
Welcome back!
Here’s your must-read news this morning:
I’ve got all the details for you, so let’s dive in.
— Josh
MARKETS
💰 Inflation Drops to 2.7%, Much Better Than Expected

(Credit: The White House/Flickr)
The Scoop: U.S. inflation eased in November, offering relief to consumers as price growth slowed across key categories ahead of the Christmas holidays.
The Details:
Consumer Price Index (CPI) rose 2.7% year-over-year, down from 3% in September and below the 3.1% forecast.
Core CPI (excluding food and energy prices) rose 2.6% year-over-year, the lowest level since early 2021.
Prices dropped for hotels, recreation activities, and clothing, while housing (shelter) and food costs went up only slightly.
Prices for durable goods rose a bit: new cars +0.9%, new trucks +0.6%, and major appliances +1.2% (over the two-month period due to data issues)
Clothing prices stayed mostly flat overall, though women's clothing fell about 1%.
Over the two months from September to November, CPI increased just 0.2% total (averaging a very slow pace, the lowest in years when annualized).
What’s Next: Economists will watch whether the trend of easing inflation continues, potentially influencing consumer spending, financial markets, and Federal Reserve interest rate decisions in 2026.
Market Roundup
🏦 Economy
⭐ Editor’s Pick: Trump suspended the Diversity Immigrant Visa lottery program after a Portuguese national who entered the U.S. through it was identified as the suspect in a shooting spree that killed two Brown University students and an MIT professor. (CNBC)
Trump said he is considering declaring a national emergency over housing to address surging home values. (INV)
Canada said a near-term bilateral deal to resolve U.S. tariffs on steel, aluminum, autos and other sectors is “unlikely.” (GM)
A New York Post editorial blasted Sen. Bernie Sanders' opposition to AI data centers as a "poisonously stupid" anti-growth crusade that would cripple U.S. innovation and forgo trillions in investments. (NYP)
📈 Hot Stock Picks
⭐ Editor’s Pick: Motley Fool analysts recommended 10 top stocks for 2026, blending high-growth names like Lemonade with resilient value plays including Alphabet, emphasizing long-term potential amid elevated market valuations. (MF)
Morningstar identified 12 undervalued technology stocks—including Endava, Sabre, Fiserv and Elastic—as attractive buys for 2026, trading at significant discounts to fair value. (MS)
MarketBeat highlighted undervalued dividend stocks trading under $20—Energy Transfer (8.2% yield) and Huntington Bancshares (3.5% yield)—as inflation-beating options offering attractive income. (MB)
🏢 Industry
⭐ Editor’s Pick: TikTok signed agreements to form a new U.S. joint venture majority-controlled by American investors including Oracle and Silver Lake. (CNBC)
Trump Media & Technology Group agreed to merge with fusion energy pioneer TAE Technologies in an all-stock deal valued at more than $6 billion. (FBN)
Eli Lilly's oral obesity pill orforglipron helped patients maintain roughly 95% of prior weight loss after switching from Novo Nordisk's Wegovy in a late-stage trial. (FB)
Costco Travel quietly books billions in cruises, resort stays and vacation packages annually, often at steep discounts that outpace competitors. (WSJ)
🛢️ Energy & Commodities
🌕 Crypto
⭐ Editor’s Pick: The Senate confirmed Michael Selig as chairman of the Commodity Futures Trading Commission in a 53-43 vote. (TB)
Terraform Labs' bankruptcy administrator sued Jump Trading for $4 billion, alleging the firm secretly propped up TerraUSD's peg and contributed to the collapse of Do Kwon's crypto empire. (WSJ)
SoFi launched SoFiUSD, becoming the first U.S. nationally chartered bank to issue a fully reserved dollar-backed stablecoin on a public blockchain. (CN)
Institutional Bitcoin purchases have exceeded newly mined supply for the first time in six weeks, with demand running 13% higher on a rolling daily basis, signaling renewed accumulation. (CT)
White House crypto czar David Sacks said the Digital Asset Market Clarity Act, aimed at clarifying regulatory roles for digital assets, is slated for Senate markup in January. (X)
TECH
💻 China’s Mind-Control Robot Tech Brings Elon Musk’s “Telepathy” Vision Closer to Reality

(Credit: Anna Shvets/Pexels)
The Scoop: Chinese researchers claim to have completed a second successful in-human trial of an invasive brain-computer interface, allowing a paralyzed patient to control a smart wheelchair and a robotic dog with brain signals—a breakthrough that brings Elon Musk’s “telepathy” vision closer to reality, the South China Morning Post reports.
The Details:
The trial was created by the Chinese Academy of Sciences’ CEBSIT, working together with Fudan University’s Huashan Hospital.
A patient with limited movement below the neck used brain signals to control wheelchairs, robotic devices, and pick up objects.
The system had very low delay—less than 100 milliseconds from brain signal to action—making control feel smooth and natural.
A hybrid method for reading brain signals improved control accuracy by about 15–20% even in noisy real-world settings.
Added a feature for real-time “online recalibration” that keeps improving the system's performance during everyday use.
This is part of China's ongoing invasive BCI trials (which started earlier in 2025), making it the second country worldwide after the U.S. (Neuralink) to reach this stage.
What’s Next: Chinese researchers aim to expand clinical trials and accelerate real-world medical applications, with plans to restore motor and language functions within three years.
Tech Roundup
🧠 AI
⭐ Editor’s Pick: Meta is developing a new AI model code-named Mango for advanced image and video generation, alongside a text-focused Avocado large language model. (WSJ)
OpenAI unveiled GPT-5.2-Codex, an advanced agentic coding model with enhanced long-horizon reasoning, Windows compatibility, and stronger cybersecurity features. (SA)
Department of Energy signed AI collaboration agreements with 24 tech firms—including Google, Nvidia, OpenAI, Anthropic, and xAI—to accelerate scientific breakthroughs in energy. (DOE)
Anthropic's Claude AI, tasked with running a vending machine, succumbed to manipulations by dropping prices to zero, stocking a PlayStation 5 and live fish, and losing over $1,000 in inventory. (WSJ)
Mistral launched Mistral OCR 3, an upgraded optical character recognition model with enhanced capabilities for processing forms, scanned documents at $2 per 1,000 pages. (MIS)
🤖 Robots
⭐ Editor’s Pick: MIT researchers developed an AI-driven robotic system that enables users to "speak" 3D-printed custom objects into existence. (GMP)
Chinese humanoid robotics startup Galbot raised over $300 million in funding, setting a new single-round record in embodied AI. (PD)
Midea unveiled Miro U, billed as the world's first six-armed wheel-legged humanoid robot, designed for 360-degree rotation and vertical lifting. (GIZ)
Boston Dynamics showed off a new AI system for its Atlas humanoid robot, making it flexible and easy to reprogram for factory jobs. (IE)
🚀 Defense & Space
⭐ Editor’s Pick: Trump signed an executive order directing NASA to return American astronauts to the Moon by 2028 and establish initial elements of a permanent lunar base by 2030. (SP)
Trump imposed new screening and restrictions on U.S. investments in Chinese tech firms tied to military or surveillance applications. (WSJ)
UK officials attributed a major October cyber attack on the Foreign Office, targeting tens of thousands of sensitive files, to Chinese hackers. (FT)
The U.S. Navy successfully launched a LUCAS one-way attack drone from the USS Santa Barbara littoral combat ship in the Arabian Gulf for the first time. (DN)
💰Venture Capital
⭐ Editor’s Pick: OpenAI is pursuing a fundraising round of up to $100 billion that could value the company at as much as $830 billion. (WSJ)
Edison Scientific, an AI startup that automates hypothesis generation to accelerate biological research, raised $70 million in a funding round co-led by Spark Capital and Triatomic Capital at a $250 million valuation. (BBG)
AI-powered trucking insurance platform Nirvana Insurance raised $100 million in a Series D round led by Valor Equity Partners, nearly doubling its valuation to $1.5 billion. (CB)
Cybersecurity startup Armadin, founded by Mandiant creator Kevin Mandia, raised $24 million in seed funding and is seeking over $100 million more at a potential $600 million-plus valuation. (WSJ)
FREEDOM
📢 Federal Watchdog Urges White Men to Report Workplace Discrimination

(Credit: EEOC/X)
The Scoop: The Equal Employment Opportunity Commission (EEOC) is calling on white men to report workplace discrimination, highlighting that federal civil rights protections cover all employees regardless of race or sex amid the Trump administration’s crackdown on DEI, Fox News reports.
The Details:
EEOC Chair Andrea Lucas shared a video urging white men who have faced discrimination to contact the agency and potentially recover damages under federal law.
Vice President JD Vance reposted the message on X, tying it to his broader criticism of DEI programs, which he said often favored other groups at the expense of white men.
Lucas publicly agreed with Vance, saying that systemic discrimination harming White men is both unlawful and unacceptable.
The EEOC emphasized its commitment to identifying and eliminating all race- and sex-based discrimination in workplaces, including instances affecting white male employees and applicants.
What’s Next: Companies may face increased scrutiny over how hiring, promotion, and workplace programs affect all employees, while federal enforcement efforts could expand to ensure protections are applied evenly.
Freedom Roundup
🏛️ Policy & Culture
⭐ Editor’s Pick: Australia plans to tighten so-called hate speech laws following a deadly terror attack at a Jewish festival on Bondi Beach. (BBC)
Turning Point USA CEO Erika Kirk opened the first AmericaFest since her husband Charlie Kirk's murder, honoring his legacy and endorsing Vice President JD Vance for president. (FOX)
America First Legal filed a civil rights complaint against Penguin Random House, alleging its DEI hiring practices violate federal anti-discrimination laws. (PW)
That's a wrap! You're officially caught up on all things tech, markets and freedom. Subscribe to CAPITAL below.
Feel free to reply to this email with any questions and/or comments.
DISCLAIMER: The CAPITAL newsletter is for informational purposes only and does not constitute financial, investment, or professional advice. Readers should conduct their own research and consult a qualified financial advisor before making investment decisions. The CAPITAL newsletter and its owner and operator, Josh Caplan, are not liable for any loss or damage resulting from reliance on this information. The CAPITAL newsletter is solely owned and independently operated by Josh Caplan, separate from any employer affiliations.

