💥 The Dow Jones smashes through another milestone

🦟 Plus, a new vaccine that could save 500k children per year

This week, options guru Benedict Maynard will tell you how to hedge these all-time highs. Make sure to subscribe if you want the full briefing.

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📰 Market Headlines

  • The Dow Jones closed above 38,000 for the first time. The S&P hit a new ATH as well, while the Nasdaq simply continued to rise.

  • How long can this bull run go when all the gains come from just a few stocks? NVIDIA is up 20% already in 2024, while the Russell 2000 is down 2%. This week, Benedict is going to share a hedging strategy to protect against a correction.

  • Several big names report earnings today, including P&G, J&J, and Lockheed Martin, ahead of the bell. Netflix reports in the afternoon. Intel, IBM, American Express, Visa, and Tesla report later this week.

  • Some shipping companies are now using a Saudi land route to avoid idiots with drones and missiles in the Red Sea. Shipping rates through the region are up 461% since October.

🕶️ Market Vibes

🎰 Market Forecasts and Futures

Goldman raised its Q4 GDP forecast to 2.1%, which is still below Kalshi consensus. They also expect only four rate cuts in 2024 now, which is one less than what Kalshi is showing.

😱 Fear and Greed Index

🧠 What do you think?

How are you hedging against a correction in 2024?

Best comments get shared mañana.

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🎤 What you said last time

You guys are right in line with the Fear and Greed index. To the moon!

Sorry about cropping answer two. I’ll be more concise next time.

Bull run, baby

“With a couple of significant corrections along the way. . . ”

📈 Trends you need to know

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

From the WHO:

“According to the latest World Malaria report, there were 249 million cases of malaria in 2022 compared to 244 million cases in 2021. The estimated number of malaria deaths stood at 608,000 in 2022 compared to 610,000 in 2021.”

“Children under 5 years of age accounted for about 78% of all malaria deaths.”

But there’s hope (more below).

📊 Stocks

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Winners and losers

Earnings, upgrades, and acquisitions

  • Despite warning about Q1 due to most of its Boeing airplanes falling out of the sky, United reported strong holiday results, sending shares up 6%. Other airlines soared higher on the news as well.

  • Enterprise software company Agilysys beat expectations and reaffirmed guidance. Shares were down 4% anyway. 🤷🏽

Market movers

  • More layoffs:

    • Other banks are following Citi’s lead (they fired 20k).

    • Solar Edge is firing 900 people, 16% of its employees.

    • Riot Games fired 530 people, 11% of its staff.

  • UK homebuilders are slashing guidance and scrapping dividends.

  • The 20 biggest hedge funds “made $67 billion in investor profits in 2023, up from the $65 billion recorded during the pandemic-era rally of 2021.”

Ideas, trends, and analysis

🌍 Global Perspectives

🇨🇳 Beijing is considering a $280 billion bailout. I don’t think that’s enough.

🇰🇵 North Korea released some excellent new war propaganda.

Who are the guys under the tank??

🇨🇲 Cameroon is rolling out a malaria vaccine. If it works, it could save millions of lives per year worldwide.

📊 Income

📊 Crypto

  • Bitcoin is down around 20% since the ETF launched. It’s under $40k for the first time this year.

🧠 Errata

📺 What to Watch Today

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

Cheers,

Wyatt

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