- Market Briefing
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Market News
Bounceback year
Tech stocks wrapped one of their best years in two decades, Bitcoin starts the New Year rising past $45,000, Chief Justice Roberts says AI will transform the Courts, SpaceX sets new rocket record with 96 launches in 2023, and nearly half of all states will raise the minimum wage in 2024…
S&P near all-time high
S&P 500 inches closer to all-time high, Apple resumes watch sales after appeals court lifts ban, the late-night email sent to Tim Cook that started Apple watch saga, Maersk reroutes dozens of vessels via Suez Canal, and SPAC mania’s ugly end yields $46B in investor losses…
Apple appeal
Apple files appeal after Biden admin allows U.S. ban on watch imports, US-led Red Sea task force in trouble as countries hesitate to join, home prices extend records- rising ninth straight month, Tesla to roll out revamped Model Y, and Israel grants Intel $3.2B for new $25B chip plant…
Awaiting Santa's rally
Wall Street awaits 'Santa Rally’ with stocks near records, OpenAi in talks to raise new funding at $100B valuation, Fed’s inflation gauge shows November prices rose less than expected, home prices to heat up after Fed rate cuts, and if inflation is cooling consumers aren’t noticing…
Fingers point to puts
Fingers point to world's hottest derivatives trade for killing the rally, Citi’s overhaul continues with closure of distressed-debt business, Apple loses attempt to halt watch sales ban, Toyota recalls 1.12 million vehicles over air bag issue, and consumer confidence jumps to a five-month high…
Rally mode continues
Wall Street’s optimism isn’t stopping, shippers have diverted $35 billion in cargo amid fears of attacks, Colorado Supreme Court disqualifies Trump from ballot, Citi suit raises #metoo claims at the top levels, and IRS to waive $1 billion in penalities for people owing back taxes…
Apple's $17B rescue
Apple plans rescue for $17 billion watch business facing ban, Adobe and Figma call off $20 billion acquisition, Fed’s Goolsbee says he was ‘confused’ by last week’s market reaction, antitrust regulators issue new merger rules amid crackdown, and Nikola founder sentenced to four years in prison for fraud…
Irrational optimism?
Fed is sparking irrational market optimism former FDIC Chair warns, gold prices soar to record highs, Teamsters authorize strike at Budweiser, A-Rod’s Slam SPAC plans merger with Lynk Global, and Bezos talks plans for a trillion people to live in huge space stations…
Blackstone goes Swifty
Wall Street cheered best Fed day since 2009, Intel unveils Mortgage rates slide <7% for first time since August, Intel unveils new AI chip to compete, Disney prepares for battle as activist Peltz seeks two board seats, and Blackstone goes all-in on Taylor Swift fandom with holiday video…