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Good morning.
Somehow, after a wild week last week, markets are… “shakily optimistic” today.
Futures are higher.
And we’re avoiding a recession, according to Bessent.
But Novo Nordisk just plummeted 9% this morning.
Let’s get into it.
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📰 Market Headlines
Markets closed mixed Friday after a wild week that saw the S&P 500 and Nasdaq log weekly losses despite strong earnings from Nvidia and a better-than-expected September jobs report. Futures are up pre-market so far today.
Last week, the Dow slipped 0.8%, the S&P 500 fell 1.5%, and the Nasdaq tumbled 2.2%.
Today, S&P 500 futures are up 0.7%, Nasdaq-100 futures are up 1%, and futures on the Dow Jones are up or 0.4%.
Don’t forget that this is a short trading week because of Thanksgiving (markets are closed Thursday and shut down early on Friday).
This shortened Thanksgiving week packs a full slate of data into just two sessions. Tuesday brings September retail sales (delayed from the shutdown), producer prices, and consumer confidence. Wednesday delivers Q3 GDP revision, Core PCE inflation, durable goods orders, and jobless claims before the Thursday holiday.
December rate cut odds rocketed to 75% from 40% after NY Fed President John Williams said he sees "room for a further adjustment in the near term" to bring policy closer to neutral. The shift came despite the September jobs report showing 119,000 jobs added (beating estimates), but unemployment ticking up to 4.4% and downward revisions to summer payrolls.
Novo Nordisk (NVO) shares are down 9% pre-market this morning after the company’s trial for treating Alzheimer’s disease with semaglutide failed. AltIndex users got the alert early this morning. The company had called the trial a “lottery ticket.” NVO hasn’t traded this low in four years.
But Eli Lilly is now the first drugmaker to reach a $1 trillion market cap after its valuation soared this year on weight-loss drug demand.
Bitcoin crashed toward $80,000 last week, heading for its worst month since the 2022 crypto collapse. The cryptocurrency fell roughly 12% for the week and has plunged from record highs hit just over a month ago. Crypto funds saw a $2.2 billion weekly outflow, the second-largest on record, while Strategy stock dropped 4% as one of bitcoin's biggest corporate holders.
Interesting: The Big Short investor Michael Burry is launching a paid $380/year Substack blog after 1) shorting the AI industry, 2) making Palantir’s CEO Alex Karp super mad on live TV, then 3) closing down his hedge fund. Some traders are excited to have access to his thoughts on the market; others are upset that he’s charging people money for access even though he’s quite wealthy.
Tech stocks still attracted $4.4 billion in weekly inflows despite the selloff, keeping the sector on track for a record $75 billion inflow in 2025, according to BofA. The resilience suggests investors view the pullback as a buying opportunity rather than the start of a sustained downturn.
Retail earnings will gauge consumer health ahead of Black Friday. Alibaba, Dell, Best Buy, and Kohl's report this week. Walmart continues dominating Target by delivering both value and convenience through supply chain investments, enabling sub-30-minute deliveries from 4,700 stores.
😱 Fear & Greed Index
🤖 AI/Future/Tech News
Figure AI faces a whistleblower lawsuit from its former safety chief, who warned the company's humanoid robots could fracture skulls during malfunctions.
Google rejected viral claims that Gmail uses your email content to train AI models after social posts sparked privacy panic.
🚨 Trending on Reddit
Palantir chatter spiked as users debated the CEO’s share sales. Some fear a dip, others still call it bullish. Sentiment leans positive.
Invesco QQQ threads lit up with traders swapping 0DTE option stories. Big wins, bigger losses, and plenty of memes. Mood: mixed.
🤫 Insider Trading
🚗 Alternative Investment: Classic Cars
Classic car prices accelerated as collectors chased limited vintage models like the 1967 Chevrolet Camaro and 1959 Cadillac Eldorado. Supply kept shrinking, with fewer well-preserved examples surviving rust and wear, pushing values higher at auctions such as Barrett-Jackson.
Younger buyers entered the market, drawn by nostalgia and the appeal of tangible assets. With production long halted and demand climbing, classic cars turned from weekend toys into serious portfolio diversifiers.
📊 IPOs and Earnings
🎙 What Do You Think?
Will markets close higher this week than last? Or lower?
🎤️ What you said last time
“Just to show that Feds is independent and will not yield to pressure from Trump administration, they will hold the rate steady in December!”
🎪Crowdfunding Showcase
Artisan Tropic is the family-owned snack brand behind the #1 selling plantain and cassava chips at Whole Foods for the past four years. The company bootstrapped to >$52 million in cumulative revenue, reaching 6,000+ stores while maintaining 40%+ gross margins.
Rooted in its Colombian heritage, the brand's mission supports regenerative agriculture and offers clean-label, seed oil-free snacks. The company is raising growth capital to fund a strategic rebrand and accelerate retail expansion. Just $5,000 remains in its early-bird allocation.
🧠 The Missing (Market) Links
Active trader Congresswoman Marjorie Taylor Greene is resigning from office after a fallout with President Trump.
American students are threatening to not recognize their student loans if the Department of Education won’t recognize their degrees.
The US government’s Department of Government Efficiency (DOGE) doesn’t exist anymore, apparently.
College grads are facing one of the most difficult job markets in a decade, according to CNBC.
US utility bills spiked 12% this year, with AI data centers driving the surge, and nearly 6 million households landed on the brink of collections.
The 7 deadly signs of recession flashed as homebuilders, restaurants, and freight companies cut hiring while unemployment crept higher.
📜 Quote of the Day
I’m not better than the next trader, just quicker at admitting my mistakes and moving on to the next opportunity.”
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Cheers,
Brandon & Blake of Invested Inc
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