📈 Rest in Peace, Charlie Munger

☕️ Good Morning.

The Fast Five → Investing genius, Charlie Munger, dies at age 99, Biden tells corporations to ‘stop price gouging’, Amazon announces Q, an AI chatbot for businesses, Harvard/Penn/MIT presidents called before Congress, and Bill Ackman bets Fed will cut rates in Q1…

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BEFORE THE OPEN

MARKETS:

• Stock futures rise with optimism about Fed halting rate hikes.

• Dow futures up 34 points (0.1%), S&P 500 and Nasdaq 100 futures also gain 0.1%.

• Las Vegas Sands shares fall 4% as largest shareholder plans $2 billion share sale; NetApp surges 11% on strong earnings.

• Regular trading sees modest gains: S&P 500 up 0.1%, Nasdaq Composite adds 0.3%, Dow inches 0.2% higher.

• Fed Governor Waller's comments boost confidence in inflation control.

• Fed funds futures hint at possible rate cut next spring.

• Wednesday highlights: Q3 GDP data, October wholesale inventories; earnings from Hormel Foods, Dollar Tree, and Salesforce.

EARNINGS

• Intuit reported better-than-expected Q1 earnings and revenue but missed estimates for the current quarter (Read More)

• PDD Holdings shares rocketed 18% after beating Q3 earnings and reporting a stronger-than-anticipated doubling in revenue thanks to its discount platform Temu (Read More)

• What we're watching this week:

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

• Thursday: Kroger, UiPath, TD Bank, Dell

• Friday: Bank of Montreal

• Full calendar here

NEWS BRIEFING

Charlie Munger, Investing Genius and Warren Buffett's Right-Hand Man, Dies at Age 99

‘Stop the Price Gouging’: Biden Hits Corporations Over High Consumer Costs

• Musk’s Cybertruck is already a production nightmare for Tesla (Read More)

• Shein’s IPO raises fresh questions on alleged forced labor in its supply chain (Read More)

• Disney’s Bob Iger plays down asset sales, vows to build modern version of company (Read More)

• Harvard, Penn, MIT presidents called before Congress on antisemitism (Read More)

• Amazon announces Q, an AI chatbot for businesses (Read More)

• Fed’s Waller, Bowman opens door to another interest rate pause in December (Read More)

• Goldman says sharp drop in volatility is opportunity for hedging (Read More)

• OpenAI rival Hugging Face says it’s seeing more client interest after Sam Altman fiasco (Read More)

• Russian court extends detention of WSJ reporter (Read More)

• Thanksgiving TV broadcasts drew record-breaking ratings, even as industry grapples with cord-cutting (Read More)

• 2024 election to boost dollar on trade-war tension, JPMorgan says (Read More)

• George Santos faces third House expulsion vote (Read More)

• Bill Ackman bets Fed will cut interest rates as soon as first quarter (Read More)

CRYPTO

• Binance founder and former CEO Changpeng Zhao stepped down as chairman of Binance.US’s board (Read More)

• Coinbase CEO says that Binance settlement will turn the page on crypto’s “bad actors” (Read More)

BULLISH BITES

🩸 New blood: 30 under 30 venture capital 2024: young investors backing next-gen startups.

🔥 ’Bout time: Why 2024 could be a hot year for startup founders.

🙏 Breakthrough: The CRISPR era is here.

FEATURED TRADES

Israeli Stock monday.com on the Rise: Investing Opportunity Despite War?

monday.com Ltd. is an enterprise SaaS company that provides Work OS, a cloud-based visual work operating system that consists of modular building blocks used and assembled to create software applications and work management tools.

Ticker: MNDY | Price: $181 | Price Target: N/A | Timeframe: double-digit annual returns

💻 Enterprise SaaS | 🇮🇱 Israel | 📈 Bullish Idea

DAILY SHARES

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