• Why does the market expect a rate cut in May next year?
• Why did PDD surge by 18%?
• What is there to know about the Cybertruck that Tesla debuted?
MARKET MOVEMENTS
Dow Jones
S&P 500
Nasdaq
35,647.98 (+0.61%)
4550.68 (0.00%)
14,233.48 (-0.18%)
Opening price as of 11/30/2023 compared to last close
IN THE HEADLINES
The market anticipates a rate reduction in May of next year
In 2024, the U.S. Treasury yield curve is expected to steepen as the Federal Reserve plans interest rate cuts. Forecasts predict 10-year Treasury yields reaching 4.25% by year-end. Anticipated positive movement in the yield curve contrasts with ongoing concerns about increased Treasury debt issuance impacting long-dated securities. Market worries over sustained high interest rates have eased this month as 10-year yields hover around 4.28%, following a spike above 5% last month. Traders speculate on potential Fed rate cuts, leaning towards March or a widely expected initiation by May next year. Read more
PDD jumps 18% as Temu lures shoppers from Shein
PDD Holdings Inc. saw an impressive 18% surge following robust financials fueled by the success of the shopping app Temu. The app's aggressive marketing and discounts led to a near-doubling of revenue and a remarkable 47% rise in profits last quarter. Investors are optimistic about Temu's ability to maintain its momentum, particularly in competition against Shein and Amazon. Read more
Tesla releases the Cybertruck this week
Tesla introduces its highly anticipated Cybertruck, four years after Elon Musk unveiled the bulletproof electric vehicle. Amid a surge in electric vehicle demand, the Cybertruck arrives as automakers aim to lower EV costs and expand charging infrastructure. With unique features like impressive towing capacity and futuristic design, it marks Tesla's bold entry into the pickup market. While pricing remains undisclosed, analysts estimate ranges between $50,000 and $80,000 for different models, with only online pre-orders available initially. Read more
TradeUP TIDBITS
Cyber Monday spending hits all-time record
Retailers launched early Cyber Monday deals, some starting over the weekend, inundating shoppers with ads and choices, observed San Jose resident Kelly Thash. Predictions from Adobe Analytics suggest a record-breaking $12 billion in spending on Monday, a 6% increase from last year. Watch the Full Video
INVESTOR TIPS
Bid-ask spread
All publicly traded stocks have a bid price and an ask (or offer) price. The bid price is what an investor is willing to pay for a particular stock at a particular time and the ask price is what an investor is willing to receive for a particular stock at a particular time. The difference between a stock’s bid price and ask price is known as the bid-ask spread.
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This week's topic is: Do you believe there will be a rate reduction by May next year?
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