Friday’s market action was shaped by a mix of tech optimism, rising geopolitical frictions, and robust economic data, while the crypto sector saw strategic recalibrations by major players.
Intel Surges on Apple Supply Hopes
Intel led the stock market rally, soaring more than 10% to close around $40.62, marking its biggest gain in months. Investor excitement followed remarks from analyst Ming-Chi Kuo, suggesting that Intel is increasingly likely to secure Apple’s contract for entry-level M-series chips starting in mid-2027.
If Intel wins the deal, it would produce chips for devices like the MacBook Air and iPad Pro, totaling an estimated 15–20 million units annually. The move would significantly boost Intel Foundry Services’ credibility as the company continues its turnaround, while allowing Apple to diversify its supply chain in line with “Made in USA” initiatives.
China Presses the UK on Taiwan
In diplomatic developments, China’s Foreign Minister Wang Yi met with the UK’s National Security Adviser Jonathan Powell in Beijing, urging the UK to uphold the “one-China” principle.
The discussion came amid heightened tensions in the region, including a diplomatic spat between China and Japan over Taiwan. Wang emphasized the importance of continued “strategic dialogue” and international coordination, while also touching on the situation in Ukraine. Analysts view China’s outreach as an effort to consolidate international support for its stance on Taiwan.
India Posts Strongest Growth in 18 Months
India’s economy delivered another robust growth print in Q2 FY26 (July–September), with GDP expanding 8.2%—beating forecasts from the Reserve Bank of India (7%) and economists’ estimates (7.3%).
Manufacturing led the charge, growing 9.1% versus just 2.2% a year ago, while financial services surged 10.2%, fueled by festive-season stock-ups and recent GST cuts. Private consumption rose 7.9%, though government spending eased slightly.
Prime Minister Narendra Modi hailed the figures as evidence that pro-growth reforms are paying off. With half-year growth averaging 8%, India remains the fastest-growing major economy globally.
CoinShares Resets US Crypto Strategy
In the digital-asset sector, CoinShares announced the closure of several US crypto ETFs, including its Bitcoin Futures Leveraged (BTFX) fund, as part of a strategic realignment.
The firm plans to shift focus from single-asset offerings toward higher-margin products such as crypto-related equities and diversified funds. The affected ETFs, including those under CoinShares Valkyrie, are expected to be liquidated around December 16. This move represents a broader strategic reset as CoinShares prepares for a stronger push into the competitive US crypto market, even as Bitcoin ETFs face ongoing outflows.