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• Mexican President calls on UN to "avoid bloodshed" in Venezuela

  The Mexican president Claudia Sheinbaum urged the United Nations on Wednesday to?act? in order to prevent bloodshed in Venezuela as tensions between the South American nation and the United States escalate. Sheinbaum stated during her "morning" press conference that Mexico was against foreign interference and intervention in Venezuela. "I call upon the United Nations to fulfill their role. It was not present. She said, 'It must take its role to prevent any bloodshed. The U.S. president Donald Trump ordered on Tuesday a "blockade," of all sanctioned tankers that enter and leave Venezuela. The government of Nicolas Maduro called this a "grotesque" threat. Trump will speak to U.S. residents from the White House later on Wednesday evening. U.S. tensions have escalated with Venezuela as Trump has shifted thousands of troops, nearly a dozen ships - including an aircraft carrier – to the area. Venezuela's government issued a statement in which it said that they rejected Trump's 'grotesque' threat.

• World stocks are awash with festive cheer, but the yen is on watch

  The yen rose after Tokyo's sternest warning to date about its willingness to support the battered yen currency. European shares were slightly higher in the early trading, while U.S.?futures remained?little altered on the day. Gold also reached a new record just short of the $4,500-per-ounce threshold. The U.S. economy, which was delayed by the record-breaking government shutdown, was the focus of a week that saw many countries on holiday. The U.S. third quarter growth numbers are expected to show that the U.S. continued to grow with a strong 3,3% clip. This would still be a slight drop from the previous quarter, due to the sharp decline in imports following a surge earlier in the year before the introduction of tariffs. James Rossiter of TD Securities, London's head of global macro-strategies said: "It feels like we can relax a little bit now that the holiday risk premium is down." "On GDP we are looking for upside risks, with a number as high as 3.5%. Consumer demand is growing at a good clip." It should be a day of good news. MSCI’s world stock index rose by 0.2% and is now nearing the record highs reached earlier in the month. MSCI’s broadest index for Asia-Pacific shares outside Japan also increased by 0.4%. Tokyo’s Nikkei closed flat. Nvidia shares rose overnight after a report that stated the company aimed to ship its second most powerful AI chip to China by the Lunar New Year holiday, which is mid-February. Novo Nordisk shares listed in Frankfurt opened Tuesday's early trading nearly 10% higher after the U.S. FDA approved its weight loss pill. This move gives the Danish company an advantage in the race for the market of a powerful oral medication to help people lose weight. It is also a way to gain ground on its rival Eli Lilly. As we near the end of the year, investors are increasing their equity and commodity exposures. This is according to Jose Torres senior economist at Interactive Brokers. For now, traders will take their cues from the general feeling among participants that little is standing in the path of a Santa Claus rally manifesting. China's blue-chip index CSI300 rose by 0.2%. According to the summary of a Tuesday housing policy conference, China will intensify its efforts to stabilize its property market and accelerate urban renewal in 2026. INTERVENTION RISK KEEPS YEN IN CHECK Investors weighed up the chances of an imminent intervention by Japanese authorities to support the currency. Satsuki Katayama, Japan's Finance Minister, said on Tuesday that Tokyo has the right to intervene in currency markets to stop sharp falls in the yen. This is the strongest warning yet about Tokyo's willingness to do so. The yen rose 0.7% to 155.88 against the dollar. The yen also gained against the euro and Swiss franc. The BOJ increased rates on Friday at the end of its December policy meeting. This was widely anticipated and Governor Kazuo ueda gave few hints about the future extent of rate increases. "Their message was so uninspiring... You hike, but you must hike with conviction." "They didn't hike with confidence," said Alicia Garcia Herrero. Chief economist for Asia Pacific, Natixis. The dollar fell against major currencies with the Euro up 0.2% to $1.1782, and Sterling 0.3% higher at $1.3500. Gold and silver spot prices also reached record highs. This was driven by the demand for safe havens due to escalating geopolitical turmoil, following news that the U.S. had pursued another oil tanker from Venezuela. The oil prices remained largely unchanged, with Brent crude futures trading around $62 per barrel and U.S. Crude at $58. (Reporting from Dhara Ranasinghe and Rae Wee, in London; editing by Frances Kerry).

• Vattenfall, a Swedish nuclear company, has applied for state assistance for the construction of new reactors.

  Vattenfall, a Swedish utility, has requested state funding to build new nuclear reactors at Ringhals, the company announced on Tuesday. This is the first time a company has done so as part of a program the government hopes will bring about a revival in nuclear energy. Videberg Kraft, the majority-owned subsidiary of state-owned 'Vattenfall', plans to build small modular reactors at its Ringhals nuclear plant in south-west Sweden. In a press release, Desiree Comstedt said that the state's support would be crucial for this project. She is head of Vattenfall's new nuclear energy. The?government stated that the amount and conditions of any financing will be subject to negotiations with?Videbergkraft. The European Commission will have to approve the financing. Sweden's right-of centre government has pledged to revive Sweden's nuclear power sector. The government is aiming to build 10 full-size nuclear reactors by 2045, in addition to the six currently operating. Ulf Kristersson, Prime Minister of Sweden, said on X that "new fossil-free electricity production is crucial for the electrification" of Sweden's industry and transport. The industry and power sector are wary about investing billions in projects that may prove unprofitable, as the costs of renewable energy such as solar and wind continue to drop. The government will share in the risk and cost of building a new capacity of around 5,000MW through a combination?of cheap loans of up to 440 billion crowns (47.76 billion dollars) and price guarantees. Vattenfall has shortlisted Rolls-Royce 'SMR' and GE Vernova (US) as possible suppliers for the reactors. It will choose either three BWRX-300 GE Vernova reactors or five Rolls-Royce GE Vernova BWRX-300 GE Vernova?reactors, totaling 1,500 MW. The government will choose one by the end of next year. However, it has stated that a final decision regarding new nuclear reactors?will not take place until 2029. All of Sweden's reactors today were built between the 1970s-80s. The electricity produced in Sweden is almost completely fossil-free. Hydropower accounts for about 40%, nuclear power 30%, and wind energy 20%.

• Copper nears record highs due to supply constraints and rate cuts

  Prices of copper were largely stable on Tuesday. They remained near the record highs set in the previous session as supply constraints, and bets that the U.S. monetary policy would ease, and China's, boosted?prices. As of 0727 GMT, the most active contract for copper on Shanghai Futures Exchange had closed daytime trading little changed, at 93 740 yuan per metric ton ($13 337.0). On Monday, it reached a new record high of 95,470 yuan. The benchmark copper three-month contract on the London Futures Exchange? grew by 0.2%, to $11,944.0 per ton. Markets are pricing in two rate reductions for next year, amid expectations of a more dovish stance. Supply-side factors were also supportive in China. According to a Chinese market data provider, the country's top copper smelters plan to reduce production by more than 10% in 2026 in order to "counter" overcapacity that has led to an increase in copper concentrate processing costs. Kunal Shah is the head of Nirmal Bang Commodities' research. He said, "The fundamentals of base metals are very positive (as China is likely to introduce another round of interest rates cuts) and also is looking to reduce excess melting capacity for base materials. This is very, extremely bullish." Nickel, among other SHFE base materials, rose 4.4%, to 123.040 yuan per ton. This is a higher price than two months. The London nickel benchmark also rose, rising 1.2% to $16,460 per ton. This is its highest level since October 10. Shah said that "LME copper is expected to reach $13,500/ton in the coming months, while aluminium will likely (reach $3200/t) within the next six-to-nine months. Zinc could also test $3200/t after the next quarter." Aluminium fell by 0.3% in Shanghai. Zinc rose by 0.1%. Lead increased 0.3%. Tin gained 0.5%. Aluminium, zinc, and lead all rose 0.3%. Tin gained 1.2%.

• Mike Dolan: Guns and gold will win in 2025 but other "safety" trades will bomb.

  In 2025, precious metals outperformed all other "safe haven" investment options. This is remarkable, especially in an year that was marked by turmoil, conflict and artificial intelligence bubble concerns. The market landscape for this year was shaped by a number of factors: a booming economy, politicians pushing for easy money, fading recession fears, an AI frenzy, and rising geopolitical tensions. Precious Metals outperformed almost everything else. Silver and platinum have more than doubled and gold has risen over 60%. This is its biggest jump since 1979's oil crisis. This performance was far superior to the roughly 20% gain in global equity indices. It is not yet clear whether gold, silver and platinum are caught in their own speculative bubble. Their strength is boosted by central bank demand, and their role in the wider tech build-out. The oil glut has sunk the wider commodity indexes this year. The price of crude oil has fallen by 20% in one year despite several tensions in the Middle East and fears that it will reach $100 per barrel. The best investment for those worried about a global conflict was the defense sector. U.S. aerospace stocks and defense stocks saw gains of 36% by 2025 while European counterparts rose 55%, and Germany and Europe re-armed. LAGGING BONDS & DEFENSIVES This year, most traditional buffers and defensives played a role as dead weights in portfolios rather than a protection. Even bitcoin, which is referred to by some as "digital currency", ended the year with a loss. Bonds also had a bad year. Global "risk-free' government bond indices lost about 1% on a dollar basis, but returned just over 6% in total. Bloomberg Multiverse benchmarks, which include government, supranational, agency, and corporate debts, performed little better with price gains around 1% and total returns near 7%. This is less than half of the increase in MSCI's index of all-country stocks, which has been on course for its best year ever since before the pandemic. Going defensive in equities was not a winning strategy. The S&P 500 as a whole, boosted by the tech megacaps and AI theme, posted annual gains of 15 %, as the strong U.S. economy rebounded and interest rates fell in the second half 2025. S&P 500 stocks that are considered "growth" soared 20%. This is more than twice the gain of stocks classified as "value". The S&P 500 total return was 5 percentage points higher than the equally-weighted index. Utility, healthcare, and financial stocks all had good years with gains of more than 10%, but they still trailed behind the main index. Consumer staples, which are at the bottom of the list, only managed to gain 2%. The Dow Industrials blue chip index also lagged behind the S&P 500 as well as the Nasdaq. SAFETY IS LAST The yen of Japan and the franc of Switzerland are often viewed as safe currencies. However, one of these also disappointed at year's end. The yen initially rose in value, as did the Swiss franc. However, the Japanese currency lost all of its gains after the dollar fell. Investors were worried about new fiscal stimulus, and the arrival of Sanae Takaichi as Prime Minister caused some unrest on domestic bond markets. The yen has fallen by about 4% in real terms against Japan's major trading partners. The franc held onto its gains in the early years and was, along with silver and gold, one of few safe havens that made good by 2025. If you thought the dollar was a safe haven during times of geopolitical tension, you were wrong. The 'DXY' dollar index dropped 12% in some of the most turbulent months and continued to be weak throughout multiple flashpoints across the Middle East, Eastern Europe, and even the Caribbean. Investors who are wary of disruptions could have bought volatility indexes that track options to benefit from the wild swings in stock and bond prices. These parachutes didn't open in 2025 either. The S&P 500 VIX "fear" index of implied volatility for one month ended the year at a two-point deficit from where it began, despite big swings during the spring. MOVE, the Treasury equivalent index, has fallen by more than two thirds from its opening level, and is now less than half of its peak in April. Also, the main currency market vol' gauges have fallen. This year, it didn't pay to be overly cautious. Double or quit in 2026? These are the opinions of the columnist, an author for. You like this column? Open Interest (ROI) is your new essential source for global financial commentary. Follow ROI on LinkedIn. Sign up for Morning Bid U.S., my weekly newsletter.

• Stocks and precious metals are rising; the yen is on watch

  Asia shares and precious metals rose on Tuesday, as investors continued to buy ahead of the "festive holidays", with a reading on the U.S. Gross Domestic Product (GDP) expected later that day. The fragile yen recovered as traders watched for any signs that Japanese authorities would intervene to stop the currency's decline. Investors can catch up with a number of U.S. Economic releases that were delayed due to a record-breaking government shutdown in January. The key data for Tuesday will be the third-quarter figures of growth, which are expected to show that the U.S. has continued to grow strongly. The expected annualised growth is 3.3%. This is a slight drop from the previous quarter, due to a sharp decline in imports following a surge earlier in the year before the introduction of tariffs. David Doyle, Macquarie Group's head of economics, said that the underlying growth is likely to slow in Q4 due to the prolonged government shutdown. He also noted the possibility of a new headwind coming from auto sales. The market sentiment remained positive ahead of the result. MSCI's broadest Asia-Pacific index outside Japan rose by 0.39%. Tokyo's Nikkei fell 0.1% due to a stronger yen. European futures are mixed, but Nasdaq and S&P 500 futures are little changed. Shares of Nvidia soared overnight after a report that the company had told Chinese clients they planned to begin shipping their second-most powerful AI chip to China in mid-February, before the Lunar New Year holidays. Novo Nordisk shares listed in the United States jumped 6% during extended trading on Monday after the U.S. Food and Drug Administration (FDA) approved its weight loss pill. Jose Torres is a senior economist with Interactive Brokers. He said, "Risk-on sentiment?is dominating Wall Street as we begin the week before Christmas, and investors are increasing equity and commodity exposures in preparation for year-end." For now, traders will take their cues from the general feeling among participants that little is standing in the path of a Santa Claus rally manifesting. Spot gold and silver reached all-time-highs in precious metals. This was driven by the demand for safe-haven assets as geopolitical tensions escalated, with the U.S. attempting to seize more tankers transporting Venezuelan oil. After rising on Monday due to concerns about disruptions in supply, oil prices have eased slightly. Brent crude futures dipped 0.26% to $61.91 per barrel, while U.S. oil fell 0.33% at $57.82 a barrel. INTERVENTION RISK KEEPS YEN IN CHECK Hong Kong's Hang Seng Index remained flat, while China's CSI300 blue chip index rose 0.4%. According to the summary of Tuesday's housing policy conference, China will intensify urban renewal in 2026 and make greater efforts to stabilize its property market as it prepares for its next Five-Year Plan (2016-2030). The yen was the main focus on the foreign exchange markets as investors assessed the likelihood of an impending intervention by the Japanese authorities to support the currency. Satsuki Katayama, the Finance Minister of Japan, said that Tokyo has the right to intervene on the currency market if the yen's value continues to fall. This is the strongest warning yet about Tokyo's willingness to do so. The yen rose 0.7% to 155.99 against the dollar. It also made large gains against peers such as the euro and Swiss franc. Vishnu Varathan is the head of Asia ex-Japan macro research at Mizuho. He says that intervention "may be more opportunistic than imminent." He said, "And be sure there won't be any fixed 'line' in the sand." The BOJ increased rates on Friday at the end of its policy meeting for December. This was widely anticipated and Governor Kazuo ueda gave few hints about the future extent of rate increases. "Their message was so unimpressive... You hike, but it needs to be with conviction. "They didn't walk with conviction", said Alicia Garcia Herrero chief economist of Asia Pacific for Natixis. The dollar has been on the back foot in other currencies. The euro rose by 0.15% to $1.1776 while the pound sterling increased by 0.24% at $1.3493.

• Oil prices steady as the market weighs Venezuela and Russia supply risks

  The oil prices remained stable on Tuesday, after rising by more than 2% the previous session. The U.S. announced that it may sell the Venezuelan crude they seized. Meanwhile, Ukraine's attacks against Russian vessels and piers increased fears of supply disruption. Brent crude futures fell by 6 cents or 0.1% to $62.01 a barrel at 0440 GMT. U.S. West Texas Intermediate crude (WTI), which is a blend of West Texas and Texas Intermediate crudes, fell 9 cents or 0.16% to $57.92. Brent's daily performance was the best in two months, and WTI rose to its highest level since November 14. In a recent note, Priyanka?Sachdeva, a senior market analyst at brokerage Phillip Nova said that crude oil markets were grinding through the last weeks of 2025 - with prices largely subdued. This reflects a tug-of war between persistently bearish fundamentals, and intermittently bullish headlines. She said that while prices showed modest rebounds in geopolitical headlines through 2025, a broader narrative points to an imbalance of sluggish supply and sluggish demands. Overall, the trend is weaker as structural supply concerns overshadow short-term risk-off rallies. The markets are cautious, as traders balance geopolitical risk against the forecasts for ample supply by early 2026. This leaves prices vulnerable to any prolonged disruptions. Donald Trump, the U.S. president, said on Monday that the U.S. could keep or sell oil it has seized in recent weeks off the coasts of Venezuela. This is part of his campaign of pressure against Venezuela, including a "blockade", of oil tankers subject to sanctions, entering and exiting the country. Barclays stated in a Monday note that oil markets would likely be well-supplied in H1 26 even if Venezuelan exports fell to zero in the near future. Barclays, however, estimates that the global oil surplus in 2026 will be reduced to just 700,000 barrels a day. A prolonged disruption would also tighten up the market, reducing recent stock builds. Russia and Ukraine have been attacking each other's Black Sea facilities, which is a crucial export route for both countries. In the second attack in less than 24 hour, Russian forces attacked Ukraine's Black Sea Port of Odesa on Monday night and damaged port facilities and an entire ship. Authorities in the region of Krasnodar, Russia, said that a Ukrainian drone attack caused damage to?two vessels and two piers, as well as a fire, in a village. Ukraine has also targeted Russia’s maritime logistics. It is focusing on the shadow fleet of oil tankers, which are attempting to bypass sanctions against Russia during the almost four-year-old war. (Reporting from Anjana Anil, Bengaluru; Emily Chow, Singapore; Editing done by Sonali and Neil Fullick.)

• Latrobe Magnesium receives potential funding from an export agency for the second stage of its magnesium plant

  Export Finance Australia has sent a non-binding support letter to Latrobe Magnesium, Australia. The letter could be used to fund the construction of a magnesium plant in Victoria. The U.S. will provide support for the development of stage 2 of the commercial magnesia extraction facility as part of a deal with Australia that aims to counter China's dominance of the minerals industry. Magnesium, which is used to produce steel and titanium in China, is the world’s largest producer. Construction of the 'plant, which will process up to 10,000 tons of magnesium each year, is estimated to cost approximately A$250,000,000 ($166.70 millions). Latrobe didn't specify any potential EFA support. As of 0349 GMT the shares of the 'Victoria based magnesium plant operator increased by up to 15% to A$0.023, their highest level since December 12. The benchmark index rose 1.1%. The company stated that the letter of support is not a financial commitment, and it must meet the due diligence criteria and eligibility criteria set by the export agency. The company?said that Australia's Export?Credit Agency, EFA, expressed an interest in partnering with the U.S. Export-Import Bank to finance the stage 2 project. The U.S. Export-Import Bank sent a 'Letter of interest' to Latrobe in October to explore financing for up to A$200,000,000 ($133.26,000,000) for the Stage?2 Plant. The U.S. will receive all magnesium produced by the stage 2 plant under an offtake contract. David Paterson, CEO of Latrobe, said: "The United States currently does not have a primary magnesium producer in its locality. LMG is well positioned to fill this gap within the next few years."

• Oil prices drop as the market considers Venezuela and Russia supply risks

  The oil prices fell in early trading on Tuesday, after rising by more than 2% the previous day. This was due to the U.S. saying it may'sell Venezuelan crude that it has seized. Meanwhile, Ukraine's attacks against Russian vessels and piers increased supply disruption concerns. Brent crude futures dropped 11 cents or 0.18% to $61.96 a barrel at 0100 GMT. U.S. West Texas Intermediate crude (WTI), which is a blend of U.S. West Texas Intermediate and Brent crude, fell 13 cents or 0.22% to $57.88. Brent posted its best performance in over two months, while WTI climbed the most since November 14, Donald Trump, U.S. President, said on Monday that the U.S. could keep or sell oil that it has seized in recent weeks off the coast of Venezuela as part of his pressure campaign on the country. Trump added that it could be used as a strategic reserve or to sell. He said that it would be smart for Venezuelan president Nicolas Maduro to step down. Barclays stated in a Monday note that oil markets would likely be well-supplied in H1 26 even if Venezuelan exports fell to zero in the near future. Barclays, however, estimates that the global oil surplus is expected to shrink by 700,000 barrels a day in the?fourth quarter of 2026. A prolonged disruption may further tighten the market, reducing recent inventories. In the meantime, Russia and Ukraine launched attacks on each other's facilities in the Black Sea. This is a crucial export route for both nations. Russian forces attacked Ukraine's Black Sea port of Odesa on Monday night, damaging port facilities and a vessel. This was the second attack in less than 24 hours. Authorities in the region of Krasnodar, Russia, said that a Ukrainian drone attacked two vessels and two?piers, causing a fire to spread in a village. Ukraine has also targeted Russia’s maritime logistics, focusing on the shadow fleet oil tankers which attempt to bypass Russia’s sanctions over the nearly 4-year war. Market participants remain cautious, weighing geopolitical risk against the forecasts for ample supply by early 2026. This leaves prices vulnerable to prolonged disruptions.

• Trump: It would be a'smart move' for Venezuelan Maduro's Maduro leave power

  Donald Trump, the U.S. president, said that it would be a good idea for Venezuelan President Nicolas Maduro if he left power. The United States can 'keep or sell' the oil they have seized in recent weeks off the coast of Venezuela. Trump's campaign of pressure on Maduro includes a stepped-up military presence and over two dozen military attacks on vessels suspected of trafficking drugs near Venezuela in the Pacific Ocean or Caribbean Sea. The?attacks have killed at least 100 people. When asked if his goal was to remove Maduro from the presidency, Trump replied to reporters: "Well I think it would probably... It's up him what he decides to do. I think he'd be wise to do that. We're going to find out." He said, "If he does something, and he is tough, that will be the last time?he can ever play tough." Trump, during the press conference also "took aim" at Colombian president Gustavo Petro, with whom he had also been feuding throughout the entire year. "He is not a friend of the United States." He is very bad. He's a very bad guy. "He's got to watch his ars because he's making cocaine and they're sending it into the U.S.," Trump replied when asked about Petro’s criticisms of the Trump administration’s handling the tensions with Venezuela. Trump announced earlier that in addition to the strikes, he would "blockade all oil tankers subject to sanctions from entering or leaving Venezuela." On Sunday, the U.S. Coast Guard began pursuing an oil-tanker in international waters near Venezuela. This would be the second operation of this weekend and the third within two weeks. Trump said, "Maybe we'll sell it, or maybe we'll keep it," when asked about what would happen to the oil seized. He added that it could?also be used?to replenish the United States strategic reserves. Maduro, without directly referring Trump's remarks, said that every leader should?attend to the internal affairs of his or her own country. "If I talk to him again, then I'll tell him that each country should take care of its own internal matters," Maduro said in reference to a first phone call made between the two leaders a month ago. Steve Holland reported the story. Idrees Al-Ali (Writing) and Chris Reese, Stephen Coates and Stephen Coates (Editing).

• Trump: It would be a'smart move' for Venezuelan Maduro's Maduro leave power

  Donald Trump, the U.S. president, said that it would be wise for Venezuelan president Nicolas Maduro if he left power. The United States can keep or sell the oil it has seized in recent weeks off the coasts of Venezuela. Trump's campaign of pressure on Maduro includes a stepped-up military presence and over two dozen strikes against vessels suspected of trafficking drugs near Venezuela in the Pacific Ocean and Caribbean Sea. The attacks have killed at least 100 people. When asked if the aim was to remove?Maduro, Trump replied: "Well I think it would probably... It's up to him to do what he wants to do. I think he'd be wise to do that. But, again, "we're going to find out." He said, "If he does something, and he is tough, that will be the last time ever for him to be tough." "He is not a friend of the United States." He is very bad. He's a bad guy. He has to watch his ass, because he is making cocaine and sending it into the U.S." Trump also announced that he would "blockade", all oil tankers entering or leaving Venezuela under sanctions. The U.S. Coast Guard began pursuing an offshore oil tanker near Venezuela, on Sunday. This would be the second operation of the weekend and the third within two weeks. When asked what would become of the oil, Trump replied, "Maybe we'll sell it, or maybe?we'll keep it." He added that it could also be used to replenish United States strategic reserves.

• Gold, silver, and oil surge amid US-Venezuela conflict

  The majority of major stock indices rose on Monday at the beginning of a holiday-shortened week. Shares of Nvidia were up, and the yen was stronger versus the U.S. Dollar after Japanese officials warned of "one-sided, sharp" currency movements. Gold and silver prices soared to new records, and oil prices rose as well after the U.S. Coast Guard started pursuing an oil-tanker near Venezuela in international waters a day before. Nvidia gained 1.3%. The company told Chinese clients that it plans to begin shipping its second most powerful artificial intelligence chip to China before mid-February's Lunar New Year holiday. The financials also increased. TRADING VOLUMES ARE EXPECTED BE LIGHT Trading volumes may be low through the end week, as the U.S. stock and bond markets are closed for Christmas on Thursday. The late November downdraft is the intermediate bottom which has brought many technology, AI and Data-center names down. Bruce Zaro of Granite Wealth Management in Plymouth Massachusetts said, "I do believe that's the bottom." He said that the market was "entering Santa Claus period", which is a time when stocks are typically strong. The Dow Jones Industrial Average gained 233.48, or 0.48 %, to 48 367.72. The S&P 500 rose 41.16, or 0.60 %, to 6,875.66. And the Nasdaq Composite gained 128.10 points, 0.55% to 23,435.00. European stocks closed down 0.1%. Japan's Nikkei finished up 1.8%, extending Friday's bounce. Atsushi?Mimura, Japan’s top currency diplomat, said to reporters that recent FX movements were unbalanced and abrupt, adding that government will take appropriate actions against excessive moves. Minoru Kihara, the Chief Cabinet Secretary, also warned about yen's continuing weakness. Investors interpreted the comments as an indication of Tokyo's intervention. The dollar fell as low as 156.88 yen last week, or about 0.5%. The minutes of the Bank of Japan's meeting will be released on Wednesday. On Christmas Day, the head of central bank will speak to a Japanese business lobby. Benchmark U.S. Treasury yields increased with the yield of 10-year Treasury Notes last up 1.2 basis point at 4.162%. Gold spot was up 2.3% to $4,436.29 an ounce, after reaching a new high of $4440.21. Spot silver rose 2.1% to $68.55 per ounce after reaching a new record of $69.44. Brent crude settled at $62.07 per barrel, up $1.60. (Reporting from Caroline Valetkevitch, New York, and Nell Mackenzie, London; additional reporting provided by Wayne Cole; editing by Stephen Coates; Toby Chopra; Rod Nickel).