Stocks surged to fresh records as a post-election rally extended gains following the Fed's latest interest rate cut.
The S&P 500 and Nasdaq Composite hit new all-time highs, rising 0.7% and 1.5%, respectively. The Dow traded flat.
Weekly jobless claims rose marginally by 3,000 to 221,000.
Fed Chair Powell issued a 0.25% rate cut, setting the target rate to 4.5%-4.75%, marking its second cut in seven weeks.
President-elect Donald Trump named campaign manager Susie Wiles as his incoming White House chief of staff as the first woman to hold the position.
🧠 Make yourself heard
Quiz time.
$DJT has been a proxy for Trump’s popularity over the last several months. So, how did the stock do Wednesday after it became clear the former President won the election?
Scroll down for the answer once you’ve had your say.
Stellantis announced plans to lay off 1,139 workers at its Toledo Jeep plant.
🌍 Global Perspectives
🇺🇸🇧🇷 President Biden will make history as the first sitting US president to visit the Amazon.
🇨🇺 A nationwide blackout struck Cuba after Hurricane Rafael's 185km/h winds forced 70,000 evacuations and devastated the power grid.
🇦🇷 Three people face charges related to former One Direction star Liam Payne's fatal fall from a Buenos Aires hotel.
🇦🇺 Mysterious “fatbergs” containing human waste and various pollutants have begun washing up on Sydney's beaches.
📊 Crypto
North Korean hackers launched Hidden Risk malware campaign targeting crypto firms through sophisticated macOS attacks.
AI startup Pond raised $7.5 million in seed funding from Coinbase Ventures and others.
Sunray Finance lost $2.7 million after attackers minted 200 sextillion tokens through a contract upgrade exploit.
Could this be the biggest disruption to Smartphones in the past 15 years? 📲
💥Heads up! There's a new disruptor in smartphones: Mode Mobile. Mode can turn your phone from a cost into an income source — and investors are watching the launch of the company’s pre-IPO offering.1
🤳Mode saw 32,481% revenue growth from 2019 to 2022, ranking them the #1 overall software company on Deloitte’s most recent fastest-growing companies list. Mode’s flagship product EarnPhone, a budget smartphone, has already helped consumers earn & save $325M+.
🫴 Mode’s Pre-IPO offering1 is live at $0.25/share — 20,000+ shareholders already participated in its previous sold-out offering. There’s still time to get in on Mode’s pre-IPO raise and even lock in 100% bonus shares2 … but only until their current raise closes for good.
1 Mode Mobile currently has no formal plans for an IPO. 2 A minimum investment of $1,950 is required to receive bonus shares. 100% bonus shares are offered on investments of $9,950+. 3 Please read the offering circular and related risks at invest.modemobile.com. This is a paid advertisement for Mode Mobile’s Regulation A+ Offering. Past performance is no guarantee of future results. Start-up investments are speculative and involve a high degree of risk. Those investors who cannot afford to lose their entire investment should not invest in start-ups. Companies seeking startup investment tend to be in earlier stages of development and their business model, products and services may not yet be fully developed, operational or tested in the public marketplace. There is no guarantee that the stated valuation and other terms are accurate or in agreement with the market or industry valuations. Further, investors may receive illiquid and/or restricted stock that may be subject to holding period requirements and/or liquidity concerns. DealMaker Securities LLC, a registered broker-dealer, and member of FINRA | SIPC, located at 105 Maxess Road, Suite 124, Melville, NY 11747, is the Intermediary for this offering and is not an affiliate of or connected with the Issuer. Please check our background on FINRA's BrokerCheck.
🎤 What you said last time
What you had to say:
“We’re fucked.”
🧠 Errata
There was a great escape in South Carolina as 43 young primates fled a research lab through a door left open by a new employee.
Global temperatures breached 1.5C above pre-industrial levels for the first time in a calendar year.
An Australian man found unwanted toilet guests twice in one week when pythons slithered up through his plumbing.
📺 What to Watch Today
Dozens of monkeys escape South Carolina research facility, residents warned to lock doors, windows
That’s all for today. Did I miss anything? Smash the reply button to let me know.