The Dow hits a record high

*past 24-hour performance

💨 TL;DR

  1. The Fed held rates steady and gave dovish guidance.

  2. Markets soared across the board.

  3. Tesla recalls nearly all its cars (over-air).

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📰 Market Headlines

  • Markets everywhere ripped off the back of a rate freeze and dovish guidance from the Fed. The Dow hit a new record high, and the S&P and Nasdaq boomed as well.

  • Along with the decision to hold, committee members penciled in at least three rate cuts in 2024, assuming quarter percentage point increments. Four more cuts are anticipated in 2025 and another three in 2026 to lower the rate to 2.25%.

  • Despite the clear guidance, markets are forecasting six cuts in 2024.

  • Bitcoin and gold both surged on the news.

  • The IAEA

  • asdf

  • The US House of Representatives has voted to formalize its impeachment inquiry into President Joe Biden.

🕶️ Market Vibes

🎰 Market Forecasts and Futures

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  • The International Energy Agency said evidence of softening global oil demand is mounting and a slowdown is expected to continue in 2024.

  • The IEA said oil market sentiment had turned “decidedly bearish” in recent weeks, even after some members of OPEC+ on Nov. 30 announced a new round of voluntary production cuts for the first quarter of next year.

End-of-year forecasts

4,706

16,561

Macro forecasts

3.71%

3.42%

175,601

< 1% chance

50%

1.60%

😱 Fear and Greed Index

🧠 What do you think?

🗳️ Poll: Will American credit card debt increase again in Q4?

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🎤 What you said last time

Shohei’s taking a bigger gamble than most people realize.

It’s weird, but whatever

“The dollar will be worthless by the time he gets paid!”

📊 Stocks

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Winners and losers

Earnings, upgrades, and acquisitions

  • Adobe beat earnings but cut guidance. Shares were down 6%.

Market movers

  • Etsy is cutting about 225 jobs, or 11% of its workforce, as part of a plan to bring down its costs.

  • Tesla recalled two million cars over an autopilot safety issue. The “recall” will be an over-air software update.

Ideas, trends, and analysis

  • Seven undervalued growth stocks.

  • Is Novo Nordisk a buy?

  • Despite immediate-term headwinds, strategists say they’re overweight Europe stocks versus the U.S.

  • Why have Starbucks shares lost $11 billion? It’s not the boycotts.

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📊 Income

  • Markets have entered a “new paradigm” as the global order fragments, while heightened recession risk means that “bonds are back.”

  • South Korean, Indian, Malaysian, Indonesian, and Thai bonds had their biggest month since May in November.

📊 Crypto

Prices as of Saturday 2am EST.

  • JPMorgan expects ether to outperform bitcoin and other cryptocurrencies in 2024.

🌍 Global Perspectives

🇨🇳 China’s leaders pledged to step up measures to revive the country’s flagging economy but stopped short of issuing a stimulus package.

🇪🇺 Europe’s economy is in a bad way.

💎 Wealth Watch

  • Almost half of Gen Z think being financially compatible is more important than being physically attracted to their partner.

  • Why your car insurance is more expensive these days

  • 5 personal finance resolutions for 2024.

🗳️ Outside the Box

📺 What to Watch Today

📈 Trends you need to know

Search results are from our friends at Glimpse, my favorite way to spot trends.

Some recalls are bigger than others, but they’ve been getting less frequent.

That’s all for today. Did we miss anything? Smash the reply button to let us know.

Cheers,

Wyatt

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