Welcome Back,

Last newsletter drop for 2023! Hope everyone has a safe and happy holidays ahead. We hope you’ve enjoyed reading through the year. Any positive thoughts, room for improvements or general ideas feel free to email us: [email protected] !

Market Headlines 👀 

• US Consumer conference board consumer confidence came in at 110.7 to end 2023; prev month; 101.

• US existing home sales rose 0.8% in November of five straight months of decreases.

• S&P 500 (SPX) stock rally comes to a halt after a huge run up since October lows.

• Affirm (AFRM) expands partnership with Walmart by bringing its buy now, pay later at self checkout kiosks.

• Bird Global electric scooter company has filed for chapter 11 bankruptcy.

Earnings 💸

• Micron (MU)

  • EPS: $-0.95 beats (exp. $-1.01)

  • Revenue: $4.72b beats (exp. $4.63b)

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S&P 500 Heatmap

Recap Around the Street 🧠

Tech spending and fed pivot has propelled stocks to new highs, largely from multiple expansion while 24’ EPS growth expectations of 11-12% have not shifted much from earlier this year. (Contributed by Benjamin Lavine, CIO at Freedom Investment Management (3D)).

Buyside sentiment has sharply shifted from risk-off (SVB) to risk-on suggesting we’re all short-term momentum chasers now.

Market Preview 🎞️

• Thursday, December 21st: Weekly jobless claims;Q3 Final GDP print; Philadelphia Fed business outlook; Nike earnings

• Friday, December 22nd: Personal income/spending (PCE); Durable goods; University of Michigan sentiment

Enjoy reading?👇

That’s all for this year, folks! We’ll be back next year with a curated list of important news, economic data and market highlights. Hope everyone has a safe and happy holidays!

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