The Canadian market (TSX) followed and closed 0.82% thanks to a lower inflation reading & hints of an interest rate pause.
h3 Black Friday soars to a record high with buy now pay later/h3
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Amazon (NASDAQ:AMZN) announced that its extended Black Friday and Cyber Monday event was its biggest ever, surpassing last year's sales. The average person spent $533 on Black Friday, but with Buy Now Pay Later, they spent 48% more than others.
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The best-selling categories were electronics, toys, and gaming. Buy Now Pay Later usage hit an all-time high on Cyber Monday, contributing $940 million in online spending.
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$BNS (TSX:BNS) miss earnings , Eps est. 1.65 vs 1.26 actual , revenue est. 8.2B vs 8.3B
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$ATD (TSX:ATD) beats earnings, EPS est 1.09 vs 1.14, revenue est 22.6B vs 22.79B
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$BMO (TSX:BMO)est 2.87 v 2.81 reported Revenue est 8.26B v 8.23B reported double miss raises dividend
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$NA (TSX:NA)est 2.26 v 2.44 reported Revenue est 2.64B v 2.75B reported raises dividend
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$RY (TSX:RY) est 2.62 v 2.78 reported Revenue est 13.18B v 12.94B raises dividend
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$TD (TSX:TD) est 1.90 v 1.83 reported Revenue est 12.36B v 13.19B raises dividend
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$CM (TSX:CM) est 1.53 v 1.57 reported Revenue est 5.94B v 5.84B raises dividend
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h2 Insider Trades /h2
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Sells by executives isn’t always a red flag, people can sell for many reasons. But people only buy for one reason. I share more insider sales in my discord Bdinvesting.org.
Even though insiders have sold millions in AMZN shares , the price of the stock hasn’t been affected. If anything the stock price has risen vs insider sells.
h3 On the Radar/h3
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Kim Kardashian plans to take her clothing company, SKIMS, public via an IPO at a $4 billion valuation next year. Skims has recently partnered with Fendi and has become the official underwear partner for the NBA, WNBA, and USA Basketball.
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Most people are bearish on SKIMS because Kim Kardashian owns it but not me. This year's revenue is projected to reach $750 million, a 50% increase from last year's $500 million.
Skim’s 2024 revenue will be way higher than 2023 since they just released a men's line and almost everything sold out on the first day, with over 10 million people waiting to buy! Skims has the potential to achieve annual revenue of $6 billion over the next ten years. Kim K is the perfect example of CEO people love and she’s a brand herself. Meaning people will buy whatever she releases.
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h2 Goldman Sachs (NYSE:GS) ends partnership with Apple (NASDAQ:AAPL) on credit card due to over $1 billion loss last year./h2
h3 Headlines you need to know /h3
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Black Friday shoppers spent a record $9.8 Billion online according to Adobe (NASDAQ:ADBE) Analytics
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Gold hits new all time highs
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CHINA BASED SHEIN & REDDIT TO GO PUBLIC NEXT QUARTER
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Mastercard (NYSE:MA)SAYS E-COMMERCE SALES HIT A NEW ALL TIME HIGH
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AMZN has announced new chatbot Q for business
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AMAZON: SIGNED CONTRACT WITH SPACEX FOR THREE FALCON 9 LAUNCHES
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CYBERTRUCK DELIVERIES STARTED ON THURSDAY
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Honda (NYSE:HMC) is recalling 300,000 of its most popular cars due to a dangerous defect
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Mark Cuban is selling a majority stake of the Dallas Mavericks for $3.5 billion
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$AMZN ANNOUNCES NEW AI CHIP AS IT DEEPENS NVIDIA (NASDAQ:NVDA) $NVDA RELATIONSHIP
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Elon Musk tells advertisers who are trying to ‘blackmail’ him: "Go f-ck yourself"
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Disney (NYSE:DIS) is bringing back its dividend after cutting it at start of the pandemic
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JJPMorgan (NYSE:JPM) predicts the S&P 500 to decline approximately 8% from its current level.
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Uber (NYSE:UBER) to join s&p500
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TEXAS HAS SUED Pfizer Inc (NYSE:PFE)FOR MISREPRESENTING THE EFFECTIVENESS OF IT’S COVID-19 VACCINE
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h3 Crypto Corner/h3
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Bitcoin hits 39k !
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MicroStrategy (NASDAQ:MSTR) , Michael Saylor now holds 174,530 BTC bought at an average of about $30,252 per coin. (might not be too late)
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US JUDGE TOLD BINANCE CEO, CZ CANNOT LEAVE AMERICA AHEAD OF HIS SENTENCING
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Cristiano Ronaldo sued for promoting #Binance
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FTX has been approved to start selling $744 million in Grayscale assets, per Bloomberg.
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Binance to delist & end support for its Binance USDstablecoin in December 2023.
h3 Oh Canada /h3
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TD to lay off 3000 workers CIBC to lay off 2400 per CBC
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Average home price in Canada has risen to $656,625 CAD as monthly sales slow, per CREA.
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International students in Canada will be restricted to a 20-hour work week, per the Globe.
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Millennials in Canada had largest drop in homeownership rates over a decade, per Bloomberg.
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Owning a Toronto condo yields 3.9% after mortgage/expenses, less than the 5% from a Government of Canada treasury bill, according to BMO
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Canadian Government has reached a deal with Google (NASDAQ:GOOGL) over the Online News Act following threats to remove news from its search platform
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Google will make annual payments to news companies in the range of $100 million.
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Jobless rate rises to 5.8%, economy adds modest 25,000 jobs in November
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Manufacturing and construction saw the largest gains in employment
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Average hourly wages continued to grow quickly – rising 4.8 per cent from a year ago
h3 Economics /h3
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The US economy keeps getting stronger with a 5.2% reading in the GDP meanwhile Canadas GDP stays stagnant. I do expect a rate cut in both countries to happen near March. Maybe earlier for Canada since we need a stimulus in the economy.
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Federal Reserve suggests interest rate hikes are likely over but remains open to further tightening if inflation progresses ,yet markets indicate otherwise. Odds of a March rate cut increase.
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Bill Ackman bets the Fed will cut interest rates as soon as next year's first quarter.
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Declining US rent prices are expected to lower inflation
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Biden: this year's Thanksgiving dinner was historically inexpensive due to his policies
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POWELL: I HAVE BEEN SURPRISED ON THE UPSIDE THIS YEAR WITH INFLATION COMING DOWN MEANINGFULLY BUT GROWTH AND JOBS CONTINUING.
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POWELL: FED POLICY RATE IS 'WELL INTO RESTRICTIVE TERRITORY & PREPARED TO TIGHTEN MORE
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93% of homebuyers have regrets about purchasing a house in 2023, per Yahoo
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FED'S BARKIN: 5.2% GDP TELLS BUSINESSES THAT THEY CAN KEEP TRYING TO RAISE PRICES.
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JPMORGAN CEO JAMIE DIMON: THINK THERE'S A HIGHER CHANCE OF ANOTHER RATE HIKE
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JAMIE DIMON NOTES HE DOESN'T THINK A CHINA-TAIWAN WAR WILL HAPPEN
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The typical American household needs an extra $11,434 annually to maintain their current standard of living (CBS News).
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Inflation in the Eurozone cooled to 2.4% , Europe stocks were up
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h3 BD investing Discord /h3
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This week we went 2/3. I got my first loss in 2 months on Disney. We traded TSLA & $C. We are still holding 3 trades from last week. TSLA gave us 20% & $C gave us 90% We also got 300% on $ULTA earnings play ! (Gamble!)
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In November we went 12/13 on our trades, still keeping our 92% win rate Join me at bdinvesting.org
h3 Meme Spot/h3
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