📈 China's $278B lifeline

☕️ Good morning.

The Fast Five → China weighs stock market rescue package, S&P 500 notches third straight record high close, Netflix pays $5 Billion for WWE’s ‘Raw’, unemployment rises in nearly a third of US states, and Red Sea turmoil sends economic shockwaves far and wide…

Your 5-minute briefing for Wednesday, January 24:

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BEFORE THE OPEN

PRE-MARKET

MARKETS

• US stocks closed mixed as investors digested corporate earnings

• The Dow fell 0.25%, while the Nasdaq rose 0.43%

• Asian stocks mostly rose as Chinese authorities weigh a market rescue plan

EARNINGS

• Netflix shares jumped ~8% after beating Q4 revenue and subscriber growth estimates; the company missed on earnings (link)

• Verizon shares jumped 7% after beating Q4 earnings estimates, posting its highest quarterly subscriber addition in nearly two years, and forecasting annual profit above estimates (link)

• 3M shares plunged 11% after forecasting full-year earnings below Wall Street estimates due to the macro environment (link)

• What we're watching this week:

  • Today: Tesla, AT&T, IBM, ASML, Progressive

  • Thursday: Intel, Visa, Blackstone, American Airlines, Comcast, Next Era Energy

  • Friday: American Express

• Full calendar here

NEWS BRIEFING

China Weighs Stock Market Rescue Package Backed by $278 Billion

Netflix Pays $5 Billion for WWE’s ‘Raw’, Its First Big Live Event

• S&P 500 notches third straight record high close (link)

• Tech’s ‘Magnificent Seven’ stocks are back on top (link)

• Unemployment rises in nearly a third of US states in December (link)

• Red Sea turmoil sends economic shockwaves far and wide (link)

  • As more tankers divert from Red Sea, Suez Canal, booming US oil industry gets another boost (link)

• Apple dials back car’s self-driving features, delays launch to 2028 (link)

• Hedge fund stars who got China wrong are paying a big price (link)

• SpaceX, Blue Origin space race is boosting suppliers’ bottom lines (link)

• Desperate Chinese property developers resort to bizarre marketing tactics (link)

• Johnson & Johnson to settle talc baby powder investigation, will reportedly pay $700M (link)

• Alaska Airlines and United CEOs cast doubt on Boeing after 737 MAX 9 issues (link)

• Trump cruises in New Hampshire primary election, Haley vows to fight on (link)

• Trian’s big Disney bet drove fund’s 2023 underperformance (link)

• Boeing 757 loses nose wheel while preparing for takeoff in Atlanta (link)

• Alibaba gains as Jack Ma, Joe Tsai buy $200M in stock (link)

• Southwest Airlines flight attendants authorize strike (link)

• Turkey approves Sweden’s NATO membership bid (link)

CRYPTO

• Donald Trump doubled down on his opposition against central bank digital currencies (link)

• Crypto-trading venue EDX Markets, which is backed by Citadel and Fidelity, is building an exchange in Singapore (link)

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BULLISH BITES

💼 Attn Interns: how to land an investment-banking internship at Goldman Sachs, Morgan Stanley, Lazard, and other Wall Street firms as the 2025 application race begins.

🍴 Calling all foodies: Yelp's Top 100 Places to Eat, 2024 - did your city make the list?

💰 Rev-share: MrBeast tested Elon Musk’s theory and took home $250,000.

🚀 Trending: Why do boomers and Gen Xers love Temu so much?

FEATURED TRADES

Navitas, outlook post investor day

Navitas Semiconductor (ticker: NVTS) is a company specializing in the design and manufacture of high-efficiency power semiconductors based on gallium nitride (GaN) technology, which are used in a variety of applications including mobile, consumer, enterprise, eMobility, and renewable energy.

Ticker: NVTS | Price: $6.40 | Price Target: $16.70 (+160%)

Market Cap: $1B | Timeframe: N/A

⚡️ Semiconductor | 🏭 Manufacturing | 📈 Bullish Idea

Read the full article here. Read time: 16 min

DAILY SHARES

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