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- 📈 Can’t keep up
📈 Can’t keep up
Wall Street can’t keep up with Nvidia growth, Cathie Wood voting for Trump for US economy, US regulators single out four banks for flawed 'living wills', ByteDance taps Broadcom to develop AI chip, and Apple and Meta discuss AI partnership…
Smart Owl
June 24, 2024
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Good morning.
The Fast Five → Wall Street can’t keep up with Nvidia’s sales growth, Cathie Wood backs Trump for US economy, US regulators single out four banks for flawed 'living wills', ByteDance taps Broadcom to develop AI chip, and Apple and Meta discuss AI partnership…
Calendar: (all times ET)
TUE 6/25: Consumer confidence, 10:00a
WED 6/26: New home sales, 10:00a
THU 6/27: Initial jobless claims, 8:30a
Durable-goods orders, 8:30a
FRI 6/28: PCE index, 8:30a
Consumer sentiment, 10:00a
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BEFORE THE OPEN
As of market close 6/21/2024. Bitcoin as of 6/23/2024.
PRE-MARKET
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MARKETS
US stocks indexes closed marginally lower weighed by a decline in tech stocks
The Dow had its best week since May
The S&P has avoided a 2% sell-off or rally for the longest stretch since 2008
US 10Y yields posted its first weekly climb in three
Ghana dollar bonds rallied to their highest since 2022 on restructuring talks
Chinese yuan fell to seven-month lows on investment outflows
EARNINGS
NEWS BRIEFING
Chipmaker’s revenue beats have made projections difficult. Recent estimates have deviated from results by an average 12%.
Cathie Wood said, 'I am a voter when it comes to economics, and on that basis, Trump'
The market is in its longest stretch without a 2% sell-off since the financial crisis (link)
Credit spreads widen on political jitters, Treasuries rally (link)
Treasury receives $556.7M from auction of airline warrants (link)
US official says no decision yet on whether to prosecute Boeing (link)
Nvidia to launch in Middle East amid U.S. curbs on AI exports to region, Ooredoo CEO says (link)
Alaska Airlines, flight attendants reach tentative deal (link)
NJ Transit pledges to hold Amtrak's 'feet to the fire' after commuting meltdowns (link)
Regulators hit Citigroup, JPMorgan Chase, Goldman Sachs and Bank of America over living will plans (link)
Indian E-Commerce Unicorn zepto plans to double outlets after raising funding at $3.6 billion valuation (link)
Ginkgo Bioworks lays off 158 employees, with more to come (link)
Exclusive: China's ByteDance working with Broadcom to develop advanced AI chip (link)
OHSU announces layoff of at least 500, weighs cuts to benefits (link)
Apple and Meta have discussed AI partnership, WSJ reports (link)
CRYPTO
DAILY SHARES
microsoft seeing this tweet
— sophie (@netcapgirl)
10:34 PM • Jun 10, 2024
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