HAPPY MONDAY TO THE STREET
Over the weekend, President Trump said he’s deciding between Kevin Warsh and Kevin Hassett to run the central bank, with an announcement expected in early 2026. Subsequently, Trump once again signaled that he wants a chair who listens to him on interest rates. With the president floating a 1% policy rate, it may not be long before markets start to price a very different monetary regime.
🟥 | US stocks fell as the rotation out of AI into cyclicals and health care continued.
📈 | One Notable Gainer: Immunome $IMNM ( ▲ 15.69% ) surged after the biotech reported positive Phase 3 results for its new tumor drug.
📉 | One Notable Decliner: Zillow $Z ( ▼ 8.47% ) dipped on reports that Google $GOOGL ( ▼ 0.35% ) tested showing real estate listings directly within search results.
— Brooks & Cas
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MARKET SNAPSHOT

All Stock Heatmap. Credit: Finviz
Market Movers
ABERCROMBIE, ROCKET LAB, TILRAY
Abercrombie & Fitch $ANF ( ▲ 5.9% ) added to recent gains as investors rotated out of tech and into retail.
Rocket Lab $RKLB ( ▼ 9.89% ) reversed an early rally tied to speculation around a future SpaceX IPO.
Tilray $TLRY ( ▼ 10.04% ) gave back part of last week’s rally tied to potential federal rescheduling of marijuana.
iRobot $IRBT ( ▼ 72.69% ) collapsed after the company filed for bankruptcy and agreed to be acquired through a Chapter 11 process.
Alibaba $BABA ( ▼ 3.59% ) and Baidu $BIDU ( ▼ 4.94% ) declined after fresh data showed China’s retail sales and industrial production missed expectations.
To monitor hot stocks in real time, check out The Street Feed.
Tomorrow's Trade Idea, Today
BEIJING TURNS SOYBEANS INTO STRATEGY

Soybean Slowdown
China is buying fewer US soybeans. Goldman Sachs $GS ( ▲ 0.18% ) says it has major implications for the nation’s economy, and ours.
Much like with energy and semiconductors, China is pushing to reduce reliance on foreign agricultural supplies. Soybeans are a critical feedstock for livestock, which makes them a strategic vulnerability during trade disputes.
After pausing US purchases amid rising tensions, China resumed buying soybeans following an October truce. However, volumes remain lighter than expected, a shift Goldman sees as intentional rather than temporary.
The bank argues China has now stabilized its dependence on grain imports for the first time in two decades.
Higher Yields, Lower Imports
China has invested heavily in farmland upgrades, seed technology, and feed efficiency.
Goldman estimates corn and soybean yields could rise to about 80% to 85% of US levels by 2035, up from about 50% today. At the same time, soybean use in animal feed could fall by about 25%.
Public spending backs that ambition. China’s annual agricultural R&D outlays reached $6.6 billion from 2019 to 2021, five times the level of two decades ago. That scale puts food security on par with other national priorities.
Goldman’s China Agriculture Plays
Goldman highlights several ways to invest in the theme.
In biotech seeds, it favors Dabeinong (SZSE: 002385), calling seeds the “chips” of food production.
In farm equipment, it points to First Tractor (OTC: FIRRF) as a beneficiary of larger and more advanced machinery demand.
In fertilizers, Yunnan Yuntianhua (SHA: 600096) stands out for upstream self-sufficiency and dividends.
Stateside, the largest publicly-traded US soybean exporters include Archer Daniels Midland $ADM ( ▲ 0.32% ) and Bunge $BG ( ▼ 0.27% ).
Which category will outperform in 2026?
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OVERHEARD ON THE STREET
CNBC: The Trump administration launched a 1,000-member US Tech Force to build federal AI infrastructure with major tech partners.
Reuters: OpenAI appointed former Google $GOOGL ( ▼ 0.35% ) executive Albert Lee as vice president of corporate development.
TechCrunch: Tesla $TSLA ( ▲ 3.56% ) allowed Robotaxi vehicles in Austin to operate without human safety monitors.
Investing.com: The FDA issued a warning to Target $TGT ( ▲ 0.48% ), Walmart $WMT ( ▲ 0.08% ), Kroger $KR ( ▼ 0.84% ), and Albertsons $ACI ( ▼ 0.17% ) for continuing to sell recalled ByHeart infant formula linked to botulism, hospitalizing 51 babies.
WSJ: 21 US states and the FTC sued Uber $UBER ( ▼ 3.82% ), alleging deceptive Uber One billing and cancellation practices and seeking civil penalties
FRIDAY’S POLL RESULTS
Are you bullish or bearish on Netflix $NFLX ( ▼ 1.49% ) over the next 12 months?
▇▇▇▇▇▇ 🐂 Bullish
▇▇▇▇▇▇ 🐻 Bearish
And, in response, you said:
🐂 Bullish — “They have the size to push their agenda.”





