Baidu stock price exploded higher in Hong Kong, reaching its highest level since 2024. It jumped to a high of H$143.4, up by over 93% from its lowest level in 2025. This rally happened as the company filed for an initial public offering for Kunlunxin, its artificial intelligence and robotics business.

Kunlunxin files for an IPO

Baidu, the biggest search engine company in China, started the year well as it filed for an IPO for Kunlunxin in Hong Kong. The management believes that spinning it off as an independent company will help to reflect its real valuation better.

For one, the listing will make the business available to investors seeking to invest in AI chips and related software and hardware. This is notable as Kunlunxin has positioned itself as a viable alternative to other large chips companies like Nvidia.

Analysts believe that the ideal valuation for Kunlunxin could top $3 billion. However, recent IPOs for Chinese companies have been highly successful, meaning that the real valuation may be bigger than that.

A good example of this is Moore Threads and MetaX, whose shares went parabolic after their IPOs recently. Other companies, including Shanghai Iluvatar CoreX Semiconductor and Biren Technology have also surged after their IPOs. 

Core advertising business is slowing

The Kunlunxin IPO will help Baidu to monetize its business at a time when its advertising business is slowing as Chinese companies preserve cash.

The most recent results showed that Baidu’s revenue dropped by 7% in the third quarter to RMB 32.7 billion, which is equivalent to $4.37 billion.

Baidu’s profits have also slumped, with the net income coming in at RMB 7.32 billion, down from the RMB 7.633 billion it made in the same period a year earlier. 

The slowdown in the advertising business is significantly different from what Google is doing. Google has continued to fire on all cylinders recently, which helped to push its market cap to over $3.7 trillion.

Baidu’s ad business is usually limited by its geography since it mostly caters to Chinese customers. Google, on the other hand, is a more global company that serves advertisers from around the world.

The deteriorating ad business was offset by its AI cloud business, whose revenue rose by 33% to RMB 4.2 billion. 

On the positive side, analysts are optimistic that the company will return to growth this year. Yahoo Finance data shows that the average estimate is that its revenue will jump to RMB 136 billion this year, up sharply from the 129 billion it made in 2025.

Baidu stock price technical analysis 

The daily timeframe chart shows that the Baidu share price bottomed at $74.20 in 2024 and then started a bull run. It peaked at $141.1 in October last year and then retreated to $105 as its advertising woes continued. 

Baidu has now rebounded and moved to the highest point in years. It has remained above the 50-day and 100-day Exponential Moving Averages (EMA).

The stock formed an inverse head-and-shoulders pattern, a common bullish reversal sign. It has also moved above the weak, stop & reverse level of the Murrey Math Lines tool. 

Therefore, the most likely forecast is where it jumps to the ultimate resistance at $150, which is up by 7.2% from the current level. A surge above that will push it to the extreme overshoot level at $175. 

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The crypto market rally resumed today, Jan. 2, as investors bought the recent dip. Bitcoin price rose to over $88,500, while Ethereum jumped by $3,000. The market capitalization of all tokens jumped by 1.35% to over $3 trillion.

Most altcoins were in the green, with Story (IP) rising by 30%. Pepe token jumped by 25%, while Aerodrome Finance (AERO), Immutable (IMX), Filecoin (FIL), Maple Finance (SYRUP), and Render (RNDR) soared by over 10%.

Crypto market rally rose as investors bought the dip

One potential reason why the crypto market rally is happening is that investors are buying the dip. Bitcoin remains 30% below its highest point in 2025, while Ethereum has plunged by 40%. Other top tokens have also dipped by double digits from last year’s high. It is common for investors to buy the dip after an asset crashes by double digits. 

The rebound is also happening as investors anticipate the so-called January Effect. The January Effect is a phenomenon where financial assets rise in January as investors start to buy after selling in December as part of tax-loss harvesting.

Rising futures open interest

The crypto rally is also happening as the futures open interest start rising. Data compiled by CoinGlass shows that the interest has jumped by 2.16% in the last 24 hours to $130 billion. Rising open interest is a sign that investors are deploying leverage, which is a bullish sign.

Still, the interest remains much lower than last year’s high of over $255 billion. It has remained under pressure since the large liquidation event that happened on October 10, when over 1.6 million traders were wiped out. 

The rising futures open interest is happening as liquidations ease. Data compiled by CoinGlass shows that the 24-hour liquidation dropped by 40% to $141 million. 102,114 traders were liquidated in this period, with Bitcoin shorts worth $23.5 million being wiped out.

Potential risk-on sentiment ahead of Fed cuts and IPOs

The crypto market rally is also happening as investors embrace a risk-on sentiment as the year starts. Indeed, data shows that global stocks started the year well, with the Hang Seng Index rising by 2.70%, while the Sensex Index soared by 30 basis points. Futures tied to the Nasdaq 100 and S&P 500 indices were also in the green. 

Market participants are bracing for a strong year, with most Wall Street analysts predicting that the S&P 500 Index will jump to $7,500 and above this year. 

The potential catalysts for the markets are Federal Reserve interest rate cuts, IPOs, including Anthropic, SpaceX, and Kunluxin, and strong earnings. Therefore, this optimism is helping to boost the crypto market.

Potential dead cat bounce or bull trap

Still, the main risk is that the ongoing rally of Bitcoin and altcoins could be a dead-cat bounce. Besides, the holiday mood is continuing, with the 24-hour volume plunging by 25% to $64 billion. In normal times, the volume in the crypto market is usually over $100 billion.

A dead-cat bounce is a situation where assets like stocks and cryptocurrencies rebound briefly and then resume the downward trend as the momentum fades. 

The odds of a bull trap are elevated because past attempts to rebound have faced substantial resistance, with large companies like Wintermute and Binance selling. 

Also, Bitcoin and other altcoins have formed a bearish pennant pattern and remain below all moving averages, pointing to further declines. 

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Alibaba stock price has remained in a bear market after plunging by ~20% from its highest point in 2025. It dropped to a low of $146 in December and then rebounded to $152 in the pre-market. This article conducts a technical analysis pointing to a rebound.

Alibaba stock price technical analysis 

The daily timeframe chart shows that the BABA stock price has retreated in the past few months, moving from a high of $192 to the current $152.

It has moved above the 200-day Exponential Moving Average (EMA), which is a bullish sign in technical analysis.

Most importantly, the stock has formed a giant falling wedge pattern, which is made up of two descending and converging trendlines.

The two lines are now nearing their confluence level, which is a sign that a bullish breakout is about to happen. 

At the same time, the wedge pattern is forming after the stock pumped from a low of $103 in July to a high of $192 in October. That is a sign that it is forming a bullish pennant pattern, which is made up of a vertical line and a symmetrical triangle.

Therefore, the stock will likely bounce back in true coming weeks or months, potentially to the psychological level at $192, which is ~25% above the current level. A move above that price will point to more gains, potentially to the psychological level at $200

On the other hand, a drop below the 200-day EMA level at $140 will invalidate the bullish Alibaba forecast and point to more downside in the near term.

Alibaba stock chart | Source: TradingView

BABA stock has numerous catalysts 

Alibaba stock price rally will be driven by the ongoing boom in the artificial intelligence (AI) industry, which is boosting its cloud business.

The most recent results showed that its Cloud Intelligence Group’s revenue rose by 34% in the third quarter to $5.59 billion. This growth also happened in terms of its profitability, whose EBITDA jumped by 35% to $506 million.

Alibaba has continued to invest in the AI industry, where it has launched several models, including Qwen and Kimi, which are good alternatives to OpenAI’s ChatGPT.

The company’s other businesses are also doing relatively well, with the International Digital Commerce Group growing by 10% in the third quarter to $3.93 billion. Its e-commerce revenue also rose by 9%.

Wall Street analysts are optimistic that the company’s business will continue doing well in the coming years. The average estimate is that its 2025 revenue will be 1.04 trillion yen, up by 4.7% from 2024. This revenue is expected to then hit 1.15 trillion yen this year, with its earnings-per-share (EPS) rising to 65.64 yen from 46.3 yen.

Alibaba is also a relatively cheaper company compared to its peers. It has a forward PE ratio of 20, much lower than Amazon’s 32 and the S&P 500 Index average of 23.

Therefore, a combination of strong cloud business, strong earnings, its cheap valuation, and technicals points to more upside in the near term.

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Reflections and stock-taking are usually a part of the end-of-year celebrations. For investors in the crude oil market, 2025 has been a rather underwhelming year. 

Brent oil price began the year on its front foot, rallying to a six-month high within the first two weeks at $82.66. It has since plunged by over 25% to trade at $61.76 as at the time of writing. As the market participants prepare for the next year, the expected supply glut and weaker demand outlook are set to take center stage in ensuing analyses. 

Crude oil price analysis for 2026

Crude oil price has been on a downtrend in recent months, and is expected to continue with this downbeat mood into the new year. Indeed, concerns over this market imbalance have driven prices down by about 20% ytd. 

According to IEA, supply will exceed demand in 2026 by close to 4 million bpd, which equates to 4% of the global oil demand. However, as the year progresses, the market may find some balance. 

To start with, OPEC+ may pause on further output increases as it strives to bolster crude oil prices while controlling a higher market share. Besides, while the Russia-Ukraine peace talks appear to have made some progress, the tensions are still far from over. As such, the persistent geopolitical risks will likely continue to support oil prices in the coming year.

Further supporting crude oil demand is the robust industrial activity in China; the leading importer of the commodity. On the one hand, its struggling real estate sector and sluggish domestic consumer demand have been weighing on the global demand outlook. However, its vibrant industrial sector and the expected government stimulus are set to improve the situation. 

Nonetheless, this optimism resides side by side with the admissible negativity. For instance, there are persistent concerns over the US labor market. In the nonfarm payrolls data due for release early next year, signs of weakness may further impact the oil demand outlook. 

Brent crude oil price technical analysis

Crude oil price chart | Source: TradingView

As 2025 comes to an end, crude oil price has held steady within the bearish trading channel that has shaped its movements for about 5 months now. Two weeks ago, it extended its losses to a level last recorded on 5th May at $58.71. While it has since rebounded by about 5%, buyers largely remain on the sidelines. As such, it has lacked enough bullish momentum to break the crucial support-turn-resistance zone of $62. 

A look at its daily chart signals the continuation of the downtrend, at least in the short term. At its current RSI of 49, Brent oil price will likely trade within a tight range in the ensuing sessions. Besides, it is finding resistance along the short-term 25-day EMA while trading below the medium-term EMA.

Based on both the technical indicators and fundamentals, the range between the 50-day MA at $62.75 and the support at $60.65 will be worth watching. With further rebounding, Brent crude oil price will likely find resistance at $63.80. On the lower side, a pullback past the current trading range may have the sellers retesting the crucial level of $60. 

READ MORE: Oil prices in 2026: Oversupply looms as OPEC+ struggles to defend prices

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Comex copper price is on track for a weekly loss even as the bulls remain in control during the holiday-shortened week. At the start of the week, it rallied to its highest level since late July before the profit-taking mode kicked in. Notably, the rally is in line with the surge reported in the London Metal Exchange (LME) where supply disruptions yielded a new record high at $12,960 per metric ton. 

At the time of writing, Comex copper price was at $5.68 a pound. Since the start of 2025, it has risen by close to 40%. 

Comex copper price ends the year on a steady note

Supply tightness has been the red metal’s key bullish driver in recent months. Besides, its long-term demand outlook remains positive amid intensive efforts on decarbonization, urbanization, and modernization. 

With these bullish drivers, copper prices in London hit a new record high earlier in the week while those in the US rallied to a 5-month high. These gains are in line with the rallying observed across the crucial metal industry. Amid the persistent geopolitical uncertainties and supply constraints, precious metals like gold, silver, and platinum have recorded stellar performance in recent months. The market has been particularly upbeat in December, with these commodities steadily refreshing their all-time highs. 

Nonetheless, some analysts have expressed their concerns that steady demand in the short term is needed to sustain the copper price rallying that has largely been fueled by supply tightness. Their woes are backed by the elevated US inflation, the struggling Chinese property market, and overall uncertainties over the global economy.

As the new year unfolds, investors will be keen on the US nonfarm payrolls data for cues over the state of the US economy. Besides, the expected stimulus from the Chinese government and further interest rate cuts by the Fed, will help bolster the red metal’s demand.

Comex copper price technical analysis

After bouncing off the support level of $5.56 in the previous session, Comex copper price eased slightly on Tuesday to trade below the crucial level of $5.75. At the time of writing, it was trading at $5.68.

Even with the pullback, it continues to trade above the upper trendline of the bullish channel that has largely shaped its price movements since late July 2025. Notably, it rose past that trendline about a week ago. With that, the recent pullbacks have been an opportunity for buyers to enter the market at a lower price. 

A look at its daily chart hints at further gains in the near term. As part of the key indicators, Comex copper price has held steady above the 25 and 50-day EMAs. However, at an RSI of 59, the surge may be rather subtle. More specifically, the range between $5.56 and the resistance zone of $5.85 will be worth watching. Even with a further pullback, it will likely find support along the 25-day EMA at $5.45, below which this bullish thesis will be invalidated.  

READ MORE: Best copper stocks to buy as prices continue the bull run

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The S&P 500 Index and its ETFs, like SPY, VOO, and the IVV had a strong performance in 2025 as the technology boom accelerated. It soared by 20% this year, and Wall Street analysts believe that the trend will continue in the coming year.

Most companies in the S&P 500 Index were in the green, with Sandisk soaring by 585%. Other top gainers during the year were companies like Western Digital, Micron, Seagate, and Robinhood. This article looks at some of the top constituent companies to watch in 2026.

Warner Bros. Discovery is the top S&P 500 Index stock to watch 

The WBD stock price jumped by 171% this year, making it the sixth-best-performing company in the S&P 500 Index. This surge was mostly driven by the bidding war by Netflix and Paramount Skydance, a company backed by Larry Ellison.

The two companies have already made their bids, with Paramount offering a $30 bid for the whole company. Netflix reached a smaller deal that did not include the company’s TV networks.

Now, according to Bloomberg, Warner will reject Skydance’s bid as soon as next week, noting that it had not increased the offer. Skydance, on the other hand, has hinted that it will go directly to its shareholders.

Therefore, WBD will be the top stock to watch as investors watch the developments on the acquisition.

Nvidia (NVDA)

Nvidia, the biggest company in the world, will be another S&P 500 Index constituent to watch in 2026. It has become a giant company that is the face of the AI industry because of its chips.

Nvidia has also become the face of the circular investment approach, where it buys stakes in its clients, who use the cash to buy its chips, boosting its stock.

Analysts are optimistic that Nvidia will continue its growth trajectory in 2026, with the average revenue estimate for the year being $319 billion, a 50% surge from what it will make this year. Its earnings per share are expected to come in at $7.57 from $4.69 this year.

Oracle (ORCL)

Oracle is another top company in the S&P 500 Index to watch. Its stock surged to a record high of $345 this year and then pulled back to a low of $180. The surge briefly made Larry Elisson the richest man on earth.

Oracle stock jumped after its earnings report showed a backlog of over $493 billion, a figure that then soared to over $523 billion in the last quarter.

The challenge, however, is that analysts are doubting whether the backlog is real as most of it came from OpenAI, a loss-making company. Also, investors are focused on its soaring debt, upcoming maturities, and the fact that it made a negative free cash flow.

Lululemon Athletica (LULU)

Lululemon stock price continued its strong downward trend this year as it crashed by 45%. It has erased billions of dollars in value, becoming a fallen angel.

The company’s decline is mostly because of the ongoing competition in the industry, with companies like Nike and Adidas fighting for market share. It also dropped as its growth accelerated during the year  

Lululemon will be in the spotlight in 2026 as Chip Wilson, its founder, launched a proxy fight by nominating three independent directors. This announcement came three weeks after the company’s CEO left without a clear successor.

Therefore, the company will be in the spotlight as investors watch how it will evolve. Also, investors will be watching the actions of Elliot Management, which took a $1 billion stake. Elliot has suggested that Jane Nielsen, a former executive at Ralph Lauren should take over as the CEO.

Fiserv (FISV)

Fiserv, the giant fintech company, will be in the spotlight in 2026 after the stock plunged by over 40% within a day after the management slashed its guidance and added more board members and a new CEO.

The company said that its adjusted earnings will be between $8.50 and $8’60, much lower than the previous guidance of between $10.15 and $10.30, pointing to more deterioration in Argentina..

Other key companies to watch are big laggards like Chipotle Mexican Grill, The Trade Desk, Deckers Outdoor, Dow, FactSet, and UnitedHealth.

On the other hand, investors will pay a close attention to its big winners like Sandisk, Western Digital, Micron, and Robinhood.

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Micron stock price was in a relentless bull run in 2025, making it the top gainer in the Nasdaq 100 and S&P 500 indices. It jumped to a record high of $294, much higher than the year-to-date low of $62, with its market capitalization rising to over $331 billion.

MU’s jump mirrored that of other companies in the memory industry. For example, in Japan, the Kioxia stock price jumped by 540% this year, signaling that the AI boom is alive and well. Similarly, companies like Sandisk, Western Digital, and Seagate were among the top companies in the S&P 500 Index  

Micron stock price surge was driven by strong revenue growth 

Micron has been one of the fastest-growing companies in the tech industry, with its annual revenue rising to $37 billion in the last financial year from $25.1 billion in the previous year.

The growth trajectory accelerated in the last quarter, with its revenue rising to $13.6 billion from $8.7 billion in the same period last year. This revenue growth was higher than what analysts were expecting, continuing its trend of beating estimates.

Most of its revenue growth was because of the soaring demand for its AI cloud business, which has continued to boom in the past few years as the number of new data centers surge in the US and other countries. 

This growth will likely continue rising as analysts predict that hyperscalers will boost its spending in the coming year. Hyperscalers like Microsoft, Amazon, and Google will boost their capital expenditure spending to between $525 billion and $602 billion in the coming year.

Gartner expects that AI hardware spending will jump to $582 billion in 2026, with most of this happening in areas like storage, servers, and networking equipment.

The most recent results showed that the company’s cloud memory business unit made $5.28 billion in the first quarter of the current financial year, up sharply from the $2.6 billion it made in the same period last year. Its operating margin rose to 55% from that previous 40%.

Meanwhile, the core data center segment made $2.3 billion, up slightly from the $2.2 billion it made last year, while the mobile and client, automotive, and embedded segments made $4.2 billion and $1.73 billion. 

READ MORE: How Micron stock is uniquely positioned to benefit from next phase of AI

Revenue and profitability growth to continue

The management and analysts believe that the company has more room to grow in the coming quarters as demand keeps rising. In its guidance, Micron said that its second-quarter revenue will be $18.7 billion, while its gross margin will improve to 67%. 

Data compiled by Yahoo Finance shows that the average estimate among analysts is that its revenue will jump by 132% to $18.72 billion. 

These estimates are likely conservative as the company has proven over time. The annual revenue is expected to come in at $73.98 billion, up by 97% from the same period last year. 

Most importantly, the earnings per share is expected to come in at $32.14, up sharply from the previous $8.29. It will then jump to $38.48

Still, despite these strong metrics, there are signs that the company is still cheap. It has a B+ valuation rating on Seeking Alpha, with a forward price-to-earnings ratio of 9.14 being lower than the sector median of 31.

The company has a forward revenue growth estimate of 97% and a profit margin of 28%, giving it a rule-of-40 multiple of 128%, meaning that its growth and profitability focus are balanced.

Micron share price technical analysis 

The daily timeframe chart shows that the MU stock price has been in a strong uptrend in the past few years and is now at its all-time high of $295. 

It recently moved above the important support level at $264, its highest swing in November this year, a move that invalidated the double-top pattern.

Micron stock has remained above all moving averages, and has recently formed a bullish engulfing pattern, where a bullish candle follows a small red one.

Therefore, the most likely scenario is where the stock continues rising, with the immediate target being at $300 followed by $350. 

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