The Morning Market Briefing

Andrew, Ben, and Tom discuss the Warner Bros. and Netflix deal talks, Meta scaling back the Metaverse, and Scheinbaum’s first meeting with Trump.  Song: Drops of Jupiter (Tell Me) - Train For information on how to join the Zoom calls live each morning at 8:30 EST, visit: https://www.narwhal.com/blog/daily-market-briefings Please see disclosures: https://www.narwhal.com/disclosure

Andrew, Ben, and Tom discuss Trump’s announcements yesterday and bond investors’ concerns about Kevin Hassett.  Song: Colder Weather - Zac Brown Band For information on how to join the Zoom calls live each morning at 8:30 EST, visit: https://www.narwhal.com/blog/daily-market-briefings Please see disclosures: https://www.narwhal.com/disclosure

Ben and Tom discuss ADP employment, the Dell family donation, and updates on the consumer. Song: Back to December - Taylor Swift For information on how to join the Zoom calls live each morning at 8:30 EST, visit: https://www.narwhal.com/blog/daily-market-briefings Please see disclosures: https://www.narwhal.com/disclosure

Ben discusses Apple's AI chief stepping down, OpenAI's 'code red' warning, Signet's earnings, and ISM Manufacturing data. Song: A Long December - Counting Crows For information on how to join the Zoom calls live each morning at 8:30 EST, visit: https://www.narwhal.com/blog/daily-market-briefings Please see disclosures: https://www.narwhal.com/disclosure

Ben and Tom discuss Black Friday sales, central bank rate cuts, and slowing auto sales. Song: December - Collective Soul For information on how to join the Zoom calls live each morning at 8:30 EST, visit: https://www.narwhal.com/blog/daily-market-briefings Please see disclosures: https://www.narwhal.com/disclosure

Andrew and Tom discuss Urban Outfitters earnings, Nvidia defending itself once again, and a college football preview. Song: Thank God I’m a Country Boy - John Denver For information on how to join the Zoom calls live each morning at 8:30 EST, visit: https://www.narwhal.com/blog/daily-market-briefings Please see disclosures: https://www.narwhal.com/disclosure

Andrew, Ben, and Tom discuss the potential Russia/Ukraine peace deal, Meta in talks to use Alphabet's TPUs, and Nvidia's "We're not Enron" memo. Song: Mountain Music - Alabama For information on how to join the Zoom calls live each morning at 8:30 EST, visit: https://www.narwhal.com/blog/daily-market-briefings Please see disclosures: https://www.narwhal.com/disclosure

Andrew, Ben, and Tom discuss Bessent's interview with Meet the Press, progress on the Russia/Ukraine peace deal, and Lenovo stockpiling memory chips.  Song: Little Bitty - Alan Jackson For information on how to join the Zoom calls live each morning at 8:30 EST, visit: https://www.narwhal.com/blog/daily-market-briefings Please see disclosures: https://www.narwhal.com/disclosure

Andrew, Ben, and Tom discuss the sell-off, GAP earnings, and the week ahead.  Song: Hash Pipe - Weezer For information on how to join the Zoom calls live each morning at 8:30 EST, visit: https://www.narwhal.com/blog/daily-market-briefings Please see disclosures: https://www.narwhal.com/disclosure

Andrew, Ben, and Tom discuss Nvidia earnings, Walmart's move to Nasdaq, and Mamdani's upcoming visit to the White House. Song: All My Rowdy Friends (Have Settled Down) - Hank Williams Jr. For information on how to join the Zoom calls live each morning at 8:30 EST, visit: https://www.narwhal.com/blog/daily-market-briefings Please see disclosures: https://www.narwhal.com/disclosure

Andrew, Ben, and Tom discuss Trump's meeting with MBS and an update on the China rare earth deal.  Song: Every Rose Has Its Thorn - Poison For information on how to join the Zoom calls live each morning at 8:30 EST, visit: https://www.narwhal.com/blog/daily-market-briefings Please see disclosures: https://www.narwhal.com/disclosure

Ben and Tom discuss Home Depot earnings and what to make of the market sell-off.  Song: You Don’t Know How It Feels - Tom Petty For information on how to join the Zoom calls live each morning at 8:30 EST, visit: https://www.narwhal.com/blog/daily-market-briefings Please see disclosures: https://www.narwhal.com/disclosure

Andrew, Ben, and Tom discuss Apple stepping up its succession planning for Tim Cook, Berkshire's stake in Alphabet, and the week ahead.  Song: Wrapped Around Your Finger - The Police For information on how to join the Zoom calls live each morning at 8:30 EST, visit: https://www.narwhal.com/blog/daily-market-briefings Please see disclosures: https://www.narwhal.com/disclosure

Andrew, Ben, and Tom discuss what happened in yesterday's market, the bidding war for Warner Bros, portable mortgages, and the week ahead.  Song: Kokomo - The Beach Boys For information on how to join the Zoom calls live each morning at 8:30 EST, visit: https://www.narwhal.com/blog/daily-market-briefings Please see disclosures: https://www.narwhal.com/disclosure

Ben and Tom discuss the end of the shutdown and its impact, Michael Burry’s decision to close his hedge fund, and various earnings reports. Song: The Ride - David Allan Coe For information on how to join the Zoom calls live each morning at 8:30 EST, visit: https://www.narwhal.com/blog/daily-market-briefings Please see disclosures: https://www.narwhal.com/disclosure

Andrew, Ben, and Tom discuss Bessent's latest comments on tariffs, AMD reenergizing data center interest, and the US Navy considering a temporary base near Gaza.  Song: Pinball Wizard - The Who For information on how to join the Zoom calls live each morning at 8:30 EST, visit: https://www.narwhal.com/blog/daily-market-briefings Please see disclosures: https://www.narwhal.com/disclosure

Ben and Tom discuss the Senate passing the shutdown deal and NFIB small business optimism.  Song: Fortunate Son - Creedence Clearwater Revival  For information on how to join the Zoom calls live each morning at 8:30 EST, visit: https://www.narwhal.com/blog/daily-market-briefings Please see disclosures: https://www.narwhal.com/disclosure

Andrew, Ben, and Tom discuss the Visa/Mastercard settlement and an update on the shutdown.  Song: Where the Blacktop Ends - Keith Urban For information on how to join the Zoom calls live each morning at 8:30 EST, visit: https://www.narwhal.com/blog/daily-market-briefings Please see disclosures: https://www.narwhal.com/disclosure

Ben discusses various company's news, the effects of record high MMF balances, and gives his thoughts on football for the weekend ahead.  For information on how to join the Zoom calls live each morning at 8:30 EST, visit: https://www.narwhal.com/blog/daily-market-briefings Please see disclosures: https://www.narwhal.com/disclosure

Ben discusses the tariff hearings in the Supreme Court, Bank of England, and Apple's new deal with Google for AI Siri. We had internet issues this morning, so I apologize for the poor audio in the first five minutes.  For information on how to join the Zoom calls live each morning at 8:30 EST, visit: https://www.narwhal.com/blog/daily-market-briefings Please see disclosures: https://www.narwhal.co...

Ben and Tom discuss the New York mayoral election results, weight loss drugs, Japan, AI company earnings, and Google's acquisition of Wiz. Song: In Spite of Ourselves - John Prine For information on how to join the Zoom calls live each morning at 8:30 EST, visit: https://www.narwhal.com/blog/daily-market-briefings Please see disclosures: https://www.narwhal.com/disclosure

Ben and Tom discuss the New York mayoral elections, the ISM Manufacturing Report, and Starbucks selling 60% of its China unit to Boyu Capital.  Song: O.D.'d In Denver - Hank Williams Jr. For information on how to join the Zoom calls live each morning at 8:30 EST, visit: https://www.narwhal.com/blog/daily-market-briefings Please see disclosures: https://www.narwhal.com/disclosure

Andrew, Ben, and Tom discuss Alphabet selling 3 billion Euros and update on the China deal.      Song: Rock’n Me - Steve Miller Band For information on how to join the Zoom calls live each morning at 8:30 EST, visit: https://www.narwhal.com/blog/daily-market-briefings Please see disclosures: https://www.narwhal.com/disclosure

This past week, we traveled to Las Vegas to do a live podcast at the Money 20/20 conference. This is the recording from our session.  For information on how to join the Zoom calls live each morning at 8:30 EST, visit: https://www.narwhal.com/blog/daily-market-briefings Please see disclosures: https://www.narwhal.com/disclosure

Andrew, Ben, and Tom discuss more big tech earnings and the latest private credit fraud.    Song: Thriller - Michael Jackson For information on how to join the Zoom calls live each morning at 8:30 EST, visit: https://www.narwhal.com/blog/daily-market-briefings Please see disclosures: https://www.narwhal.com/disclosure