šŸ“ˆ Nvidia Bursts Quantum Bubble

Plus: Today's Job Report

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Journals GG
January 10, 2025

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Good morning & Happy Friday!

From todayā€™s big job report to Nvidia shaking up quantum stocks and California's fire-driven insurance crisis, we've got you covered.

Grab your Flat White and let's get into it! ā˜•ļøšŸ‘‡ļø

Markets

šŸ“ƒ Todayā€™s Job Report - What to look out for
The December jobs report is expected to reveal slower hiring with a steady unemployment rate, stirring market anxieties. Bank of America strategists warn the "good news is bad news" mindset has returned, where strong job numbers could drag stocks lower. Still, Michael Arone of State Street Global Advisors offers a brighter outlook, emphasizing long-term growth. "If the economy and earnings keep growing, the market can move higher," Arone told

šŸ‡ŗšŸ‡ø Nvidia Slams Biden for Trying to ā€˜Preemptā€™ Trump With Policy
Nvidia slammed upcoming chip export restrictions, accusing the Biden administration of undermining the incoming Trump administration with last-minute rules. The new measures would tighten AI chip sales by country and company, restricting exports globally as part of the US strategy to curb China's and Russia's tech access. ā€œItā€™s absurd to control widely used data-center and gaming PC technology under the guise of an anti-China move,ā€ Nvidiaā€™s spokesperson, Finkle, argued.

šŸ”„ California overhauled its insurance system. Then Los Angeles caught fire
A fierce Santa Ana windstorm sparked a devastating brush fire in Los Angelesā€™ Pacific Palisades on Tuesday, which has scaled into a huge catastrophe. This disaster adds strain to Californiaā€™s home insurance market, already battered by years of climate-driven wildfires.

Insurers, reeling from historic fires in 2017 and 2018, have slashed coverage in high-risk areas and hiked rates, testing their willingness to stay in the state.

šŸ¤Æ Quantum computing stocks tank as Nvidia CEO Jensen Huang predicts the tech won't be viable for another 20 years
Nvidia CEO Jensen Huang sent shockwaves through the quantum computing sector, tanking stocks by over 40% with his cautious outlook. Huang told Reuters that quantum computersā€™ real usefulness is likely two decades away, stating, "If you said 15 years, that's early; 30 years, late. But 20? Most would agree."

His remarks wiped over $8 billion in market value from companies like Rigetti Computing, D-Wave Quantum, Quantum Computing Inc., and IonQ, rattling investors.

šŸŖ– Why Wall Street Thinks Palantir Stock Will Plunge 34% in 2025
Palantir Technologies had a blockbuster 2024, with its stock surging 340%, fueled by its inclusion in the S&P 500 and Nasdaq-100. But Wall Street isnā€™t as optimistic about 2025, forecasting a potential 34% drop for the AI and data analytics firm. Meanwhile, analysts are eyeing another AI stock they expect to soar 55% this year.

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