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💩 But analysts expect GM to have a no good very bad day today. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

January 30, 2024 | Read Online

Wyatt from Stocks and Income
January 30, 2024

🎨 Later today, you’ll get an investment memo about an art opportunity we’re putting together. Keep an eye out for it if that’s your thing.

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📰 Market Headlines

Both the Dow and S&P hit record highs again yesterday, but the Nasdaq surged most.

Today is a big one for data nerds like me. A reminder of what’s on tap:

Consumer confidence. Estimates are 113, up three points from December, which feels off.

Job openings. Estimated 8.7 million, down 100k from November.

GM reports earnings before the bell, and analysis expect a 10% decline in revenue and a 45% hit on earnings. Brutal. Any misses will be attributed to last year’s strike. UPS reports before the bell as well, while Starbucks comes after the close.

Per CNBC, “Of the nearly one-quarter of S&P 500 members that have already reported [earnings in 2024], about 72% exceeded Wall Street expectations.”

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🕶️ Market Vibes

🎰 Market Forecasts and Futures

😱 Fear and Greed Index

🧠 What do you think?

Please help me settle a disagreement.

Best baseball movie ever?

Bonus points for getting each emoji reference.

💡 The Natural

🌽 Field of Dreams

🐎 Pride of the Yankees

👓 Major League

🐂 Bull Durham

🎤 What you said last time

Very divided response to this one, which isn’t too surprising; the yes votes had way more opinions than the nays.

Fingers crossed all around that no one has to go to war.

💣 Yes, light 'em up

“War is not good for anyone; peace needs to be in place throughout the world. If world leaders want to fight. Put them in a ring. Let them do it that way. Maybe if they knew they would have to fight they might want peace. Instead of letting others fight for them.👍”

“Bullies and thugs only know ONE thing: POWER. When we stomp on some of their POWER, they will back off. They do not, and never have, responded positively to talk, dialog, and best wishes for peace. Kick some part of their ass.”

📈 Trends you need to know

Search results are from our friends at Glimpse, my favorite way to spot trends.

Maybe people are just getting better at gifts and need less help these days, but this search traffic doesn’t paint a promising picture for retail sales this Valentines’ Day.

📊 Stocks

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Winners and losers

Earnings, upgrades, and acquisitions

Amazon bailed on its $1.7 billion acquisition of iRobot after the EU refused to approve the deal, causing the hoover-maker to lay off 350 people. iRobot shares were down 10%.

Market movers

Flyers trust Boeing 12% less than they did before the company’s aircraft began falling out of the sky. Seems low.

French carmaker Renault canceled plans to spin off its EV unit. Shares were up 5%.

Eli Lilly’s obesity shot, Zepbound, is expected to be the best-selling drug of all time.

REI is laying off 350 employees.

Walmart is paying some store managers more than $400,000 per year. Its truck drivers do pretty well, too.

US Steel is settling a $42 million lawsuit to make clean air accusations go away ahead of the company’s acquisition by Nippon Steel.

HSBC was fined £57.4 million ($72.8 million) by the Bank of England for "serious failings" over its requirements to protect customer deposits.

Ideas, trends, and analysis

The best time to invest in the markets? When they’re at all-time highs.

Despite the narrative, EV sales were up 46% in the US last year.

The case for a further 10% stocks surge.

American casino spending is going parabolic.

Wells Fargo thinks the US economy is about to “cool considerably.”

On the other hand, the National Association of Retailers is forecasting a record Valentine’s Day.

🌍 Global Perspectives

🇮🇳 India could be the world’s third-biggest economy by 2027.

🇸🇦 Saudi Arabia is scrapping its plans to increase oil production.

🇻🇳 VinaCapital expects 6% to 7% growth in Vietnam this year. I once nearly opened a dive shop in Hội An.

🇷🇺 🇺🇦 Both Moscow and Kyiv reported drone attacks this morning.

🇿🇼 Zimbabwe can’t stop minting new millionaires.

🇵🇰 Former Pakistani national cricket captain and Prime Minister Imran Khan was sentenced to ten years in prison on charges of leaking state secrets.

📊 Income

The US Treasury Dept is trying to push down yields.

Comparing long-term treasury ETFs.

📊 Crypto

The DOJ announced criminal charges against two people and the guilty plea of a third person for orchestrating a $1.9 billion cryptocurrency fraud scheme known as HyperFund.