First big stocks test

Biden inks social security bill, Jobs report poses first big stocks test of 2025, US crackdown leads Chinese firms to set their sights elsewhere, Microsoft to invest $80 billion on AI data centers this year, and trader who made billions in 2008 returns to bet on market swings...

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Market Briefing
January 06, 2025

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Good morning.

The Fast Five → Biden inks social security bill, Jobs report poses first big stocks test of 2025, US crackdown leads Chinese firms to set their sights elsewhere, Microsoft to invest $80 billion on AI data centers this year, and trader who made billions in 2008 returns to bet on market swings…

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Reader Sentiment: Do You Support the US Investing in Bitcoin as a National Asset?

🟩🟩🟩🟩🟩🟩 👎 NO 63%
🟨🟨🟨⬜️⬜️⬜️ 👍 YES 37%
Results from Sunday’s poll

Comments:
👎 “Asset doesn’t have any real tangible backing and inherent valuation is highly speculative and volatile.”
👎 “Bitcoin will never be a national asset.”
👍 “Need to do something to secure our debt or go back to the gold standard.”👎 
👎 “Bitcoin is nothing but a giant Ponzi scheme”
👎 “For something that's pretty much supported by nothing it's ridiculous”
👎 “Too speculative”

Calendar: (all times ET) - Full calendar

  • Today:
    Factory orders, 10:00A

  • Tomorrow:
    US trade deficit, 8:30A
    Job openings, 10:00A

Your 5-minute briefing for Monday, January 6:

BEFORE THE OPEN

As of market close 1/3/2025. Bitcoin as of 1/5/2025.

Pre-Market:

US Investor % Bullish Sentiment:
↓ 35.44% for Week of January 02 2025

Previous week: 40.71%. Updates every Friday.

Market Wrap:

  • Futures flat ahead of shortened trading week; Dow -4 pts, S&P +0.03%, Nasdaq +0.05%.

  • Santa Claus rally fizzled; all major indexes logged weekly losses.

  • Jobs data this week: JOLTS (Tue), ADP (Wed), Dec jobs report (Fri).

  • Investors eye cracks in hiring and high 10-year yield near 4.6%.

EARNINGS

Light week - here’s what we’re watching:

  • Friday: Constellation Brands (STZ)

    • Delta Air Lines (DAL) - earnings of $1.74 per share (+35.9% YoY) on $14.7 billion revenue (+3% YoY)

    • Walgreens (WBA) - earnings of $.40 per share (-39.4% YoY) on $37.4 billion revenue (+1.8% YoY)

HEADLINES

Steve Diggle’s Vulpes seeking as much as $250 million for fund. Vulpes team sees multiple fault lines leading to volatility.

(BYD’s new EV construction site in Brazil.) As President-elect Donald Trump’s tariffs loom over China’s flagging economy, companies are ramping up research and investment elsewhere.

  • US jobs report poses first big stocks test of 2025 (more)

  • Biden inks social security bill in rare public signing ceremony (more)

  • Gold holds decline after Fed officials express inflation concern (more)

    • Goldman pushes back $3,000 gold forecast on fewer US rate cuts (more)

  • Oil holds near 2-month high as stocks set to open higher (more)

  • Asian currencies hit two-decade low, stocks mixed (more)

  • Microsoft plans to invest $80B on AI-enabled data centers in fiscal 2025 (more)

  • United Airlines to bring Musk's Starlink on flights by spring (more)

  • Alcohol stocks drop after US surgeon general calls for cancer warnings (more)

  • Foxconn beats estimates with record fourth-quarter revenue on AI demand (more)

  • Nippon Steel slides after Biden blocks US Steel takeover (more)

  • Trump’s EV stance fuels sales rush for dealers (more)

IN PARTNERSHIP WITH THE RUNDOWN AI

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DEALFLOW

M+A | Investments

  • Paychex in talks to buy smaller rival Paycor (more)

  • Getty Images explores merger with rival Shutterstock (more)

VC

  • Infinant, a bank platform provider, raised $15M in Series A funding

  • StruxHub, a construction tech startup, closed its $4M Seed funding round (more)

CRYPTO

  • Do Kwon pleads not guilty to fraud following extradition to US (more)

  • Bitcoin's computing power may hit a major milestone long before next halving (more)

  • ETF companies are racing to launch the next ‘hot’ crypto fund (more)

BULLISH BITES

🇺🇸 Legacy: Jimmy Carter’s funeral begins by tracing 100 years from rural Georgia to the world stage.

🤖 This Year: The New York Times 2025 tech predictions and resolutions.

🏠 Shift: The fastest growing (and shrinking) U.S. counties.

📷 To-Do List: Time to finally organize your digital photos. First you have to find them.

DAILY SHARES

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