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- 💼 Dec Jobs report comes in hotter, raising concerns the Fed may pause rate cuts
💼 Dec Jobs report comes in hotter, raising concerns the Fed may pause rate cuts
PortfolioGPT x Unprompted newsletter for 1/5-1/11
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🏛️ Financial News
Jobs Report 💼 US job growth blows away expectations in December; unemployment rate falls to 4.1% – Reuters: US job growth unexpectedly accelerated in December, while the unemployment rate fell to 4.1%. The labor market ending 2024 on a solid footing, raised concerns that the Federal Reserve might not cut interest rates (4.50%) as aggressively this year.
Treasuries 💴 Bond market selloff jolts global investors as Trump worries grow – Reuters: A sharp selloff in the world's biggest government bond markets and a continued rise in the dollar sent shockwaves through financial markets, with pain seen deepening as uncertainty grows over U.S. President-elect Donald Trump's policies.
Global Outlook 🌎 Vanguard’s Economic & Market Outlook for 2025 – Vanguard: Brokerage firm’s global summary highlights a full economic and market outlook that sees China (4.5%) and the US (2.1%) leading the UK (1.4%), Western Europe (.5%), Japan (1.2%) in GDP growth.
Natural Disaster 🎬 Los Angeles wildfire economic loss estimates top $50B – Yahoo! Finance: US private forecaster AccuWeather said that estimated damage and economic loss from the California wildfire, already one of the worst in history, could top well-over $50B.
Financial Services 🏦 Wall Street Job Losses May Top 200,000 as AI Replaces Roles – Yahoo! Finance: Analysts at Capital Economics believe the US stock market could see gains of more than 20% in 2025, driven by continued AI enthusiasm and US economic strength.
📈 Stocks
$NVDA 🦾 Nvidia steals the show at CES tiny $3,000 computer for AI developers CNBC: Codenamed “Project Digits” the PC is based around the GB10 chip to target the $50B annual PC market.
$META 👥 Facebook and Instagram get rid of fact checkers BBC: US President Joe Biden cited a strategic need to protect domestic industry. But the move of the Japanese company buying its US rival drew sharp criticism, as both companies threatened legal action.
$DIS 🎬 Disney, Fox and Warner Bros. Discovery call off plans to launch Venu sports streaming service CNBC: Earlier this week, Disney and live-sports streamer Fubo settled litigation over the platform as part of a deal to combine internet TV bundles. Announced in February 2024, Venu was intended to combine the live sports assets of Fox, Warner Bros. Discovery and Disney-owned ESPN.
📊 Exchange Traded Funds
S&P 500 📊 The market hasn’t been this concentrated in at least 60 years. But is it a problem? – MarketWatch: The top five companies in the S&P 500 - Apple, Nvidia, Microsoft, Amazon and Alphabet - represent nearly a third of the index than at any time over the last 60 years.
🏡 Real Estate
US Market Trends 🏡 Why Buffalo is 2025’s Hottest Market (Again) – Zillow: Competition among buyers never cooled in Buffalo last year, and that should continue throughout 2025, along with Indianapolis, Providence, Harford, and Philadelphia.
Data Centers 🗄️ Data Center M&A 2024: A record-breaking year – Data Centre Dynamics: 2024 was another milestone year for the data center industry. Records were broken for mergers and acquisitions at the top end of the market, and numerous smaller deals indicated interesting trends within the wider industry.
💱 Crypto Currencies
$BITO 📊 Bitcoin ETF Outflows Gather Steam As Bitcoin Falls Near $90,000; Are Crypto ETFs A Sell Now? Investors.com: Bitcoin has retreated from its all-time high of $108,000 and is hovering just above the $90,000 level —that is nearly a 15% fall. That is taking a toll on several crypto ETFs. So are crypto ETFs a sell now?
$XRPUSD 📊 XRP ETF 'Very Soon,' Likely Next After Bitcoin And Ethereum, Ripple President Says CoinTelegraph: BlackRock’s IBIT also saw a record three consecutive trading days of outflows.
🛢️ Commodities
Oil : $WTI 🛢️ Oil prices rally as fresh U.S. sanctions on Russia threaten global supplies MarketWatch: Oil futures ended sharply higher on Friday to their highest finish since early October, as fresh U.S. sanctions on Russia’s oil sector looked to threaten global supplies and as winter storms in the U.S. were expected to boost demand for heating fuels.
Gold : $GLD 🥇 Gold rebounds on Trump policy uncertainty despite robust US jobs data Reuters: Gold prices rebounded as uncertainty surrounding the incoming Trump administration's policies lifted safe-haven appeal.
Cocoa : $CC 🍫 Hershey seeking CFTC approval to buy more ICE cocoa than allowed Reuters: Hershey wants to receive as much as 90,000 metric tons of cocoa from ICE certified stocks using futures contracts, which would equal 9,000 contracts. The current position limit set by CFTC is 4,900 contracts.
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Our thoughts are with those personally-impacted, or have friends and family in the Los Angeles by the wild fires, please consider helping if you have the means.
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Stay safe everyone,
Rawee
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