Daily Brief United States: EURO/US DOLLAR, Gold, Clearwater Analytics Holdings, NVIDIA Corp, Emerson Electric Co, Brookfield Renewable , Priority Technology Holdings I, Crude Oil, Cardinal Infrastructure, Black Hills and more

• Global team focusing on what’s new for 2026 in terms of market outlook
• Bullish on Eurodollar, expecting more modest gains due to US resilience
• Dollar maintains yield supremacy, but new cyclical currencies emerging as carry efficient options for hedging volatility shocks

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• Both precious and industrial metals jumped significantly up over the past week. Gold, Silver, Platinum and also Palladium are currently basically in the same trading regime.
• Copper looks a bit different but also bullish, after breaking an H&S pattern to the upside, providing both systematic and discretionary investors with a great setup.
• Bintas built Trafigura’s copper book into the world’s largest. Now at Mercuria, he’s driving a major expansion into metals.

• Clearwater Analytics delivered robust financial results for the third quarter of 2025, marking significant progress for the company.
• The revenue for the quarter reached $205.1 million, reflecting an impressive year-over-year growth rate of 77%.
• The annualized recurring revenue (ARR) also increased by the same percentage, reaching $807.5 million.

• NVIDIA Corp (NVDA US) started correcting at the end of October 2025. At the same time, in early November, SoftBank Group announced it was unloading all its NVDA stake. 
• SoftBank founder Masayoshi Son, speaking at an investment forum in Tokyo Monday,  revealed he was reluctant to sell SoftBank’s Nvidia stake, but needed to raise cash for new AI investments.
• Both companies are very oversold according to our models, NVDA has reached a point where is a good BUY, we present here a new analytics tool, to support this theory.

• Emerson Electric Manufacturing Company concluded its fiscal year 2025 with a mixed performance, marked by both achievements and challenges.
• Financially, Emerson reported $1.62 in adjusted earnings per share for the fourth quarter, aligning with its expectations.
• For the full year, adjusted earnings per share increased by 9% to $6, while free cash flow rose 12% year-over-year, reaching $3.24 billion.

• Brookfield Renewable Partners recently reported its third-quarter 2025 performance, reflecting a complex mix of achievements and challenges.
• The company recorded an increase in funds from operations (FFO) at $302 million or $0.46 per unit, marking a 10% year-over-year growth.
• This performance was primarily driven by strong commercial and operational execution, strategic investments, and contributions from recent mergers and acquisitions across their diversified renewables portfolio.

• Priority Technology received a non-binding privatization offer from its founder at $6-$6.15/share, with a 11%-14% spread.
• Generation Bio completed restructuring, now a cash shell with net cash at $7.6/share, 50% above current price.
• Sotherly Hotels’ preferred shares trade with a 12-14% spread to offer price, common shares at 5% spread.

• Crude oil futures opened firmer after weekend events, including an attack on the key Black Sea port and OPEC+ maintaining its no change policy for Q1, which improved sentiment.
• Front-month Feb26 ICE Brent futures were trading at $63.23/b (2003 GMT) versus Friday’s settle of $63.40/b, while Jan26 NYMEX WTI was at $59.43/b against a previous close of $58.55/b.
• Benchmarks strengthened as CPC suspended crude loadings at Novorossiysk early Saturday after an unmanned-boat strike tore into one of its offshore moorings, the latest in a string of attacks on the Black Sea export hub.

• Cardinal Infrastructure sets terms for its IPO and could raise up to $253 million if priced at the high end of the range. 
• Cardinal Infrastructure offers full-service, in-house wet utility and site work solutions in fast-growing Southeastern markets, benefiting from strong demand, population growth, and reduced outsourcing needs.
• A proven acquisition-led expansion strategy, deep customer relationships, and high repeat revenue underpin robust growth, a strong backlog, and successful market penetration in new geographies.

• Black Hills Corporation reported strong third-quarter 2025 financial results, reaffirming its earnings guidance and highlighting key operational and strategic achievements.
• The company emphasized its commitment to delivering on financial, regulatory, and growth initiatives, while also progressing with a merger with NorthWestern Energy.
• Black Hills is on track to achieve its full-year earnings guidance, driven by new base rates, rider recovery, and customer growth.