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Giuliani Is Broke
Tiger Woods has become the hottest meme template of the year, Rudy Giuliani is down horrendous, Shell extended its job cuts, Harvard stands behind President Gay, container rates hit $10k, Brookfieldās debt was cut to junk by the S&P, and Hyperloop One was shut down.
Big Pay Day for Southwest Pilots
Wells Fargo employees voted in favor of unionizing, Citi is exiting distressed debt trading, Fedās Harker says rates should move down but not immediately, Milei is privatizing Argentinian companies, US 30-year mortgage rates hit lowest level since June, and Southwest pilots are looking at a 50% pay bump.
Red Sea Shipping Risks
A Colorado court disqualified Trump from its 2024 ballot, Google owes $700M in a Play store settlement, Citi is facing a #MeToo claim, the IRS may be forgiving $1B in taxpayer penalties, Brazilās credit rating was raised by the S&P, and shippers are avoiding the Red Sea.
Regulators Hated the Figma Deal
Adobeās Figma acquisition collapsed, Nikola founder Trevor Milton is headed to prison, Washington-area office default risk surpassed San Franciscoās, more Americans own stocks than ever before, the EU is targeting Muskās X in an illegal content probe, and Binance has to pay the CFTC $2.7B.
It's a Mag 7 Market
Wall Street traders are turning to short-dated debt to trade the Fed pivot, the Magnificent Seven are carrying the market, Gazprom set a record high gas flow to China, Citi employees on edge about layoffs can work remote until 2024, Chanos is bullish on US gaming, and Robinhood is wooing wealthier clients from bigger brokerages.
Blackstone's Cringe Holiday Video
Blackstone dropped an insanely cringe holiday video, markets could continue to rally thanks to money on sidelines, world Central Banks believe victory over inflation is in sight, Yellen outlined plans to improve US-China ties, Argentina still plans to dollarize, and Citi shut down its muni business.
Roaring 20s Are Back
Powell announced that rate hikes are done, the Dow hit a record high closing above 37,000, Citi is paying partial early bonuses to encourage staff departures, Apple hit a record high, Tesla recalled millions of vehicles, and OpenAI is paying Axel Springer millions to use news content.
New Penn President
U Pennās med school dean was named interim president of the university, inflation slowed to 3.1% YoY, EY is laying off partners amid tough economic conditions, Milei devalued the peso by 54%, Citadel is handing back $7B in profits to clients, and OpenAIās funky corporate structure is skewing its ārevenueā results.
Maybe Inflation Was Transitory
US inflation expectations hit lowest level since April 2021, India overtook Hong Kong as the worldās 7th largest stock market, Goldman is reshuffling its private credit unit, Boeing picked a frontrunner to be its new CEO, Google and Epic Games are facing off in an antitrust trial, and Netflix is showing live tennis.
Reloading the Strategic Reserve
Thereās a new dominant e-commerce giant in China, Milei warns that economic shock is unavoidable, Ethiopia is about to become Africaās next debt defaulter, the US is reloading the strategic reserve, Rakuten is launching a proprietary AI model, Tucker Carlson is launching his own streaming service, and renters are getting concessions from landlords again.
GameStop Is Ryan Cohen's Hedge Fund
GameStop is letting Ryan Cohen use company cash to buy stocks, KKR is buying up risky debt, gas prices keep dropping, mortgage rates have fallen for the 6th straight week, Spotify is losing its top marketer amid restructuring, Amazon is testing a grocery subscription service for its Prime members, and JPMās Kolanovic says to opt for cash or bonds over stocks.
It's Taylor Swift's World and We're All Living in It
Taylor Swift was named Timeās Person of the Year, traders are betting the ECB will cut rates to 2.5%, McKinsey shrank its new partner class by 35%, AMD debuted a new chip to compete with Nvidia, Google opened access to its Gemini AI model, and unicorn valuations are shrinking.