The rally begins

Big Tech CEOs applaud Trump's win, Fed expected to cut interest rates today, ‘America First’ sweeps Wall St with echoes of 2016 playbook, Xi congratulates Trump urging stable US-China ties, and DOJ set to drop cases against Trump before inauguration...

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Market Briefing
November 07, 2024

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Good morning.

The Fast Five → Big Tech CEOs applaud Trump's win, Fed expected to cut interest rates today, ‘America First’ sweeps Wall St with echoes of 2016 playbook, Xi congratulates Trump urging stable US-China ties, and DOJ set to drop cases against Trump before inauguration…

Calendar: (all times ET) - Full calendar here

  • Today:
    Initial jobless claims, 8:30a
    Fed interest rate decision, 2:00p
    Powell press conference, 2:30p

  • Tomorrow:
    Consumer sentiment, 10:00a

Your 5-minute briefing for Thursday, November 7:

BEFORE THE OPEN

As of market close 11/6/2024.

Pre-Market:

US Investor % Bullish Sentiment:
↑ 39.49% for Week of October 31 2024

Last week: 37.70%. Updates every Friday.

Market Wrap:

  • Futures steady post-Trump rally; Dow, S&P 500, Nasdaq hit records

  • Post-election surge: Dow +1,500 points, Russell 2000 +5%

  • Bitcoin, USD, banks rise; solar and international funds lag

  • Fed rate decision today; 100% chance of cut per CME

EARNINGS

Here’s what we’re watching this week.

See full calendar here.

HEADLINES

Jeff Bezos, Sam Altman, Tim Cook and other tech leaders congratulate Trump on election win.

Trump’s return to the White House is adding fresh ammo to a decade-long investment strategy that echoes his “Make America Great Again” mantra in a replay of the 2016 playbook.

  • The Trump rally begins (more)

  • Fed expected to cut interest rates again today (more)

  • Stocks surge to record highs as Trump returns to presidency (more)

  • Xi congratulates Trump on victory, urges stable US-China ties (more)

  • Wall St’s Trump gamble paying off as ETF bets vindicated (more)

  • 10-yr Treasury posts huge leap to 4.46% on Trump win (more)

  • Oil climbs after election jolt as traders weigh impact (more)

  • Firm dollar keeps peers on back foot ahead of Fed decisions (more)

  • China stocks fall after Trump's tariff promises loom (more)

  • Trump-Musk relationship puts spotlight on global EV industry (more)

  • Goldman, Citi soar with Trump poised to deliver deregulation (more)

  • DOJ set to drop Federal cases against Trump before inauguration (more)

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DEALFLOW

M+A | Investments

  • Blackstone strikes $4 Billion deal for shopping-center Landlord (more)

  • Advent, Apollo among potential bidders for Reckitt's homecare assets (more)

  • The Bank of New York Mellon Corp., a global financial services company, acquired Archer Holdco, LLC, a tech-enabled service provider of managed account solutions to the wealth management industry (more)

  • QSR Automations, a company providing restaurant technology solutions, received a majority investment from Battery Ventures (more)

VC

  • Research Grid, an AI startup that helps medical research institutions automate back-office admin for clinical trials, raised $6.5M in funding (more)

CRYPTO

  • Polymarket’s French whale scores a $48 million Trumpjackpot (more)

  • ‘A New American Renaissance:’ Crypto celebrates Trump’s return (more)

BULLISH BITES

🇺🇸 2024 Election: Historic firsts you might have missed.

🙌 The other election night winner: Perplexity

☕️ Keep It Simple: New Starbucks CEO scouted cafes before taking over — here’s what he’s tackling first…

🤖 Redirection: Did OpenAI just spend more than $10 million on a URL?

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