| | *past 24-hour performance |
| | 📰 Market Headlines | Markets were rocking and rolling yesterday, with the S&P eyeing a new ATH, until the bottom fell out around 2 pm. Volume was down, volatility was up, and it was probably just profit-taking ahead of the holidays. The major indices ended down between 1.3% and 1.9%, and futures are pointing lower today. Consumer conference numbers leaped in December, up across the board. The Biden administration auctioned off the rights to drill for oil and gas on 1.7 million acres in the Gulf of Mexico. Existing home sales were up slightly in November, halting a five-month losing streak. |
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| | 🕶️ Market Vibes | 🎰 Market Forecasts and Futures | Forecasts come from Kalshi, our favorite prediction market. Get $25 with this link. | | 😱 Fear and Greed Index | | | 🧠 What do you think? | Colorado's Supreme Court took Donald Trump off the ballot, and 14 more states may follow. | |
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| 🎤 What you said last time | | | Fearful | “No way will we get back to a long-term bull market this fast. There hasn't been enough suffering. I suspect a decline of the Dollar will be the largest problem next year since we import so much of what we buy.” |
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| | 📊 Stocks | | Want to invest like Buffet? With Public.com, you can emulate Berkshire Hathaway’s portfolio with just a few clicks. | Winners and losers | Earnings, upgrades, and acquisitions | Hollywood’s Paramount and Warner Bros are in talks to merge. Shares of both companies were down on the news. Micron raised guidance for next year; shares were up 5%. Aon is looking to acquire privately held NFP, a middle-market insurance broker, for $13.4 billion. FedEx missed on both sales and profits and guided down in 2024. Shares tumbled 11%. This brought shares of UPS down 3% as well. General Mills tumbled 4% on missed sales and weaker guidance, noting expectations of a struggling US consumer next year. | Market movers | Toyota is recalling 1 million vehicles over an airbag malfunction. Opting instead for Jelly of the Month club memberships, Tesla is not offering its employees yearly merit-based stock awards this year. Once valued at $2.5 billion, electric scooter company Bird has declared bankruptcy. After 74 years on the Tokyo exchange, Toshiba was delisted yesterday following a decade of upheaval and scandal. | Ideas, trends, and analysis |
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| There were nearly 400 strikes in 2023, and experts think there’s more to come. Three AI-backed stocks that could pop by 2028. Yes, 2028. Three penny stocks that could triple next year (or go to zero. or do both). |
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| | | | 📊 Crypto | | Bitcoin neared $44k as the equity markets tumbled yesterday. A bearish call saying Bitcoin will hit resistance around $45k and could slide to $36k. More than $1 billion in assets belonging to the founders of the bankrupt crypto hedge fund Three Arrows Capital (3AC) have been frozen by a British Virgin Islands court. |
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| | 🌍 Global Perspectives | 🇺🇸 🇬🇧 🇧🇭 🇨🇦 🇫🇷 🇮🇹 🇳🇱 🇳🇴 🇸🇨 🇪🇸 🇾🇪 Responding to the US-led coalition formed against it, Houthi rebels have countered, “We have capabilities to sink your fleet, your submarines, your warships. The Red Sea will be your graveyard.” | 🇦🇷 Speaking of loveable rebels in the Finding Out stage, Argentina’s new president, Javier Milei, is finding out what it’s like being on the other side of a protest. | 🇰🇷 🇯🇵 South Korea’s top court ordered two Japanese companies to financially compensate Korean workers for forced labor during Japan’s 1910-45 colonial rule of the Korean Peninsula. |
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| | | | | | 📺 What to Watch Today | | Warren Buffett: Private Equity Firms Are Typically Very Dishonest |
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| | 📈 Trends you need to know | Search results are from our friends at Glimpse, my favorite way to spot trends. | |
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| Testing the saying that all news is good news. |
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| | That’s all for today. Did we miss anything? Smash the reply button to let us know. | Cheers, | Wyatt |
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