In partnership with
Good morning investors! The market had a very bad day yesterday as investors bear for more bad news.
Today we cover:
Stocks plunge
Big earnings
Crypto falls
📊 Economy and News
Wall Street Plunges as Fed Rate Cut Hopes Fade, AI Stocks Tank
U.S. stocks tumbled Thursday—the sharpest daily declines in over a month.
Nvidia shed 3.6%, Tesla 6.6%, and Broadcom 4.3%, as investors worried over high AI valuations amid cooling rate-cut expectations. Fed officials cited persistent inflation and labor market stability, slashing December cut odds to ~47% from 70% last week.
"The tariff inflation question is key—transitory or not? That's why some Fed governors hesitate," said Jake Dollarhide of Longbow Asset Management.
Tech rotation hit hard: Consumer discretionary down 2.73%, IT 2.37%. Disney plunged 7.8% on YouTube TV disputes; Cisco rose 4.7% on upbeat forecasts.
Volume surged to 20.8B shares. Decliners outpaced advancers 2.8:1 in S&P 500.
Global hits:
BBC appologizes to Trump over speech edit, rejects defamation claim.
Brazil trims 2025 growth, inflation forecasts amid slowdown.
China’s October new bank loans fall sharply, missing forecast.
China’s biggest shopping festival, the equivalent of Black Friday in the U.S., saw a 14.2% increase in sales year on year, slower than the 26.6% year-on-year growth in 2024′s Singles’ Day.
Growth to slow? The International Monetary Fund (IMF) reports mounting strains in the U.S. economy, with Q4 growth expected to slow below the prior 1.9% forecast. IMF spokesperson Julie Kozack highlighted factors including reduced immigration, tariffs, policy uncertainty, and persistent inflation pressures despite progress toward the Fed’s 2% target.
Reminder: U.S. BLS to announce revised news release dates after 2025 shutdown. New foreclosures jump 20% in October, a sign of more distress in the housing market.
What does AI stand for?
Sponsored by Roku
Find your customers on Roku this Black Friday
As with any digital ad campaign, the important thing is to reach streaming audiences who will convert. To that end, Roku’s self-service Ads Manager stands ready with powerful segmentation and targeting options. After all, you know your customers, and we know our streaming audience.
Worried it’s too late to spin up new Black Friday creative? With Roku Ads Manager, you can easily import and augment existing creative assets from your social channels. We also have AI-assisted upscaling, so every ad is primed for CTV.
Once you’ve done this, then you can easily set up A/B tests to flight different creative variants and Black Friday offers. If you’re a Shopify brand, you can even run shoppable ads directly on-screen so viewers can purchase with just a click of their Roku remote.
Bonus: we’re gifting you $5K in ad credits when you spend your first $5K on Roku Ads Manager. Just sign up and use code GET5K. Terms apply.
📈 Stocks
S&P 500 6,737.49 (-1.66%)
DJIA 47,457.22 (-1,65%)
NASDAQ 22,870.36 (-2.29%)
BRENT CRUDE 63.01 (+0.31%)
* Prices as of Nov 14th, 12:20 AM UTC
Big earnings are here
StubHub beat Wall Street’s expectations for second-quarter revenue, but declined to give guidance for the current quarter. This caused the stock to fall -20%. The company posted a net loss of $1.33 billion, reflecting a one-time stock-based compensation charge. The ticket vendor held its long-awaited IPO in September.
Singapore Airlines’ quarterly profit slumped as Air India losses and weaker interest income hit results. The carrier’s stake in Air India continues to weigh on earnings as the Indian airline seeks major financial support. While air travel remains resilient heading into the third-quarter peak, SIA warned that air cargo trends remain uncertain.
Tencent posted 15% year-on-year revenue growth, with AI boosting the Chinese tech giant’s performance in advertising targeting and gaming. The Shenzhen-headquartered company noted higher cloud services revenues, including increased demand for AI-related services.
Disney beat analyst estimates on earnings, but missed on revenue expectations. The company’s entertainment unit was buoyed by streaming as the linear TV business experienced further declines in ad revenue. Its flagship streaming service, Disney+, added 3.8 million subscribers during the period, bringing its total to 131.6 million. The bad report sent the stock down over 7%.
Check this: Tesla is recalling around 10,500 of its Powerwall 2 home, backup battery systems due to risk of overheating, burns and fires. The U.S. Consumer Product Safety Commission and Tesla said, in a recall notice, that the issue was due to a “third-party battery cell defect.” Elon Musk’s autos and energy business said it will replace all affected units for Powerwall 2 customers in the U.S.
Under Armour splits with Steph Curry, leaving NBA legend free to find a new business partner.
On the other hand, Oracle is increasingly relying on debt markets to fund the buildout of its artificial intelligence infrastructure. Investors are growing concerned, pushing the stock down more than 30% from its high in September.
Lastly, Starbucks workers union launches strike in more than 40 cities on chain’s key holiday sales day.
Good to know: Google says group behind E-ZPass, USPS text scam has been ‘shut down’ after suit. In other news, MLS games head to Apple TV in 2026 as Season Pass subscription ends. Lastly, Apple cuts App Store fee in half for ‘mini apps’ that integrate more of its software.
🔐 Crypto
Bitcoin $99,354 (-2.24%)
Ether $3,266 (-4.64%)
Solana $145 (-4.43%)
Total market cap $3.24T (-3.16%)
* Prices as of Nov 14th, 12:20 AM UTC
Bitcoin Dives Below $100K for Third Time This Month
Bitcoin slid with stocks on Thursday, dropping below $100,000 with as crypto liquidations topping $500 million
It's the third time the coin has fallen under $100K in November after being above the mark for six months.
Analysts remain upbeat over crypto's medium- to long-term outlook.
Elsewhere, the price of the second biggest digital coin, Ethereum, was down by 5%, trading hands for close to $3,265.
Solana was down slightly about 3.5%, trading at about $148, while XRP was up by 0.5%—priced at $2.36—on news that a spot ETF giving exposure to the asset began trading Thursday.
💵 Personal Finance
Buying a Home Before 2025 Ends: Key Opportunities
Mortgage rates have eased to around 6.22%, down over 1.5% from 2023 highs, making homeownership more affordable.
Instead of timing the market, shop multiple lenders on the same day, compare APRs, and ask about float-down options to capture future drops. For a $350,000 loan, a 0.5% lower rate saves about $117 monthly—over $40,000 in interest over 30 years.
Housing inventory is improving, with 1.55 million existing homes for sale (up 14% year-over-year, equating to 4.6 months’ supply) and new homes at a 9.2-month backlog.
Builders are offering incentives like rate buydowns, upgrades, and closing cost credits to move inventory. Buyers now have more leverage to negotiate price, repairs, or concessions—especially on listings that have lingered.
Home price growth has slowed significantly. National indices show flat or slightly declining prices month-over-month, with annual gains cooling to 1.5% (Case-Shiller, August). Local data matters most—use comparable sales in your target neighborhood to negotiate effectively, even if national headlines suggest rising values.
Rents continue to climb, up 0.1% month-over-month and roughly 4% year-over-year (including owners’ equivalent rent). For renters facing annual increases, a fixed mortgage payment offers budget stability and wealth-building potential over time.
Year-end presents unique advantages:
Fewer competing buyers during the holidays
Potential tax deductions (mortgage points, prorated interest/taxes)
Motivated sellers, agents, and lenders eager to close before January.
Scheduling inspections, appraisals, and underwriting is easier with lower winter volume.
💰 Be a Better Investor
"Financial stability is much more about doing the best with what you have and not about achieving a certain level of income."—
What did you think of today's newsletter?
👩🏽⚖️ Legal Stuff
Nothing in this newsletter is financial advice. Always do your own research and think for yourself.