📈 Big banks to sue Fed?

☕️ Good morning. Producer Price Index (PPI) report today @ 8:30 am ET

The Fast Five → US, UK strike Yemen in retaliation for Red Sea attacks, December inflation higher than expected, Bitcoin ETFs begin trading on U.S. exchanges, big banks mull suing the Fed, and the US deficit tops half a trillion dollars in Q1 2024…

Your 5-minute briefing for Friday:

BEFORE THE OPEN

PRE-MARKET

MARKETS

• US stocks remained relatively unchanged after the release of December's CPI report, which came in slightly higher than expected at 0.3% for the month and 3.4% annually

• The Dow rose 0.04%, while the S&P fell 0.07%

• European stocks fell due to hotter-than-expected US inflation data

EARNINGS

• What we're watching this week:

  • Today: JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, United Health, BlackRock, Delta Air Lines

• Full calendar here

NEWS BRIEFING

Bitcoin ETFs Begin Trading on U.S. Exchanges

Big Banks Mull the Unthinkable: Suing the Fed

• US, UK strike Yemen in retaliation for Red Sea attacks (link)

  • Oil prices jump more than 2% as US, Britain strike Houthis (link)

  • Red Sea crisis could jeopardize inflation fight as shipping costs spike globally (link)

• Google cuts hundreds of jobs across engineering, hardware teams (link)

• US deficit tops half a trillion dollars in the first quarter of fiscal year (link)

• Large backers of private equity are asking for their money back (link)

• After big Tesla bet, Hertz selling one-third of EV fleet (link)

• US elections toss twist at markets fixated on Fed, economy (link)

• JPM sees a record $30B private debt changing hands (link)

• Disney studio Pixar poised to cut jobs, numbers undecided (link)

• Inflation edged up in December after rapid cooling most of 2023 (link)

• Calstrs CIO who runs $318B pension is stepping down (link)

• UK recession risk lingers despite rebound in November GDP (link)

• CVS to close ‘select’ pharmacies in Target stores in the coming months (link)

• Goldman Sachs traders get their swagger back in stocks (link)

• Apple’s Vision Pro headset could sell out quickly at launch, top analyst predicts (link)

• Airbus shatters record for jet orders as demand soars (link)

• Deutsche Bank sees strong dollar even as Fed cuts interest rates (link)

• Citigroup’s Jane Fraser embarks on another pivotal year of bank cuts (link)

• Iran seizes oil tanker linked to US sanctions dispute (link)

• Argentina’s $16.1B in YPF fight is open to collection (link)

CRYPTO

• Bitcoin ETF supporters see options trading as the next hurdle (link)

• US Bitcoin ETFs saw $4.6B in volume on the first day of trading (link)

You Can Sponsor this Newsletter details here.​

BULLISH BITES

🔥 Post of the day: Meet the “dream team” at the manufacturer that made the plane door that just blew off in the middle of a flight.

📈 BTC-ETF 101: Here’s what a Bitcoin ETF actually means for investors.

🧵 Sew cool: 13-year-old secures Louis Vuitton internship after mom shares sketches that went viral.

🙌 High five: The 10 best US companies to work for in 2024, according to Glassdoor.

FEATURED TRADES

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Read the full article here. Read time: 2 min

DAILY SHARES

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