Omicron variant, J Pow, Ghislaine Maxwell, Jack Dorsey, Markets Rebound, Art Basel Miami, and more
New 'Vid Variant just dropped. Investors were absolutely rattled by the headlines on Friday, causing a market-wide Black Friday special on stocks. Cue the "awww sh*t here we go again" meme.
Hope y'all had a Thanksgiving full of cringe conversations about banking, crypto, and more. We've got a short trading session today and some Black Friday deals for y'all.
Back to back days of tech stocks (and LitCap Yolo Fund) getting hammered, due to rising rates. Meanwhile, Biden and five other countries agreed to open the spigot on oil reserves to combat high gas prices and inflation.
President Biden announced the renomination of Jerome Powell for Fed Chair, much to the dismay to the squad and a few other senators. Tech stocks and Bitcoin also dropped.
US markets will be closed on Thursday and close early on Friday
A closer look into our favorite newsletter platform (and the new home of Exec Sum)
Biden is expected to pick the next Fed Chair this weekend (Jerome Powell sweating rn), the Constitution DAO was outbid, supply chains still constrained, and big things cooking over at Exec Sum HQ.
One week until Thanksgiving and still so much left to do before then. Will save turkey / supply chain / inflation jokes for next week.
US retail sales surged in October as Americans eagerly started their holiday shopping. Earnings continue to be strong. Crypto continued to sell off.
Biden signed the $1T infra bill into law yesterday, stocks held steady, crypto sold off last night, and Elon Musk unloaded another $930M in Tesla stock after selling $6.9B last week.
It's finally beginning to feel like mid-November weather in NYC. The banks are cranking, the deals are flowing, the inflation is inflating, and the Canadian Geese-clad financiers are out on the streets.