📈 Shoppers break record

Black Friday shoppers spent a record $9.8 billion online, Musk warns ‘something scared’ OpenAi chief scientist, US stocks cap off best four-week stretch in a year, Meta complaint says underage users were an ‘open secret’, and poll shows Americans think the American dream is dying...

November 27, 2023

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☕️ Good Morning.

The Fast Five → Black Friday shoppers spent a record $9.8 billion online, Musk warns ‘something scared’ OpenAi chief scientist, US stocks cap off best four-week stretch in a year, Meta complaint says underage users were an ‘open secret’, and poll shows Americans think the American dream is dying…

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Your 5-minute briefing for Monday:

BEFORE THE OPEN

As of market close 11/24/2023. Bitcoin as of 11/26/2023

MARKETS:

  • US stocks mostly edged higher as Black Friday kicked off holiday shopping season

  • The Dow rose 0.33%, while the Nasdaq fell 0.06%

  • Investors will look to October’s PCE data on Thursday for clues to the Fed’s next interest rate decision

EARNINGS

  • What we're watching this week:

    • Tuesday: 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

  • Black Friday shoppers spent a record $9.8B in US online sales, up 7.5% from last year (Read More)

  • U.S. stocks cap off best four-week stretch in a year with more gains during holiday-shortened session (Read More)

  • NFL Black Friday game is the latest warning sign for traditional TV (Read More)

  • UBS Asset Management upgrades big infrastructure investments as deals slow (Read More)

  • Investors are hungry for risk, and holding record cash sums (Read More)

  • ‘AI blowback’ angst grips ESG fund managers who bet big on tech (Read More)

  • Elon Musk Warns ‘Something Scared’ OpenAI Chief Scientist Ilya Sutskever as CEO Sam Altman’s Return Fails to Answer Key Questions (Read More)

  • Airlines brace for busy airports as Thanksgiving holiday ends (Read More)

  • At Meta, millions of underage users were an 'open secret,' states say (Read More)

  • ICBC’s entree onto Wall Street looked like a bargain - until hacks crippled its US unit (Read More)

  • Hot healthcare hiring bolsters cooling US labor market (Read More)

  • Americans think the American dream is dying (Read More)

CRYPTO

  • Binance saw $956M of outflows in the 24 hours after CEO Changpeng Zhao stepped down and pleaded guilty (Read More)

  • Ex-Binance CEO Zhao urges judge to allow him to leave the US before sentencing (Read More)

  • Montenegro court approved the extradition of Terra founder Do Kwon to either South Korea or the US (Read More)

BULLISH BITES

⚽️ Going, going… Lionel Messi's 2022 World Cup Shirts could top $10 million at Sotheby's auction.

🎵 No can do: Hall is suing Oates over plan to sell stake in joint venture.

🎓 Admission: How a billionaire banker is helping elite US colleges recruit new talent aimed at underserved areas.

😰 Hard to handle: If I’m being honest, I didn’t have what it takes to be a founder.

FEATURED TRADES

PURITY IN THE CROWN JEWEL OF BIOPROCESSING

Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The Biotechnology segments offers bioprocess technologies, consumables, and services; lab filtration, separation, and purification; lab-scale protein purification and analytical tools; reagents, membranes and services; and healthcare filtration solutions.

Ticker: DHR | Price: $221.41 | Price Target: N/A | Timeframe: N/A

🧪 Life Sciences | 🔄 Cyclical | 📈 Bullish Idea

Read the full article here. Read time: 13 min

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