📈 Blinken stranded... literally

☕️ Good morning. Today: Jobless claims report @ 10:00 am ET

The Fast Five → Blinken stranded after Boeing 737 breaks down, Spirit Airlines shares sink 20% in second day of losses after blocked merger, EV owners unable to charge in freezing weather, Apple sales ban restarts today, and Samsung packs newest Galaxy smartphones with AI to beat Apple…

Your 5-minute briefing for Thursday, January 18:

BEFORE THE OPEN

PRE-MARKET

MARKETS

• US stocks fell due to stronger-than-expected US retail sales data hurting expectations of a Fed rate cut in March

• The Nasdaq led indices with a 0.59% decline

• Asian stocks fell, led by a plunge in Chinese stocks, as China’s Q4 GDP growth missed estimates

• European stocks fell as UK’s inflation unexpectedly accelerated to 4% YoY in December

EARNINGS

• Charles Schwab Q4 profit fell 47% due to bigger interest payments on its client deposits and debt hurting gains from a jump in asset management fees (link)

• Discover Financial shares fell ~10% after reporting a 62% fall in Q4 profit as the lender set aside funds to cover loans that could sour (link)

• What we're watching this week:

  • Today: TSMC, Truist

  • Friday: Ally Financial, State Street

• Full calendar here

NEWS BRIEFING

Blinken Stranded After Boeing 737 Breaks Down on Davos Trip

Spirit Airlines Shares Sink 20% in Second Day of Losses After Judge Blocks JetBlue Merger

• Markets expect rate cuts soon, but central banks say not so fast (link)

• Sheryl Sandberg to exit Meta’s board (link)

• Apple Watch sales ban restarts Today (link)

• Election-year messaging to drive consumer shifts (AX)

• Chinese lab mapped deadly Coronavirus two weeks before Beijing told the world (link)

• Chile taps global debt markets with resurgence of emerging bond sales (link)

• Samsung packs newest Galaxy S24 smartphones with AI functions to beat Apple (link)

• China goes all in on green industry to jolt ailing economy (link)

• US likely to levy higher penalties for export-control violations (link)

• A $300B pension fund leads big-money charge back to bonds (link)

• Samsung shows Smart Ring to rival Oura in renewed health tech push (link)

• Jamie Dimon praises Trump, warns MAGA criticism could hurt Biden (link)

• New CNN boss shakes up news operations, explores digital subscription model (link)

• Half of Japan firms look at restructuring to boost performance (link)

• 'Wake-up call' for EV owners — unable to charge in deep freeze (link)

• Harvard is trying to smooth things over with Silicon Valley (link)

• Apple to face US antitrust lawsuit as soon as March (link)

• Knicks owner James Dolan accused of sexual assault (link)

CRYPTO

• Coinbase argued that buying crypto on an exchange was more like collecting Beanie Babies than investing in a stock or bond (link)

• JPMorgan Chase CEO Jamie Dimon is done talking about bitcoin, referring to it as “the pet rock” (link)

You Can Sponsor this Newsletter details here.​

BULLISH BITES

📈 True/False: What’s the ‘January effect’ for stocks? Is it real?

📚 enTitled: Do you have ‘Bookshelf Wealth’?

💼 Now hiring: ‘New-collar’ workers, no degree necessary.

🌴 ‘California Forever’: The new California city backed by Silicon Valley billionaires will be about 18,600 acres (less than half the size of the purchased land).

FEATURED TRADES

Pershing Square: Attractive Buying Opportunity For The Long Term

Pershing Square Holdings, Ltd. is an investment holding company structured as a closed-end fund that manages the assets of its investment funds, primarily through the Pershing Square Capital Management, L.P. hedge fund, and is led by the well-known investor William Ackman. The company takes significant positions in a concentrated portfolio of publicly traded companies in North America with the goal of obtaining management influence.

Ticker: PSHZF | Price: $44.75 | Price Target: $67.62 (+51%) | Timeframe: N/A

🏦 Investment Holding Company | 📈 Bullish Idea

Read the full article here. Read time: 8 min

DAILY SHARES

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