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Canadian and US Markets Recap: Charlie Munger, Canadian Bank Earnings, TSX Rally

ByBilaal Dhalech
Published 2023-12-02, 03:25 p/m
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Rest in peace to bitcoins number one hater & the greatest investor of all time Charlie Munger who passed away on Tuesday at the age of 99. This week the S&P 500 managed to close +0.77 % & all 3 index’s hit new 52 week highs !

The Canadian market (TSX) followed and closed 0.82% thanks to a lower inflation reading & hints of an interest rate pause.

Black Friday soars to a record high with buy now pay later

Amazon (NASDAQ:AMZN) announced that its extended Black Friday and Cyber Monday event was its biggest ever, surpassing last year's sales. The average person spent $533 on Black Friday, but with Buy Now Pay Later, they spent 48% more than others.

The best-selling categories were electronics, toys, and gaming. Buy Now Pay Later usage hit an all-time high on Cyber Monday, contributing $940 million in online spending.

  • $BNS (TSX:BNS) miss earnings , Eps est. 1.65 vs 1.26 actual , revenue est. 8.2B vs 8.3B

  • $ATD (TSX:ATD) beats earnings, EPS est 1.09 vs 1.14, revenue est 22.6B vs 22.79B

  • $BMO (TSX:BMO)est 2.87 v 2.81 reported Revenue est 8.26B v 8.23B reported double miss raises dividend

  • $NA (TSX:NA)est 2.26 v 2.44 reported Revenue est 2.64B v 2.75B reported raises dividend

  • $RY (TSX:RY) est 2.62 v 2.78 reported Revenue est 13.18B v 12.94B raises dividend

  • $TD (TSX:TD) est 1.90 v 1.83 reported Revenue est 12.36B v 13.19B raises dividend

  • $CM (TSX:CM) est 1.53 v 1.57 reported Revenue est 5.94B v 5.84B raises dividend

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.

Even though insiders have sold millions in AMZN shares , the price of the stock hasn’t been affected. If anything the stock price has risen vs insider sells.

On the Radar

Kim Kardashian plans to take her clothing company, SKIMS, public via an IPO at a $4 billion valuation next year. Skims has recently partnered with Fendi and has become the official underwear partner for the NBA, WNBA, and USA Basketball.

Most people are bearish on SKIMS because Kim Kardashian owns it but not me. This year's revenue is projected to reach $750 million, a 50% increase from last year's $500 million.

Skim’s 2024 revenue will be way higher than 2023 since they just released a men's line and almost everything sold out on the first day, with over 10 million people waiting to buy! Skims has the potential to achieve annual revenue of $6 billion over the next ten years. Kim K is the perfect example of CEO people love and she’s a brand herself. Meaning people will buy whatever she releases.

Goldman Sachs (NYSE:GS) ends partnership with Apple (NASDAQ:AAPL) on credit card due to over $1 billion loss last year.

Headlines you need to know

  • Black Friday shoppers spent a record $9.8 Billion online according to Adobe (NASDAQ:ADBE) Analytics

  • Gold hits new all time highs

  • CHINA BASED SHEIN & REDDIT TO GO PUBLIC NEXT QUARTER

  • Mastercard (NYSE:MA)SAYS E-COMMERCE SALES HIT A NEW ALL TIME HIGH

  • AMZN has announced new chatbot Q for business

  • AMAZON: SIGNED CONTRACT WITH SPACEX FOR THREE FALCON 9 LAUNCHES

  • CYBERTRUCK DELIVERIES STARTED ON THURSDAY

  • Honda (NYSE:HMC) is recalling 300,000 of its most popular cars due to a dangerous defect

  • Mark Cuban is selling a majority stake of the Dallas Mavericks for $3.5 billion

  • $AMZN ANNOUNCES NEW AI CHIP AS IT DEEPENS NVIDIA (NASDAQ:NVDA) $NVDA RELATIONSHIP

  • Elon Musk tells advertisers who are trying to ‘blackmail’ him: "Go f-ck yourself"

  • Disney (NYSE:DIS) is bringing back its dividend after cutting it at start of the pandemic

  • JJPMorgan (NYSE:JPM) predicts the S&P 500 to decline approximately 8% from its current level.

  • Uber (NYSE:UBER) to join s&p500

  • TEXAS HAS SUED Pfizer Inc (NYSE:PFE)FOR MISREPRESENTING THE EFFECTIVENESS OF IT’S COVID-19 VACCINE

Crypto Corner

  • Bitcoin hits 39k !

  • MicroStrategy (NASDAQ:MSTR) , Michael Saylor now holds 174,530 BTC bought at an average of about $30,252 per coin. (might not be too late)

  • US JUDGE TOLD BINANCE CEO, CZ CANNOT LEAVE AMERICA AHEAD OF HIS SENTENCING

  • Cristiano Ronaldo sued for promoting #Binance

  • FTX has been approved to start selling $744 million in Grayscale assets, per Bloomberg.

  • Binance to delist & end support for its Binance USDstablecoin in December 2023.

Oh Canada


  • TD to lay off 3000 workers CIBC to lay off 2400 per CBC

  • Average home price in Canada has risen to $656,625 CAD as monthly sales slow, per CREA.

  • International students in Canada will be restricted to a 20-hour work week, per the Globe.

  • Millennials in Canada had largest drop in homeownership rates over a decade, per Bloomberg.

  • Owning a Toronto condo yields 3.9% after mortgage/expenses, less than the 5% from a Government of Canada treasury bill, according to BMO

  • Canadian Government has reached a deal with Google (NASDAQ:GOOGL) over the Online News Act following threats to remove news from its search platform

  • Google will make annual payments to news companies in the range of $100 million.

  • Jobless rate rises to 5.8%, economy adds modest 25,000 jobs in November

  • Manufacturing and construction saw the largest gains in employment

  • Average hourly wages continued to grow quickly – rising 4.8 per cent from a year ago

Economics

The US economy keeps getting stronger with a 5.2% reading in the GDP meanwhile Canadas GDP stays stagnant. I do expect a rate cut in both countries to happen near March. Maybe earlier for Canada since we need a stimulus in the economy.

  • Federal Reserve suggests interest rate hikes are likely over but remains open to further tightening if inflation progresses ,yet markets indicate otherwise. Odds of a March rate cut increase.

  • Bill Ackman bets the Fed will cut interest rates as soon as next year's first quarter.

  • Declining US rent prices are expected to lower inflation

  • Biden: this year's Thanksgiving dinner was historically inexpensive due to his policies

  • POWELL: I HAVE BEEN SURPRISED ON THE UPSIDE THIS YEAR WITH INFLATION COMING DOWN MEANINGFULLY BUT GROWTH AND JOBS CONTINUING.

  • POWELL: FED POLICY RATE IS 'WELL INTO RESTRICTIVE TERRITORY & PREPARED TO TIGHTEN MORE

  • 93% of homebuyers have regrets about purchasing a house in 2023, per Yahoo

  • FED'S BARKIN: 5.2% GDP TELLS BUSINESSES THAT THEY CAN KEEP TRYING TO RAISE PRICES.

  • JPMORGAN CEO JAMIE DIMON: THINK THERE'S A HIGHER CHANCE OF ANOTHER RATE HIKE

  • JAMIE DIMON NOTES HE DOESN'T THINK A CHINA-TAIWAN WAR WILL HAPPEN

  • The typical American household needs an extra $11,434 annually to maintain their current standard of living (CBS News).

  • Inflation in the Eurozone cooled to 2.4% , Europe stocks were up


BD investing Discord

This week we went 2/3. I got my first loss in 2 months on Disney. We traded TSLA & $C. We are still holding 3 trades from last week. TSLA gave us 20% & $C gave us 90% We also got 300% on $ULTA earnings play ! (Gamble!)

In November we went 12/13 on our trades, still keeping our 92% win rate Join me at bdinvesting.org

Meme Spot

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