Merry Christmas
The US three major averages rallied in the final trading hour on Thursday, following a broad sell-off in the previous day after fresh data revealed that the US economy grew weaker-than-expected, cementing bets for further interest rate cuts from the Federal Reserve.
The S&P 500 and the Nasdaq were up by 0.8% and 1.1%, respectively, while the Dow Jones advanced over 250 points.
On the corporate front, Tesla gained 2.9% after reports that the US is considering tariff hikes on Chinese EV manufacturers.
Meta added 1% to $352 and is on pace for its best year ever, and Salesforce advanced 2.7% following an upgrade from Morgan Stanley.
Boeing was up 0.7% after news that the company is set to restart deliveries of its 787 Dreamliner to China.
A challenging year
It has been a challenging year; the markets, regulation, political, social and entrepreneurial misjudgements seem to be piling up, and most people are probably just longing for normality. I am grateful to have my family, friends, clients, partners, colleagues and you, dear readers, as reliable partners on my side. Thank you for your consistently professional and comprehensive feedback, support and kind words! Thank you indeed!
Merry Christmas
There is not much left for me to write today. Let me wish you and your loved ones a Merry Christmas. Let it be funky, relaxed, delightful and full of joy.
Christmas Offer
GRYNING | AI will pivot into an edge-providing research service in 2024. As such, all current members are being upgraded to GRYNING | CAPITAL at no extra cost.
PS: Annual plans are 50% off.
I wish you an excellent start to the day and a wonderful Christmas-weekend!Â
Yours truly,
Alexander Karlsson
a.karlsson@gryningcapital.com