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Elon Musk Says F*** You To Disney Live
Musk flips out | Tesla Cybertruck major news | Bill Ackman current market views
Welcome Back,
Market Headlines 👀
US October PCE comes in at 3% YoY; est: 3%.
US Q3 GDP second estimate came in at 5.2%; est: 5.0%.
Eurozone CPI comes in at 2.4%; est 2.7%. Unemployment at 6.5% in line with expectations.
US weekly jobless claims come in at 218k; est: 220k.
X (TWTR) CEO Elon Musk publicly curses off advertisers leaving Twitter at the Dealbook summit.
Tesla (TSLA) officially starts delivery of its Cybertruck today and releases spec details for mass release.
Pershing Holdings CEO Bill Ackman believes the Fed will cut rates sooner than the market thinks.
OpenAi officially reinstates Sam Altman as CEO and revises the board, which will include Microsoft as a non-voting observer.
Robinhood (HOOD) announces they will launch in the UK after multiple failed attempts.
Alphabet (GOOGL) announces they will begin deleting old gmail accounts as of this Friday.
Sofi technologies (SOFI) announces it will leave the cryptocurrency business completely.
Earnings 💸
Marvell (MRVL)
EPS: $0.41 beats (exp. $0.40)
Revenue: $1.42b beats (exp. $1.4b)
Ulta Beauty (ULTA)
EPS: $5.07 beats (exp. $4.96)
Revenue: $2.49b beats (exp. $2.47b)
UiPath (PATH)
EPS: $0.12 beats (exp. $0.07)
Revenue: $326m
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S&P 500 Heatmap
Recap Around the Street 🧠
The second revision to Q3 GDP is perceived as ‘lower quality’ since it was driven by inventory builds (supply) versus demand driven measures like personal consumption.(Contributed by Benjamin Lavine, CIO at Freedom Investment Management (3D)).
Source: Bloomberg
Street estimates SPX for :
Bank of America: 5000
Goldman Sachs: 4600
Morgan Stanley: 4500
JP Morgan: 4200
Source: Bloomberg
Market Preview 🎞️
Friday, December 1st: S&P global US manufacturing PMI; construction spending; ISM manufacturing
—> 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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