Good Morning Everyone!

Remember, if (NYSE:AMC) and (NYSE:GME) apes can stay bullish after all this time, you can invest in the stock market every month.

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Prices as of 4 pm EST, 12/5/22; % YTD

MARKET UPDATE

18 trading days left in 2022

• Volumes low ahead of next week’s FOMC meeting

2-10 curve inverted to levels not seen since the 1980s

• Suggests an economic slowdown with most pointing to potential recession in second half of 2023

China

• Covid cases have fallen each of the past 8 days since peaking in late November

Crude   

• Massive in oil prices and energy stocks

• Energy best performer of 2023

• Oil prices roughly flat YTD

• Which one is right?

PepsiCo (NASDAQ:PEP)

• Laying off hundreds of workers

• Corporate belt-tightening

• Other bellwethers that have recently downsized: Walmart (NYSE:WMT) and Ford (NYSE:F)

Earnings

• AutoZone (NYSE:AZO)

CRYPTO UPDATE

Crypto lender Nexo saying goodbye to US markets

• Will stop offering products/services in US in coming months

• Earn Interest Product halted immediately in 8 states

• Company hit “dead end” in regulator talks:

“the U.S. refuses to provide a path forward for enabling blockchain businesses and we cannot give our customers confidence that regulators are focused on their best interests” – Nexo

Digital asset investment product flows

• Minor outflows of $7 million last week

• However, most outflows came from short investment products

• Bitcoin (CRYPTO: BTC) inflows $11 million, short-Bitcoin outflows also $11 million

• Ethereum (CRYPTO: ETH) 3rd straight week of minor outflows

• Altcoins mixed/flat

MEME OF THE DAY

pic.twitter.com/6rxEXosKh7

— Wall Street Memes (@wallstmemes) December 6, 2022