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Market Headlines 👀 

• US retail sales for November came in at +0.3% MoM; est: -0.01%.

• US House Representatives have passed a new $886b defense bill.

• US Federal Reserve held rates in their latest FOMC meeting yesterday and project three rate cuts for 2024 as of now.

• European Central Bank (ECB) holds its interest rates again and lowers inflation forecast.

• US Federal Reserve rate decision announcement is due tomorrow at 2pm EST, followed by remarks from Fed Chair Powell.

• Apple (AAPL) could be facing a major fine in the EU over its app store rules for music streaming apps.

• Intel (INTC) announces a new AI chip to compete with Nvidia and AMD.

• X (TWTR) wants to start a university in Austin and will be opening a new school through his foundation.

Earnings 💸

• Costco (COST)

  • EPS: $3.58 beats (exp. $3.43)

  • Revenue: $56.72b misses (exp. $57.79b)

S&P 500 Heatmap 🔥

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Recap Around the Street 🧠

The Fed has green lit a full court press of financial risk on, hoping that the re-ignition of financial risk assets and lending conditions won’t spill over into hard assets (think commodities) and a much weaker dollar. The latter presents 2nd wave inflation risk but expect the Fed and Wall Street to deflect any hard asset rallies as posing 2nd wave risk. (Contributed by Benjamin Lavine, CIO at Freedom Investment Management (3D)).

An exclusive note for our subscribers on the markets Katie Stockton, CEO at Fairlead Strategies:

Market Preview 🎞️

• Friday, December 15th: Quad witching options

• —> Podcast spotlight: Pounding the Table 👊 : listen now; where you will find in-depth analysis around these highlights, read company deep dives, and interviews with public CEO's!

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That’s all for this week, folks! We’ll be back around the same time next Monday with a curated list of important news, economic data and market highlights. 

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