISM Manufacturing PMI
In terms of economic data, attention can be paid to China's December RatingDog Services PMI and the U.S. December ISM Manufacturing PMI.
09:45 China December RatingDog Services PMI
15:30 Switzerland November Actual Retail Sales Year-on-Year
17:30 Eurozone January Sentix Investor Confidence Index, UK November Central Bank Mortgage Approvals (in ten thousand units)
23:00 U.S. December ISM Manufacturing PMI
In terms of financial events, the President of South Korea will make his first state visit to China since taking office, and Federal Reserve official Kashkari will deliver a speech.
01:30 Kashkari, 2026 FOMC voter and President of the Minneapolis Federal Reserve, to speak at the American Economic Association
To be confirmed: South Korean President Lee Jae-myung will pay a state visit to China from January 4 to 7.
Tuesday (January 6th)
Keywords: Jensen Huang, Lisa Su to appear at CES conference, Barkin to deliver a speech
In terms of economic data, the Eurozone will release PMI and other data, while in the United States, attention can be paid to the final reading of S&P Global Services PMI for December.
15:45 Preliminary CPI month-on-month rate for France in December
16:50 Final Services PMI for France in December
16:55 Final Services PMI for Germany in December
17:00 Final Services PMI for the Eurozone in December
17:30 Final Services PMI for the UK in December
21:00 Preliminary CPI month-on-month rate for Germany in December
22:45 Final S&P Global Services PMI for the US in December
In terms of financial events, Jensen Huang and Lisa Su will deliver speeches at the CES conference, and Intel will hold a press conference.
21:00 Barkin, FOMC voter for 2027 and President of the Richmond Fed, will deliver a speech.
A new round of price adjustment window for refined oil products in China is yet to be determined.
The 2026 Consumer Electronics Show (CES), known as the 'Tech Spring Festival Gala,' will be held in Las Vegas, with the date yet to be determined.
Wednesday (January 7th)
Keywords: US December ADP Employment Numbers, US December ISM Non-Manufacturing PMI, Zhipu and Tianshu Zhixin's pre-market trading
In terms of economic data, attention can be paid to the US December ADP Employment Numbers, ISM Non-Manufacturing PMI, and November JOLTs job openings.
05:30 US API crude oil inventory for the week ending January 2nd (in million barrels)
08:30 Australia November unadjusted CPI annual rate
16:55 Germany December seasonally adjusted unemployment numbers (in millions), Germany December seasonally adjusted unemployment rate
18:00 Eurozone December preliminary CPI annual rate, Eurozone December preliminary CPI monthly rate
21:15 US December ADP Employment Numbers (in millions)
23:00 US December ISM Non-Manufacturing PMI, US November JOLTs Job Openings (in ten thousand), US December Global Supply Chain Pressure Index, US October Factory Orders Month-over-Month Rate
23:30 US EIA Crude Oil Inventory for the week ending January 2 (in ten thousand barrels), US EIA Cushing, Oklahoma Crude Oil Inventory for the week ending January 2 (in ten thousand barrels), US EIA Strategic Petroleum Reserve Inventory for the week ending January 2 (in ten thousand barrels)
To be determined China December Foreign Exchange Reserves (in billion USD)
In terms of new stock offerings, $KNOWLEDGE ATLAS (02513.HK)$ 、 $ILUVATAR COREX (09903.HK)$ 、 $EDGE MEDICAL-B (02675.HK)$ Will conduct grey market trading.
Thursday (January 8)
Keywords: US December Challenger Business Layoffs, Zhipu and TianShuZhiXin officially listed, MiniMax grey market
In terms of economic data, the US will release the December Challenger Business Layoffs and Initial Jobless Claims for the week ending January 3.
15:00 UK December Halifax Seasonally Adjusted House Price Index Month-over-Month Rate
15:30 Switzerland December CPI Month-over-Month Rate
15:45 France November Trade Balance (in billion EUR)
18:00 Eurozone November PPI month-over-month rate, Eurozone November unemployment rate, Eurozone December industrial sentiment index, Eurozone December economic sentiment index
20:30 US December Challenger job cuts (in ten thousands)
21:30 US initial jobless claims for the week ending January 3 (in ten thousands), US October trade balance (in billion USD)
23:00 US October wholesale sales month-over-month rate
23:30 US EIA natural gas inventory for the week ending January 2 (in billion cubic feet)
In terms of new stock offerings, $KNOWLEDGE ATLAS (02513.HK)$ 、 $ILUVATAR COREX (09903.HK)$ 、 $EDGE MEDICAL-B (02675.HK)$ will officially go public, $MINIMAX-WP (00100.HK)$ Will conduct grey market trading.
Friday (January 9)
Keywords: China December CPI and PPI, US December non-farm payroll report, MiniMax official launch
In terms of economic data, China will release December CPI and PPI figures, while the US will publish its December non-farm payroll report.
00:00 New York Fed's 1-year inflation expectation for December in the United States
09:30 China's December CPI year-on-year, China's December PPI year-on-year
15:00 Germany's seasonally adjusted industrial production month-on-month for November, Germany's seasonally adjusted trade balance (in billion euros) for November
15:45 France's industrial production month-on-month for November
16:00 Switzerland's seasonally adjusted unemployment rate for December
18:00 Eurozone's retail sales month-on-month for November
21:30 United States' unemployment rate for December, United States' seasonally adjusted non-farm payrolls (in ten thousand people) for December, United States' average hourly earnings year-on-year for December, United States' average hourly earnings month-on-month for December, United States' annualized total new housing starts for October (in ten thousand units), United States' total building permits for October (in ten thousand units)
23:00 United States' preliminary one-year inflation expectation for January, United States' preliminary University of Michigan consumer sentiment index for January
In terms of financial events, Federal Reserve official Kashkari will make public remarks.
23:00 Kashkari, Minneapolis Fed President and 2026 FOMC voter, will deliver welcoming remarks and participate in informal discussions at an online event hosted by the bank.
In terms of new stock offerings, $MINIMAX-WP (00100.HK)$will be officially listed, $GIGADEVICE (03986.HK)$the lottery results will be announced.
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Wishing all fellow investors a successful new week ahead!
Editor/KOKO