📈 Rates staying high (for now)

☕️ Good morning.

The Fast Five → Fed sees rates staying high for some time- minutes show, TikTok eyes $17.5B shopping business on Amazon’s turf, Xerox cuts 15% of workforce, bankruptcies surged 18% in 2023, and Starbucks now accepts personal cups in drive-thru, mobile orders…

Here’s your 5-minute briefing for Thursday:

BEFORE THE OPEN

MARKETS

• US stocks fell for the second session of 2024, as investors appear to be selling last year’s tech winners

• The Nasdaq led indices with a 1.18% decline

• European stocks fell as investors wait for more definitive signs from central banks on rate policy

EARNINGS

• What we're watching this week:

  • Today: Walgreens Boots Alliance

  • Friday: Constellation Brands

• Full calendar here

NEWS BRIEFING

Fed Sees Rates Staying High for Some Time With Cuts Eyed in 2024, Minutes Show

TikTok Eyes $17.5 Billion Shopping Business on Amazon’s Turf

• What to know about list of unsealed names in Jeffrey Epstein case (link)

• US bankruptcies surged 18% in 2023 and seen rising again in 2024 (link)

• Stocks’ bad start to 2024 has forecasters on edge (link)

• US bankruptcies surged 18% in 2023 and seen rising again in 2024 (link)

• Fed minutes suggest rate hikes are over, but offer no timetables on cuts (link)

• Apple leads $383B tech rout in reversal from group’s 2023 rally (link)

• Labor board backs fired SpaceX employees (link)

• Zuckerberg sold nearly half a billion dollars of Meta stock in last two months (link)

• BP, Equinor tear up contract for big New York offshore wind project (link)

• Xerox to cut workforce 15% and overhaul operating model (link)

• TikTok eyes $17.5B shopping business on Amazon’s turf (link)

• Japan leads losses in Asia as investors assess Fed meeting minutes (link)

• Pop-Tarts’ devoured mascot may live to be eaten again (link)

• Intel appoints outsider Hotard to head crucial data center unit (link)

• Red Sea crisis boosts shipping costs, delays - and inflation worries (link)

• Disney wins backing of key investor in battle with Nelson Peltz (link)

• Starbucks now accepts personal cups for drive-thru and mobile orders (link)

• GM’s 2023 US vehicle sales were its best since 2019 (link)

• Amazon’s video ad push expected to generate an extra $5B in revenue (link)

• Trump asked US Supreme Court to overturn Colorado ballot ban (link)

CRYPTO

• Nigeria’s central bank released inaugural guidelines for banks opening cryptocurrency accounts but retained its ban on them holding or trading crypto on their own behalf (link)

• Crypto investment services provider Matrixport expects the SEC to reject all applications to list a Bitcoin ETF (link)

• Crypto asset manager Grayscale Investments is in talks with JPMorgan and Goldman Sachs regarding its Bitcoin ETF role (link)

BULLISH BITES

💸 Ouch: Best-selling personal finance author, Robert Kiyosaki, says he’s more than $1 billion in debt.

🛳 Amazing: New AI satellite imagery show the clearest picture yet of human activity at sea.

👩‍🦳 New norm? AI-created “virtual influencers” are stealing business from humans.

FEATURED TRADES

Enovix - ENVX

Enovix is a battery manufacturer specializing in advanced silicon anode lithium-ion batteries, with a focus on consumer electronics and potential expansion into electric vehicles. The company's patented technology promises higher energy density and safety, offering significant advantages over traditional lithium-ion batteries.

Ticker: ENVX | Price: $11.72 | Price Target: $30 (+156%) | Timeframe: N/A

🔋 Batteries | 📈 Bullish Idea

Read the full article here. Read time: 3 min

DAILY SHARES

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