Record-breaking

Magnificent seven back in pole position, Big Tech drives Nasdaq to 20,000, Tesla surges to first all-time high in 3 years, Alphabet soars to all-time high, and inflation gives Fed green light for December cut...

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Market Briefing
December 12, 2024

Good morning.

The Fast Five → Magnificent seven back in pole position, Big Tech drives Nasdaq to 20,000, Tesla surges to first all-time high in 3 years, Alphabet soars to all-time high, and inflation gives Fed green light for December cut…

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Calendar: (all times ET) - Full calendar

  • Today:
    Initial jobless claims, 8:30 am
    PPI report, 8:30 am

  • Tomorrow:
    Export/Import prices, 8:30 am

Your 5-minute briefing for Thursday, December 12:

BEFORE THE OPEN

As of market close 12/11/2024.

Pre-Market:

US Investor % Bullish Sentiment:
↑ 48.33% for Week of December 05 2024*

Previous week: 41.29%. Updates every Friday.

Market Wrap:

  • Nasdaq futures -0.2% after hitting 20K for the first time. S&P, Dow futures also dip.

  • Adobe sank 9% post-weak revenue guidance.

  • Nasdaq up 1.8% Wednesday; S&P +0.8%, Dow -0.2%.

  • CPI met forecasts, boosting Fed rate-cut odds to 99%.

  • Today: PPI (+0.2% expected), jobless claims, and Broadcom, RH, Costco earnings

EARNINGS

Here’s what we’re watching today. Full Calendar »

  • Today: Costco (COST)

    • Broadcom (AVGO) - earnings of $1.39 per share (+25.2% YoY) on $14.1B revenue (+51.3% YoY)

HEADLINES

The Nasdaq 100 climbed 1.9% to a new record as the Magnificent Seven once again find themselves in pole position.

Tesla shares have surged since Donald Trump's reelection, amid hopes CEO Elon Musk's close ties with the President-elect could benefit the company.

  • Stunning rally in Big Tech drives Nasdaq to 20,000 (more)

  • Inflation gives Fed green light for cut in December (more)

    • Annual inflation rate accelerates to 2.7% in November (more)

  • ETFs cross $1 trillion of inflows in 2024, extending record year (more)

  • Dollar holds steady despite rate cut bets; Aussie rises after jobs data (more)

  • Gold holds four-day climb as US data reinforce rate-cut outlook (more)

  • Oil holds gains as US weighs more sanctions against Russia, Iran (more)

  • Budget deficit swells in Nov., shortfall 64% higher than a year ago (more)

  • Asian stocks rise after US inflation backs Fed cut (more)

  • Alphabet soars to all-time high (more)

  • SpaceX valuation surges to $350 billion as company buys back stock (more)

  • Nvidia steps up hiring in China to focus on AI-driven cars (more)

  • Albertsons demands billions from Kroger after terminating merger bid (more)

  • Former TD Bank employee charged in cartel money laundering scheme (more)

  • Nike, NFL extend partnership for 10 more years (more)

TOGETHER WITH NIKE

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DEALFLOW

M+A | Investments

  • NFL approves sale of minority stake in the Philadelphia Eagles at $8.3 billion value (more)

  • Koantek, a Databricks technology partner and advisor, received an investment from Databricks Ventures (more)

  • DMI Personal Care, a contract developer and manufacturer of beauty and personal care products, received an investment from TruArc Partners (more)

  • Island, an enterprise browser company, received an investment from EDBI in Series D funding (more)

  • Eikonizo Therapeutics, a biopharma company developing disease-modifying therapies, received an investment from Novo Nordisk (more)

VC

  • Ayar Labs, a company specializing in optical interconnect solutions for large-scale AI workloads, raised $155M in Series D funding (more)

  • Angitia Biopharmaceuticals, a biotech focused on serious musculoskeletal diseases, raised $120M in Series C funding (more)

  • Veradermics, a clinical-stage aesthetics and dermatology-focused biopharmaceutical company, raised $75M in Series B funding (more)

  • Players Health, a provider of athlete safety and sports insurance solutions, raised $60M in Series C funding (more)

  • Wavegate Corporation, a developer of neuromodulation tech for chronic pain management, raised $26M in Series A funding (more)

  • Ambrosia Biosciences, a drug discovery company, raised $25M in Series A funding (more)

  • Albert Invent, an end-to-end R&D platform accelerates chemical innovation in materials science using AI, raised $22.5M in Series A funding (more)

  • NeuBird, a GenAI empowered ITOps engineer, raised $22.5M in funding (more)

  • RapidCanvas, an AI agents company, raised $16M in funding (more)

  • Exabits, a platform transforming high-end GPU clusters into accessible investment assets, raised $15M in funding, at a $150M valuation (more)

  • Syncell, a company specializing in new subcellular protein purification and spatial proteomics analysis, raised $15M in Series A funding (more)

  • CoachCare, a remote patient monitoring and virtual care management company, raised $11M in Funding (more)

  • Silent Push, a preemptive cybersecurity intelligence company, raised $10M in Series A funding (more)

  • Humanetics, a clinical-stage pharmaceutical company, received additional $5M in funding from Dept of Defense (more)

  • RL Core Technologies, a company developing optimization software for water and wastewater, raised $5M in Seed funding (more)

CRYPTO

  • Michael Saylor’s pitch for Microsoft to buy Bitcoin falls short (more)

  • XRP rallies 10% as Ripple's stablecoin gets regulatory approval (more)

  • BlackRock's Bitcoin ETF drops most in 4 months amid quantum computing FUD (more)

BULLISH BITES

⚡️ Pursuits: The power demands of data centers have become so great that just Exxon announced it is designing a massive natural-gas fueled plant for data centers.

🤖 Deepmind: Google’s AI enters its ‘agentic era’.

📉  Inside Look: New filings reveal just how poorly Tiger Global's "spray and pray" approach to VC investing performed.

💵  Influence: Meta gave $1 million to Trump's inaugural fund.

🏓. Water Sports: Investment firm Yntegra Group has unveiled a floating padel court in Miami Harbor.

DAILY SHARES

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