💼 Sacks named Crypto Czar

PLUS - Musk works Congress eying $2 trillion budget chop -your briefing inside...                                                                                                                                                                                                                                                                                                                                                                                                                 December 06, 2024 | [Read Online](  Good morning. The Fast Five →[Â]([David Sacks]( named as White House AI and Crypto Czar, [Musk works Congress]( eyeing targeting $2 trillion budget chop, Bitcoin believers bask in ‘I[-told-you-so glow](’, electricity demand[forecast to surge]( 16% over next five years, and [GameStop jumps]( after post from 'Roaring Kitty' rekindles hype… 📈 Goldman Sachs: [“More Than 1,600 New Millionaires Quietly Being Anointed Due to Breakthrough Technology”]( From Porter Stansberry Calendar: (all times ET) - [Full calendar]( - Today: Unemployment report, 8:30 am Consumer sentiment, 10:00 am - Monday: Wholesale inventories, 10:00 am Consumer inflation expectations, 11:00 am Your 5-minute briefing for Friday, December 6: BEFORE THE OPEN As of market close 12/5/2024. Pre-Market: US Investor % Bullish Sentiment: ↑ 48.33% for Week of December 05 2024* Previous week: 41.29%. Updates every Friday. Market Wrap: - Stocks fell as investors awaited Friday's jobs report. - Dow -248.33 pts (-0.55%), Nasdaq -0.18%, S&P -0.19%. - Economists expect Nov. jobs growth of 214K. - Powell: Fed can move cautiously; labor market strong. - Bitcoin dipped below $100K after hitting a record. Crypto stocks like MicroStrategy (-4.8%) and Coinbase (-3.1%) gave up earlier gains. EARNINGS Here’s what we’re watching today. [Full calendar »]( - Today: DocuSign ([DOCU](), Hewlett Packard ([HPE](), Lululemon ([LULU]() - [Ulta (ULTA)]( - earnings of $4.51 per share (-11% YoY) on $2.5B revenue (+0.2% YoY) HEADLINES [Trump Names David Sacks as White House AI and Crypto Czar]( The newly created position underscores the US president-elect’s intent to boost two rapidly developing industries. [Musk Works Congress as He Targets $2 Trillion Budget Chop]( Elon Musk met with lawmakers Thursday to stoke congressional enthusiasm for his ambitious effort to slash at least $2 trillion from the federal budget, a level of austerity unprecedented in the US since the winding down of World War II. - Indexes dip with UnitedHealth, tech, ahead of jobs report ([more]() - Jobs report to show hiring rebounded after storms and strike ([more]() - Oil dips on letdown after expected OPEC+ production delay ([more]() - Gold steady after Powell flags cautious approach to rate cuts ([more]() - Mortgage rates fall for second straight week, lowest since October ([more]() - Wall Street banks predict biggest China rate cuts in a decade ([more]() - US electricity demand forecast to surge 16% over next five years ([more]() - Bitcoin to replace gold over next decade, says Bernstein ([more]() - BTC true believers bask in I-Told-You-So glow at $100,000 ([more]() - GameStop jumps after post from 'Roaring Kitty' rekindles retail hype ([more]() - Musk’s xAI wraps up $6 bln in funding in latest round ([more]() - OpenAI launches $200 ChatGPT subscription for research use ([more]() - Citi’s M&A head to exit bank after 13 years ([more]() TOGETHER WITH RYSE This Smart Home Company Has Already Hit $10 Million in Revenue—and It’s Just Getting Started What if your window shades could do more than just block sunlight? Meet [RYSE](, the company transforming everyday window shades into smart, automated devices. With over $10 million in total revenue, 10 granted patents, and products already available in 127 Best Buy locations, [RYSE]( is growing at an incredible pace—200% over the last month, to be exact. And they’re only getting started. With plans to expand internationally and partnerships with major retailers like Home Depot and Lowe’s, [RYSE]( is set to become a household name in the rapidly growing smart home market. Now, you have the chance to invest for just $1.75 per share and join a company poised for explosive growth. [Invest now before the round closes—opportunities like this don’t wait!]( DEALFLOW M+A | Investments - Covalis Capital puts up £5 bln takeover bid for Thames Water ([more]() - Slim Jim maker Conagra exploring sale of Chef Boyardee ([more]() - Syte, an AI-powered product recommendation engine built from the ground up for apparel eCommerce, received an investment from Pereg Ventures ([more]() VC - Veeam Software, a global leader in Data Resilience, announced shareholder base expansion in a $2 bln secondary offering, valuing company at $15B ([more]() - Nuvig Therapeutics, a privately held biotech company developing novel immunomodulatory therapeutics, raised $161M in Series B funding ([more]() - Tractian, a company specializing in manufacturing AI, secured $120M in Series C funding ([more]() - AMP, an AI-powered sortation at scale for the waste and recycling industry, raised $91M in Series D funding ([more]() - Sollis Health, a concierge medicine provider, raised $33M in Series B funding ([more]() - Steno, a tech-enabled provider of legal support and court reporting services, received $20M in funding from Trinity Capital ([more]() - BRM, an AI-powered vendor management and procurement platform, raised $15M in Series A funding ([more]() - Ethyca, a company specializing in data privacy engineering, raised $10M in funding ([more]() - Pixeltable, an open-source AI data infrastructure company, raised $5.5M in Seed funding ([more]() - Celleste Bio, an early-stage cocoa-tech company, raised $4.5M in Seed funding ([more]() - Sekai, an AI-driven storytelling platform, raised $3.1M in Seed funding ([more]() - Sightglass, an AI-powered investor relations platform for the private markets, raised $3M in Seed funding ([more]() - Scalestack, a go-to-market orchestration and agentic platform, raised $3M in funding ([more]() - Orbite, a space training and operations company for space explorers, raised an undisclosed amount in Series A funding ([more]() - EvenFlow AI, a company specializing in AI optimization solutions for automotive dealership service departments, raised $1.5M in Seed funding ([more]() - Care IO, a startup specializing in healthcare data governance and interoperability, raised a strategic seed funding round ([more]() - Across AI, a startup developing Agentic AI for enterprise workflows, raised an undisclosed amount in Seed funding ([more]() CRYPTO - Bitcoin options shows traders already hedging after record rally to $100,000 ([more]() - MicroStrategy's Bitcoin buys clock $17B profit ([more]() - Summers blasts US national Bitcoin reserve idea as ‘crazy’ ([more]() - Memecoins reach $140B market cap and gain ground in crypto economy ([more]() BULLISH BITES 🚨 Investor Alert: [NVIDIA shares could drop by 50%]([Â](* 👀 Inside Look: He was going to save Intel. He [destroyed]( $150 billion of value instead. 🙈 Loophole: Wealthy Americans are still ducking the [IRS crackdown]( on non-filers. 🏚 Pursuits: The tech elite are transforming their homes into [military bunkers](. 🎁 Gift Idea: The best books for every type of [wine lover]( this holiday season. DAILY SHARES [tw profile: wallstreetbets] wallstreetbets @wallstreetbets [tw] nice-guy bitcoin, went back to the station to get everyone who missed the train and give them a second chance to get on board across the 100k mark. 1:49 AM • Dec 6, 2024 89 Likes 4 Retweets 29 Replies [tw profile: Dr. Parik Patel, BA, CFA, ACCA Esq.] Dr. Parik Patel, BA, CFA, ACCA Esq. @ParikPatelCFA [tw] Uber has no cars Airbnb has no hotels Bitcoin has no coins This is the new economy 7:10 PM • Dec 5, 2024 1.07K Likes 94 Retweets 79 Replies What did you think about today's briefing? - [⭐️⭐️⭐️⭐️⭐️ Excellent, keep it comin'!]( - [⭐️⭐️⭐️⭐️ Good stuff]( - [⭐️⭐️⭐️ It was alright]( - [⭐️ Needs work]( Have a comment or suggestion? 💌 [Send us a message](mailto:feedback@marketbriefing.com) [ADVERTISE]( | [SUBSCRIBE]( *from our sponsor Disclaimer: Market Briefing© is a news publisher. All statements and expressions herein are the sole opinions of the authors or paid advertisers. 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