The tech gala is here! Can CES 2026 ignite a tech rally?

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Weekly Outlook | The "Tech Gala" CES Conference Kicks Off! Jensen Huang and Lisa Su to Make Keynote Appearances; US December Nonfarm Payroll Report, China December CPI, and PPI Released on the Same Day; Zhipu, MiniMax, and Tianshu Zhixin to Officially List on the Hong Kong Stock Exchange

Next week, China will release its December CPI and PPI data, 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 for gold and silver.

On the technology front, the CES exhibition is taking place in Las Vegas, where industry leaders such as Jensen Huang and Lisa Su will deliver speeches. Several tech companies, including Zhipu, MiniMax, Jingfeng Medical, TianShu SmartChip, and GigaDevice, are preparing for their IPOs, with Zhipu and MiniMax set to begin trading soon.

Overview of Key Schedules

– The world's largest technology event, CES 2026, is set to kick off next week, featuring appearances by Jensen Huang and Lisa Su on the same day.

The market is about to witness the year's opening showcase, the Consumer Electronics Show (CES) 2026, held in Las Vegas, USA. According to public information, this year’s CES will feature several companies unveiling new products such as home robots, AI glasses, and wearable devices that have garnered significant attention from the capital markets. Discussions around how manufacturers are addressing the surge in memory prices for laptops and PCs will also be a hot topic this week.

From late Monday night to early Tuesday morning Beijing time, $NVIDIA (NVDA.US)$CEO Jensen Huang,$Advanced Micro Devices (AMD.US)$CEO Jensen Huang and leader Lisa Su will deliver keynote speeches. In this regard, Dan Ives-led Wedbush Securities team predicted: "Jensen Huang will focus heavily on data centers, physical AI, and robotics in his keynote speech.. Looking ahead to 2026, Huang will also emphasize the latest advancements in the Cosmos foundational model platform for accelerating AI system development, transitioning into discussions on autonomous technologies such as self-driving vehicles." Additionally, analysts expect that Lisa Su will highlight the latest developments of AMD’s Ryzen processors and Radeon graphics cards in AI PCs and gaming. She may also elaborate further on AMD’s EPYC server processors and Instinct series GPUs.

At the same time, it concerns$Intel (INTC.US)$ Details of the first "18A" chip, which will determine the fate of the OEM business, will also come to light at that time.$Alibaba (BABA.US)$ / $BABA-W (09988.HK)$ 、 $LENOVO GROUP (00992.HK)$ Asian tech giants such as Samsung Electronics and LG will make a concentrated appearance.

Detailed investment opportunities overview:The world's largest technology event, CES 2026, is about to kick off! Jensen Huang and Lisa Su to appear on the same day; these investment opportunities are worth watching in advance!

– Venezuela's situation has drawn significant attention, with Maduro potentially appearing in the U.S. District Court for the Southern District of New York on the 5th.

According to CCTV News, Venezuelan President Maduro may appear in federal court in Manhattan, New York, as early as the 5th. However, this schedule remains subject to change. Analysts believe that an escalation in Venezuela’s situation could further enhance the safe-haven appeal of precious metals, while the oil market would face the most direct impact. Venezuela holds the world's largest proven crude oil reserves (over 300 billion barrels, accounting for 20% of the global total), with its heavy crude oil having long supplied refineries in the U.S. Gulf Coast. Due to U.S. sanctions, Venezuela’s crude oil production has fallen from a peak of 3 million barrels per day to about 900,000 barrels per day currently. Therefore, an escalation in the situation may temporarily push up oil prices (due to supply disruption risks). However, if a regime change leads to the lifting of sanctions, it could cause oil prices to plummet in the medium to long term (as restored capacity would increase global supply).

– Rebalancing of commodity benchmark indices imminent; gold and silver prices may experience significant volatility.

Traders are closely evaluating an upcoming weight adjustment for a major commodity benchmark index starting next week, which could impact the short-term prices of gold and silver. Given the substantial gains precious metals have experienced previously, passively tracked funds might sell some contracts to align with the new weighting configuration.

Silver futures currently account for 9% of the weighting in the Bloomberg Commodity Index (BCOM, a widely tracked basket of commodities globally), whereas the target weight for 2026 is just under 4%. This means that within the five-day roll period starting Thursday (January 8th),the market will be forced to sell silver-related positions worth over $5 billion; during the same period, the scale of gold futures sales is expected to reach approximately $6 billion.

Daniel Ghali, Senior Commodity Strategist at TD Securities, forecasts that "up to 13% of the total open interest in the COMEX silver market will be liquidated over the next two weeks, leading to a significant downward revaluation of silver prices." He also pointed out thatInsufficient liquidity after the holiday may amplify price volatility.

– China's December CPI and PPI data will be released next Friday.

On Friday, January 9, China will announce the December CPI and PPI data. Zhejiang Securities expects that the year-on-year growth rate of CPI in December will remain at 0.7%, unchanged from the previous month, with a possible shift from negative to flat month-on-month. The year-on-year decline in PPI may narrow to -1.9%, compared to the previous value of -2.2%. Pork and oil prices continued their downward trend this month, but core CPI may continue to recover. In terms of industry, inventory cycles are unlikely to provide effective price support, and capacity clearance in midstream manufacturing may take a long time.

– Multiple macroeconomic data from the United States will be released, with the December non-farm payroll report drawing particular attention.

Next week, a series of U.S. economic data is set to trigger market fluctuations, with the most anticipated being the December non-farm payroll report, which represents the first normal month of data collected since the end of the record-breaking U.S. government shutdown last year.The current market expectation is for approximately 55,000 new jobs added, with an unemployment rate of 4.5%.Another key focus will bewhether there will be significant revisions to the November data.Due to the lower participation rate in that month’s survey, the likelihood of substantial revisions to the data has increased. As a result, unless the December figures are surprising, the market may place greater emphasis on revisions to the November data rather than the overall December figures themselves.

Additionally, other releases will include ISM manufacturing and non-manufacturing PMI, December ADP employment data, and JOLTS job openings data. Investors will assess the health of the U.S. 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 be full of challenges for the Federal Reserve, as already divided policymakers face tough choices amidst mixed economic signals, andTrump has announced plans to reveal his selection for the next Federal Reserve Chair in early 2026.This 'shadow chair' may inject further noise into the Federal Reserve’s policy direction.

Another key question is:Powell’s term as chairman ends in May; will he continue to serve at the Federal Reserve at that time?His term as a governor has two years remaining, and his repeated refusal to respond to this issue has sparked widespread speculation. Analysts believe that if Powell steps down, Trump will immediately gain majority control of the board. If these members form a voting bloc (a hypothetical scenario), it would largely assist Trump in achieving his goal of ultra-low interest rates. If Powell remains as a governor, the move could aim to consolidate the Fed’s independence but risks being perceived as politicized.

– Shares of several companies, including Zhipu, MiniMax, and Tianshu Zhixin, will officially list.

Several major new stocks are set to debut on the Hong Kong stock market next week. Known as the 'first large model stock,' $KNOWLEDGE ATLAS (02513.HK)$ Its Hong Kong IPO is priced at HKD 116.2, with an offering of over 37 million shares at HKD 116.20 per share. The allotment results are expected to be announced on January 6, followed by gray market trading on January 7, and official listing on January 8.

$MINIMAX-W (00100.HK)$ The company has applied for a Hong Kong IPO to issue 25.4 million shares, with a price guidance range of HKD 151-165 per share. According to Bloomberg calculations, the company is expected to raise up to HKD 4.19 billion. The allotment results are anticipated to be released on January 7, with gray market trading on January 8 and official listing on January 9.

Domestic GPU manufacturers$ILUVATAR COREX (09903.HK)$ Seeking to raise HKD 3.68 billion through a Hong Kong IPO by issuing 25.4 million shares at HKD 144.60 per share, with the allotment results to be announced on January 6, gray market trading on January 7, and official listing on January 8.

Surgical robot manufacturer $EDGE MEDICAL-B (02675.HK)$ Seeking to raise HKD 1.2 billion through a Hong Kong IPO by issuing 22.7 million shares at HKD 43.24 per share, with the allotment results expected to be announced on January 6, gray market trading on January 7, and official listing on January 8.

$GIGADEVICE (03986.HK)$ Applied for a Hong Kong IPO, seeking to issue 28.9 million shares with a top price guidance of HKD 162 per share, with the allotment results expected to be announced on January 9, gray market trading on January 12, and 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. Yonhap cited business community sources stating that more than 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 form an economic delegation accompanying Lee Jae-myung on his visit to China.

Monday (January 5)

Keywords: China December RatingDog Services PMI, U.S. December ISM Manufacturing PMI

In terms of economic data,Attention may 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 US December ISM Manufacturing PMI

In terms of financial events,The President of South Korea will make his first visit to China since assuming office, and Federal Reserve official Kashkari will deliver a speech.

01:30 2026 FOMC voter and Minneapolis Fed President Kashkari will speak at the American Economic Association meeting

To be determined: South Korean President Lee Jae-myung will pay a state visit to China from January 4 to 7

Tuesday (January 6)

Keywords: Jensen Huang, Su Zifeng to appear at CES conference, Barkin to deliver a speech

In terms of economic data,The Eurozone will release PMI data, while in the US, attention can be paid to the final value of the S&P Global Services PMI for December.

15:45 France December Preliminary CPI Month-on-Month

16:50 France December Services PMI Final

16:55 Germany December Services PMI Final

17:00 Eurozone December Services PMI Final

17:30 UK December Services PMI Final

21:00 Germany December CPI Month-over-Month Preliminary

22:45 US December S&P Global Services PMI Final

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 Richmond Fed President and 2027 FOMC voter Barkin to deliver a speech

To be determined: A new round of domestic refined oil price adjustment window will open

To be determined: The 2026 Consumer Electronics Show (CES), known as the 'Tech Spring Festival Gala,' will be held in Las Vegas

Wednesday (January 7)

Key terms: US December ADP employment figures, US December ISM non-manufacturing PMI, Zhipu and TianShu ZhiXin's grey market

In terms of economic data,The US December ADP employment figures, ISM non-manufacturing PMI, and November JOLTs job openings are worth monitoring.

05:30 US API crude oil inventory for the week ending January 2 (in ten thousand barrels)

08:30 Australia November unadjusted CPI year-on-year rate

16:55 Germany December seasonally adjusted unemployment figures (in ten thousand people), Germany December seasonally adjusted unemployment rate

18:00 Eurozone December preliminary CPI year-on-year rate, Eurozone December preliminary CPI month-on-month rate

21:15 US December ADP employment figures (in ten thousand people)

23:00 US December ISM non-manufacturing PMI, US November JOLTs job openings (in ten thousand people), US December global supply chain pressure index, US October factory orders month-on-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)

Pending China's December foreign exchange reserves (in billion USD).

In terms of new stocks, $KNOWLEDGE ATLAS (02513.HK)$ 、 $ILUVATAR COREX (09903.HK)$ 、 $EDGE MEDICAL-B (02675.HK)$ Will conduct grey market trading.

Thursday (January 8th).

Keywords: US December Challenger business layoff numbers, Zhipu and TianShuZhiXin officially listed, MiniMax grey market.

In terms of economic data,The US will announce December Challenger business layoff numbers and initial jobless claims for the week ending January 3rd.

15:00 UK December Halifax seasonally adjusted house price index month-on-month rate.

15:30 Switzerland December CPI month-on-month rate.

15:45 France November trade balance (in billion EUR).

18:00 Eurozone November PPI month-on-month rate, Eurozone November unemployment rate, Eurozone December industrial sentiment index, Eurozone December economic sentiment index.

20:30 US December Challenger business layoff numbers (in ten thousand people).

21:30 Initial jobless claims in the U.S. for the week ending January 3 (in ten thousands), U.S. October trade balance (in billion USD)

23:00 U.S. October wholesale sales month-over-month rate

23:30 U.S. EIA natural gas inventories for the week ending January 2 (in billion cubic feet)

In terms of new stocks, $KNOWLEDGE ATLAS (02513.HK)$ 、 $ILUVATAR COREX (09903.HK)$ 、 $EDGE MEDICAL-B (02675.HK)$ will officially go public, $MINIMAX-W (00100.HK)$ will conduct a dark pool trading session.

Friday (January 9)

Keywords: China's December CPI and PPI, U.S. December nonfarm payrolls report, MiniMax official launch

In terms of economic data,China will release December CPI and PPI data, while the U.S. will issue its December nonfarm payrolls report.

00:00 U.S. Federal Reserve Bank of New York's one-year inflation expectation for December

09:30 China's December CPI year-over-year rate, China's December PPI year-over-year rate

15:00 Germany's seasonally adjusted industrial production month-on-month rate for November, Germany's seasonally adjusted trade balance (in billion euros) for November

15:45 France's industrial production month-on-month rate for November

16:00 Switzerland's seasonally adjusted unemployment rate for December

18:00 Eurozone's retail sales month-on-month rate 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 rate for December, United States' average hourly earnings month-on-month rate for December, United States' annualized number of new housing starts in October (in ten thousand units), United States' total building permits in October (in ten thousand units)

23:00 United States' preliminary one-year inflation rate expectation for January, United States' preliminary consumer confidence index from the University of Michigan for January

In terms of financial events, Fed official Kashkari will make public remarks.

23:00 Kashkari, the Minneapolis Fed President and 2026 FOMC voter, will deliver a welcome speech and participate in an informal discussion at an online event hosted by his bank.

Regarding new stock listings, $MINIMAX-W (00100.HK)$will officially go public, $GIGADEVICE (03986.HK)$ The lottery results will be announced.

Stay ahead with key financial events and discover investment opportunities early! Open Futubull > Market > U.S. Stocks >Economic Calendar/Key Macroeconomic Data, Seize Investment Opportunities Ahead!

A new week begins. Wishing all fellow investors successful investments!

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