(Spencer Platt/Getty Images) |
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BlackBerry shares spiked yesterday to their highest level since 2023 after the firm said it stopped 600K cyberattacks. That’s pretty good for a company whose FAQ page features q’s like “Does BlackBerry still exist?” and “Do BlackBerry smartphones still work?”
Stocks rallied hard yesterday after news that the core-inflation rate slowed in December. The Nasdaq surged 2.5%, and bitcoin briefly rallied to over $100K after the cooler-than-expected inflation report whetted risk appetites.
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Because that’s where the money is… JPMorgan Chase, Goldman Sachs, Citigroup, and Wells Fargo brought their quarterly #s out of the vault yesterday, and it was a blowout. Investment-banking biggies JPMorgan and Goldman saw profits soar last quarter as dealmaking optimism boomed ahead of Trump’s inauguration. JPM’s profit popped 50% from last year and Goldman’s more than doubled. Citi unloaded a nearly $3B profit, a U-turn from last year’s loss, and Wells Fargo’s net income surged by $1.5B. Shares of all four banks popped on the lucrative reports.
Deal or yes deal… Banks chalked up the banner quarter to a dealmaking drive among clients as private-equity firms gobbled up financing. That, plus expectations around a lighter regulatory touch under Trump, have banks seeing $$. Still, JPM boss Jamie Dimon called out Trump’s plans for deficit spending, suggesting it could drive inflation. Meantime, banks’ net-interest income surged thanks to high rates on credit cards, mortgages, and other loans.
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- Speaking of interest: The Consumer Financial Protection Bureau sued Capital One yesterday, alleging the bank “schemed” to deprive customers of $2B in interest payments from accounts like savings.
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Banks reflect the economy… but may be a funhouse mirror. Broader economic enthusiasm is trickling up to banks’ top and bottom lines. Traders are betting that the Fed will keep cutting rates this year, which in turn may drive an appetite for even more deals and loans. But experts say Trump’s planned tariffs might lead to a spike in inflation, which could rain on the economy’s — and banks’ — parade. |
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As the U.S. economy continues to evolve, companies like Apple, Microsoft, and Nvidia have been at the forefront, shaping the future of key industries. These innovators have accelerated advancements that rippled through the economy, influencing job markets, technological progress and long-term market growth.
The 20 largest U.S. stocks represent $24 trillion in market cap1 — close to the total of the 480 other stocks in the S&P 500 ($29.8T) as well as the entire U.S. economy, measured at $27T in GDP in 2023.2
Through iShares Top 20 U.S. Stocks ETF (TOPT), investors can access multiple sectors with some of the largest most recognizable companies by market capitalization in the U.S — all in a single trade.
Explore how TOPT offers exposure to companies that are defining the next era of economic development. Get exposure to the 20 biggest U.S. stocks with TOPT.* 1 FactSet, S&P Dow Jones Indices for market cap as of Nov. 26 2024.
2 S&P Dow Jones Indices for market cap as of September 23, 2024; Bureau of Economic Analysis for U.S. GDP as of September 26, 2024. |
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As the U.S. economy continues to evolve, companies like Apple, Microsoft, and Nvidia have been at the forefront, shaping the future of key industries. These innovators have accelerated advancements that rippled through the economy, influencing job markets, technological progress and long-term market growth.
The 20 largest U.S. stocks represent $24 trillion in market cap1 — close to the total of the 480 other stocks in the S&P 500 ($29.8T) as well as the entire U.S. economy, measured at $27T in GDP in 2023.2
Through iShares Top 20 U.S. Stocks ETF (TOPT), investors can access multiple sectors with some of the largest most recognizable companies by market capitalization in the U.S — all in a single trade.
Explore how TOPT offers exposure to companies that are defining the next era of economic development. Get exposure to the 20 biggest U.S. stocks with TOPT.* 1 FactSet, S&P Dow Jones Indices for market cap as of Nov. 26 2024.
2 S&P Dow Jones Indices for market cap as of September 23, 2024; Bureau of Economic Analysis for U.S. GDP as of September 26, 2024. |
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Woolier heads prevail… Turns out, making people believe in the magic of “Jurassic Park” is pretty lucrative. De-extinction startup Colossal Biosciences, which aims to revive the woolly mammoth, the dodo, and the Tasmanian tiger, said yesterday that it had raised $200M at a $10.2B valuation (6x what it was worth two years ago). The company uses gene-editing tech including CRISPR to try to reproduce relatives of long-lost organisms.
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- #Goals: Colossal said it's on track to produce a woolly-mammoth calf (well, a gene-edited Asian elephant relative) by 2028. Investors include the CIA’s investment arm, In-Q-Tel, and Paris Hilton.
- Beyond dodos: Colossal’s de-extinction efforts have led to advancements like an elephant vaccine and cellular work that could genetically improve threatened animals’ resistance to toxins.
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One mammoth step for humankind… Colossal isn’t alone in its high hopes for gene-editing’s potential applications. CRISPR and similar tools are being used for everything from agriculture (making sweeter tomatoes) to medicine (fighting antibiotic resistance). In 2023 the FDA approved Casgevy (the first CRISPR-based gene therapy for sickle cell disease) and patients began receiving it last year. The therapy, made by Vertex Pharmaceuticals and Crispr Therapeutics, is now authorized in 45 treatment centers.
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- Big potential: The market for CRISPR genome editing is expected to reach nearly $29B by the end of the decade.
- Big costs: Vertex last reported $2M in quarterly revenue from its first patient for Casgevy, which reflects the massive cost of the therapy in the US.
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The implications are colossal… Gene editing could one day cure hereditary diseases like sickle cell and cystic fibrosis, and eventually eradicate them from the human gene pool. But the tech has raised ethical concerns, from worries of “designer babies” to illegal experiments on humans (see: gene-edited twins). |
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Don’t panic. They’re bringing that stuff you ordered. Read more. |
Yesterday’s Big Daily Movers |
Tesla stock revved up 8% despite declining annual sales and a fresh SEC lawsuit against CEO Musk. Barclays predicted the stock would become even more “disconnected from fundamentals.”
Lululemon shares stretched down, reversing gains from Monday when the athleisure icon raised its Q4 sales and profit outlook.
Robinhood Markets stock rose to its highest level since 2021 after the brokerage firm agreed to a $45M SEC settlement (FYI: Sherwood Media is an independent subsidiary of Robinhood). |
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This tech company grew 32,481%... |
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This tech company grew 32,481%... |
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- The SEC sued Elon Musk, saying that in 2022 he failed to disclose his 5%+ stake in Twitter, which allowed him to buy shares for “artificially low prices.”
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Insured losses from the LA wildfires, which have burned 12K+ structures, are estimated to be as high as $40B.
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The FTC sued tractor icon Deere, accusing it of maintaining a monopoly on repair services for its farm equipment.
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GM signed a multibillion-dollar deal to secure its supply of synthetic graphite, a key component of EV batteries.
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Singapore and Thailand moved to ban blockchain-based prediction market Polymarket. Traders bet billions on the platform during the POTUS election.
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Weekly jobless claims
- Retail sales for December
- Home-builder confidence index
- Earnings expected from TSMC, UnitedHealth Group, Bank of America, Morgan Stanley, PNC Financial Services, Infosys, and JB Hunt Transport
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Authors of this Snacks own bitcoin and shares of: GM, Disney, Tesla, and Robinhood |
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Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... See more |
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