Good morning.
Tech sentiment is down, but not out. If Micron can blow its earnings report out of the water and shares rise 14%, what else could happen?
Today’s market:
Major inflation report today that could spark a Santa Claus rally
Fed governor Chris Waller says there is 50 to 100 bps of room to cut
California threatens to stop Tesla from selling cars
Let’s get to it.
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📰 Market Headlines
US stocks sank on Wednesday, pulled lower by a tech-led sell-off.
The Nasdaq plunged 1.8%, the S&P 500 dropped over 1%, and the Dow lost about 0.5% as worries over AI funding rattled investors.
However, S&P 500 futures are creeping upward in anticipation of inflation data that could spark a rally. More below.
Micron (MU) delivered a knockout punch yesterday, rising 13.58% after forecasting second-quarter earnings of $8.42 per share versus Wall Street's $4.78 estimate and revenue of $18.70 billion compared to analysts' $14.20 billion target.
Booming AI demand and tight supply have driven memory chip prices higher. Micron supplies high-bandwidth memory chips essential for training AI models, making it one of only three major suppliers alongside SK Hynix and Samsung.
The November consumer price index report comes out today, and whether inflation is in the 2% or 3% range could change everything. 12-month inflation is expected to be 3.1%, and core CPI to be 3.0%. The key: if inflation comes in at 2.9% or lower in either measure, it could be fuel for stocks to go higher, according to José Torres, senior economist at Interactive Brokers. He thinks it might cause a Santa Claus rally.
Fed governor Chris Waller hinted at more rate cuts ahead, saying the central bank still has "50 to 100 basis points" of room to lower rates. Markets are parsing every Fed signal as they await Thursday's November inflation data, which could influence the central bank's December policy decision.
Tesla (TSLA) shares are down 4.62% after California regulators threatened the company with a 30-day sales license suspension unless the company tones down its "Autopilot" and "Full Self-Driving" marketing claims. An administrative judge concluded Tesla has misled consumers about its autonomous driving capabilities for years, though the company brushed off the ruling and said sales will continue uninterrupted. Tesla has 90 days to make changes that better convey the technology's limitations.
Trump Media & Technology Group (DJT) is up 19% after announcing a merger with TAE Technologies to become one of the world’s first publicly traded fusion energy companies. The deal is all in stock, and will result in shareholders of each business holding roughly half ownership of each company.
😱 Fear & Greed Index
🤖 AI/Future/Tech News
YouTube (owned by Google) landed exclusive Oscar broadcasting rights starting in 2029, ending ABC's 53-year run as the ceremony's home.
Google's new Gemini 3 Flash model became the default in its app, scoring 81.2% on the MMMU-Pro benchmark to outpace competitors.
🪙 Crypto
Coinbase is launching “equity perpetuals,” which will enable 24/7 stock trading in the US with up to 20x leverage.
Bitcoin hovered near $86,000 on Wednesday, fell 6% year-to-date as whale selling pressured the lackluster end to 2025.
60% of banks quietly activated Bitcoin services through white-label partnerships, with Charles Schwab and Morgan Stanley targeting spot trading by mid-2026.
🚨 Trending on Reddit
Netflix chatter spiked as users debated whether the Warner Bros deal and sports streaming push signal real growth or just short-term hype. Some threads raised concerns about market manipulation and quick-trade plays.
Robinhood mentions heated up as users griped about the app’s casino vibes and speculated on a Klarna tie-up and the launch of Robinhood Silver, with calls for platform upgrades.
🤫 Insider Trading
🪀 Alternative Investment: 70s Toys
Pinterest searches for "1970s childhood toys" spiked 125% as the platform predicted retro toys would trend heavily in 2026. Modern versions of classic '70s toys like the Sit 'n Spin are making a comeback in retail, while collectors are keeping vintage originals for nostalgic displays rather than giving them to kids.
The trend reflects millennials returning to childhood favorites with higher disposable incomes, treating rare authenticated pieces as alternative assets rather than mere memorabilia.
❓Market Trivia Corner
Which stock did Warren Buffett make the most money on?
🎤️ What you said last time
🚚 Market Movers
JPMorgan shifted $350 billion from its Federal Reserve account into Treasuries.
Goldman Sachs hired Qatalyst co-founder Brian Cayne as global co-head of software investment banking.
Radiant Nuclear raised $300 million at a $1.8 billion valuation to fund its 1 MW portable reactor.
Rad Power Bikes filed for Chapter 11 bankruptcy with $73 million in liabilities and plans to sell within 60 days after a failed funding deal and battery fire warnings.
🧠 The Missing (Market) Links
The Bank of England cut interest rates by 25 BPS.
President Trump announced a “warrior dividend” of $1,776 for every American soldier. The checks will cost the government roughly $2.5 billion total.
The U.S. has admitted fault in the Army helicopter collision with an American Airlines jet earlier this year that killed 67 people.
American Airlines was rated the best U.S. airline for 2025 with a 7.64 score, beating United and Delta on claims processing speed.
McDonald's CEO Chris Kempczinski dropped some career hard truth: "Nobody cares about your career as much as you do."
Nearly 40% of Americans say their biggest financial regret from 2025 was not saving enough money.
📜 Quote of the Day
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