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Market Headlines 👀 

• US President Biden met with China leader Xi today in California.

• US weekly jobless claims come in at 231k; higher than 220k estimate.

• Microsoft (MSFT) discusses its future with Nvidia, generative AI, chips and more at its Ignite 2023 conference.

• Microsoft (MSFT) announces it will bring its Copilot AI chatbot to Windows 10.

• BlackRock (BLK) files for a spot Ethereum etf.

• Amazon (AMZN) to start selling vehicles through its platform, announces partnership with Hyundai.

• Lucid Motors (LCID) announces its three row Gravity SUV to go into production late 2024.

Earnings 💸

• Alibaba (BABA)

  • EPS: $2.14 beats (exp. $2.09)

  • Revenue: $30.8b misses (exp. $31b)

• Walmart (WMT)

  • EPS: $1.53 beats (exp. $1.52)

  • Revenue: $160.8b beats (exp. $159.7b)

• Macys (M)

  • EPS: $0.21 beats (exp. $0.01)

  • Revenue: $5b beats (exp. $4.8b)

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S&P 500 Heatmap

Recap Around the Street 🧠

Max pain trade at the beginning of quarter was the recovery of financial assets or the classic 60/40. Much of the trading world was leaning to the short side across financial assets. Immaculate disinflationary playbook now playing out causing a crash in yields. Will equities hold up following the sharp MTD advance?(Contributed by Benjamin Lavine, CIO at Freedom Investment Management (3D)).

Market Preview 🎞️

• Friday, November 17th: Monthly options expiration (OPEX); Housing starts; Building permits

• —> 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!

Enjoy reading?👇

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

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