📈 New milestones

Apple’s market cap recrosses $3 trillion, India narrows gap with Hong Kong, job openings hit 2-year low in cooling welcomed by Fed, China's credit rating downgraded, and Bitcoin’s 6-day jump takes the token past $44,000...

December 06, 2023

☕️ Good Morning.

The Fast Five → Apple’s market cap recrosses $3 trillion, India narrows gap with Hong Kong, job openings hit 2-year low in cooling welcomed by Fed, China's credit rating downgraded, and Bitcoin’s 6-day jump takes the token past $44,000…

Here’s your 5-minute briefing for Wednesday:

BEFORE THE OPEN

As of market close 12/5/2023.

MARKETS

  • US stocks closed mixed as investors digested fresh jobs data

  • The Dow fell 0.2%, while the Nasdaq rose 0.31%

  • Asian stocks fell to three-week lows, while Hong Kong's Hang Seng slumped to a one-year trough

  • Bitcoin prices continued their rally to above $44,000

EARNINGS

  • Nio reported a quarterly loss and missed estimates for its revenue and EV deliveries outlook (Read More)

  • MongoDB shares declined ~5% despite beating analyst Q3 adjusted earnings, narrowing losses, and beating revenue estimates (Read More)

  • Gitlab shares rose 11% after beating Q3 earnings and revenue expectations thanks to posting its first adjusted operating profit (Read More)

  • What we're watching this week:

    • Today: C3.ai, GameStop, Chewy

    • Thursday: Broadcom, Lululemon, Dollar General, DocuSign

  • Full calendar here

NEWS BRIEFING

The milestone is a sign of Apple’s durability even as the company reduces its total share count through buybacks.

India added $1 trillion in market cap in less than three years. Key benchmarks are set for eighth-straight year of advances.

  • Job openings hit two-year low in cooling to be welcomed by Fed (Read More)

  • Supreme Court case on ‘income’ could have major implications for taxpayers (Read More)

  • Wall Street CEOs head to Washington with capital-rule concerns (Read More)

  • Harvard, Penn heads defend response to Israel-Gaza protests (Read More)

  • Bank of America CEO Moynihan says economy slowing but outlook still positive (Read More)

  • China's credit rating downgraded -- what it means for Tesla, Apple, Nike, LVMH (Read More)

  • Bitcoin’s ‘jet-fueled’ 16% six-day jump takes token past $44,000 (Read More)

  • Elon Musk’s xAI startup seeks to raise $1 billion in equity (Read More)

  • Wells Fargo CEO warns severance costs could hit $1B this quarter as more layoffs loom (Read More)

  • Amazon targets Shein with big fee cuts for cheap apparel sellers (Read More)

  • Spotify's former podcast boss calls out company for setting 'money on fire' with costly celeb deals (Read More)

  • The 23andMe data breach keeps spiraling (Read More)

  • A ‘thirsty’ generative AI boom poses a growing problem for Big Tech (Read More)

  • Blackpink renews group contracts with agency, YG shares spike 29% (Read More)

CRYPTO

  • El Salvador’s Bitcoin investments turned profitable after the recent rally in the cryptocurrency (Read More)

  • Enforcement action against crypto firms may have peaked after last month's $4.3B settlement with Binance (Read More)

BULLISH BITES

🤔 Did you know: The world depends on 60-year-old code no one knows anymore.

📈 Impressive: Hermes Birkin vs S&P 500 vs Gold (1984-2016).

🧳 “It”s here: How Louis Vuitton pulled off the impossible: creating an it-bag for men.

🤖 Future: Nvidia to build out AI ecosystem in tech-hungry Japan.

FEATURED TRADES

Amplitude: is it a buy?

Amplitude is a leading product analytics platform that provides in-depth insights into user behavior and product performance, primarily catering to digital companies. It operates on a 'Customer Expansion Flywheel' model to drive growth through data acquisition and insight generation.

Ticker: AMPL | Price: $11.47 | Price Target: $22 (92%) | Timeframe: 5 years

📊 Data Analysis | 💻 Enterprise SaaS | 📈 Bullish Idea

Read the full article here. Read time: 5 min

DAILY SHARES

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