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Data time to look at some of the stocks on the move today, and we're joined by Bloomberg's Valerie Titel once again val data centers. That's all the rage, and that seems to be the basis for some deal news that we're getting this morning.
Yeah, data centers and the AI trade are going to continue to be the big focus headed in to your end and next year. But the news of the day is that the Japanese conglomerate SoftBank has been said to near a deal for the investment firm Digital Bridge. So we're watching shares of digital Bridge surge around thirty two percent higher in pre market. It's a private equity firm that invests in assets such as data centers and digital infrastructure.
A deal between these two could be nounced as soon as today and would deepen soft banks push into assets underpinning the AI race. The Japanese investment giant soft Bank has been a big part of the AI funding craze this year. It was key to that five hundred billion stargate Gate project, and they've recently sold off their share of Nvidia to invest in other assets to help open Ai,
to help this data center rates. And perhaps if we do hear a deal today, it was part of their shift and selling those Nvidia shares in order to invest in something else.
Now we don't know the terms of the deals, are prices or anything like that at this point. Silver miners, I always think of Nevada's still out there.
Idaho is a big area for silver, but silver miners are on a back foot after the air I guess is starting to come out of this silver rally. So we have the likes of Core Mining down nearly five percent, HELCA Mining down four percent, First Majestic silver ticker AG funny for those who know the periodic table is down four percent as well. There you know, the silver's rally has really been led by this tightness of inventories, and a lot of these silver miners have benefited from the
run up of the price of silver in December. But it does seem to be like the rally might be ending for some of these silver miners headed into your end.
Would you tell me earlier silver was in backwardation the usual path is conentango. Usual path for a lot totally geeked out on you guys.
A lot of commodities is contango because you have to pay essentially for storage costs. But we're seeing silver curves at very stretched backwardation levels. The London silver curve is the steepest backwardation we've seen in decades. So people paying up to get silver in their hands today versus waiting a few months from now.
The Santa Claus rally. What happened with the Mag seven.
Well, the Mag seven is not feeling part of the optimism around the Santa Claus rally. This morning. Tesla losses for the Max seven this morning down one and a half percent. We're also seeing the likes of Oracle down nearly two percent, Core Weave down two and a half. Those names are pretty key to the cloud race. But I don't know if you knew, John, but I was looking up the technical term for the Santa rally is the five last trading days of the year and the
two beginning in January. So four out of five times you get a rally of over one percent over that timeframe. So we still have some room, I guess to make up, but today seems to be leading tech on a ser note.
Okay, real, real quick. European defense stocks, this is kind of a perverse move, you know, when there's signs of piece the defense stocks go down.
Yeah, but it should be noted because they are one of the biggest losers in the eurostock six hundred this morning. Ryan Mattal down two and a third percent. Now a lot of these names are now down over twenty percent since they're highs back in September earlier this year. So the European defense trade air continues to come out of that as well. Headed into your.
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