New 2025 projection

S&P 2025 projections have a new high-water mark, UnitedHealth plunges as company faces new scrutiny, US importers set to accelerate shipments to record levels, Amazon is bringing QuickBooks to its millions of third-party sellers, and OpenAI releases anticipated text-to-video model Sora...

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Market Briefing
December 10, 2024

Good morning.

The Fast Five → S&P 2025 projections have a new high-water mark, UnitedHealth plunges as company faces new scrutiny, US importers set to accelerate shipments to record levels, Amazon is bringing QuickBooks to its millions of third-party sellers, and OpenAI releases anticipated text-to-video model Sora…

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Calendar: (all times ET) - Full calendar

  • Today:
    Nonfarm productivity, 8:30 am
    Unit labor costs, 8:30 am

  • Tomorrow:
    CPI report, 8:30 am

Your 5-minute briefing for Tuesday, December 10:

BEFORE THE OPEN

As of market close 12/9/2024.

Pre-Market:

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

Previous week: 41.29%. Updates every Friday.

Market Wrap:

  • Futures near flat Monday; S&P, Nasdaq -0.6% from records as Nvidia probes weigh on tech.

  • Oracle shares dropped 7% post-earnings miss.

  • CPI report tomorrow could shape Fed rate moves.

  • NFIB small business survey out this morning.

EARNINGS

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

  • Today: GameStop (GME)

  • Wednesday:

    • Adobe (ADBE) - earnings of $4.67 per share (+9.4% YoY) on $5.5B revenue (+9.8% YoY)

  • Thursday: Costco (COST)

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

HEADLINES

Oppenheimer chief investment strategist John Stoltzfus initiated a year-end 2025 S&P 500 target of 7,100 in a note to clients on Sunday night.

After dayslong manhunt, police find suspect eating in a McDonald’s while carrying a manifesto decrying the health-care industry’s emphasis on profits.

  • Wall Street ends lower as tech stocks decline (more)

  • Wholesale inventories rebound marginally in October (more)

  • Dollar edges higher before CPI; Aussie steady as RBA decision looms (more)

  • Gold hits 2-week high on China buying, Fed rate cut expectations (more)

  • US importers to accelerate shipments to record levels on tariff threats (more)

  • Nvidia shares fall after China opens investigation over possible violations (more)

  • Oracle shares slide on disappointing forecast (more)

  • OpenAI releases Sora, the anticipated text-to-video model (more)

  • Amazon is bringing Intuit QuickBooks to its millions of third-party sellers (more)

  • Tesla aims to launch robotaxi with teleoperator backup (more)

  • ByteDance, TikTok seek temporary halt to ban pending Supreme Court review (more)

FROM WEISS RATINGS

Nvidia’s Quiet $1 Trillion Pivot

Nvidia and its powerful chips are the face of artificial intelligence.

But while everyone’s patting Nvidia on the back for record earnings…

It’s quietly moved on to the next phase of AI it plans to conquer…

Nvidia recently unveiled essential blueprints for this crucial $1 trillion pivot.

Click here now and find out about the three companies Nvidia absolutely needs to succeed in this vital new AI frontier.

DEALFLOW

M+A | Investments

  • Cadbury-owner Mondelez exploring Hershey acquisition (more)

  • Gallagher agrees to buy AssuredPartners in $13 billion deal (more)

  • Enterprise Bancorp to merge into regional lending peer Independent Bank in $562 mln deal (more)

VC

  • Spiltero, a fintech company for homeowners, received $350M in capital commitment from Blue Owl Managed Funds (more)

  • Element451, an AI-first student engagement platform, received a $175M investment from PSG (more)

  • Evidently, an AI platform for healthcare workflows, raised $15M in Series A funding (more)

  • Provarity, a presales platform that delivers real-time data and actionable insights to optimize sales engineering (SE) performance, raised $7M (more)

  • Nectir, a startup giving students a personalized AI learning partner, raised $6.3M in Seed funding (more)

  • CAT Labs, a company building tools to fight abuse of emerging technologies like Crypto and AI, raised $5.4M in Seed funding (more)

  • LIVV Audio, a company providing headphones, raised $1M in Seed funding (more)

  • Prezent, an enterprise business storytelling platform, raised an undisclosed amount in funding (more)

CRYPTO

  • Bitcoin retreats from $100,000 as falling Nvidia shares weigh on risk assets (more)

  • MicroStrategy makes another large Bitcoin purchase, buying 21,550 BTC for $2.1B (more)

  • Firms ride Bitcoin wave to raise billions from convertible debt (more)

BULLISH BITES

🏓 Ping Pong: Nvidia becoming pawn in US-China tensions.

💰 Empire: Rupert Murdoch fails in bid to change family trust.

🚙  Problems: Consumer Reports has ranked Rivian dead last in terms of automaker reliability.

🎄  Holiday Fashion: The office holiday party is back. Now… what to wear?

DAILY SHARES

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