top headlines from today:
World & Market
- Dow closes at new record, Russell 2000 hits all-time high, as investors cheer Trump’s Treasury pick
- US markets closed:⬆ S&P 500 – 5,987.31 (+0.30%) ⬆ DOW 30 – 44,736.48 (+0.99%) ⬆ NASDAQ – 19,054.84 (+0.27%) ⬆ Russell 2000 – 2,451.47 (+1.86%) ⬇ CBOE Volatility – 14.80 (-2.89%)
- DOW JONES UNOFFICIALLY CLOSES UP 432.44 POINTS, OR 0.98%, AT 44,728.95
- S&P 500 UNOFFICIALLY CLOSES UP 18.00 POINTS, OR 0.30%, AT 5,987.34
- MICROSTRATEGY BUYS ANOTHER 55,500 BITCOIN FOR $5.4 BILLION.
- APPLE’S THIN IPHONE HAS NO PHYSICAL SIMS—THAT COULD DAMPEN CHINA SALES – THE INFORMATION
- DEUTSCHE BANK FORECASTS S&P 500 INDEX WILL RISE TO 7000 BY YEAR-END 2025
- Barclays raises 2025 S&P 500 index forecast to 6,600 from 6,500
- INTEL AND THE US COMMERCE DEPARTMENT NEAR ~$8 BLN CHIPS ACT GRANT – CNBC.
2024 Politics
- Chicago Mayor Brandon Johnson’s favorability falls to 15%, with 70% unfavorable — Change Research poll
- TRUMP CALLS FOR DOJ INVESTIGATION INTO 2020 ELECTION, ACCORDING TO WAPO
- Trump Considers Defense Financiers For A Top Spot At Pentagon – WSJ
- *TRUMP LIKELY TO TAP KASH PATEL FOR FBI OR DOJ POST: AXIOS
- US PROSECUTORS MOVE TO DISMISS APPEAL IN DOCUMENTS CASE AGAINST TRUMP -COURT FILING
- Kamala considers running for President again in 2028, “I am staying in the fight.” — Politico
Conflict
- *BIDEN, MACRON TO ANNOUNCE HEZBOLLAH CEASEFIRE DEAL SOON:REUTERS
- ISRAEL AND LEBANON HAVE AGREED TO THE TERMS OF AN AGREEMENT TO END THE ISRAEL-HEZBOLLA CONFLICT -AXIOS CITING U.S. OFFICIAL
- Top NATO official says business should prepare for “wartime scenario” — Reuters
- President Trump is planning to remove transgender individuals from serving in the United States military
- TRAE STEPHENS, STEPHEN FEINBERG ARE UNDER CONSIDERATION BY TRUMP TO BECOME DEPUTY SECRETARY OF DEFENSE
- IRAN TO MEET WITH GERMANY, FRANCE, UK IN NUCLEAR TALKS – AL JAZEERA
- RUSSIA LURES YEMENI MERCENARIES TO FIGHT IN UKRAINE – FT
Virus
- Bird flu virus found in raw milk sold in California. Raw Farm, LLC has issued a recall for quart and half-gallon sized milk products with an expiration date of Nov. 27
key headlines we care about:
- Matt Gaetz began selling personalized video messages on Cameo just a day after withdrawing from consideration as Trump’s attorney general. (Some would call this a “career pivot”.)
- Hiring has plunged 27% in IT, 32% in quality assurance, and 23% in product management, since 2018, per BI. (“Have you rebooted/turned it off & on again” is solving most problems..)
- ELON MUSK OWNED NEURALINK APPROVED FOR TEST USING BRAIN IMPLANT TO CONTROL ROBOTIC ARM (For those looking for a UNIQUE Christmas gift this year..)
- Kamala considers running for President again in 2028, “I am staying in the fight.” — Politico (Republicans rejoice..)
MINDFUL MONDAY
A RANGE of activities for the out of town Holiday guests to do…
Warren Buffett’s entire investment philosophy is summed up in this simple chart. He only buys a stock when it trades below its intrinsic value and there is a clear margin of safety.
(Carbon Finance)
Proportion of People That Say They are Worn Out by the Amount of News
Ethereum now up slightly more than bitcoin since election day.
#ethereum +42% #bitcoin +39%
Walking into the family Thanksgiving gathering after going for “just one drink” with your out of town cousin…
Global Politics
In FY2023, the U.S. Government spent $6.16. trillion while only bringing in $4.47 trillion. The last budget surplus was in 2001. This trend must be reversed, and we must balance the budget.
US PROSECUTORS MOVE TO DISMISS APPEAL IN DOCUMENTS CASE AGAINST TRUMP -COURT FILING
Trump Trade Muddles Inflation Outlook in Fed’s Favorite Gauge – Bloomberg
President-elect Donald Trump holds over $5,400,000 in cryptocurrency assets
Not to brag but I am halfway done filling my basement with gasoline..
Small Cap Stocks have done it!! IWM hits an all-time high
FYI
Safest cities to travel in 2025:
(USA News Travel, BHTP)
Holidays bring out the best in us..
Click HERE for a market recap
on this day in history:
Today in History
1973 Military coup in Greece
President George Papadopoulos was ousted by the army, just a week after student-led protests at the Athens Polytechnic were violently put down by the government.
1960 Assassination of the Mirabal Sisters
The 3 Dominican sisters, Patria, Minerva, Antonia Mirabal, were activists that were opposed to the dictatorship of Rafael Trujillo. On this day, they were brutally killed and their deaths staged to look like accidents. In 1999, the United Nations General Assembly declared November 25 as the International Day for the Elimination of Violence against Women.
1952 Agatha Christie’s The Mousetrap opens at London’s West End
The longest running show in history, the play began as a radio play called Three Blind Mice. It is based on the death of Dennis O’Neill, who died while in foster care.
1950 “Storm of the century” hits eastern US
Also known as the Appalachian Storm, the storm reached blizzard conditions and dumped nearly 60 inches of snow in the Appalachian area. It brought unseasonal temperatures to the region and caused widespread damage to property. About 150 people were thought to have been killed as a result of it.
1936 Nazi Germany and Japan sign the Anti-Comintern Pact
The treaty was directed towards the Soviet Union and stipulated that in case of Soviet aggression towards either country, the other would consider it as an act of aggression towards it as well. The pact was later signed by other countries including Italy, Romania, Spain, and Turkey.
birthdays & deaths:
Births On This Day, November 25th
1952 Imran Khan
Pakistani cricketer, politician
1915 Augusto Pinochet
Chilean general, politician, 30th President of Chile
1914 Joe DiMaggio
American baseball player
1844 Karl Benz
German engineer, businessman, founded Mercedes-Benz
1835Andrew Carnegie
Scottish/American businessman, founded the Carnegie Steel Company
Deaths On This Day, November 25th
2005 George Best
Irish/English footballer
1997 Hastings Banda
Malawian politician, 1st President of Malawi
1974 U Thant
Burmese diplomat, 3rd United Nations Secretary General
1974 Nick Drake
English singer-songwriter, musician
1944 Kenesaw Mountain Landis
American judge
company news/earnings:
Analyst Actions
Wedbush analyst Dan Ives just raised his price target on Palantir $PLTR up to $75 from $57 while maintaining his OutPerform rating
TSLA | UBS Raises Tesla Price Target To $226 From $197
Earnings
$A Agilent Technologies Inc Q3 2024
Adj. EPS 1.46 (exp. 1.41)
Revenue 1.7bln (exp. 1.67bln)
BBWI Bath & Body Works reported earnings Q3 FY2024 results ended on November 2nd, 2024 – Revenue: $1.61B, +3.0% YoY – Net income: $106M, -10.9% YoY from $119M – EPS: $0.49 vs $0.52 in Q3 2023 – Operating income: $218M, -1.4% YoY from $221M
$ZM Zoom Video Communications Inc Q3 2024
Adj. EPS 1.38 (exp. 1.31)
Revenue 1.18bln (exp. 1.16bln
FYI
Wicked and Gladiator II, two of the year’s most anticipated films, brought in a combined $170 million in US and Canadian theaters this weekend.
APPLE’S THIN IPHONE HAS NO PHYSICAL SIMS—THAT COULD DAMPEN CHINA SALES – THE INFORMATION
“Wicked” could reach $1B global gross after strong opening weekend.
CANTOR FITZGERALD IN TALKS WITH TETHER FOR $2 BILLION BITCOIN LENDING PROJECT: BBG
HONG KONG IS BECOMING HUB FOR FINANCIAL CRIME, US LAWMAKERS SAY
UK BUSINESS CUTTING BACK GROWTH PLANS AFTER BUDGET TAX RISES, WARNS CBI – FT
FED’S GOOLSBEE: RATES HAVE A FAIR WAY TO GO BEFORE THEY GET TO NEUTRAL.
FED’S GOOLSBEE: I CAUTION AGAINST FOCUSING ON INFLATION IN ANY ONE MONTH.
US, EUROPE DIVERGE ON MONETARY POLICY AS TRUMP SCRAMBLES OUTLOOK – FT
MicroStrategy bought another $5.4 billion in Bitcoin, marking its third acquisition this month as the company rapidly increases its holdings
DEUTSCHE BANK FORECASTS S&P 500 INDEX WILL RISE TO 7000 BY YEAR-END 2025
Barclays raises 2025 S&P 500 index forecast to 6,600 from 6,500
Florida Governor Ron DeSantis tells Mayors in the state of Florida if they try to obstruct or BLOCK Trump’s ’s mass deportation plans, that they will be held accountable by the rule of law.
Quikrete to take Summit Materials private in de
Cleveland-Cliffs CEO still keen on acquiring US Steel as uncertainty weighs on Nippon bid
Dollar follows U.S. yields lower after Bessent Treasury nomination
Gold tumbles 3% on reports of Israel-Hezbollah ceasefire, U.S. Treasury pick
U.S. CRUDE OIL FUTURES SETTLE AT $68.94/BBL, DOWN $2.30, 3.23%
NYMEX WTI CRUDE JANUARY FUTURES SETTLE AT $68.94 A BARREL, DOWN $2.30, 3.23%.
NYMEX DIESEL DECEMBER FUTURES SETTLE AT $2.2353 A GALLON.
NYMEX GASOLINE DECEMBER FUTURES SETTLE AT $2.0005 A GALLON.
NYMEX NATURAL GAS DECEMBER FUTURES SETTLE AT $3.3690/MMBTU.
CANADA MANUFACTURING SALES (MOM) (OCT) ACTUAL: 1.3% VS -0.5% PREVIOUS; EST -0.8%
JAPAN NATIONWIDE DEPT SALES (Y/Y) OCT: -0.7% (PREV 2.3%) – TOKYO DEPT SALES (Y/Y): -1.1% (PREV –0.6%)
SINGAPORE CPI MOM NSA ACTUAL -0.3% (FORECAST 0.2%, PREVIOUS 0.3%)
U.S CHICAGO FED NATIONAL ACTIVITY (OCT) ACTUAL: -0.40 VS -0.28 PREVIOUS; EST -0.20
U.S DALLAS FED MFG BUSINESS INDEX (NOV) ACTUAL: -2.7 VS -3.0 PREVIOUS; EST -2.4
US markets closed: ⬆ S&P 500 – 5,987.31 (+0.30%) ⬆ DOW 30 – 44,736.48 (+0.99%) ⬆ NASDAQ – 19,054.84 (+0.27%) ⬆ Russell 2000 – 2,451.47 (+1.86%) ⬇ CBOE Volatility – 14.80 (-2.89%)
European stocks close higher as global markets rise; UniCredit dips after making offer for Banco BPM
Asia markets kickstart data-heavy week on a strong note with Aussie stocks hitting record highs