Ben and Tom discuss earnings updates on Maersk, Unilever, Arm, and Disney, signs of life in China, and yesterday’s 10-year bond auction. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Ben and Tom discuss earnings from CVS, CINF, Chipotle, and SNAP, the streaming sports app deal between Disney/Fox/WB, and takeaways from an evening with Kevin Warsh. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Ben and Tom discuss the drone attack in Kuwait, earnings data from Eli Lilly, the Hertz debacle, the massive ISM Services report showing sticky inflation, the SLOOS Report, and the response of the 10-year rate. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Ben and Tom discuss earnings from Caterpillar and McDonald’s, a blockbuster jobs report including accelerating average hourly earnings, the impact of these results on the Fed’s decision making, and another busy week ahead. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Andrew and Super-Producer Hicks discuss today’s (and yesterday’s) top stories including Punxsutawney Phil predicting an early spring, the commentary from Wednesday’s slightly hawkish Fed meeting, New York Community Bank’s earnings report which brought the stock down nearly 40% in a day, a strong ISM manufacturing report which could point to inflation reacceleration, earnings from META, AAPL, and AMZN, a recall for 2 million Tesla vehicles, and more earnings next week. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Tom and Ben discuss the read for today’s Fed meeting, the Saudi Aramco announcement hurting oil servicers, Walmart stock split, and earnings from tech giants MSFT, GOOG, SWKS, and AMD as well as earnings from other companies including SBUX, CP, CB, MDLZ, NVO, TMO, and BA. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Tom and Andrew discuss the JOLTs report coming out at 10:30, the market’s reaction to the announcement that the US is selling fewer treasuries, and earnings from HCA, UPS, GM, and others. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Ben, Tom, and Andrew discuss the US servicemen that were killed in Jordan, the upcoming Fed meeting, and a bevy of earnings this week. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Tom discusses the PCE data, with core PCE coming in slightly better than expected, yesterday’s ECB meeting, the revenue miss and weak guide from INTC, AXP’s positive results, Visa’s weaker earnings commentary, and LVMH’s surprisingly good start to the year proving luxury goods demand remains high. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Tom discusses GDP that comes in hot at 3.3%, an uptick in Initial Jobless Claims, Tesla’s slowing sales, NOW’s strong earnings, CSX’s strong execution, and a quality quarter by Southwest Airlines. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Ben discusses earnings updates from a number of companies, more negative news from Boeing, and China announces a reserve rate cut. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Tom and Ben discuss Japan remaining ultra-dovish, the potential ripple effects of Japan’s future policy changes, a quick dive into the Republican Primary, and earnings reports from RTX, MMM, GD, LMT, and PG showing an economy that is growing, but growing modestly. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Tom and Ben discuss Blackrock looking to sell Shanghai Towers at a discount, ADM’s decision to place the CFO on administrative leave, Tesla’s robotics/AI helping support the company, Capital One’s class-action lawsuit, and a wild earnings week. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Ben dives deep into earnings from JBHT, the read-through of these earnings on the freight market and the economy as a whole, the massive insurance headwinds facing trucking companies, earnings out of SLB, an update on Spirit Airlines, and a busy earnings week next week. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Ben and Tom discuss interest rates, the recent retail sales data, the likelihood of near-term rate cuts, earnings from TSMC, Fastenal, Richemont, Humana, Discover Financial, and a note on the Apple watch. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Ben discusses the Fed talk that was taken very hawkish by the market, economic data out of China, and the Spirit Airline & Jet Blue deal that is falling apart. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Tom, Ben, and Andrew discuss more tension in the Red Sea as American ships have been deemed fair game by terrorists, oil unaffected by the conflict, Zelensky’s “peace talks” in Switzerland, Fed officials meeting to discuss slowing QT, Apple to remove blood oximeter, and earnings from Goldman Sachs. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Tom and Andrew discuss the US and UK’s retaliation in response to terrorist attacks on Red Sea ships, PPI data leads to more confusion in the inflation picture, movement in the private credit market, earnings from JPM, and some speculation on the Alabama coaching vacancy. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Tom and Ben discuss the Hertz decision to reduce their EV fleet by 1/3, the CPI data that shows an inflationary uptick, and a quick plug for our February 1st macro. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Ben, Tom, and Andrew discuss the SEC’s flub surrounding Bitcoin approval, the Boeing fallout, and Howard Marks. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Ben, Tom, and Andrew discuss last night’s game, the Small business Optimism Index, HPE looking to acquire Juniper Networks, Microchip cuts guidance, NVDA & AMD announcing an AI-powered PC, and the state of retail from the ICR Conference.For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Ben, Tom, and Andrew discuss more troubles for the Boeing 737 Max, the impact that this week’s CPI report could have, earnings season picking up, and a breakdown of the big one as Ben’s beloved Washington Huskies play for a national championship. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Ben, Tom, and Andrew discuss Eli Lilly’s DTC strategy for its weight loss drug, Pepsi being accused of “price gouging”, the revenue acceleration for Costco, employment data and employment, the current value in fixed income markets, and earnings from STZ. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Andrew and Tom discuss positive ISM Manufacturing data, the mixed bag of employment data, the Fed minutes, Walgreens earnings, interest rate movement today, and how the Fed discussion of rate cuts has impacted the economy. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Ben and Tom discuss yesterday’s stock movement, rate changes, the upcoming Fed Meeting Minutes, BYD topping Tesla in Q4 deliveries, and the aftermath of the CFB playoff semi-finals. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Ben discusses red markets to start the year, Red Sea tensions ratcheting up, China front loading its 2024 oil imports, Apple's downgrade at Barclays, and a preview of the week ahead.For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Tom and Ben discuss the Apple Watch ban being overturned, Eli Lilly’s potential 2024 catalyst, a potential reversing of the Magnificent 7 run, implications of the upcoming political landscape, and the outlook for AI in the year ahead. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Andrew and Ben discuss Jim Ratcliffe purchasing a 25% stake in Manchester United, Iron prices increasing (contrary to the direction of the price of oil), US retaliatory attacks in Iraq, Operation Prosperity Guardian providing stability in the Red Sea, and Bank of Japan monetary policy discussion, and mortgage data showing few have taken on new mortgages at these higher rates.For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Tom and Ben discuss the earnings report from NKE, BMY’s acquisition of Karuna Therapeutics, Elon Musk’s comments on indexing, and PCE inflation data.For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Tom and Ben discuss the earnings report from Micron, inflation potentially making a move to the upside, the Apple Watch ban, telecom merger talks, the broadening of the market rally and why that matters, and Bird goes bust.For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Tom and Andrew discuss UK inflation data coming in lower than expected, FedEx’s underwhelming earnings report, and data showing that Tesla drivers have the highest accident rate. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Ben discusses the continued attacks on merchant vessels in the Red Sea, Operation Prosperity Guardian, the impact of the attacks on energy prices, the readthrough of the BOA Global Fund Manager Survey, Bank of Japan’s intention to raise rates, and the Apple Watch ban. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Ben and Tom discuss market movements, the impact on home sales, an acquisition in the steel industry, and the week ahead. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Andrew, Ben, and Tom sit down to discuss their 2024 outlook. Please share this episode.For any questions, please reach out to [email protected].

Ben, Andrew, and Tom discuss the earnings report from Costco, housing data out of Lennar, Citi Group’s muni bond business going away, a record day for option expiration, and other factors impacting the market over the remainder of the year. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Ben and Tom discuss yesterday’s dovish Fed meeting, the focus on PPI data by many Fed members, when the Fed will cut rates, the Bank of England’s relatively hawkish tone, retail sales data, and the state of the economy. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Ben and Tom discuss PPI data that, contrary to what we saw yesterday, shows that inflation is slowing, the global transition from fiscal candy to fiscal limits, Biden’s meeting with President Zelensky, Argentina devaluing the peso by 54%, Tesla recalling 2 million vehicles, and the state of the consumer. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Tom discusses the incoming CPI data that seems to be more “Lukewarm” than expected, yesterday’s disappointing short term bond auction, Oracle’s earnings report, and layoffs by Hasbro and EY. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Andrew and Tom discuss the strange acquisition attempt of Macy’s, Cigna’s decision to back off the Humana deal, and an extremely data-heavy week ahead which includes a Fed meeting and retail sales data.For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Ben can't fit into Lululemon clothing. Please stop buying it for him.

Apologies for the delay. John Boy (6'7") is playing for the Brooklyn Nets this week, and Producer Hicks (5'10") is uploading the call. Producer Hicks forgot about the task John Boy trusted him with. We will be better next week.

Ben, Andrew, and Tom discuss the fixed income topics at today’s conference in Charlotte, NC., the stabilization in the industrials sector, a number of earnings updates, and some economic data coming in later today. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Ben and Tom discuss ISM manufacturing data results from last Friday, the current employment situation, more merger action, bitcoin’s recent rise, an attack on a US destroyer, and things to watch this week. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Ben and Tom discuss the OPEC+ production cuts, Nick Timiraos’ article saying that the Fed is done raising rates, how the Fed should message this pivot to avoid excess exuberance, and a Friday football special. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Ben, Andrew, and Tom discuss deflationary pressures beginning to pop up, Tesla’s Cybertruck event, mergers happening in a number of industries, and earnings out of Snowflake and Salesforce. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Ben and Tom discuss Bill Ackman’s call for the Fed to cut interest rates early in 2024, bonds rallying strongly off his comments, the Fed’s need to be proactive with rate adjustments this time around, and a number of company updates. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

In a short call, Andrew and Tom discuss yesterday’s bond auction and Adobe’s Black Friday Roundup data. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Ben and Tom discuss the temporary truce in Gaza, Javier Milei’s visit to the US, the political movement we are beginning to see around the world, Amazon surpasses Fedex and UPS in package delivery this year, and what to watch in the week ahead. For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure