- Market Briefing
- Posts
- Powell shocks markets
Powell shocks markets
Powell shocks markets after interest rate cut, Trump breaks with Johnson on funding, Trudeau’s crisis rips up trade fight playbook, DOJ files complaint against CVS for unlawful opioid prescriptions, and you can now call 1-800-CHATGPT...
Market Briefing
December 19, 2024
Good morning.
The Fast Five → Powell shocks markets after interest rate cut, Trump opposes funding bill, Trudeau’s crisis rips up trade fight playbook, DOJ files complaint against CVS for unlawful opioid prescriptions, and you can now call 1-800-CHATGPT …
Man Who Called 2008 Crash: “The real bloodbath hasn’t even started.”
Calendar: (all times ET) - Full calendar
|
|
Your 5-minute briefing for Thursday, December 19:
BEFORE THE OPEN
As of market close 12/18/2024.
Pre-Market:
 |  |
US Investor % Bullish Sentiment:
↓ 43.33% for Week of December 12 2024
Previous week: 48.33%. Updates every Friday.
Market Wrap:
Dow sank 1,123 points (-2.58%) to 42,326, marking 10 straight losses.
S&P fell 2.95%; Nasdaq lost 3.56%, with late-session selling.
Fed cut rates by 0.25% but forecasted only two cuts in 2025, fueling a selloff.
Powell signaled caution: strong inflation and labor justify fewer cuts.
Treasury yields spiked; 10-year yield hit 4.5%, pressuring stocks.
Dow has lost 6% since Dec. 4 record close above 45,000.
Early declines driven by tech rotation; Wednesday’s losses hit all sectors.
EARNINGS
Here’s what we’re watching this week: Full Calendar »
Today: Conagra (CAG), Darden Restaurants (DRI)
FedEx (FDX) - earnings of $3.95 per share (-1% YoY) on $22.1B revenue (-0.2% YoY)
Nike (NKE) - earnings of $.64 per share (-37.9% YoY) on $12.2B revenue (-9.1% YoY)
HEADLINES
Elon Musk joined a wave of right-wing fury against a bill to keep the government open. Now, the president-elect says he wants big changes, too, before this weekend's deadline.
Transcript: Fed Chief Jerome Powell’s postmeeting press conference
Dollar index hits two-year high after Fed delivers rate cut (more)
Gold price rebounds from one-month low amid risk-off impulse (more)
Oil settles up after US crude stocks fall (more)
DOJ files complaint against CVS for unlawful sale of prescription opioids (more)
Biden ratchets up AI chip war with China (more)
Trudeau’s political crisis rips up playbook for trade fight with Trump (more)
EPA grants California permission to ban new gas car sales by 2035 (more)
Micron shares plunge on weak second-quarter guidance (more)
Apple halts effort to build iPhone hardware subscription service (more)
OpenAI makes ChatGPT available for phone calls and texts (more)
Dealmakers eye $4 trillion-plus M&A haul in 2025 (more)
TOGETHER WITH CHOOSE YOUR HORIZON
What Two $100M+ Exits Taught Us
"Find underserved audiences and design breakthrough solutions". Choose Your Horizon (CYH) provides at-home, expert-guided treatments including ketamine therapy, naltrexone for alcohol use disorder, and a guided sexual trauma recovery program. Fundraising Now.
M+A | Investments
Novo Holdings closes $16.5B buyout of contract manufacturer Catalent (more)
Dutch dairy collective FrieslandCampina to merge with Belgian Milcobel (more)
Clikr, a company developing AI-powered tools for brands, received an investment from NEC X (more)
Biomedicines, a clinical-stage company specializing in generative biology, received an investment from Samsung (more)
VC
ZENRG Services, a provider of emission reduction services for energy industry operations, raised an undisclosed amount in Series A funding (more)
SiteOne Therapeutics, a biopharma company developing selective ion channel modulators for the treatment of pain raised $100M in Series C funding (more)
Basis, a startup that automates accounting tasks for accounting firms, raised $34M in Series A funding (more)
Salt AI, an AI workflow orchestration company, raised $3M in Seed funding (more)
CRYPTO
BULLISH BITES
🚨 Investor Alert: This crisis could be worse than 2008 *
💸 Taking Profits: Here’s what to know before ‘taking some risk off the table’ with bitcoin profits, advisor says.
🐣 Backing: Menlo Ventures and Anthropic have picked the first 18 startups for their $100M fund.
☎️ For A Good Time: You can now call 1-800-CHATGPT.
🏠 Extra Space: Americans have more extra bedrooms than ever before.
DAILY SHARES
IN THIS VIDEO I TRY TO READ A 1,500 PAGE OMNIBUS BILL IN 6 HOURS BEFORE GOVERNMENT SHUTS DOWN
— Autism Capital 🧩 (@AutismCapital)
11:37 PM • Dec 18, 2024
What did you think about today's briefing? |
Have a comment or suggestion?
💌 Send us a message
*from our sponsor
Disclaimer: Market Briefing© is a news publisher. All statements and expressions herein are the sole opinions of the authors or paid advertisers. The information, tools, and material presented are provided for informational purposes only, are not financial advice, and are not to be used or considered as an offer to buy or sell securities; and the publisher does not guarantee their accuracy or reliability. Please conduct your own research and consult an independent financial adviser before making any investments. Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein. Assets mentioned may be owned by members of the Market Briefing team.
Reply