📉 Who's Saying A 2024 Recession Is Coming?

Good morning. US stock futures were mixed in Thursday morning trading as investors weigh commentary and predictions for the year ahead.

🏦 Big bank says recession coming in 2024

📝 Our report: Cue the dramatic music! According to European powerhouse bank UBS, the US economy will slip into recession next year – and that'll lead to the Federal Reserve bringing in steep interest-rate cuts. UBS said that it's expecting the Fed to respond to falling inflation and an economic slump by slashing rates by an eye-popping 275 basis points in 2024.  

 🔑 Key points:

• "One of the key features of UBS's forecast is the very pronounced Fed easing cycle seen unfolding from March 2024 onwards," a team led by economist Arend Kapteyn and strategist Bhanu Baweja said in a research note.

• The research note also added that it expects rates to plunge to around 1.25% in the first half of 2025.

• Since March 2022, the Fed has lifted borrowing costs from near-zero to around 5.5% in a bid to clamp down on soaring prices.

💡 So what: Approaching recession predictions requires a balanced mix of caution and pragmatism. While economic forecasts can provide insights, they are not crystal balls. Remember, while recessions are a natural part of economic cycles, they're also challenging to predict accurately. It's crucial to make decisions based on your individual financial situation and goals.

Thursday - Initial Jobless Claims (wk end Dec 22)

Friday - No Major Economic News

 💼 Everything you need to know about the Gig Economy

📈 If you’re new to investing, these 6 investments might be right for you!

🔌 Chinese smartphone manufacturer launches first EV

 📈 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.

⌚ Apple dodges watch ban…for now

WHAT: Apple's smartwatches are making a triumphant return to the shelves...for now at least! An appellate court in Washington issued an interim stay of the International Trade Commission’s decision to ban the import and sale of the products at Apple’s official channels after it ruled in favor of Masimo Corp., a medical device maker, in a patent infringement case.

WHY: Apple was forced to stop sales of one of its signature products after the International Trade Commission found the company infringed a pair of Masimo patents related to measuring blood-oxygen saturation.

🔨 New York Times get legal with Microsoft, OpenAI over alleged copyright infringement

WHAT: The New York Times is throwing a legal curveball, suing Microsoft and OpenAI for AI antics. According to a lawsuit filed in New York, the technology firms relied on millions of copyrighted articles to train chatbots like OpenAI’s ChatGPT and other AI features, allegedly causing billions of dollars in statutory and actual damages.

WHY: In July, OpenAI signed an agreement with the Associated Press to access some of the news agency’s archives. OpenAI cut a three-year deal in December with Axel Springer SE to use the German media company’s work for an undisclosed sum.

📺 Amazon goes deeper on ad business

WHAT: Attention, Amazon Prime aficionados! Brace yourselves for a dash of commercial entertainment – ads are joining the party on Prime Video starting Jan. 29. In an email to U.S. members, Amazon formally set a roll out date for an announcement it made back in September when it said it would be launching ads on its Prime video streaming service.

WHY: The tech giant follows other major streamers –- such as Netflix and Disney –- who have embraced a dual model that allows them to earn revenue from ads and also offer subscribers the option to opt out with a higher fee.

✏️ 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