Last night U.S. time (5 Dec 2025), S&P Dow Jones Indices announced that three more companies will be added at the upcoming December rebalance: CRH plc (CRH) Carvana (CVNA) Comfort Systems USA (FIX) These are announced to join the S&P 500, with corresponding deletions and mid-cap/small-cap moves, but their inclusion becomes effective later in December (typical rebalance effective date is around the week of 19–22 Dec).

- All of the world’s above and below-ground gold together would form a sphere around 107 feet tall. - At $4,166 per troy ounce, the world’s above-ground gold (216.3K tonnes) is valued at $29 trillion, while the below-ground gold (133.1K tonnes) is worth $17.7 trillion. - Gold is up more than 50% to-date despite retreating from October’s record highs of $4,380 per troy ounce. - Driving global demand is the mixture of geopolitical tensions, a weaker U.S. dollar, and sticky inflation. In Q3 2025, central bank purchases were up 28% over the quarter, while inflows of gold-backed ETFs hit $26 billion. - The graphic breaks down the total global supply of gold, both above and below ground, based on data from the World Gold Council.

Within the past 72 hours or so: - Apple's AI Chief steps down - Apple's Head of UI Design leaves to Meta - Apple's Policy Chief steps down - Apple's Head of General Counsel steps down They need a new Steve Jobs.

The new MAG7? Barrick Gold (Y-T-D): 164% Newmont Mining (Y-T-D): 141% Agnico-Eagle (Y-T-D): 115% Lundin Gold (Y-T-D): 252% Gold Fields (Y-T-D): 219% Kinross Gold (Y-T-D): 194% Anglogold Ashanti (Y-T-D): 257% Average return: 184% The 'Magnificent 7' Tech Stocks doing so far this year? GOOGL: +69.7% Nvidia: +35.8% Meta: +15% Apple AAPL: +11.3% Microsoft: +14.6% Tesla: +12.6% Amazon: +4.6%