Trump Names Tech Investor Crypto Czar

HEADLINES
What You Need To Know

David Sacks, venture capitalist and host of the popular "All-In" podcast, has been appointed as President-elect Donald Trump’s “White House A.I. & Crypto Czar.” Sacks will shape the administration's policies on artificial intelligence and cryptocurrency, including developing a regulatory framework for crypto and leading a presidential council on science and technology. As a member of the famed "PayPal mafia" and a key figure in Silicon Valley, Sacks’ involvement signals the administration’s intent to align with tech industry players.

UnitedHealth CEO Brian Thompson was tragically shot outside a New York City hotel on his way to the company’s investor meeting in what police are calling a targeted attack. Thompson, a key leader at the nation’s largest health insurer, had reportedly been receiving threats but hadn’t altered his travel habits. While the motive remains unclear, this shocking event has raised security concerns for corporate executives. UnitedHealth canceled its investor day, and investigations are underway as authorities search for the assailant, who remains at large.

The Thanksgiving box office brought a much-needed feast for struggling movie studios. Disney’s Moana 2, Universal’s Wicked, and Paramount’s Gladiator II combined to generate an estimated $420 million over the five-day holiday—marking the biggest Thanksgiving haul in history. This historic performance is great news for theaters and studios alike, as many have been struggling with lower-than-expected attendance. After a sluggish fall, the strong Thanksgiving turnout has narrowed the 2024 box office gap to just 6.4% behind last year, proving audiences still crave big-screen magic.

A federal judge has rejected Boeing’s plea deal related to the 737 Max crashes, citing concerns over the selection process for a government-appointed monitor. The judge questioned whether diversity, equity, and inclusion (DEI) policies might influence the choice, insisting it must be based solely on competency to ensure public trust. This decision reopens the criminal fraud case tied to the crashes that killed 346 people in 2018 and 2019. Victims' families, who criticized the initial agreement as a “sweetheart deal,” praised the ruling and called for tougher accountability measures. Boeing and the Justice Department now have 30 days to decide their next steps.

UPCOMING
What You Need To Watch

The Goldman Sachs Financial Services Conference kicks off on Tuesday, December 10, 2024, featuring key industry leaders. Notably, Coinbase's CFO, Alesia Haas, will participate in a fireside chat at 11:20 p.m. ET, highlighting Wall Street's growing embrace of cryptocurrency.

On Wednesday, OPEC will release its Monthly Oil Market Report, offering insights into global oil demand, supply, and market dynamics. This report is particularly significant following OPEC+'s recent decision to extend deep oil production cuts into 2025 to address weak demand growth and rising U.S. production.

On Thursday, the U.S. Initial Jobless Claims report will be released. This report provides a weekly snapshot of the number of people who filed for unemployment benefits for the first time, a key indicator of labor market health.

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WATCH INVESTMENT FEES

Investment fees might seem small, but over time, they can significantly erode your returns. Choosing low-cost options like ETFs can make a big difference. For instance, the Vanguard S&P 500 ETF (VOO) has an expense ratio of just 0.03%, meaning you'd pay only $3 annually for every $10,000 invested. In contrast, an actively managed mutual fund with a 1% expense ratio would cost you $100 per year on the same investment. Over 20 years, assuming a 7% annual return before fees, your investment in the low-cost ETF could grow to approximately $38,480, while the high-fee mutual fund might grow to about $32,071. That's a difference of over $6,400, illustrating how higher fees can substantially reduce your investment gains. Always check the expense ratios and opt for low-fee investment options to maximize your returns.

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Inverse Cramer Vs. Nancy Pelosi

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P/E Ratio

The Price-to-Earnings (P/E) ratio is a tool to measure how much investors are willing to pay for a company’s earnings. It’s calculated by dividing a company’s stock price by its earnings per share (EPS). For example, if a stock is priced at $50 and its EPS is $5, the P/E ratio is 10. A lower P/E might suggest a stock is undervalued, while a higher P/E could indicate growth potential or an overvalued stock. Comparing a company's P/E to others in its industry or its historical average helps investors gauge if the stock is priced fairly.

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