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Oil Pops on India Ban
Oil rises as Trump says India will stop buying Russian oil supplies.
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Your Daily Dose of Market & Career Clarity
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🎯 In this issue:
Banana Bits: Finance headlines that actually matter
Market Summary: Stocks rally as strong tech earnings lift sentiment
What’s Ripe / Rotten: The tastiest and most disgusting stocks
Technical Trip: Interview Question with Lazard
Deal Dispatch: M&A, IPOs, and other transactions
Market Snapshot
📉 Banana Bits
TSMC raises sales outlook to convey confidence in global AI boom.
Singapore Wealth Fund accuses EV maker Nio of inflating revenue.
Australian unemployment rate jumps to four-year high of 4.5%.
Gold climbs to a record on U.S.-China tensions and Fed rate-cut bets.
Oil rises as Trump says India will stop buying Russian oil supplies.
Paxos mistakenly issues $300 trillion of PayPal stablecoin.
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Market Recap
Another Win for the Market
Wednesday was again a sunny day for investors after all the drama that came after Trump's retaliatory tariffs on China. It was the strong tech earnings yesterday that alleviated investors' worries.
Nasdaq 100 futures rose 0.4% as Taiwan Semiconductor Manufacturing Co. hiked its revenue-growth target and raised its forecast for capital spending. Artificial linked companies such as Nvidia, Micron, and Broadcom also had a great run.
Meanwhile, gold soared to as high as $4,242 an ounce, taking gains this year to more than 60% as trade frictions and expectations for further Federal Reserve interest-rate cuts lured buyers.
What's Ripe
Morgan Stanley (MS) 4.7%
MS rose 4.7% in after third quarter earnings per share of $2.80, topping the Wall Street estimate of $2.10.
A buoyant stock market and a surge in dealmaking lifted revenue at Morgan Stanley’s investment bank and wealth management units.
Bank of America Corp. (BAC) 4.4%
BAC climbed 4.4% after the company topped third-quarter earnings. Its third-quarter profit rose 23% from a year earlier to $8.5 billion.
Earnings came in at $1.06 a share, surpassing the 95 cents expected by analysts.
What's Rotten
PNC Financial Services Group Inc. (PNC) 3.9%
PNC fell 3.9% after the company’s third-quarter earnings and revenue rose from a year earlier and beat analysts’ estimates.
The company set aside more money within its retail banking unit in case customers fall behind on loan payments, while decreasing its provision for credit losses within its corporate and institutional banking unit.
Abbott Laboratories (ABT) 2.4%
The maker of medical devices and nutrition products fell 2.4% after the company reported third-quarter earnings.
The company reported earnings that were in line with analysts’ estimates and narrowed its fiscal year adjusted earnings outlook to $5.12 to $5.18 a share from $5.10 to $5.20.
🧠 Technical Trip
Interview Q&A from Lazard
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🦈 Deal Dispatch
M&A, IPOs, And Other Notable Transactions
Tekscend shares rise 19% from IPO price in Tokyo trading debut.
Investors call for more transparency in the Toyota Industries buyout.
Kraken expands U.S. derivatives business in $100 million IG deal.
EssilorLuxottica buys Eyecare AI, data management firm RetinAI.
Wall Street rides IPO momentum as equity advisory revenue climbs.
Novo buys Omeros' rare-disease drug for up to $2.1 billion.
Banana Brain Teaser
Previous
Water consists of oxygen and hydrogen, and the approximate ratio, by mass, of hydrogen to oxygen is 2:16. Approximately how many grams of oxygen are required in 144 grams of water?
Answer: 128
Today
In a certain city, 60% of the registered voters are Democrats and the rest are Republicans. In a mayoral race, if 75% of the registered voters who are Democrats and 20% of the registered voters who are Republicans are expected to vote for Candidate A, what percent of the registered voters are expected to vote for Candidate A?
Slow and steady often beats fast and flashy.
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Happy Investing,
Chris, Vyom, Ankit, Mitchell, Colin, & Patrick