- Market Briefing
- Archive
- Page 34
Market News
Shoppers break record
Black Friday shoppers spent a record $9.8 billion online, Musk warns ‘something scared’ OpenAi chief scientist, US stocks cap off best four-week stretch in a year, Meta complaint says underage users were an ‘open secret’, and poll shows Americans think the American dream is dying...
Sam returns
Sam Altman returns as OpenAI CEO in dramatic reversal, Binance CEO agrees to plead guilty and pay $50M fine, Fed gave no indication of possible rate cuts in last meeting, FDIC forms special committee to review allegations, and Nvidia’s revenue triples as chip boom continues...
Microsoft wins
Wall Street cheers Microsoft’s ‘coup’ as stock hits all-time high, Nearly all of OpenAI staff threaten to follow Altman to Microsoft, Benioff woos disaffected OpenAI staff to Salesforce, Citigroup employees brace for layoffs in management overhaul, and Senate committee subpoenas Live Nation and Ticketmaster in months-long probe...
OpenAI's CEO Saga
Sam Altman shock: fired Friday as OpenAI’s CEO, Mira Murati then Emmett Shear each named interim CEO over the weekend (developing), Blackstone is frontrunner in Signature Bank property-loan sale, S&P 500 flirts with quickest comeback in 10 years, and President-elect Milei vows to open a new era for Argentina...
Shop a new car... on Amazon
Biden calls Xi a dictator after carefully planned summit, bulls are in control of the market now, Hyundai to be first automaker to sell new cars on Amazon, Apple to adopt RCS texting standard in truce with Android, and Starbucks employees go on strike during key promotional ‘Red Cup Day’ event...
CPI @ 8:30am ET
Strategists see far deeper Fed rate cuts than the markets, Yellen disagrees with Moody’s negative outlook, Supreme Court adopts first code of conduct following controversies, House Speakers plan to avert gov shutdown faces critical last few hours, and Dubai faces down airline rivals with $50 billion jet orders...
Moody's blues
Moody’s turns negative on US credit rating, military talks will be a priority at Biden-Xi summit, Johnson delivers stopgap plan to lower risk of US shutdown, Main Street prepares for new state minimum wage hikes in 2024, and Chamath says the job of VC won’t exist in a world of AI-powered two-person startups...
Big bank breach
Powell: Fed is ‘not confident’ it’s done enough to curb inflation, world’s largest bank hit by ransomware gang, Humane’s wearable AI pin drops 11/16, Softbank posts $6.2 billion loss after WeWork bankruptcy, and ex-Goldman Partner stars in cabaret about life after Wall Street...
Endless inflation
Griffin says high inflation to last years, Eli Lilly wins FDA approval for rival obesity drug, Amazon to offer Prime members $99 annual access to primary-care service, ChatGPT experiences major outage, and 16 members of Gambino mafia arrested in major raid in NY/Sicily...
XI in SF
S&P, Nasdaq score longest win streak in 2 years, Xi to meet US business execs for dinner in San Francisco, Elon Musks’s Neurolink now has FDA clearance to start surgery, Biden approval falls to lowest level since April, and Hyundai to build US plant to make first flying electric taxi’s...