📈 Fast-fashion IPO

Musk, Netanyahu visit amid antisemetism furor, fast-fashion giant Shein files for IPO, Reddit leads class of 2024 IPO candidates, Tesla and Toyota in automotive showdown, and Amazon eye’s more Miami office space as Bezos moves south...

November 28, 2023

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The Fast Five → Musk, Netanyahu visit amid antisemetism furor, fast-fashion giant Shein files for IPO, Reddit leads class of 2024 IPO candidates, Tesla and Toyota in automotive showdown, and Amazon eye’s more Miami office space as Bezos moves south…

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Your 5-minute briefing for Tuesday:

BEFORE THE OPEN

As of market close 11/27/2023.

MARKETS

  • US stocks slightly fell after four weeks of consecutive gains

  • The S&P led indices with a 0.2% decline

  • Treasuries extended their powerful November rally as traders weighed mixed US government debt sales amid bets that the Fed is done raising rates

  • Cyber Monday sees e-commerce stocks like Amazon and Shopify rise.

  • Affirm surges nearly 12% as shoppers opt for "buy now, pay later" options.

  • Weak spending data may signal Fed rate hikes affecting the broader economy.

  • Market influenced by 10-year Treasury yield, Fed commentary, consumer confidence, and inflation readings.

  • New home sales in October slower than expected but show improvement year-over-year.

EARNINGS

  • What we're watching this week:

    • Today: CrowdStrike, Workday, Intuit, Pinduoduo

    • Wednesday: Salesforce, Dollar Tree, Snowflake, Foot Locker

    • Thursday: Kroger, UiPath, TD Bank, Dell

    • Friday: Bank of Montreal

  • Full calendar here

NEWS BRIEFING

Musk also will meet representatives for families of hostages. Visit comes amid growing criticism of antisemitism on X.

Shein has tapped Goldman Sachs, JPMorgan and Morgan Stanley to be the lead underwriters on the offering. The retailer was last valued at $66 billion.

  • Investors see interest-rate cuts coming soon, recession or not (Read More)

  • Higher mortgage rates weigh on US new home sales in October (Read More)

  • Microsoft needs a better seat at OpenAI’s table (Read More)

  • The biggest delivery business in the US is no longer UPS or FedEx, it’s Amazon (Read More)

  • More US shoppers tack on buy now, pay later debt for Cyber Monday (Read More)

  • KKR sees private credit returns in Asia beating US and Europe (Read More)

  • How Shell, Chevron are delaying US efforts to refill its emergency oil reserve (Read More)

  • Reddit leads class of 2024 IPO candidates testing the water (Read More)

  • Tesla sues Swedish government after postal workers allegedly block license plate deliveries (Read More)

  • Tesla Vs. Toyota: Electric Dreams Clash With Hybrid Revival In Automotive Showdown (Read More)

  • US whiskey is ‘collateral damage’ in Trans-Atlantic trade fight (Read More)

  • Amazon is eyeing more Miami office space as Bezos moves south (Read More)

CRYPTO

  • Iran-backed militant groups from Hamas to Hezbollah now prefer fast-growing crypto network Tron over Bitcoin (Read More)

  • A US judge ruled that Binance Holdings’ co-founder Changpeng Zhao could not return to his home in the United Arab Emirates (Read More)

  • Singapore proposed regulations that further harden its stance against retail speculation in crypto, including barring individual investors from borrowing to trade (Read More)

  • Stablecoin issuer Circle Internet Financial entered into a pact with SBI Holdings to circulate USDC in Japan (Read More)

BULLISH BITES

🤖 Time will tell: Contrary to reports, OpenAI probably isn’t building humanity-threatening AI.

🚞 Bigger, better: The new Paris Métro is coming, and it’s a very big deal.

🙏 Merci: The work-from-home boom is thanks to millennials, not Gen Z or boomers.

🚗 Futuristic: Digital car keys are here… are we ready?

FEATURED TRADES

Event-driven pitch on $NR

Newpark Resources, Inc. provides products, rentals, and services primarily to the oil and natural gas exploration and production (E&P) industry. It operates through two segments, Fluids Systems and Industrial Solutions.

Ticker: NR | Price: $7.23 | Price Target: $10.90-$15.44 (+51%/+115%) | Timeframe: N/A

🏗️ Worksite Services | 🚨 Event Driven | 📈 Bullish Idea

DAILY SHARES

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