📈 Watershed for crypto

SEC officially approves bitcoin ETFs, OpenAI launches a store for custom AI GPT’s, Saks takeover of Neiman Marcus rumors swirl, CES live updates, and Microsoft challenges Apple as world's most valuable company…

Author

Smart Owl
January 11, 2024

☕️ Good morning. Consumer Price Index (CPI) report today @ 8:30 am ET

The Fast Five → SEC officially approves bitcoin ETFs, OpenAI launches a store for custom AI GPT’s, Saks takeover of Neiman Marcus rumors swirl, CES live updates, and Microsoft challenges Apple as world's most valuable company…

Your 5-minute briefing for Thursday:

A Message From Bonner Wines

Unlock Access to The World's Most Remote Vineyards

Elevate your wine experience with grapes grown at up to 9,000 ft in the Andes Mountains. 

Wine Explorer Will Bonner imports these rare, small-batch treasures exclusively for the Bonner Private Wine Partnership. Rich in high-altitude flavors like blackberry, smoke, and plum.

Today you can be among the first Americans to reserve your very own supply of these small-batch, limited production wines.

Reserve rare wines from the most remote vineyards in the world...

*Please support my sponsors. It’s how I pay the bills to keep this newsletter free :)

BEFORE THE OPEN

As of market close 1/9/2024.

PRE-MARKET

MARKETS

  • Stocks closed higher: S&P 500 up 0.57%, Dow up 0.45%, Nasdaq up 0.75%.

  • Top gainers: Intuitive Surgical (10.3%), Lennar (3.5%).

  • Market calm ahead of expected Fed rate cuts.

  • SEC approved rule changes, opening door for BTC ETF’s.

  • Eyes on consumer price index report today (3.2% YoY in December).

  • Producer price index due Friday for Fed rate insights.

  • Major financial earnings on Friday: JPMorgan Chase, Bank of America, UnitedHealth, Delta Air Lines.

EARNINGS

  • What we're watching this week:

  • Today: Infosys

    • Friday: JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, United Health, BlackRock, Delta Air Lines

  • Full calendar here

HEADLINE ROUNDUP

Why a US bitcoin ETF is a game-changer for crypto. The decade-long journey to a US spot bitcoin ETF.

People who subscribe to OpenAI’s ChatGPT Plus service will be able to browse the new store for tailored chatbots that perform different tasks.

  • Thursday’s inflation report could challenge the market outlook for big Fed rate cuts (link)

  • CES live updates (link)

  • Bond sales reach $118B in a record week for Europe (link)

  • Neiman Marcus CEO says there’s ‘no need’ to sell the business as Saks takeover rumors swirl (link)

  • Swiss national bank rules out payouts after losing $3.5B last year (link)

  • Worst Brazil IPO drought in decades is set to end, bankers say (link)

  • Amazon lays off more than 500 employees in its Twitch unit (link)

  • Truck engine maker Cummins agrees to record-setting $1.65B emissions settlement (link)

  • Global electric car sales rose 31% in 2023 (link)

  • Volkswagen still has flexibility on EV push, CFO Antlitz says (link)

  • A new Biden administration rule may change how certain industries classify workers as “independent contractors” (link)

  • White House throws its support behind seizing frozen Russian assets (link)

  • X introduces shows with Don Lemon, Tulsi Gabbard, Jim Rome amid video push (link)

  • US urges China to not interfere in Taiwan elections (link)

  • S&P sees Italy banks outperforming (link)

  • Avalanche in Tahoe-area ski resort leaves one dead (link)

  • Microsoft challenges Apple as world's most valuable company (link)

CRYPTO

  • Why are Bitcoin ETFs such a big deal? Gold provides a $100 billion answer (link)

  • Ripple to buy back $285 million of its shares, valuing company at $11B (link)

  • India removed crypto exchanges including Binance, Bitfinex, HTX, and Kucoin from the local app store (link)

You Can Sponsor this Newsletter details here.​

BULLISH BITES

🤫 January’s secret: It’s the best month — once you see why, you may never want it to end.

📱 Nerd out: 18 gadgets from CES 2024 you can buy right now.

💰 2023 VC: Explained in 5 charts.

🐣 Forever young: Millionaire launches anti-aging 'basics' for $333 a month.

FEATURED TRADES

Applovin, deep value adtech to double again?

Applovin is an adtech software company focused on mobile gaming, operating in a $90 billion market predicted to grow at 7% annually. Its software includes a mediation platform called Max, and an app discovery platform powered by Axon AI, leveraging data to optimize advertising and app promotion within the mobile gaming space.

Ticker: APP | Price: $40.53 | Price Target: $82 (+102%) | Timeframe: N/A

📢 Adtech | 📈 Bullish Idea

Read the full article here. Read time: 10 min

DAILY SHARES

Keep the curation going! Buy the team a coffee ☕️