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- 📈 Nvidia's AI Robot Bet
📈 Nvidia's AI Robot Bet
Plus: Syria is free
Good morning & Happy Monday!
We have a lot to get into today. Record-breaking market highs fueled by jobs data, key inflation reports to watch this week, Nvidia and Uber’s bold AI bet, a surge in CEO exits, and why luck might play a bigger role in wealth than you think. Plus, major shifts in Syria and quick updates on Amazon, China, and more.
Grab your Americano and let's get into it! ☕️👇️
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Markets
📈 S&P 500, Nasdaq Hit Record Highs After Jobs Data
Stocks climbed Friday as employment data met expectations, boosting confidence in the economy and reinforcing hopes for another Federal Reserve rate cut. The S&P 500 and Nasdaq rose 0.3% and 0.8%, respectively, hitting record highs, while the Dow slipped 0.3% after earlier gains faded.
🔑 2 key inflation prints loom ahead of Fed rate cut decision
All eyes are on Wednesday's Consumer Price Index (CPI) report, followed by Thursday's Producer Price Index (PPI), as markets assess the Federal Reserve's next steps. This week’s data is a crucial milestone for an expected December rate cut.
🤔 Nvidia and Uber Backing This Tiny $400 million AI Company
Nvidia and Uber jointly hold over 20% of Serve Robotics, a $500 million company specializing in autonomous delivery robots. Their significant stake signals confidence in Serve’s future potential. If you’re eyeing this stock, here’s everything you need to know.
💼 2024 Has Been a Record Year for CEO Changes
This year has seen a wave of high-profile CEO exits, with over 1,800 departures reported, the most ever recorded year-to-date. Leaders from companies like Intel, Nike, Starbucks, and Campbell’s have stepped down, citing reasons from underperformance to career changes, including a surprising NFL pivot by Campbell’s former CEO. So why is this happening?
🤞 How One Lucky Financial Break Can Change Everything For Good
In a recent blog post, Financial Samurai argues that 60%-70% of above-average wealth stems from luck, not skill. Failing to recognize this can breed overconfidence, leading to poor decisions and potential financial ruin. The takeaway? Stay humble and mindful of the economic breaks that contribute to success.
Quick News
Amazon's shareholders are urging the company to take a page from MicroStrategy's playbook by diversifying its reserves into Bitcoin.
Donald Trump said in an interview aired on Sunday he will not try to replace Federal Reserve Chair Jerome Powell.
Lululemon ’s U.S. growth is continuing to slow, but the athletic apparel retailer is making big gains abroad, leading to a 9% increase in sales year over year.
China’s leaders on Monday pledged “more proactive” fiscal measures and “moderately” looser monetary policy next year to boost domestic consumption, for the first time in over a decade.
Premier Art Holdings and Chintai Nexus Launch $50M+ Tokenized Fine Art Fund.
In a shocking turn of events, Islamist militant group Hayat Tahrir al-Sham (HTS) and allied rebel factions have overthrown President Bashar al-Assad’s regime in Syria.
The offensive began just 12 days ago, with rebels swiftly seizing Aleppo, Syria’s second-largest city, before advancing south to Damascus. On Sunday, as rebels entered the capital, Russia confirmed Assad had fled the country. His whereabouts remain unknown.
Crowds in Damascus celebrated the end of more than 50 years of Assad family rule, marking a seismic shift in the region. However, markets reacted with surprising calm.
Gold and oil prices edged up by just 0.4%, indicating uncertainty as traders assess the broader Middle Eastern landscape. Geopolitical implications are significant. The loss of Assad deprives Russia and Iran of a crucial ally, potentially realigning power dynamics. Meanwhile, Turkey and Israel are seen as major beneficiaries of the regime’s collapse.
Oil prices rose amid renewed focus on the region’s stability, signaling concerns about Middle Eastern supply security. The fall of Assad may prove to be one of the most transformative events in modern Middle Eastern history, but what happens next is yet to be known.
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