📈 Rally mode continues

☕️ Good Morning.

The Fast Five → Wall Street’s optimism isn’t stopping, shippers have diverted $35 billion in cargo amid fears of attacks, Colorado Supreme Court disqualifies Trump from ballot, Citi suit raises #metoo claims at the top levels, and IRS to waive $1 billion in penalities for people owing back taxes…

Here’s your 5-min briefing for Wednesday:

BEFORE THE OPEN

MARKETS

• US stocks rose thanks to the Fed’s recent dovish shift on rates

• The Dow led indices with a 0.68% gain

• European stocks rose after comments from European Central Bank officials and data encouraged optimism for rate cuts

• Oil futures continue to climb due to Red Sea shipping risks

EARNINGS

• FedEx shares tumbled ~8% after lowering its revenue forecast due to weaker demand (link)

• What we're watching this week:

  • Today: General Mills, Micron, MillerKnoll, BlackBerry

  • Thursday: Nike, Carnival

• Full calendar here

NEWS BRIEFING

Wall Street's Stock-Market Optimism Isn't Stopping

Shippers Diverted About $35 Billion in Cargo From the Red Sea Amid Fears of Attacks

• Wall Street’s dramatic year ends with flat bonuses for traders (link)

• Colorado Supreme Court disqualifies Trump from 2024 ballot (link)

• IRS to waive $1 billion in penalties for people and firms owing back taxes (link)

• Asia stocks to track Wall Street’s year-end rally (link)

• Key Japan yield falls to August low as BOJ keeps market guessing (link)

• Citi suit raises #MeToo claims at Wall Street’s top levels (link)

• U.S. Bank to pay $36 million for illegal pandemic conduct (link)

• Google to pay $700 million to U.S. consumers, states in Play store settlement (link)

• Southwest Airlines, pilots’ union reach labor deal after contentious talks (link)

• Toshiba to be delisted after 74 years, faces future with new owners (link)

• Porsche, Volkswagen, and Audi finally say they will use Tesla's EV charging plug (link)

• Tesla drivers had highest accident rate, BMW drivers most DUIs study finds (link)

• Goldman Sachs overhaul and what it could mean for David Solomon and John Waldron (link)

• Media and telecom companies unlikely to usher in good tidings for 2024 (link)

• GM has cut its Buick dealership network in half through buyouts (link)

• Target blamed theft and violence for 9 closures. Crime is higher at stores it kept open nearby (link)

• As golden age for private capital ends, 2024 heralds more consolidation (link)

CRYPTO

• Do Kwon will not be imminently extradited to either the US or South Korea after a Montenegro appeals court annulled an earlier ruling (link)

• Bankrupt crypto exchange FTX Trading announced a settlement with liquidators for FTX's Bahamas unit (link)

BULLISH BITES

🚫 Don’t speak: Jeff Bezos describes his perfect meeting.

⏎ Back at it: Why Flexport CEO Ryan Petersen took his company back.

📈 Big bets: Where to invest in future trends.

🔮 Age of AI: 8 predictions for AI in 2024.

FEATURED TRADES

Increased my $TMDX position by +50%.

TransMedics Group, Inc. provides organ transplant therapy services designed to enhance the organ transplant process through its Organ Care System. This system keeps donor organs functioning outside the body, increasing their viability and expanding the geographic range of available organs.

Ticker: TMDX | Price: $77.50 | Price Target: $155 (+100%) | Timeframe: 3 years

🩺 Organ Transplant | ⬆️ Growth | 📈 Bullish Idea

Read the full article here. Read time: 2 min

DAILY SHARES

Keep the curation going! Buy the team a coffee ☕️

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