💼 Irrational optimism?

Fed is sparking irrational market optimism over potential rate cuts, former FDIC Chair warns... your pre-market briefing inside →                                                                                                                                                                                                                                                                                                                                                                                                                 December 18, 2023 | [Read Online]( ☕️ Good Morning. The Fast Five → Fed is sparking [irrational]( market optimism former FDIC Chair warns, gold prices soar to [record highs](, Teamsters authorize [strike]( at Budweiser, [A-Rod’s]( Slam SPAC plans merger with Lynk Global, and Bezos talks plans for a [trillion people]( to live in space stations… Here’s your 5-min briefing for Monday: BEFORE THE OPEN As of market close 12/15/2023. Bitcoin as of 12/17/2023. MARKETS: - Stock futures flat after 7 weeks of index gains. - Dow sets intraday record, Nasdaq 100 hits closing high. - Dow futures up 34 points, S&P 500 adds 0.1%, Nasdaq 100 rises 0.02%. - S&P 500's longest weekly winning streak since 2017, up 3.3% in the month. - Dow and Nasdaq show solid monthly gains of 3.8% and 4.1%. - Investors positive on Federal Reserve's 2024 rate cut hint amid cooling inflation. - Focus ahead on December's business leaders survey and housing market index results. EARNINGS What we’re watching this week: - Tuesday: - [FedEx]( (FDX) - expected: $4.20 per share (+32.1% YoY) on $22.4 billion revenue (-1.8% YoY) - Thursday: - [Nike]( (NKE) - expected: $.84 per share (-.1.2% YoY) on $13.4 billion revenue (+0.8% YoY) Full earnings calendar [here]( NEWS BRIEFING [Fed Sparking Irrational Market Optimism Over Potential Rate Cuts, Former FDIC Chair Sheila Bair Warns]( Bair suggested Fed Chair Powell was irresponsibly dovish at last week’s policy meeting by creating “irrational exuberance” among investors. [Teamsters Vote to Authorize Strike at Budweiser Maker AB InBev]([o]( Union says 5,000 workers at 12 breweries prepared to strike. Teamsters want new contract with improved wages, job security. - UBS CEO tells paper he's not convinced inflation is under control ([more]() - ‘Underwater’ car loans signal US consumers slammed by high rates ([more]() - To trade the Fed’s pivot, Wall Street turns to short-dated debt ([more]() - Bond bulls look to juice 2024 return in obscure niche trades ([more]() - Hedge funds turn bearish on dollar as Goldman sees more declines ([more]() - Gold prices soar to record highs as Federal Reserve takes unexpected dovish turn ([more]() - Oil boon will add extra zip to rally in emerging-market assets ([more]() - US frackers return to haunt OPEC’s pricing strategy ([more]() - Asia shares brace for BOJ meeting, US inflation test ([more]() - China's ban on Apple's iPhone accelerates ([more]() - Recent data shows AI job losses are rising, but the numbers don’t tell the full story ([more]() - Activision Blizzard settles $54M workplace discrimination lawsuit with California ([more]() - Robinhood woos wealthier clients from bigger brokerages ([more]() - Citigroup employees, on edge over layoffs, told they can work remotely until the new year ([more]() - Deloitte is looking to AI to help avoid mass layoffs in future ([more]() - Jeff Bezos discusses plans for a trillion people to live in huge cylindrical space stations ([more]() - Floundering weed stocks test Wall Street’s faith in 2024 rebound ([more]() TOGETHER WITH WISERADVISOR Compare advisors in your area Connect with the best financial advisor for your needs from [WiserAdvisor]( - a free, independent and unbiased matching service. Just answer a few questions and [get matched with 2-3 financial advisors]( in your area today. [Match me with an advisor!]( DEALFLOW M & A | INVESTMENTS: - Abu Dhabi nears deal to buy stake in Turkish port ([more]() - Hong Kong diaper maker Vinda gets $3.35 bln offer from Royal Golden Eagle ([more]() - A-Rod’s Slam SPAC plans merger with Lynk Global ([more]() - Webster Financial Corporation (NYSE: WBS) announced that its subsidiary Webster Bank, N.A., is to acquire Ametros Financial Corp., a custodian and administrator of medical funds from insurance claim settlements, from funds managed by Long Ridge Equity Partners ([more]() - Getir, the Istanbul, Turkey-based grocery delivery company, completed the acquisition of FreshDirect, a NYC-based online grocery company, from Ahold Delhaize, a US food retail group ([more]() - Vensure Employer Solutions, a provider of HR/HCM technology, managed services, and global business process outsourcing, acquired Canadian Payroll Services ([more]() - Mainfactor, an e-commerce-as-a-service and direct-to-consumer acceleration company specializing in the music/entertainment industry, acquired the e-commerce-related sites and assets of Gimme Radio Inc ([more]() - Chobani acquires La Colombe ([more]() - Epiroc buys Stanley Black & Decker’s attachment tools business ([more]() - RMA Companies, a provider of professional services in environmental consulting, geosciences, and materials testing and inspection acquired Rone Engineering, a geotechnical engineering and environmental services firm ([more]() - Trend Health Partners acquires Advent Health ([more]() - Aquiline-backed Relation purchases assets of Kane Insurance Agency ([more]() - The Rise Fund, TPG’s multi-sector impact investing strategy firm, and Investcorp, a global alternative investment firm, signed an agreement together with Stirling Square Capital Partners to acquire a majority investment in Outcomes First Group, a provider of education to people with autism and learning disabilities ([more]() VC - Deep Apple Therapeutics, a company that discovers novel small molecule therapeutics for high-value targets through virtual screening of AI-generated virtual libraries, raised $52M in Series A funding ([more]() - Distributional, a provider of a modern enterprise platform for artificial intelligence (AI) testing and evaluation, raised $11M in seed funding ([more]() - Tetra, a home services company helping homeowners transition from fossil fuels to clean energy, raised $10.5M in Seed funding ([more]() - Neurophos, an AI computation solutions company in a mission to to productize a breakthrough in metamaterials and optical AI inference chips, raised $7.2M in Seed funding ([more]() - Prevu, a provider of a savings-oriented, homebuying platform, raised $6M in Series A funding ([more]() - Redactable, a provider of an AI-driven web application to protect sensitive documents, raised $5.5M in Seed funding ([more]() - SupportPay, a provider of a platform for divorced, single, step, co-parents, and caregivers, raised $3.1M in Seed funding ([more]() - Certainly Health, a healthcare marketplace for booking medical and cosmetic care, raised $2.3M in funding ([more]() Was this briefing forwarded to you? [Sign Up Here]( CRYPTO - The countdown for a Bitcoin ETF decision is approaching a critical deadline ([more]() - Bitcoin at risk of snapping historic winning streak, but 'perfect storm' brews for a strong 2024 ([more]() - Blockchain-based private credit rebounds in crypto with 55% jump in 2023 ([more]() - FTX files plan to end bankruptcy, pay crypto creditors billions ([more]() BULLISH BITES 💙 Besties’ revenge: How the ‘All-In’ podcast [captured]( Silicon Valley. 🎁 Gifting: The 58 new books top business leaders say are [must-reads](. 😱 Disrupted: News publishers see Google’s AI search tool as a [traffic-destroying]( nightmare. 🏡 Watch list: The No. 1 most affordable place to retire in 2024—it’s not in Florida. 💰 Match-maker: Just answer a few questions from WiserAdvisor and [get matched with 2-3 financial advisors]( in your area today, for free — [Try it]( DAILY SHARES [tw profile: High Yield Harry] High Yield Harry @HighyieldHarry [tw] Who took the biggest L this year? Part II (the winners) is out tmrw Dec 17, 2023 525 Likes 24 Retweets 59 Replies [tw profile: Adam Singer] Adam Singer @AdamSinger [tw] Dec 16, 2023 529 Likes 21 Retweets 16 Replies [tw profile: Not Jerome Powell] Not Jerome Powell @alifarhat79 [tw] Smashing capitalism with a $12 Starbucks, $200 Ray-Bans and a $1,500 MacBook Dec 16, 2023 25.8K Likes 1.64K Retweets 1.01K Replies Know someone who would enjoy this? [CLICK TO SHARE 🔥Â]( What did you think about today's briefing? - [⭐️⭐️⭐️⭐️⭐️ Excellent, keep it comin'!]( - [⭐️⭐️⭐️⭐️ Good stuff]( - [⭐️⭐️⭐️ It was alright]( - [⭐️ Needs work]( Like what you see? [Get tomorrow’s briefing here]( Keep the curation going! [Buy the team a coffee]( ☕️ Have a comment or suggestion? We’d love to hear it! 💌 [Send us a message](mailto:hello@marketbriefing.com) [ADVERTISE](mailto:partner@marketbriefing.com) | [SUBSCRIBE]( Disclaimer: MarketBriefing is a news publisher. 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