📈 Bull market in sight

☕️ Good Morning.

The Fast Five → Gold and Bitcoin smash through key levels, bull market in view after S&P hits year-high, Spotify to cut 17% of its workforce, Birkenstock finally tops IPO price, and Alaska-Hawaiian billion-dollar merger faces a skeptical DOJ. Today’s briefing ahead, but first…

Here’s your 5-minute briefing for Tuesday:

BEFORE THE OPEN

MARKETS

• US stocks pulled back across the board after five straight winning weeks

• The Nasdaq led indices with a 0.84% decline

• Gold prices hit an all-time high before falling midday

• Bitcoin prices briefly surpassed $42,000 to reach a 20-month high

EARNINGS

• What we're watching this week:

  • Today: Nio, AutoZone, MongoDB, SentinelOne

  • Wednesday: C3.ai, GameStop, Chewy

  • Thursday: Broadcom, Lululemon, Dollar General, DocuSign

• Full calendar here

NEWS BRIEFING

Bitcoin and Gold are Smashing Through Key Levels — Here's What's Driving the Moves

Spotify to Cut 17% of its Workforce in Third Layoff Round This Year

• Bull market in view after S&P 500 hits fresh year-high (Read More)

• White House: U.S. could run out of funds for Ukraine aid if Congress doesn't act (Read More)

• Putin to visit Saudi Arabia, UAE in rare trip outside Russia (Read More)

• U.S. leads coalition to triple nuclear power by 2050 in effort to address climate change (Read More)

• Goods deflation is back. It could speed inflation's return to 2% (Read More)

• Asia stocks fall on cooling Fed bets (Read More)

• Record number of fossil fuel lobbyists attend COP28 climate talks in Dubai (Read More)

• Swiss bank hid $5.6 billion of Americans’ money from IRS (Read More)

• Alaska-Hawaiian billion-dollar merger faces a DOJ that has been skeptical of airline deals (Read More)

• McDonald's raises China bet, bucking Western firms' derisking trend (Read More)

• Birkenstock finally tops IPO price while other entrants struggle (Read More)

• AT&T chooses Ericsson for new U.S telecom network, will drop Nokia (Read More)

• Private credit is giving investors better returns than private equity (Read More)

• Southwest, pilots union near a preliminary labor deal (Read More)

• Virgin Galactic shares plunge after Branson rules out further investment (Read More)

• Rockstar Games publishes Grand Theft Auto trailer early after it was leaked on X (Read More)

• Gen Z women spend more on TikTok as app ‘drives consumption (Read More)

CRYPTO

• Introducing Most Influential 2023: CoinDesk chooses 50 people who defined the year in crypto (Read More)

• Crypto stocks surge as bitcoin hits fresh 2023 high (Read More)

• Michael Saylor's Bitcoin bet profit tops $2B (Read More)

• Tokens linked to Terra shoot 70% on Bitcoin linking, burn program (Read More)

BULLISH BITES

✅ Tip: Here’s how to invest in gold as it hits an all-time high.

🏆 Winning: The 5 best apps of the year, according to Apple.

🏁 Cutthroat: How Wall Street's notoriously competitive culture is making its youngest recruits feel lonelier than ever.

💃 Karma: A Harvard Professor prepares to teach a new subject: Taylor Swift.

FEATURED TRADES

Air Products and Chemicals: Reaffirming BUY following fiscal 4Q results

Air Products is a leading producer of industrial gases. It provides atmospheric and process gases and related equipment to refining and petrochemical, metals, electronics, and food and beverage companies. Air Products is also the world's leading supplier of liquefied natural gas process technology and equipment.

Ticker: APD | Price: $272.64 | Price Target: 360 (+32%) | Timeframe: N/A

🛢️ Oil/Gas | 🏗️ Equipment | 📈 Bullish Idea

Read the full article here. Read time: 5 min

DAILY SHARES

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