📈 The gig is up

☕️ Good morning.

The Fast Five → CES 2024: all the latest from the show floor, United finds loose bolts on 737 Max 9’s after Alaska Airlines incident, Nvidia rallies to record high, Biden admin about to upend the gig economy with new rule, and JetBlue, Twilio CEO’s step down…

Your 5-minute briefing for Tuesday:

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BEFORE THE OPEN

MARKETS

• US stocks rallied, boosted by tech, ahead of this week’s CPI report and big bank earnings

• The Nasdaq led indices with a 2.2% gain, its best day since November 14

• European stocks rose, shaking off negative sentiment seen at the start of trading in 2024

EARNINGS

• Jefferies Q4 profit and revenue fell as the investment bank continued to grapple with a deal slump (link)

• What we're watching this week:

  • Today: Albertsons, Tilray

  • Thursday: Infosys

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

• Full calendar here

NEWS BRIEFING

United Finds Loose Bolts on 737 Max 9 Planes in Wake of Alaska Airlines Door Plug Incident

CES 2024: All the TVs, Laptops, Smart Home Gear, and More From the Show Floor

• Bill Gross casts shade on treasuries, sees 10Y ‘overvalued’ at 4% (link)

• BlackRock says last year’s risk rally has legs ‘well into 2024’ (link)

• China central bank hints at reserve ratio among tools to boost credit (link)

• Nvidia rallies to record high as chipmaker announces AI-related components (link)

• Wall Street is trying to nail down timing of Fed’s QT taper (link)

• Chinese city official spent $21B on ‘vanity projects’ (link)

• More young bosses want a raise to work from the office (link)

• JetBlue CEO to step down in February (link)

• Twilio co-founder Lawson steps down as CEO after bruising activist battles (link)

• Oil tankers continue Red Sea movements despite Houthi attacks (link)

• Buying home and auto insurance is becoming impossible (link)

• Biden admin to announce independent contractor rule that could upend gig economy (link)

• Russian billionaire and Sotheby’s fight over ‘the lost Leonardo’ painting (link)

• A $32B rout may not be end of Tencent’s woes (link)

• Mike Johnson faces same test as ousted speaker Kevin McCarthy (link)

• Tiger Woods and Nike split up after 27 years (link)

• Michigan defeats Washington to win national championship (link)

CRYPTO

• BlackRock, Ark and several other prospective issuers of bitcoin ETFs amended their applications to the SEC (link)

• Investment managers disclosed their Bitcoin ETF fees ahead of the SEC’s decision (link)

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BULLISH BITES

⛳️ Separate ways: Tiger Woods splits with Nike after 27 years.

🤼‍♂️ Seasoned: See how industry vets tackle CES.

😎 'Realignment': Affluent people keep moving from NY and SF to cheaper, warmer places.

🐁 Cute-ish: House-proud mouse secretly filmed tidying man’s shed every night.

FEATURED TRADES

Charter: Mid-Single-Digit Underlying Growth; Likely Reacceleration in 2024

Charter Communications, Inc. is a leading broadband connectivity company and cable operator serving more than 31 million customers in 41 states through its Spectrum brand

Ticker: CHTR | Price: $375.43 | Price Target: $656.86 (+75%) | Timeframe: 2026

📞 Telecommunications | 🏷️ Undervalued | 📈 Bullish Idea

Read the full article here. Read time: 9 min

DAILY SHARES

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