TOGETHER WITH
Hey there weekday warrior. Here’s what’s on tap today… The Nasdaq can go all night long, November jobs were weak sauce, and Databricks avoids IPO like it’s the plague.
Enjoy the next 3 minutes and 21 seconds of blue-chip news and commentary.
Keep on snapping necks and cashing checks,
No rest for the wicked
“It’s gambling, and I’m tired of pretending it’s not.” - The Nasdaq
The National Association of Securities Dealers Automated Quotations (admit it, you didn’t know what that acronym stood for) is planning to file with the SEC to go full send with round-the-clock trading. Well, technically, 23/5 trading.
Nonstop trading is expected to roll out for Nasdaq in the second half of 2026. *Extended release Add*rall has entered the chat.*
The new schedule means a “day session” of 4 am to 8 pm and a “night session” from 9 pm to 4 am. Shout out to the new generation of “night traders.”
One hour per day would be dedicated to maintenance and settlement. And Saturdays and Sundays would remain sacred (for the Sabbath, and rampant insider trading).
Friendly reminder that the NYSE already received approval from the SEC for its own extended-hours model, eyeing a 22-hour/weekday schedule.
Some narcs on the Street (so, Wells Fargo) think this is a very, very bad idea. The bank that illegally opened like 12 accounts in your name had this to say: “This is literally the worst thing in the world. I cannot think of an action that single-handedly gamifies the stock market even more than it has already become. This is the epitome of making trading even more like gambling.”
No one tell them about Robinhood after-hours trading…
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+ Yeah, that’s gonna be a no from me, dawg…
Per Reuters, Warner Bros. Discovery $WBD ( ▲ 0.58% ) board is planning to announce a decision on Paramount Skydance’s $PSKY ( ▲ 0.31% ) hostile bid as early as today. Apparently, they’ll recommend that shareholders reject the deal and stick with Netflix.
Per the sources familiar with the situation, WBD is concerned about PSKY’s ability to secure funding. Rumor has it that Jared Kushner’s PE shop has pulled its cash.
Of course, WBD shareholders don’t have to listen to management. Friendly reminder: that’s exactly what David Ellison is betting on.
+ Better late than never, I guess…
The November jobs report is in (finally), and the headline is… call your loved ones (and ask for a loan). Unemployment jumped to 4.6%, the highest we’ve seen since September 2021…
According to the BLS, employers added 64k jobs, beating expectations of 45k and well above October’s job loss (-105k). So, we’ve got that going for us, which is nice.
+ IPOs are like the Sopranos (read: it’s over)…
Data intelligence company Databricks has absolutely zero intention of creating public shareholder value. Those AI nerds just got their Series L (not a typo) on, raising $4B at a $134B valuation. No one tell Elon. I’m THIS close to owning a piece of SpaceX…
Really, the only thing to be said about a Series L is…
> Mark Zuckerberg’s Meta allows rampant scam ads from China while raking in billions, explosive report says (NY Post) // Yeah, that tracks.
> Medline’s Upsized $6.26 Billion IPO Is Year’s Biggest Listing (Bloomberg) // Imagine letting a medical device maker be the biggest IPO the same year that AI was named TIME’s Person of the Year…
> Tesla stock closes at record as investors rally around Musk's robotaxi hype despite slow EV sales (CNBC) // What a time to be alive…
> Oof.
+ US stocks “diverged on Tuesday, Tesla (TSLA) stock hitting a new record at the same time that the Dow and S&P 500 slumped as investors saw a mixed picture from updates on the labor market.” (Yahoo! Finance)
+ The 10-year yield “fell slightly Tuesday after the latest jobs report showed a mixed picture of the U.S. economy.” (CNBC)
+ Oil “dropped sharply Tuesday as expectations of a 2026 supply glut remained in play, while the focus was also on any signs of progress in ongoing ceasefire talks between Russia and Ukraine.” (Reuters)
+ The “smart” money (prediction markets) thinks the top contender for SpaceX’s public ticker is “SPAX.” Current odds have it 23%. (Polymarket)
⏪ Yesterday…
+ Lennar reported after the close
+ The October and November jobs reports were released
+ October Retail Sales dropped
⏩ Today we’re keeping an eye on…
+ General Mills and Jabil Circuit report before the open
+ Micron Tech reports after the close
Yesterday, I asked, “You can bring back only ONE of these bankrupt companies for the next generation to experience. Which one you resurrecting?”
35.6% of you said, “Toys "R" Us.”
Here’s what some of you guys had to say…
Toys "R" Us: “Once a Toys R’ Us Kid, always a Toys R’ Us Kid.”
Blockbuster: “People will never know the power of being able to have that blockbuster membership card”
Other: “Amazon (when it was just a book company and should have gone bankrupt).”
Blockbuster: “Hell, my friends and I spent more time picking out the movie than we did watching it. FOND memories of walking through the aisles with my friends.”
Borders: “This is a tough choice but I think Barnes And Noble needs competition back. I always liked Borders more than them.”
Toys "R" Us: “Give back one of the greatest stores NYC ever saw, putting a giant Ferris wheel in the middle of it. I mean, cmon, who didn’t ride that if they went to it!”
Here’s today’s question…
Which is the worst financial invention of all time?
Oh, and one more thing…
What did you think about today's newsletter?
Sent from my Amazon Fire Phone. Please excuse any mistakes and typos.
Does this look like the face of a guy you should take financial advice from?
No, it’s the face of an individual who is financially irresponsible/dumb enough to be talked into spending money on a family photo shoot that he could have just done with his iPhone. So, act accordingly...
This is not financial advice. Nothing in this newsletter is an investment recommendation. All content is created for entertainment, educational, or informational purposes only. Do your own research, or do yourself a favor and hire a professional.