Quote of the day

“The biggest risk of all, is not taking one.”- Mellody Hobson

Bullish week 🤑

🚀 This week, the market rebounded due to strong earnings, the Fed pausing rates, and J Powell's dovish stance on inflation and rate hikes. Economic activity grew in Q3, the job market remains strong, and inflation is gradually decreasing. As a result, the 10y & 2y treasury yields and the VIX fell below 20.

🇨🇦 Canadas TSX surged 2.9% on Thursday, mirroring the Nasdaq's movement, likely due to SHOP's impressive 21% earnings beat. The rally was mainly driven by Utilities, banks, Shopify, and oil stocks. I discuss the reasons behind these stock increases in my discord.

Markets/ Earnings season 🤑

AAPL earnings are a big deal and I was scared! In my opinion, the earnings were not bad, I expected worse. Mac & China sales missed, but CEO Tim Cook had positive remarks. If Apple stock holds, the overall market should hold. AAPL stock was down 4% after earnings.

Next week for Canadian earnings i will be watching BAM , TRP, NVEI, BN, SU, H & SRU. Earnings don’t really make or break CAD stocks so i don’t worry unless its a major miss.

• $QCOM ✅  beat earnings: EPS $2.02 v $1.92 Revenue $8.67 billion vs $8.51 billion

• $ABNB ✅  beat earnings EPS $6.63 Revenue $3.40 billion v $3.37 billion

• $PYPL ✅  beat EARNINGS EPS of $1.30 v $1.23 Revenue of $7.42B v $7.4B

• $SHOP ✅ beat earnings of $0.24 v $0.14 Revenue of $1.71B v $1.7B

• $PLTR ✅ beat EARNINGS of $0.07 v $0.06 Revenue of $558M v $555.9M

• $COIN ✅ beat $674 v 654 est , EPS 0.33 v 0.23

• $SQ ✅ beat eps 0.55 v 0.44, Revenue $5.62 v $5.41

  Stocks that caught my eye 👀

  

  High yield dividend stocks

Insider sells 📊

Oh Canada 🇨🇦

On December 6th, the Bank of Canada will make its next interest rate decision. Due to falling inflation and new mortgage renewals, it is likely that the rates will be paused. There are discussions about a rate cut, but it may be premature. Additionally, higher inflation allowed the increase of the TFSA limit to $7,000 in 2024, so consider monitoring stocks for potential purchases next year.

• About 60% of outstanding mortgages facing payment shock in next 3 years: RBC

• Air Canada shares fall despite profit beat, strong travel demand

• Canada Goose shares fall sharply after analyst downgrade over China concerns

• Shopify stock soars after company launches AI tools, slashes expenses

• Greater Toronto home sales drop 5.8 per cent in October amid high borrowing costs

• John Chen Blackberry CEO to depart

Earnings

• $CNQ ❌ missed earnings eps 2.13 v 2.43 est beat revenue of $9.89B v $9.33B est

• $BCE ✅ met eps $0.81 missed ❌ on revenue $6.08B v $6.14 est

• $LSPD ✅ beat eps $0.05 v $0.01 est , revenue beat $312m v $290m

• $Enb ✅ beat eps 0.62 v est 0.59, revenue 11.32B v 11.32B est

• $T ✅ beat eps 0.25 v 0.24 est, revenue 4.98b v 5.07b est

• $BEP beat ✅

Headlines you need to know 📰

Sam Bankman-Fried, once hailed as a crypto prodigy, was found guilty of fraud after his exchange FTX crumbled, wiping out investments for countless users.FTX's Bankman-Fried, a founding member, faced seven counts, including wire fraud, securities fraud, and money laundering. These charges resulted from defrauding FTX customers and Alameda Research creditors. Hope you didnt have money with FTX…

• Fed holds rates steady, upgrades assessment of economic growth (CNBC)

• Toyota gives 9% pay bump to most US auto-factory workers, following UAW gains in Detroit (WSJ)

• Tesla won a lawsuit that accused its self-driving software of causing a fatal crash.

• Realtors on the hook for $1.8 billion in damages for commission practices.

• Upcoming mortgage renewals part of why BoC held rate at 5%: Macklem

• Higher inflation is set to push the TFSA dollar limit to $7,000 in 2024

• Acquisitions: Disney (DIS -0.64%) is buying Comcast's (CMCSA +1.28%) remaining stake in Hulu for about $8.61 billion.

• Layoffs: Charles Schwab (SCHW +1.50%) is laying off around 2,000 employees in what the company called a "cost-cutting measure." 

• US payrolls increased by 150,000 in October

• Amazon to close physical retail stores

Crypto Corner

• Bitcoin breaks $35,000 but dropped below again HODL!!

• $BTC Bitcoin gets its first Golden Cross on the daily since February

• BERNSTEIN EXPECTS BITCOIN $BTC TO RISE TO A HIGH OF $150,000 IN A 2024-2027 CYCLE

• PayPal is still committed to its crypto sector, according to its CEO

  

  BTC golden cross

Economics 📊

Market expects a rate cut in the US near June. I expect a rate cut in Canada & US earlier then June next year if inflation keeps falling at this pace.

• Dec 13, 2023: Pause

• Jan 31, 2024: Pause

• Mar 20, 2024: Pause

• May 1, 2024: Pause

• Jun 12, 2024: 25 bps cut to 5.00-5.25%

• Additional cuts to 4.07% by Nov 2025

BD investing Discord 👥 (350+ members)

In the first week of November, the group's longterm stocks performed exceptionally well. SQ rose by over 20%, SOFI and NET both increased by 17%, and PYPL made an impressive comeback with an 11% gain..

This week, we had 3 days of trading and went 3/4. PLTR was my only loss at 17%.(not too bad) However, many members in the discord made 100-200% profit after entering the signal later.

Meme Spot 🤣