โœˆ๏ธ Boeing fired more people

๐Ÿš— While Porsche wrote down its VW holdings by $21 billion

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๐Ÿ“ฐ Market Headlines

Markets lost ground last week, with the Dow logging its seventh straight losing session ahead of this weekโ€™s Fed meeting.

  • The S&P 500 fell 0.6%, the Dow dropped 1.8% for the week, and the Nasdaq gained 0.3%.

  • Import prices rose just 0.1%, suggesting inflation pressures may be subsiding.

  • Bitcoin surged well above $100k, hitting $106,362 Sunday night.

Nvidia stock tumbled 5.75% to its lowest close since October as customers look to develop in-house AI chips.

ABC News agreed to pay Trump $15 million to settle a defamation lawsuit over false statements made during a broadcast.

The Trump administration reportedly considered privatizing the US Postal Service.

๐Ÿ“ˆ Investment of the Week

๐Ÿง  Make yourself heard

It was recently reported that Elon Musk, the richest human in the known universe, is now worth over $400 billion.

How do you feel about Luigi Mangione?

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 ๐Ÿ“Š Ideas, trends, and analysis

Itโ€™s been a no-good very bad year for Volkswagen

  • US manufacturing construction hit record highs in 2024, driven by CHIPS Act and IRA investments.

  • China's new home prices fell 0.1% in November, the slowest pace in 17 months.

๐Ÿ˜ฑ Fear and Greed Index

๐Ÿ“Š Winners and losers

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Earnings, upgrades, and acquisitions

Market movers

  • Porsche SE warned it may write down its Volkswagen stake by up to $21 billion because of VW's cost crisis and union conflicts.

  • The Senate announced plans to vote on a bill increasing Social Security benefits for roughly 2.8 million pensioners.

  • Novo Holdings' $16.5 billion Catalent acquisition cleared regulatory hurdles, boosting Wegovy's production capacity.

  • Boeing announced 122 new layoffs in South Carolina and California, adding to nearly 5,000 cuts across 11 states.

  • A US appeals court rejected TikTok's emergency request to block a law that could ban the app.

Recommended Newsletter

๐ŸŒ Global Perspectives

  1. ๐Ÿ‡ฒ๐Ÿ‡ฉ ๐Ÿ‡ท๐Ÿ‡บ Moldova declared a state of emergency over expected Russian gas supply disruption when Ukraine's transit deal expires on December 31.

  2. ๐Ÿ‡บ๐Ÿ‡ฆ ๐Ÿ‡ฐ๐Ÿ‡ต Ukraine reported North Korean troops have joined Russian assault operations in significant numbers along the Kursk front.

  3. ๐Ÿ‡ซ๐Ÿ‡ท Cyclone Chido devastated France's Mayotte island with 140mph winds, killing hundreds and destroying critical infrastructure.

  4. ๐Ÿ‡ฎ๐Ÿ‡ช ๐Ÿ‡ฎ๐Ÿ‡ฑ Israel closed its embassy in Ireland citing "extreme anti-Israel policies" after Ireland recognized Palestine.

๐Ÿ“Š Crypto

  • MicroStrategy arranged to join the Nasdaq 100 on Dec. 23 after its stock rallied nearly 500% this year.

  • El Salvador, Paraguay, and the Central African Republic considered adding Bitcoin to their national reserves.

  • BiT Global sued Coinbase for delisting wBTC and launching a competing product cbBTC.

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๐ŸŽค What you said last time

What you had to say:

โ€œProof corruption and greed are more powerful than hard work.โ€

๐Ÿง  Errata

  • An Oregon city begged residents to stop putting googly eyes on its historic statues. [Ed: Why would you want to stop this?]

  • Concert-goers in Boston cheered wildly when photos of alleged CEO killer Luigi Mangione appeared on the screen.

  • Federal officials deployed high-tech drone hunters to track mysterious aircraft sightings over New York and New Jersey.

  • The JonBenet Ramsey murder case got fresh attention as her father pushed for new DNA testing 28 years later.

๐Ÿ“บ What to Watch Today

Thatโ€™s all for today. Did I miss anything? Smash the reply button to let me know.

Cheers,

Wyatt

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