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⏰ Read time 5 mins

 _{^{Whats Moving the markets}} 
🚀 Digital gold or a scam?
 

Bitcoin has been on a massive run up this week, up 156% YTD & hitting $44.5k today! S&P 500 (SPY) also hit 52 week highs after a stronger job report with Google & AMD leading the week with their one day 6%+ performance. The market manage to close +1.00 % 👍️ 

The Canadian market however lagged behind and closed -0.24% because of falling Oil & gas prices.

  ^_Earnings
 🕹️ GameStop let Reddit investors down

GameStop shares have had a crazy two weeks. Known as the king of "meme stocks" it caught people's attention on reddit again. The stock went up 40% before its earnings report.

$GME Gamestop posts EPS beat, Sales miss for the third quarter. 🎮️ 

• EPS: $(0.01) vs $(0.08) est ❌

• SALES: $1.08B vs $1.18B est ❌

GME was down 6% after earnings.

 💳️ Mastercard announced an increase in its dividend and introduced a new share buyback program

Insider Trades 📰 

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 

Zuckerberg sold almost $185m in Meta shares, the last time he did this was in 2021 and Meta stock fell 70% over a year.

_{^{Headlines you need to know}} 📰
 🤖 AMD’s new AI chip ready to fight NVDA

All we hear now a days is AI,AI,AI ! “AI is the single most transformational technology over the last 50 years, maybe the only thing that came close was the introduction of the internet” According to AMD CEO Lisa Su. She just announced the launch of $AMD's Instinct MI300X. Lisa Su said it's the "Highest performance accelerator in the world for generative AI"

• Meta and Microsoft say they will buy AMD’s new AI chip as an alternative to Nvidia’s

• AMD SAYS MI300 MUCH FASTER AT RUNNING AI MODELS THAN NVIDIA $NVDA

• NVIDIA SHARES FALL AS MUCH AS 1.5% ON AMD AI CHIP ANNOUNCEMENT

• Facebook $META just announced it's expanding its partnership with $AMD to include MI300X GPUs in Meta's data centers for AI workloads

🤖 Robots are taking over Amazon

Amazon $AMZN now has 750,000 warehouse robots up from 1,000 in 2013

🍎 Apple to release new iPads and MacBook to fight weak sales.

Apple is planning to release several new models, including a faster MacBook Air and two updated iPads, early next year to help combat a decline in sales of the devices

• Payment technology company Nuvei Corp. has signed a partnership agreement with Microsoft Corp.

• McDonald’s to open first CosMc’s spinoff restaurant this week

• McDonald's aims to add 10,000 new stores by 2027 and open 1,000 restaurants annually in China. 🇨🇳 

• MCDONALD'S GETTING AI CHATBOT FROM GOOGLE FOR RESTAURANT CREW

• Apple, $AAPL, to launch new iPads, M3 MacBook Air to fight weak sales, per Bloomberg.

• Google $GOOGL, has released it's AI Gemini, that beat GPT-4 in 30 out of 32 established benchmarks

• Starbucks $SBUX is on pace to extend its longest losing streak since it went public in 1992 up to 12 Red days in a row

• Spotify laying off 17% of staff and Twilio cutting 5% of employees in its data and applications business

• Exxon $XOM will repurchase $20 billion of stock next year up from $17.5B

• AMAZON TESTS GROCERY SUBSCRIPTION SERVICE FOR PRIME MEMBERS - CNBC

• Amazon (AMZN) - focusing on attracting international viewers with Prime Video's deal with the International Cricket Council.

₿ Crypto Corner

• Bitcoin hit a high of $42.5K 🚀 

• JPMorgan CEO Jamie Dimon says he would "close down" #Bitcoin & crypto if he were the government.

• Jamie Dimon “The only true use case for it is criminals, drug traffickers, money laundering, tax avoidance”

• Qatar’s $475 million wealth fund is considering a significant investment in Bitcoin, sending prices higher despite not being confirmed by any major outlet.

• Coinbase rallied nearly 300% this year as cryptocurrency prices rebounded in anticipation of bitcoin ETF

• Options Traders Are Setting Their Sights on Bitcoin at $50,000 by January

• Estimated 133 days until the next bitcoin halving

• Michael Saylor's MicroStrategy #Bitcoin investment is now at a $2,300,000,000 unrealized profit.

• US Senator Elizabeth Warren says "there's a new threat out there, it's crypto" and "we can't allow that to continue.

Oh Canada 🇨🇦

• Bank of Canada pauses interest rates. Further signaling it is done raising rates

• BoC commented ;Further Signs High Rates Are Slowing Spending, Relieving CPI Pressure, Economic Growth Has "Stalled", Economy Is No Longer in Excess Demand, Economic Slowdown Has Reduced Inflationary Pressure in Goods, Service

• The Bank of Canada will cut interest rates in Q2 next year due to slowing inflation and the economy, say Reuters economists.

• CANADA’S LARGEST BANK RBC HAS JUST BEEN FINED $7.4 MILLION FOR NON COMPLIANCE WITH ANTI-MONEY LAUNDERING AND TERRORIST FINANCING MEASURES

I bought this stock! 👀 

I recently added to Telus, I think Canadian utilities and telecoms are going to start outperforming with investors predicting a rate cut. I also took some profits on Canadas own NVEI.

Economics 📊

Next week will be a busy week with US CPI, CORE CPI, PPI, FOMC & an interest rate decision, expect some volatility in the markets. We predict another rate pause & inflation to come at 3.1% below last months 3.2%. (look below)

•  The Biden administration is set to forgive $4.8 billion in student loan debt for 80,300 borrowers, per CNBC.

• WALMART CEO SAYS CONSUMERS MAY NOT BE AS RESILIENT NEXT YEAR because of rising credit card debt - CNBC

• Bank of America CEO Brian Moynihan said there are signs of the US economy slowing, but his firm still expects a soft landing rather than a recession - Bloomberg

• US jobless claims continue to rise to 220k this week

  

  Economic schedule

BD investing Discord 👥

This week was filled with Crypto gains. BD gave the signal to start accumulating Bitcoin start of the year & well some people might call it luck it takes a lot “balls” & patience to hold this volatile asset. As for trades we went 5/5. 🚀 

Make sure to go checkout my website. bdinvesting.org 

Meme Spot 🤣