📈 US leads China

☕️ Good morning.

The Fast Five → Alphabet, Microsoft and Meta close at all-time highs, GDP surprises with 3.3% growth last quarter, US extends lead over China in economic race, tech companies slash thousands of jobs pivoting toward AI, and Southwest Airlines removes Boeing Max 7 from 2024 plans…

Your 5-minute briefing for Friday, January 26:

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BEFORE THE OPEN

PRE-MARKET

MARKETS

• US stocks rose thanks to faster-than-expected GDP growth of 2.5% for the full year

• The Dow led indices with a 0.64%

• Asian stocks mostly rose, led by Chinese stocks amid Chinese stimulus

EARNINGS

• Intel shares fell ~11% despite beating Q4 earnings and revenue expectations due to an underwhelming Q1 forecast (link)

• Blackstone reported 4% growth in its Q4 distributable earnings, while net profit from asset sales rose 16% (link)

• American Airlines shares jumped 10% after beating Q4 earnings and revenue expectations and forecasting 2024 profit largely above expectations (link)

• Comcast beat Q4 earnings and revenue expectations and lost fewer broadband subscribers than expected (link)

• What we're watching this week:

  • Today: American Express

• Full calendar here

NEWS BRIEFING

US Extends Lead Over China in Race for World’s Biggest Economy

Alphabet, Microsoft and Meta Close at All-Time Highs Ahead of Earnings Next Week

• US GDP grew 3.3% last quarter, capping unexpectedly strong year (link)

• Jamie Dimon shakes up JPMorgan’s leadership once again (link)

• Tesla erases $80B in valuation after Musk’s sales warning (link)

• Microsoft cuts 1,900 jobs in gaming, including at Activision (link)

• Salesforce laying off 700 workers in latest tech industry downsizing (link)

• ECB holds rates and signals cuts are still some way off (link)

• China signals more targeted stimulus to come (link)

• Dubai’s property boom shows signs of fizzling out (link)

• Hedge fund demands $100M from its compliance team after SEC probe (link)

• Tech companies are slashing thousands of jobs as they pivot toward AI (link)

• Starbucks, Coke boycotts over Gaza War are boosting Middle East rivals (link)

• Riot Games shuts down effort to build a streaming rival to Twitch (link)

• Tech companies are slashing thousands of jobs as they pivot toward AI (link)

• US is investigating GM’s driverless car’s collision with pedestrian (link)

• Trump’s momentum has world leaders bracing for Round Two (link)

• Aramco hunts for Asia deals to boost refining and chemicals (link)

CRYPTO

The SEC delayed its decision on BlackRock and Grayscale Investments’ spot Ethereum ETFs (link)

The UK began design work for a digital version of the pound (link)

You Can Sponsor this Newsletter details here.​

BULLISH BITES

👀 Eye opening: Read the explosive resignation letter sent by the chairman of Sports Illustrated's publisher.

💥 Game-changer: How a lucky break fueled Eli Lilly’s $600 Billion weight-loss empire.

🔎 In the spotlight: The sleepy copyright office in the middle of a high-stakes clash over A.I.

👜 Palm Beach: What the ultra rich wear to the grocery store.

FEATURED TRADES

PayPal: This Could Be The Game Changer

PayPal Holdings, Inc. is an American company operating an online payments system in the majority of countries that support online money transfers, serving as an electronic alternative to traditional paper methods like checks and money orders. The company also owns a range of payment platforms, including Venmo and Braintree.

Ticker: PYPL | Price: $59.97 | Price Target: 101.23 (+69%)

Market Cap: $70B | Timeframe: end of 2024

💸 Fintech/Payments | 📈 Bullish Idea

Read the full article here. Read time: 5 min

DAILY SHARES

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