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Data fuels rally
Cooler core inflation revives bets on Fed rate cuts, Canada readies tariffs on US products If Trump hits first, Bitcoin tops $100,000, US sues Southwest Airlines over chronic delays, and JPMorgan/Goldma/ Citi rake in record hauls as Biden's era ends...
Good morning.
The Fast Five → Cooler core inflation revives bets on Fed rate cuts, Canada readies tariffs on US products If Trump hits first, Bitcoin tops $100,000, US sues Southwest Airlines over chronic delays, and JPMorgan/Goldma/ Citi rake in record hauls as Biden’s era ends…
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- a message from Behind The Markets
Calendar: (all times ET) - Full calendar
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Your 5-minute briefing for Thursday, January 16:
US Investor % Bullish Sentiment:
↓ 34.67% for Week of January 09 2025
Previous week: 35.44%. Updates every Friday.
Market Wrap:
Dow +703.27 (+1.65%), S&P +1.83%, Nasdaq +2.45%; best day since Nov. 6
Core CPI rose 3.2% (vs. 3.3% est), calming rate hike fears
10-year yield fell to ~4.65%; Tesla +8%, Nvidia +3%
Big banks smashed Q4 earnings: JPMorgan, Goldman, Wells Fargo, Citi all up ~6%
Strong financial results signal optimism for broader economy.
EARNINGS
Here’s what we’re watching:
Today: BofA (BAC), Morgan Stanley (MS)
UnitedHealth (UNH) - earnings of $6.75 per share (+9.6% YoY) on $101.8B revenue (+7.7% YoY)
Friday:
SLB (SLB) - earnings of $.90 per share (+4.7% YoY) on $9.2B revenue (+2.2% YoY)
HEADLINES
The cooling boosted expectations of an interest rate cut this year, leading US bond yields to slide.
Canada has drawn up an initial list of C$150 billion of US-manufactured items that it would hit with tariffs if President-elect Donald Trump decides to levy tariffs against Canadian goods.
Wall St surges as inflation data, bank earnings fuel rally (more)
Core inflation rate slows to 3.2% in December, less than expected (more)
Inflation revival persists as market risk despite CPI-fueled rally (more)
Fed’s Beige Book points to slight to moderate growth at year-end (more)
Gold holds gains on rate-cut optimism (more)
Oil hits five-month high on Russia sanctions, US supply draws (more)
Bitcoin tops $100,000 level as angst over Fed policy path eases (more)
Asian stocks gain after US core inflation cools (more)
Biden admin seeks to avoid default crisis for student loan borrowers (more)
US sues Southwest Airlines over chronic delays (more)
JPMorgan, Goldman, Citi Rake in record hauls as Biden’s era ends (more)
Quantum computing stocks rip higher on Microsoft’s ‘quantum-ready’ directive (more)
Tim Cook plans to join Big Tech CEOs at Trump’s inauguration (more)
Apple in talks with Barclays, Synchrony to replace Goldman in credit card deal (more)
TikTok’s US ops could be worth $50 billion if ByteDance decides to sell (more)
Investors Seek $5 Billion to Form Basketball League to Rival NBA (more)
Luxury groups pin hopes on US as China weakness persists (more)
A MESSAGE FROM BEHIND THE MARKETS
Tesla made Elon Musk the richest man in human history.
And that wealth spread wide...
As the BBC reported, Tesla stock created an "army of millionaires."
One that he predicts will be "worth more than Tesla."
That's a HUGE claim from Elon.
"The Buck Stops Here,"
Dylan Jovine, CEO & Founder
Behind the Markets
DEALFLOW
M+A | Investments
Pfizer to sell $3 bln stake in Sensodyne maker Haleon (more)
Blackstone seeks $3 bln in sale of Bob Dylan, Adele song rights (more)
Agiloft, a contract lifecycle management company, acquired Screens, a gen AI contract review and redlining solution (more)
insightsoftware, solutions for the office of the CFO, acquired JustPerform, a cloud-native planning and reporting platform (more)
Advisor360°, a provider of integrated tech for enterprise wealth management firms, has acquired Parrot AI, a gen AI technology firm (more)
CertifID, a company specializing in wire fraud protection for the real estate industry, acquired Paymints.io, a solution for digital money transfers (more)
DoiT, a global cloud optimization company, acquired LiveDiagrams, a provider of cloud infrastructure visualization and analysis software (more)
Butterfly, a cloud-based property access platform for multifamily and commercial properties, received an investment from FTV Capital (more)
Thrive, cybersecurity, cloud, and IT managed services, received a strategic investment from Berkshire Partners and Court Square Capital Partners (more)
VC
Colossal Biosciences, a de-extinction company, raised $200M in Series C Funding (more)
Be Bio, a company specializing in B Cell Medicines, raised $92M in Series C funding (more)
Alleviant Medical, Inc., a medical device company developing a no-implant atrial shunt for heart failure, raised $90M in financing (more)
Amogy, a provider of ammonia-to-power solutions, raised $56M in funding (more)
Hinge Bio, a biotech company, raised $30M in Series A funding (more)
Maki, a conversational AI agent company for talent acquisition, raised $28.6M in Series A funding (more)
Conceivable Life Sciences, a biotech company specializing in fertility care, raised $18M in Series A funding (more)
Reeco, an AI-driven procure-to-pay platform for the hospitality industry, raised $15M in Series A funding (more)
Granata Bio Corporation, a biopharma company, raised $15M in Series A+ funding (more)
Reown, an onchain UX platform, raised $13M in Series B funding (more)
Rainbow, a digitally-enabled managing general underwriter, raised $8M in Series A funding (more)
Rockfish Data, a synthetic data generation platform for operational workflows, raised $4M in Seed funding (more)
CRYPTO
BULLISH BITES
📸 In photos: L.A. County endures a week of fires.
📅 ChatGPT now lets you schedule reminders and recurring tasks.
🤖 AI financial advisers target young people living paycheck to paycheck.
🏆 Nominate your Grammy for a ‘Grammie’ - contestants are judged in categories such as "Best Voicemail" and win gift cards.
DAILY SHARES
Unless it’s China.
— Ryan Gerritsen🇨🇦🇳🇱 (@ryangerritsen)
6:01 PM • Jan 15, 2025
Men will literally have this set up and still lose 99% of their net worth
— Not Jerome Powell (@alifarhat79)
12:50 PM • Jan 15, 2025
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