📈 Elon Cursed out

Henry Kissinger dies at age 100, Elon Musk tells ‘blackmailing’ advertisers where to go, Nvidia CEO: US chipmakers a decade away from China supply chain independence, nobody wants Treasury bonds, and Microsoft secures a board seat at OpenAI...

November 30, 2023

☕️ Good Morning.

The Fast Five → Henry Kissinger dies at age 100, Elon Musk curses out ‘blackmailing’ advertisers, Nvidia CEO: US chipmakers a decade away from China supply chain independence, nobody wants Treasury bonds, and Microsoft secures a board seat at OpenAI…

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Your 5-minute briefing for Thursday:

BEFORE THE OPEN

As of market close 11/29/2023.

MARKETS

  • US stocks mostly edged downwards but remain on track for their biggest monthly gain in 2023

  • The Nasdaq fell 0.16%, while the Dow gained 0.04%

  • European stocks mostly rose, led a 1.09% gain in Germany’s DAX, after Germany’s inflation eased more than forecast in November

EARNINGS

  • Salesforce shares jumped 9% after beating Q3 adjusted earnings expectations while meeting revenue estimates (Read More)

  • Snowflake shares surged 7% after reporting better-than-expected Q3 earnings and revenue (Read More)

  • Foot Locker shares rocketed 16% after beating Q3 adjusted earnings and revenue expectations and forecasting slightly better-than-expected full-year sales trend (Read More)

  • What we're watching this week:

    • Today: Kroger, UiPath, TD Bank, Dell

    • Friday: Bank of Montreal

  • Full calendar here

NEWS BRIEFING

Elementary economic forces — too much supply and not enough demand — have collided to create the worst stretch for U.S. government bonds since the Civil War.

Nvidia has been the subject of increasingly stricter export controls, limiting its ability to send its most advanced chips to China.

  • Elon Musk claims advertisers are trying to ‘blackmail’ him, says ‘Go f--- yourself’ (Read More)

  • Henry Kissinger died at age 100 (Read More)

  • OPEC+ mulls new oil production cuts amid Middle East conflict (Read More)

  • Bond market’s best month since 1980s sparks cross-asset rally (Read More)

  • Alibaba’s value dips below upstart PDD’s in landmark for China (Read More)

  • UAW launches organizing drive, targets Tesla and Toyota (Read More)

  • The $7T ETF boom gets blamed again for dumb stock moves (Read More)

  • Microsoft secures non-voting board seat at OpenAI (Read More)

  • Nikki Haley getting buzz, but faces tough math to beat Trump (Read More)

  • GM plans $10B stock buyback in bid to assuage investors (Read More)

  • FTC chair Lina Khan defends her track record when it comes to blocking mergers and doesn’t subscribe to Amazon (Read More)

  • Spirit Airlines offers buyouts to salaried employees to cut costs (Read More)

  • Disney names Jeremy Darroch, Morgan Stanley’s James Gorman to board (Read More)

CRYPTO

  • FTX won bankruptcy court approval to begin selling its $744M stake in digital trusts managed by crypto firm Grayscale Investments to repay creditors (Read More)

  • Cristiano Ronaldo is facing a $1B class action lawsuit for promoting Binance (Read More)

  • Binance’s top executive team will remain intact according to its new CEO (Read More)

BULLISH BITES

⏳ Timeless: The Charlie Munger principles to invest and live by.

🤷🏻‍♂️ Nowhere man: It looks like Mark Cuban doesn't want to be Mark Cuban anymore.

👌 Tech's New Normal: Microcuts over growth at all costs.

🙈 Hall Of Shame: The 10 most dubious people ever to make the 30 under 30 list.

FEATURED TRADES

PDD Holdings: Incorporation of Temu Into Our Valuation Leads to 82% Rise in Our Fair Value

PDD Holdings (Nasdaq: PDD) is a multinational commerce group that owns and operates a portfolio of businesses. PDD Holdings aims to bring more businesses and people into the digital economy so that local communities and small businesses can benefit from the increased productivity and new opportunities.

Ticker: PDD | Price: $141.73 | Price Target: $213 (+50%) | Timeframe: N/A

💻 Online Services | 📦 E-commerce | 🇨🇳 China | 📈 Bullish Idea

Read the full article here. Read time: 8 min

DAILY SHARES

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