$100B US investment

SoftBank CEO announces a $100 billion investment into the US, Trudeau ‘considering resignation’ after finance minister quits, drone stocks are surging, Broadcom jumps 11%, and Nvidia hits correction territory...

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Market Briefing
December 17, 2024

Good morning.

The Fast Five → SoftBank CEO announces a $100 billion investment into the US, Trudeau ‘considering resignation’ after finance minister quits, drone stocks are surging, Broadcom jumps 11%, and Nvidia hits correction territory…

Stocks have soared 25% in 2024...

The S&P has blown through more than 50 all-time highs since the year began...

And a 50-year Wall Street legend has just issued an urgent BUY alert to his 1 million followers:

Calendar: (all times ET) - Full calendar

  • Today:
    US retail sales, 8:30 am
    Industrial production, 9:15 am
    Home builder confidence, 10:00 am

  • Tomorrow:
    FOMC interest rate decision, 2:00 pm
    Fed Chair Powell press conference, 2:30 pm

Your 5-minute briefing for Tuesday, December 17:

BEFORE THE OPEN

As of market close 12/16/2024.

Pre-Market:

US Investor % Bullish Sentiment:
↓ 43.33% for Week of December 12 2024

Previous week: 48.33%. Updates every Friday.

Market Wrap:

  • Dow futures dip 68 pts after its 8th straight loss, longest since 2018

  • S&P 500, Nasdaq hit records; Apple, Tesla, Alphabet notch all-time highs

  • Nvidia -1.7%, down 4% this month despite semiconductor strength

  • Tomorrow: Fed begins its final 2024 meeting; markets expect a 0.25% rate cut

  • Powell’s comments and 2025 rate outlook in focus

EARNINGS

Here’s what we’re watching this week: Full Calendar »

  • Wednesday: Birkenstock (BIRK), General Mills (GIS)

    • Micron Technology (MU) - earnings of $1.77 per share (vs a loss of $.95 per share in the year-ago period) on $8.7B revenue

  • Thursday: Conagra (CAG), Darden Restaurants (DRI)

    • FedEx (FDX) - earnings of $3.95 per share (-1% YoY) on $22.1B revenue (-0.2% YoY)

    • Nike (NKE) - earnings of $.64 per share (-37.9% YoY) on $12.2B revenue (-9.1% YoY)

HEADLINES

Trump and Masayoshi Son, the CEO of Japanese investment firm SoftBank, promised to create thousands of American jobs. They made the same vow eight years ago, with mixed results.

  • Nasdaq hits record as investors await Fed rate decision (more)

  • Dollar supported as longer-run US rates seen higher (more)

  • Oil prices nudge down on demand concerns (more)

  • China plans around 5% growth goal, higher deficit (more)

  • Trump plans to reverse Biden’s EV policies (more)

  • TikTok asks Supreme Court to temporarily block government ban (more)

  • Drone stocks surge on Wall Street led by Red Cat Holdings (more)

  • Broadcom jumps 11%, extending record run as Goldman expresses ‘higher conviction’ (more)

  • Nvidia hits correction territory (more)

  • Waymo to begin testing in Tokyo, its first international destination (more)

  • Some Chinese AI models are already beating their U.S. rivals (more)

  • Meta adds live translation, AI video to Ray-Ban smart glasses (more)

TOGETHER WITH THE MOTLEY FOOL

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DEALFLOW

M+A | Investments

  • Universal buys indie music specialist Downtown for $775M (more)

  • Goldman unit buys €2 bln drugmaker Synthon from BC Partners (more)

  • Alibaba nears $1 bln intime sale to Youngor Fashion (more)

  • Greystar buys $1 bln Australian student-housing portfolio (more)

  • Regional lenders Berkshire Hills Bancorp, Brookline strike $1.1B merger deal (more)

  • Aprio, an advisory and accounting firm, acquired Securitybricks, Inc., a cybersecurity firm specializing in cloud security (more)

  • General Inception, a biotech company igniter, acquired Enable Medicine, a company specializing in AI-led data analysis for biological research (more)

  • ProProfs, a provider of employee development solutions, acquired PeopleGoal, a performance management software company (more)

  • QuickStart, a company specializing in online IT workforce development, acquired Career Development Solutions, a company offering career training (more)

  • Pango Group, a holding company that acquires and operates a portfolio of cybersecurity brands, merged with Total Security, a provider of the antivirus protection Total AV (more)

  • phData, an industry leader in developing and delivering modern data AI solutions, received an investment from Gryphon Investors (more)

VC

  • Current, a consumer fintech banking platform, raised additional $200M in funding - backers included Andreessen Horowitz (more)

  • Precision Neuroscience, a brain–computer interface company, raised $102M in Series C funding (more)

  • CredibleX, a working capital finance platform for SMEs, raised $55M in Seed funding (more)

  • Jiko, a tech platform and bank that provides access to US Treasury bills, raised $29M in Series C funding (more)

  • Unrivaled, a professional women's basketball league, raised $28M in Series A funding (more)

  • Chargezoom, a platform for AI-powered billing and integrated payments, raised $11.5M in Series A funding (more)

  • Triton Anchor, an offshore anchoring systems company, raised $2.2M in Seed funding and secured a $3.5M grant (more)

CRYPTO

  • Bitcoin hits fresh record above $107,000 (more)

  • MicroStrategy boosts Bitcoin holdings to 439,000 BTC following Nasdaq 100 inclusion (more)

  • SEC approves crypto wallet maker exodus to list on NYSE after denying it in May (more)

BULLISH BITES

🛸 Close Encounters: Mystery drones leave local officials seeking action and answers from Feds.

👀 Watching: The 51 most disruptive startups of 2024.

💙  Smooth: The very personable Claude, Anthropic's AI chatbot, "may be San Francisco’s most eligible bachelor."

🎁 Gift Idea: The Horrible Therapist card game.

DAILY SHARES

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