Economic, trade picks

Wall Street hits records despite tariff talk, Trump picks key posts for enacting tariff/tax plans, consumer confidence at a 16-month high, OpenAI gets a $1.5 billion investment, and Bitcoin rally to $100k stalls as long-term holders cash out...

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Market Briefing
November 27, 2024

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Good morning.

The Fast Five → Wall Street hits records despite tariff talk, Trump picks key posts for enacting tariff/tax plans, consumer confidence at a 16-month high, OpenAI gets a $1.5 billion investment, and Bitcoin rally to $100k stalls as long-term holders cash out…

Calendar: (all times ET) - Full calendar

  • Today:
    Initial jobless claims, 8:30 am
    Durable-goods orders, 8:30 am
    PCE index, 8:30 am

  • Tomorrow:
    Happy Thanksgiving

Your 5-minute briefing for Wednesday, November 27 🦃

BEFORE THE OPEN

As of market close 11/26/2024.

Pre-Market:

US Investor % Bullish Sentiment:
↓ 41.29% for Week of November 21 2024

Last week: 49.84%. Updates every Friday.

Market Wrap:

  • Futures steady ahead of Fed’s PCE inflation report.

  • Dell tumbles 11% on weak Q4 forecast.

  • Core PCE expected at +2.8% YoY; eyes on Fed’s Dec. rate move.

  • Fed minutes: Gradual rate cuts likely; December in play.

  • Short week: Market closed Thanksgiving, early market close Friday.

  • Yesterday: S&P, Dow hit intraday and closing highs.

EARNINGS

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

  • Today: Kroger (KR)

  • Thursday: Happy Thanksgiving

HEADLINES

US stocks rose to records Tuesday after Trump’s latest talk about tariffs created only some ripples on Wall Street, even if they could roil the global economy were they to take effect.

President-elect chooses John Phelan as secretary of the Navy. Vince Haley named as director of the Domestic Policy Council.

  • Fed minutes signal more caution on cuts if inflation progress stalls (more)

  • Post-election euphoria lifts consumer confidence to 16-mo. high (more)

  • Option traders bet on deep treasury-market selloff within weeks (more)

  • Major currencies consolidate as market regroups ahead of inflation measure (more)

  • Oil prices steady amid focus on Israel-Hezbollah ceasefire, OPEC+ policy (more)

  • New-home sales plunge 17% in October (more)

  • ‘The S&P 500 without the woke sh*t’: Here come the MAGA funds (more)

  • Bitcoin rally toward $100k stalls as long-term holders cash out (more)

  • OpenAI gets $1.5 billion investment from SoftBank in tender offer (more)

  • New AI tech can spot fake Lacoste products from a photo (more)

  • Kraken shuts down NFT marketplace (more)

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- Shortened briefing today -
Wishing you a wonderful Thanksgiving.
Full briefings will be back on Monday, December 2.

Thank you for reading!

DAILY SHARES

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