📈 Bounceback year

Tech stocks wrapped one of their best years in two decades, Bitcoin starts the New Year rising past $45,000, Chief Justice Roberts says AI will transform the Courts, SpaceX sets new rocket record with 96 launches in 2023, and nearly half of all states will raise the minimum wage in 2024…

Author

Smart Owl
January 02, 2024

Happy New Year! 🎉

The Fast Five → Tech stocks wrapped one of their best years in two decades, Bitcoin starts the New Year rising past $45,000, Chief Justice Roberts says AI will transform the Courts, SpaceX sets new rocket record with 96 launches in 2023, and nearly half of all states will raise the minimum wage in 2024…

Here’s your 5-minute briefing for Tuesday:

BEFORE THE OPEN

As of market close 12/29/2023. Bitcoin as of 1/1/2024.

MARKETS

  • US stocks fell slightly on Friday, but the S&P closed out 2023 with a 24% gain as inflation slowed and the economy stayed strong

  • The Nasdaq led indices with a 0.56% loss

  • European stocks slightly rose on Friday with the regional Stoxx 600 finishing 2023 up 12.6%

  • Bitcoin ended the year up 164% as crypto markets had a strong 2023

EARNINGS

  • What we're watching this week:

    • Thursday: Walgreens Boots Alliance

    • Friday: Constellation Brands

  • Full calendar here

NEWS BRIEFING

The Nasdaq climbed 43% in 2023, one of its best performances in two decades. This year’s bounceback was led by huge gains in chipmaker Nvidia and Meta.

Roberts added ‘human judges will be around for a while.’

  • Optimism abounds on Wall Street this New Year (link)

  • Jane Street emerges as broker of choice for Bitcoin-ETF issuers (link)

  • PGA Tour and LIV Golf are working to extend merger deadline into 2024 (link)

  • Big tech braces for wave of antitrust rulings in 2024 (link)

  • Musk’s X value cut by another Fidelity writedown (link)

  • New FAFSA launches after long delay - but with ‘some minor issues’ (link)

  • US pushed ASML to block Chinese sales before deadline (link)

  • Saudi fund outpaced Singapore’s GIC with $31.6B splurge in 2023 (link)

  • Nearly half of all states will raise the minimum wage in 2024 (link)

  • Non-traded REITS ran off the rails in 2023 (link)

  • More EVs lose US tax credits, including Tesla, Nissan, and GM vehicles (link)

  • Disney lost copyright protection of its original versions of Mickey and Minnie Mouse (link)

  • Philippine stock exchange expects to double IPOs in 2024 (link)

  • India’s crude oil imports from Russia plunge on payment issues (link)

  • SpaceX sets new rocket record with 96 successful launches in 2023 (link)

  • Powerful earthquake hits Japan, causing tsunami and fire (link)

  • From blackout license plates to anti-book bans, new state laws for 2024 (link)

CRYPTO

  • Bitcoin starts the New Year rising past $45K, highest level since April 2022 (link)

  • SBF will not face a second trial on additional charges, including conspiracy to bribe foreign officials, after being convicted of a massive fraud last month (link)

  • Former Binance CEO Changpeng Zhao was blocked from traveling as he awaits sentencing for US bank law violations (link)

BULLISH BITES

🎢 Wild ride: What a long, strange year it’s been in enterprise tech news…

✈️ Jet set: 2024 is the ‘year of globetrotting,’ travel expert says. Here are some of the hot spots.

✅ Fresh start: The ultimate personal finance checklist to get ready for 2024.

❤️ Ala Verge: The apps, movies, games, and everything else we loved in 2023.

FEATURED TRADES

LITHIUM AMERS (ARGENTINA) CP - LAAC

Lithium Americas (Argentina) is part of the lithium mining industry, focusing on the extraction and production of lithium. It recently completed the separation of its US-based and Argentina-based operations and began trading with the ticker LAAC.

Ticker: LAAC | Price: $6.38 | Price Target: $12 (+88%) | Timeframe: 12 months

🇦🇷 Argentina | 🔋 Lithium | 📈 Bullish Idea

Read the full article here. Read time: 4 min

DAILY SHARES

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