📈 Irrational optimism?

☕️ Good Morning.

The Fast Five → Fed is sparking irrational market optimism former FDIC Chair warns, gold prices soar to record highs, Teamsters authorize strike at Budweiser, A-Rod’s Slam SPAC plans merger with Lynk Global, and Bezos talks plans for a trillion people to live in space stations…

Here’s your 5-min briefing for Monday:

BEFORE THE OPEN

MARKETS

• US stocks mostly rose, closing out their seventh-straight winning week on the back of a Fed-sparked rally

• The Nasdaq rose 0.4%, while the S&P fell 0.01%

EARNINGS

• What we're watching this week:

  • Today: Heico

  • Tueday: FedEx, Accenture 

  • Wednesday: General Mills, Micron, MillerKnoll, BlackBerry

  • Thursday: Nike, Carnival

• Full calendar here

NEWS BRIEFING

Fed Sparking Irrational Market Optimism Over Potential Rate Cuts, Former FDIC Chair Sheila Bair Warns

Teamsters Vote to Authorize Strike at Budweiser Maker AB InBevo

• UBS CEO tells paper he's not convinced inflation is under control (link)

• ‘Underwater’ car loans signal US consumers slammed by high rates (link)

• To trade the Fed’s pivot, Wall Street turns to short-dated debt (link)

• Bond bulls look to juice 2024 return in obscure niche trades (link)

• Hedge funds turn bearish on dollar as Goldman sees more declines (link)

• Gold prices soar to record highs as Federal Reserve takes unexpected dovish turn (link)

• Oil boon will add extra zip to rally in emerging-market assets (link)

• US frackers return to haunt OPEC’s pricing strategy (link)

• Asia shares brace for BOJ meeting, US inflation test (link)

• China's ban on Apple's iPhone accelerates (link)

• Recent data shows AI job losses are rising, but the numbers don’t tell the full story (link)

• Activision Blizzard settles $54M workplace discrimination lawsuit with California (link)

• Robinhood woos wealthier clients from bigger brokerages (link)

• Citigroup employees, on edge over layoffs, told they can work remotely until the new year (link)

• Deloitte is looking to AI to help avoid mass layoffs in future (link)

• Jeff Bezos discusses plans for a trillion people to live in huge cylindrical space stations (link)

• Floundering weed stocks test Wall Street’s faith in 2024 rebound (link)

CRYPTO

US regulators must finally decide whether to approve a physically-backed Bitcoin ETF on January 10 (link)

SEC denied a request from Coinbase for tailored crypto regulations (link)

BULLISH BITES

💙 Besties’ revenge: How the ‘All-In’ podcast captured Silicon Valley.

🎁 Gifting: The 58 new books top business leaders say are must-reads.

😱 Disrupted: News publishers see Google’s AI search tool as a traffic-destroying nightmare.

🏡 Watch list: The No. 1 most affordable place to retire in 2024—it’s not in Florida.

FEATURED TRADES

Tiptree Inc. is a diversified holding company, with a primary interest in specialty insurance through its majority stake in Fortegra, as well as other non-insurance financial assets. They focus on acquiring or investing in niche companies, specifically in the insurance sector and other selected markets, utilizing balance sheet capital to drive growth.

Ticker: TIPT | Price: $18.73 | Price Target: $31.37 (+67%) | Timeframe: N/A

💼 Holding Company | 💸 Specialty Insurance | 📈 Bullish Idea

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