BEFORE THE OPEN

MARKETS:

• S&P 500 rises in third consecutive winning week.

• S&P 500 up 0.13%, Dow up 0.01%, Nasdaq up 0.08%.

• All three major averages secure their third straight positive week.

• S&P 500 gains 2.2%, Nasdaq jumps 2.4%, Dow advances 1.9% for the week.

• November sees S&P 500 up 7.6%, Dow up 5.7%, Nasdaq surging 9.9%.

• Gap shares surge 30% on better-than-expected Q3 results; ChargePoint falls 35% after C-suite shake-up and lower Q3 revenue forecast.

EARNINGS

What we’re watching this week:

• Monday: Zoom (ZM)

• Tuesday: Baidu (BIDU)

  • Abercrombie & Fitch (ANF) - earnings expected: $1.18 per share (vs. 1 cent YoY), revenue: $980.9 million (+11.5% YoY)

  • Nvidia (NVDA) - earnings expected: $3.10 per share (vs. 58 cents YoY), revenue: $14.9 billion (+152.5% YoY)

• Thursday / Friday: Happy Thanksgiving

• Full earnings calendar here

NEWS BRIEFING

🚨 OpenAI Board Taps Former Twitch CEO Shear to Succeed Altman

OpenAI Turmoil: Sam Altman Suddenly Fired as CEO Friday — Microsoft, Investors Urged OpenAI Board to Swiftly Restore Altman [weekend timeline]

• OpenAI Saga:

  • 🚨 Microsoft to Appoint Sam Altman CEO of New In-House AI Team (more)

  • OpenAI shakeup has rocked Silicon Valley, leaving some techies concerned about future of AI (more)

  • OpenAI board urged by Microsoft, investors to restore Altman (more)

  • A timeline of Sam Altman’s firing from OpenAI — and the fallout (more)

  • Who’s on the OpenAI board — the group behind Altman’s ouster (more)

• The case for two Fed rate cuts in early 2024 is building (more)

• S&P 500 flirts with quickest comeback from correction territory in 10 years (more)

• Blackstone is frontrunner to win Signature Bank's $17 billion portfolio of property loans (more)

• Argentina elects 'shock therapy' libertarian Javier Milei as president (more)

  • Milei vows swift measures to pull Argentina out of crisis (more)

• Japan shares hit three-decade highs, other Asia stocks mixed (more)

• Cruise CEO Kyle Vogt resigns from GM-owned Robotaxi unit (more)

• Goldman Sachs taps new leadership for Japan as Mochida exits (more)

• Musk threatens ‘thermonuclear lawsuit’ against media watchdog, calls advertisers ‘oppressors’ (more)

• Alibaba tumbles after nixing cloud spinoff on US chip curbs (more)

  • Alibaba shock move casts fresh pall over China tech (more)

• Airlines brace for record Thanksgiving air travel (more)

• SpaceX’s Starship rocket reaches space but is intentionally destroyed mid-flight (more)

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DEALFLOW

• Bain Capital raises $7.1 billion for new Asia fund amid gloom (more)

• Apollo affiliate to work on Panasonic Auto Unit stake sale (more)

• Investcorp ends debut flat after $451M Abu Dhabi IPO (more)

• Volvo car drops after Li Shufu’s Geely sells $350M stake (more)

• Forward, a company using sensors, mobile, and AI to improve healthcare, raised $100M in growth funding (more)

• Halio, a company providing an electrochromic (smart) glass, raised $70M in funding (more)

• Nature’s Toolbox, Inc. (NTx), a life sciences company building next generation platforms to manufacture RNA and protein, raised $47.5M in Series B financing (more)

• Ingenious.Build, a technology company specializing in project management software for real estate development and construction raised $37M in Series A funding (more)

• Route 92 Medical, a medical technology company, raised over $31M in Series F funding (more)

• The Cumulus Coffee Company, a company advancing a solution for making premium cold brew at home, raised $20.3M in seed funding (more)

• Inclusively, a workforce inclusion platform, raised $13M in Series A funding (more)

• Workshop, a provider of an email platform for internal communications, raised $12M in Series A funding (more)

• Every.io, a provider of a back office stack for startups, raised $9.5M in Seed funding (more)

• Bazooka Tango, a game studio, raised $5M in funding (more)

• Union Labs, a team creating a zero-knowledge interoperability layer, raised $4M in Seed funding (more)

• AireXpert, a provider of aerospace and aviation collaboration and automation solutions, raised $3M in funding (more)

• Glencoco, a marketplace that connects companies with business development consultants to generate opportunities, raised $3M in funding (more)

• Leap, a provider of a virtual power plant (VPP) platform, raised additional equity financing of undisclosed amount (more)

• X-Bow Systems, a low-cost hypersonics provider, closed an interim funding (more)

• G Fuel, a company brand selling energy drinks, received an investment from Kingswood Capital Management and First Bev (more)

M & A:

• GTCR acquires Cloudbreak Health (more)

• WhiteHawk Energy buys Core Marcellus Shale Natural Gas Mineral and Royalty assets (more)

• Gemspring Capital purchases Fenceworks (more)

• Francisco Partners-backed SonicWall buys Solutions Granted (more)

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CRYPTO

• SEC defers decisions on two more spot Bitcoin ETF applications (more)

• Fidelity wants to create an Ether ETF, joining BlackRock in doubling down on Crypto (more)

• More Bitcoin ETF rejections 'quite likely,' BitGo's Belshe says (more)

• A physical Dogecoin could reach the moon in December (more)

BULLISH BITES

🎁 Holiday gift guide: 96 luxury gifts that delight all six senses

🥃 Cheers: Prohibition-era bottle of Macallan whisky sells for a record $2.7 million Sotheby's auction

💡 Get it: Want a brilliant side hustle or business idea? Stop waiting for a 'lightbulb moment,' experts say

🕺 Forever young: Dancing to Rihanna and matching tattoos. Senior living is taking over TikTok

🤝 Like a pro: Struggling to get a constant flow of customers? Let ClickFunnels do the heavy-lifting!

DAILY SHARES

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