MARKET RECAP → There was a bull on the loose spotted near Newark Penn Station on Thursday, which is as bizarre as it is a perfect metaphor for the ethos of Wall Street in this pivotal moment.
STARBUCKS’ UNION BREW →☕ Starbucks (SBUX) stirs controversy, facing allegations of shutting 23 stores to cool down its unionizing steam, while brewing a defense in a freshly released labor report.
NOVEMBER RETAIL SALES RISE SURPRISINGLY → ?️ U.S. retail sales in November rose by 4.09% year-over-year, signaling robust consumer spending and hinting at economic resilience amidst ongoing inflation concerns.
INTEL CHALLENGES AI GIANTS →? Intel (INTC) heats up the AI chip race with Gaudi3, aiming to outsmart Nvidia (NVDA) and AMD (AMD), while boosting laptops and servers with AI-savvy Core Ultra and Xeon chips.
|
|
|
| Sean Horgan Head of Investor Relations @ MoneyLion
$shorgan |
|
|
☕ The National Labor Relations Board accused Starbucks (SBUX) of closing 23 U.S. stores to stifle unionization. Eight of these stores had already unionized, spotlighting Starbucks’ alleged illegal labor tactics amid a growing union movement within the company.
? Starbucks faces over 100 complaints for union-busting activities, though the company denies any wrongdoing and claims to respect workers’ rights to unionize. An NLRB judge previously ruled against Starbucks for closing a unionized store in New York, a decision now under appeal.
? Amidst these allegations, Starbucks released a shareholder-requested report on its labor practices. The report acknowledged the need for better communication regarding the union campaign but denied adopting an “anti-union playbook” that violates U.S. labor laws. |
| |
|
? RETAIL SALES RISE SURPRISINGLY |
? Retail sales in November unexpectedly increased by 0.3%, defying expectations of a decline. This uptick is attributed to strong sales in categories like electronics, furniture, and online shopping, showing robust consumer spending during the holiday season.
? The holiday season could potentially provide a much-needed boost to retailers, with e-commerce platforms like Amazon and brick-and-mortar stores gearing up for a busy period. Despite supply chain challenges, consumers appear determined to enjoy festive shopping, supporting the retail sector’s resilience.
? The data suggests that consumers are eager to spend, aided by a strong job market and wage growth. While inflation remains a concern, the holiday season’s success bodes well for retailers and offers a glimpse of economic stability amid uncertainties. |
| |
| INTEL CHALLENGES AI GIANTS |
? Intel (INTC) unveiled Gaudi3, an AI chip targeting generative AI software, set to rival Nvidia (NVDA) and AMD’s (AMD) offerings. Gaudi3, launching next year, aims to power large AI models, challenging Nvidia’s dominant market position and AMD’s upcoming MI300X.
? Alongside Gaudi3, Intel announced Core Ultra chips for Windows laptops and PCs, and new Xeon server chips, all featuring specialized AI parts (NPUs) for enhanced AI program performance. These developments signal a strategic shift towards AI-focused products in the processor industry.
? The Core Ultra chips, built on a 7-nanometer process, offer improved power efficiency and gaming capabilities, while the fifth-generation Xeon processors are designed for large-scale server deployments, particularly effective in AI model inferencing. |
| |
|
Together With Business Insider |
|
| Wall Street Traders Go All-In on Great Monetary Pivot of 2024 (Bloomberg – paywall) Buffett’s Berkshire buys more Occidental in endorsement of Permian Basin-related purchase (CNBC)
Cadillac reveals three-row Vistiq to round out electric SUV lineup (CNBC) CrowdStrike CEO George Kurtz on China, Microsoft and the SEC (CNBC) Volkswagen is losing the electric car race to Tesla and China (CNN)
Pope calls for treaty regulating AI, warning of potential for ‘technological dictatorship’ (CNN) Meta’s Threads is now available in the EU (CNN) Tesla recalls millions of cars in the U.S. over autosteering problems (Mashable)
Salesforce boss Marc Benioff is cashing out of his company’s shares with almost daily sales at a rate of $3m a day (Fortune)
Vladimir Putin’s war in Ukraine has cost Russia’s economy 5% in growth, U.S. Treasury says (Fortune) |
And if you want more, be sure to check out the MoneyLion blog for tips, hacks and all things money. (MoneyLife) |
|
|
Our Favorite Tools & Resources |
|
|
The Bull vs. Bear Merchandise Promotion is a limited time campaign that begins on December 1, 2023 at 12:00 AM ET and ends on the date that there are no more Rewards. This Promotion is available to any registered MoneyLion user who is a legal resident of the 50 United States or the District of Columbia and who has reached the age of majority in their state as of the beginning of the Promotional Period. See terms and conditions here.
|
|
|
|
