🛬 A Soft Landing Is Within Reach Says...?

Good morning. US stock futures inched higher in Wednesday morning trading as investors looked toward the latest US trade data.

🛬 Banking exec: Soft landing within range

📝 Our report: CEO of Goldman Sachs David Solomon is confident about the economic outlook for 2024, noting the resilience and strength shown by customers and businesses this year. The US economy has managed to avoid a recession or major economic decline in 2023 despite having to grapple with historically high levels of inflation and Federal Reserve interest rates increases.  

 🔑 Key points:

• "People continue to be cautious on the U.S. economy, but I think it's very, very clear that the U.S. economy has been more resilient than we expected... As I look at 2024, I think the chance for a softer landing is much, much higher.” Solomon said

• The US Federal Reserve has said before they believe a soft landing for the economy was a real possibility as they worked to ease historically high US inflation while not harming the job market.

• Solomon added that he felt it was still necessary for consumer to be “cautious” as there was still “a lot of uncertainty”

💡 So what: Achieving a soft landing for the U.S. economy is of paramount importance as it seeks to avoid a sharp economic downturn or recession, ensuring stability and averting widespread job losses. Beyond preventing a crisis, a soft landing is instrumental in maintaining price stability by managing inflationary pressures and fostering confidence in financial markets. The associated stable economic conditions contribute to employment stability, reducing income inequality and supporting social well-being.

Wednesday - US Trade Deficit

Thursday - Consumer Credit

Friday - Consumer Sentiment, US Unemployment Rate

 📊 Do you know THIS investing rule of thumb?

💻 Three trillion reason for Apple to be happy

💰 These are the different types of financial advisors

 📈 Get 5.1% APY For Your Extra Cash

Many of you ask where we’re putting our extra cash to earn the highest interest while still having access to it.

I’ve looked through plenty of high yield options and my top pick is Moomoo. It’s offering one of the highest yields available today at 5.1% APY.

And the best part? No minimum deposits, no cap on interests, and you can withdraw your cash at anytime.

Moomoo is offering Daily Market Briefs subscribers a limited-time deal: earn 5.1% APY on your cash and get up to 15 free stocks.

PS: Despite the funny name, Moomoo is a registered broker dealer with the SEC and is a member of SIPC meaning you’re insured up to $500,000.

🖥️ Amazon takes swipe at Microsoft in cloud computing rivalry

WHAT: Amazon's throwing some shade at Microsoft, telling Britain's antitrust squad that the tech giant is playing the cloud game with rules that cramp customer style. In a letter published on Britain's Competition and Markets Authority (CMA) website, Amazon said changes to Microsoft’s terms of services had made it difficult for customers to switch to alternative cloud providers, or run competitors’ services alongside.

WHY: The CMA launched an investigation into the country’s cloud computing industry in October, following a referral from media regulator Ofcom that highlighted Amazon and Microsoft’s dominance of the market.

📈 ECB sticks with interest rate strategy

WHAT: The European Central Bank is playing a game of "No-Cut-Zone" with borrowing costs, at least if Governing Council member Boris Vujcic's crystal ball of economic forecasts holds up. “If our projection, the way it is, proves right in 2024 and 2025, then it’s quite certain that there will be cuts in interest rates,” Vujcic said at a conference in Belgrade. “It’s not something to be expected short-term, it’s too early to talk about that.”

WHY: Inflation in the eurozone is slowing more quickly than anticipated, prompting markets and some analysts to bet on rate cuts as soon as March of next year.

🪓 Consulting firm touts AI as boost to Wall Street profits

WHAT: Banks, listen up! Apparently, if you cozy up with generative artificial intelligence tools, you could be swimming in an extra $340 billion each year. This is according to the latest report from consulting firm McKinsey Global Institute. The report added that by using GenAI tools, banks could see a 9%-15% increase in their operating profits annually.

WHY: Generative AI was popularized last year when OpenAI’s ChatGPT tool launched, offering users sentences, summaries or even poetry based on simple prompts. The technology is trained on vast quantities of existing material that is used to generate its responses.

✏️ DMB Insider Quiz ✏️

🧑‍💻 We read your emails and poll replies daily.

Hit reply and let us know what you want more of!

See ya next time, Daily Market Briefs