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Market Headlines 👀 

• US CPI monthly report is set to release this Wednesday, a key datapoint ahead of the next Fed Funds meeting. PPI comes out Thursday!

• Uber (UBER) is partnering with Chinese autonomous vehicle maker WeRide to introduce robotaxi services in Abu Dhabi.

• US bond traders race to bet on upcoming December and January rate cuts.

• Amazon (AMZN) announces it will bring Intuit Quickbooks integrating with their e-commerce platform making it easy for sellers to utilize software for expense tracking and more.

• Reddit (RDDT) announces it is testing a new AI feature to help users to help users in finding answers quicker.

Earnings 💸

• MongDb (MDB)

  • EPS: $1.16 beats (exp. $0.69)

  • Revenue: $529.4m beats (exp. 495.72m)

• Oracle (ORCL)

  • EPS: $1.47 misses (exp. $1.48)

  • Revenue: $14.06b misses (exp. 14.14b)

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S&P 500 Heatmap 🔥 

Recap Around the Street 🧠

The Real Fed Funds Rate (Fed Funds minus Core CPI) has only been positive since May of 2023. This is what the Fed cites as their primary reason to cut rates, meaning high Real Fed Funds will weigh on growth. But ever since May 2023, the U.S. economy has grown above trend!(Contributed by Cameron Dawson, CIO at NewEdge Wealth).

Updated implied rate curve as of 12.5. This also accounts for Trump’s US Treasury secretary pick - Scott Bessent.

Market Preview 🎞️ 

• Tuesday, December 10th: Productivity revised, unit - labor costs revised

• Wednesday, December 11th: MBA mortgage applications; Consumer price index (CPI) data

• Thursday, December 12th: Weekly jobless claims; Price producer index (PPI) data

Enjoy reading?👇

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

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