- Exec Sum
- Archive
- Page 31
Archive
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, Brazil’s credit rating was raised by the S&P, and shippers are avoiding the Red Sea.
Regulators Hated the Figma Deal
Adobe’s Figma acquisition collapsed, Nikola founder Trevor Milton is headed to prison, Washington-area office default risk surpassed San Francisco’s, more Americans own stocks than ever before, the EU is targeting Musk’s 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 Penn’s 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 OpenAI’s funky corporate structure is skewing its “revenue” results.
Maybe Inflation Was Transitory
US inflation expectations hit lowest level since April 2021, India overtook Hong Kong as the world’s 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
There’s a new dominant e-commerce giant in China, Milei warns that economic shock is unavoidable, Ethiopia is about to become Africa’s 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 JPM’s 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 Time’s 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.
Apple $3 Trillion Club
Apple joined the $3T club, job openings hit a two-year low, the Supreme Court is wary of remaking income tax, WaPo journalists plan a 24-hour strike, Biden says he might not have sought reelection if Trump weren’t running, Wall Street CEOs are headed to Washington, and Airbnb named its CFO to new chief business officer role.
Spotify's Heavy Job Cuts
Spotify cut 17% of its staff, OpenAI rival Mistral is close to raising ~$500M, US Bank is issuing $2.5B of auto credit-linked notes, the US leads a coalition to triple nuclear power by 2050, Birkenstock topped its IPO price, Virgin Galactic shares plunged on news that Branson would not invest more, and Starbucks shares are headed for a record losing streak.