Good morning investors! Stocks remain under pressure with some big surprises.
Today we cover:
Labor market softens
Robotaxi is the future
Nasdaq to 24 hours?
📊 Economy and News
US Labor Market Softens: November Jobs Report Shows Weak Growth and Rising Unemployment
Delayed by the recent 43-day government shutdown, the November 2025 US jobs report revealed a cooling labor market.
Nonfarm payrolls rose by 64,000 jobs, beating expectations of 50,000 but following a sharp 105,000 decline in October (largely due to over 150,000 federal workers accepting deferred buyouts dropping off payrolls).
The unemployment rate climbed to 4.6% — the highest since September 2021 — up from 4.4% in September.
Retail sales in October were flat (0.0% change), missing forecasts for a 0.1% rise, after a revised 0.1% gain in September.
Unemployment surged sharply among vulnerable groups: Black Americans to 8.3% (highest in over four years) and teenagers to 16.3%.
Analysts like Brian Jacobsen (Annex Wealth) highlighted potential inflection toward recovery in 2026 but vindication for dovish Fed views.
Others, including Seema Shah (Principal Global Investors), expect further rate cuts next year despite Fed skepticism on this noisy data.
Overall, the report underscores a labor market lagging economic growth amid uncertainty, with the Fed likely cautious on near-term cuts but open to easing in 2026.
Global hits:
Australia forecasts smaller budget deficit for 2025-26 fiscal year.
Argentina’s economy expands 3.3% in third quarter.
The UK's overall unemployment rate hit 5.1%, the highest since the start of 2021 with youth unemployment at a decade high.
Japan’s exports record fastest growth in nine months, sharply beating expectations.
Look here: Trump sues the BBC for billions for defamation over editing of January 6 speech.
The US government is launching an early career hiring and talent development program to bring more technology and artificial intelligence employees to the public sector.
Reminder: U.S. crude oil prices fell nearly 3% on Tuesday to close at the lowest level since early 2021. In other news, U.S. halts UK tech trade deal negotiations. Also, China lowers anti-dumping tariffs on European pork exporters.
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📈 Stocks
S&P 500 6,800.26 (+0.42%) (-0.24%)
DJIA 48,114.26 (+0.14%) (-0.62%)
NASDAQ 23 111,46 (+0.23%) (-1.37%)
BRENT CRUDE 58.91 (-2.71%)
* Prices as of Dec 16th, 12:20 AM UTC
Tesla Hits Record High on Robotaxi Optimism Amid EV Challenges; Waymo Dominates 2025 Robotaxi Landscape
Tesla shares closed at a new all-time high of $489.88 (+3.1%), driven by CEO Elon Musk's announcement of unoccupied driverless tests in Austin, boosted Tesla's market cap to approximately $1.63 trillion (7th most valuable company globally). Musk's net worth rose accordingly, solidifying his position as the world's richest person.
Despite the hype around turning existing EVs into robotaxis via software updates, challenges persist:
EV sales slowed, with U.S. deliveries hitting a four-year low in November.
Backlash against Musk's political activities impacted brand and revenue (Q1-Q2 declines of 13-20%).
Analysts like Mizuho remain bullish (PT $530), citing FSD improvements for potential robotaxi expansion.
But, there’s some concern as an administration law judge in California ruled recently that Tesla’s license to sell or manufacture cars in the state should be suspended for up to 30 days..
The judge determined that the electric vehicle company had engaged in deceptive marketing around Autopilot.
2025 Robotaxi Market Overview: Robotaxis became mainstream in 2025, with autonomous rides now common in major U.S. cities and parts of Asia.
Waymo (Alphabet) leads decisively: Fully driverless services in 5 markets (Phoenix, SF Bay Area, LA, Austin, Atlanta); ~450,000 weekly paid rides; 14M trips in 2025 (on track for >20M). Plans for 2026 launches in 11+ U.S. cities (e.g., Dallas, Miami, London as first international). Expanded to teens and freeways; testing in harsh weather.
Zoox (Amazon): Launched free public driverless rides in Las Vegas and SF neighborhoods using purpose-built, steering-wheel-free vehicles. Planning paid services in 2026; new factory for scaled production.
Tesla: Launched supervised Robotaxi service in Austin/SF (human monitors onboard); recent unoccupied tests mark progress, but no fully driverless commercial rides yet. Small fleet (~60 vehicles planned by year-end); regulatory hurdles remain.
Chinese players like Baidu's Apollo Go dominate domestically (~250,000 weekly rides) and eye international growth.
Safety concerns linger (e.g., recalls, incidents), with ~66% of U.S. drivers still fearful of AVs. Fares remain higher than traditional rides, but costs could drop with scale. 2026 promises fiercer competition as fleets grow.
Interesting: Major tech firms (OpenAI, Meta, Microsoft) are urging Congress to pass the SPEED Act, which would streamline federal permitting for AI infrastructure and U.S. semiconductor production projects. The bill advanced via a key procedural vote on Tuesday and could face a full House vote this week.
Pfizer forecast modest 2026 guidance as it looks to counter waning Covid product sales and declines from older drugs.
Birkin bag prices are sinking at auction despite high-profile sales.
Surprising: Nasdaq plans to seek SEC approval for extending U.S. stock trading to nearly 24 hours a day, five days a week, with a 23-hour session (4 a.m. to 8 p.m. ET day session, plus 9 p.m. to 4 a.m. night session after a one-hour pause), potentially launching in late 2026. While aimed at meeting retail demand for anytime trading, critics on Wall Street warn it could further gamify markets, exacerbate thin liquidity and volatility, disrupt corporate news releases, and force institutions to staff desks around the clock, with some calling it "the worst thing in the world" for market structure.
💵 Personal Finance
How to Ask for a Raise
You think you deserve a raise? It’s time to ask for one.
When to Ask
It's routine: Managers handle salary talks regularly; requesting one won't damage your relationship if your performance is strong and the amount is reasonable.
Timing matters: Wait at least a year since your last raise (unless the role changed dramatically). Ideal after excellent work, during budget cycles, or when your boss is in a good mood.
Align with company cycles: Ask 1–2 months before annual reviews or fiscal planning for better chances.
Read the room: Avoid stressful periods; capitalize on recent successes.
Preparation
Research market value: Check salaries for your role, experience, and location via networking, recruiters, or industry data. Include both genders to spot potential pay gaps.
Understand your company: Know typical raise sizes (e.g., 5% caps) and internal structures.
During the Conversation
Keep it brief: No long presentation needed. Example scripts:
"I've taken on new responsibilities like X and Y, exceeding our goals. Can we discuss adjusting my salary to reflect this?"
Name a specific figure if ready (e.g., "$X"), or wait to be asked.
Provide a short bullet-point summary of achievements for approval processes.
Handle responses:
"Maybe": Clarify follow-up (e.g., "Can I check back on the 20th?").
"No": Ask, "What would it take for a raise in the future?" Use this to plan your next steps—or consider leaving.
A raise ensures fair pay and retention. If denied without a clear path forward, it may signal time to explore other opportunities.
💰 Be a Better Investor
“Waiting helps you as an investor, and a lot of people just can’t stand to wait.”
Shelby MC
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