\n<\/p>\n
MARKET REPORT
America is now unburdened by what has been<\/p>\n
Bella Epoque ($33.5m)<\/p>\n
\u201cMoney is a\u00a0terrible master\u00a0but an\u00a0excellent servant.\u201d<\/u><\/em><\/p>\n You were found in clear conditions. But you\u2019re handsome in the fog.<\/u><\/p>\n \u201cVoters seem to forget when politicians \u2018give\u2019 you money, it is the voters\u2019 money they have already taken.\u201d The number of Americans filing for jobless benefits for the first time rose modestly last week from 215k to 224k<\/p>\n \u2013 Trade deficit for the US came in below forecasts<\/p>\n \u2013 The odds of a 25bps rate cut by the Fed this month hold steady at around 74%, largely unchanged from Wednesday<\/p>\n (See full breakdown below)<\/p>\n COMPANIES \u2013 CIBC (CM) released earnings per share at 1.91 CAD, compared to market expectations of 1.77 CAD \u2013 Tesla increased to a 31-month high of 363.59 USD. Over the past 4 weeks, Tesla gained 42.14%, and in the last 12 months, it increased 49.65% \u2013 GameStop\u2019s shares (+6%) jumped on Thursday after a cryptic post from meme stock influencer Keith Gill, who shot to notoriety after his online personas and bullish bets on the video game retailer sparked a trading frenzy among mom-and-pop investors.<\/p>\n GENERAL: \u2013 Biden falls asleep at international conference for FIFTY-ONE SECONDS! \u2013 Jihadists take Syria\u2019s 3rd<\/sup> largest city, Hama, quickly following the fall of Aleppo<\/p>\n \u2013 The Canadian TSX Composite Index edged up 0.2% to close at a new record high of 25,680, amid a mix of earnings reports in the banking sector. \u2013 Euro Bourses extend gains for 6th<\/sup> straight session<\/p>\n \u2013 Muhammed is the most popular boys name in: England, Wales, Brussels and Berlin<\/p>\n \u2013 Mag 7 earthquake off coast California, Tsunami warning called OFF.<\/p>\n \u2013 UnitedHealthcare CEO Assassination: Bullet Casings Inscribed With \u201cDeny, Defend, Depose\u201d<\/p>\n \u2013 Qatar resumes Hamas-Israel mediation<\/p>\n \u2013 BoJ Nakamura not adverse to rate hike, casts doubt over wage growth sustainability<\/p>\n \u2013 French PM resigns, President Macron looks to team with Socialist party<\/p>\n \u2013 EU nations discuss EUR 500bln joint fund for common defence projects and arms procurement<\/p>\n \u2013 President-elect Donald Trump nominated Fiserv CEO Frank Bisignano to lead the Social Security Administration<\/p>\n \u2013 Market Implied Fed Rate Cut Pricing: December 18bps (prev. 19bps), January 25bps (prev. 25bps), March 41bps (prev. 42bps)<\/p>\n \u2013 <\/strong>Equities down, Treasuries flatten, Crude down, Dollar down, BTC pumps n Dumps<\/p>\n Ahead: Speakers: The big focus ahead is NFP, expected at +200k (prev. 12k), which alongside CPI next week could sway the Fed\u2019s upcoming December decision. Currently, Fed pricing leans towards a 73% chance of a 25bps rate cut, with Waller\u2019s recent remarks (leans towards a cut) serving as the major guide for the upcoming announcement, as others keep options open. EUR: On data, EZ Retail Sales beat Y\/Y, rising 1.9% (exp. 1.7%), while the M\/M fell by 0.5% (exp. -0.3%). The latest Reuters ECB Poll revealed 73\/75 economists see the ECB cutting the deposit rate by 25bps to 3.0% next Thursday, whereas 2\/75 forecast a 50bps rate cut. EQUITIES: GOLD\/SILVER: Benchmark 10-year Treasury yields rose 0.6%, weighing on bullion, which offers no yield.<\/p>\n Attention now shifts to Friday\u2019s jobs report, anticipated showing an addition of 200,000 jobs in November. A weaker-than-expected result could provide support for gold prices.<\/p>\n Traders are assigning a 74% probability to a 25-basis-point rate cut at the Federal Reserve\u2019s December meeting, reflecting expectations for policy-easing.<\/p>\n Yesterday Fed Chair Jerome Powell acknowledged the resilience of the U.S. economy while signaling a cautious approach to rate cuts. Gold, which typically benefits in low-interest-rate environments, remains sensitive to these developments.<\/p>\n BONDS:<\/u> CRYPTO \u2013 BTC is up 55% since the election<\/p>\n \u2013 The rally has added $1.4 trillion to the crypto ecosystem\u2019s market cap and pushed bitcoin above Saudi Aramco as the 7th largest \u2018asset\u2019 in the world.<\/p>\n \u2013 Inflows have EXPLODED<\/p>\n \u2013 BlackRock\u2019s iShares Bitcoin Trust (IBIT) has surpassed $50 billion in assets under management, achieving the milestone in just 228 days \u2013 more than five times faster than any other ETF in history.<\/p>\n KEEP DOING WHATS WORKING, STOP WHAT ISNT<\/p>\n Best of luck out there. Post of the day: https:\/\/www.youtube.com\/shorts\/DQhsaSnOrBI<\/a><\/p>\n https:\/\/www.youtube.com\/watch?v=fa8k8IQ1_X0&t=636s<\/a><\/p>\n https:\/\/www.youtube.com\/watch?v=HAlPjMiaKdw<\/a><\/p>\n https:\/\/www.youtube.com\/watch?v=3uCYhevAJhM<\/a><\/p>\n Song of the day:<\/u><\/strong> https:\/\/www.youtube.com\/watch?v=Y2AqeH1GPs4<\/a><\/p>\n Joke of the Day:<\/u><\/strong> https:\/\/www.youtube.com\/watch?v=ESPReJNEBqw<\/a><\/p>\n House of the day: <\/u><\/strong><\/p>\n Iconic Villas to Visit on the French Riviera<\/a><\/p>\n<\/blockquote>\n
Day in Review:
<\/u>
<\/u>Today:
DATA:<\/u>
<\/u>\u2013 PAYROLLS TOMORROW! PAYROLLS TOMORROW! PAYROLLS TOMORROW! PAYROLLS TOMORROW!<\/p>\n
<\/u>\u2013 Judge Rejects Boeing (-1.34%) Plea Deal In 737 Max Crashes Over DEI Provision<\/p>\n
\u2013 Bank of Montreal (BMO) released earnings per share at 1.90 CAD, compared to market expectations of 2.46 CAD
\u2013 TD Bank (TD) released earnings per share at 1.72 CAD, compared to market expectations of 1.83 CAD
(See below for breakdown)<\/p>\n
\u2013 Tesla stock popped Thursday on the back of bullish comments from BofA Securities, with the firm\u2019s analysts fresh off a Giga Austin factory visit.<\/p>\n
<\/u>\u2013 \u201cCurrent Situation Serious\u201d:\u00a0VW CEO Tells Workers Labor Cost Reduction Urgent To \u201cSecure Future\u201d<\/p>\n
https:\/\/twitter.com\/i\/status\/1864403426303529321<\/a><\/p>\n
\u2013 Bank of Montreal\u2019s shares rallied 4.2% after announcing a dividend increase, a new share buyback program, and strong net interest income growth, offsetting earlier losses from weak earnings and surging credit loss provisions.
\u2013 Canadian Imperial Bank of Commerce climbed 4.4%, surpassing profit forecasts with earnings of C$1.91 per share, lowering credit loss provisions to C$419 million, and capitalizing on robust growth in wealth management and commercial banking. Energy stocks added further support with broad gains.
\u2013 TD Bank tumbled 7.1% after suspending medium-term financial targets, initiating a strategic review, and posting disappointing earnings, exacerbated by a $3.1 billion U.S. money-laundering settlement<\/p>\n
<\/u>\u2013 German Industrial Output, Canadian jobs report, US JOBS REPORT! & Uni. of Michigan prelim<\/p>\n
<\/u>\u2013\u00a0Fed\u2019s Bowman, Goolsbee, Hammack & Daly
<\/u>MAJORS:
DX:
<\/u>\u2013 Dollar\u00a0weakness lingered into the European session as Wednesday\u2019s soft-ISM Services continued to weigh.
Thereafter, losses extended versus all G10 peers on initial claims rising above expectations to 224k (exp. 215k, prev. 215k), albeit continued claims fell to 1.781mln (exp. 1.905mln, prev. 1.896mln).<\/p>\n
Also on Friday Prelim UoM (Dec) is due, and the headline is expected to rise to 73 from 71.8, alongside US Consumer Credit (Oct, exp. 10.0bln).
Scheduled Fed speakers include Bowman, Goolsbee, Hammack, and Daly.<\/p>\n
Gains were helped by the soft US data.
Bloomberg updates from France, unveiled French President Macron is looking to join forces with the Socialist Party, \u201cA strategy that would split a large left-wing coalition in the National Assembly and potentially return enough power to centrists to be able to break the country\u2019s political gridlock.\u201d
Later in the day, PM Barnier resigned as expected.<\/p>\n
On Friday, EZ Final Employment and Revised Q3 GDP figures are expected to remain unchanged from the prior.<\/p>\n
<\/u>
EURO:
<\/u>\u2013 DAX: +0.67% at 20,367, FTSE 100: +0.16% at 8,349, CAC 40: +0.37% at 7,331, Euro Stoxx 50: +0.63% at 4,950
US:<\/u>
<\/u>\u2013 SPX -0.19% at 6,075, NDX -0.31% at 21,425, DJIA -0.55% at 44,766, RUT -1.25% at 2,396
Sectors:<\/u>
<\/u>\u2013 Materials -1.4%, Industrials -1.21%, Health -1.13%, Communication Services -0.51%, Real Estate -0.28%, Technology -0.18%, Financials +0.22%, Utilities +0.25%, Energy +0.34%, Consumer Staples +0.39%, Consumer Discretionary +0.95%
OIL:
<\/u>\u2013 \u00a0OPEC+ voluntary cuts and collective cuts extended<\/p>\n
<\/u>\u2013 Gold prices dipped below $2,630 per ounce on Thursday, pressured by firming U.S. Treasury yields after a modest rise in weekly jobless claims, as markets focused on upcoming U.S. nonfarm payrolls data for insights into the Federal Reserve\u2019s interest rate outlook.<\/p>\n
YIELD\u00a0\u00a0\u00a0\u00a0 CHANGE
US 1-MO: \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4.541\u00a0\u00a0\u00a0\u00a0 -0.001
US 6-MO: \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4.4\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 +0.01
US 1-YR: \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4.237\u00a0\u00a0\u00a0\u00a0 +0.013
US 5-YR: \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4.076\u00a0\u00a0\u00a0\u00a0 +0.012
US 10-YR:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4.178\u00a0\u00a0\u00a0\u00a0 -0.004
US 30-YR: \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4.335\u00a0\u00a0\u00a0\u00a0 -0.014
TWO\u2019s\/TENS:\u00a0\u00a0\u00a0\u00a0\u00a0 0.03\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 -0.03<\/p>\n
<\/u>\u2013 Record highs vs Gold<\/p>\n
Let the market come to you<\/p>\n
<\/u><\/strong>https:\/\/www.youtube.com\/watch?v=vyvu1nWjOlI<\/a><\/p>\n
https:\/\/www.youtube.com\/watch?v=Emutat3_IP0<\/a><\/p>\n
<\/u>https:\/\/www.youtube.com\/shorts\/yBD95vi7OF4<\/a><\/p>\n\n