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Good evening everyone and happy Thanksgiving eve! 🦃

Three out of four major indexes registered gains before the market closes for turkey day. 💚 The Nasdaq increased 0.44% as the leading index, sitting just 1.33% away from all-time highs. The S&P 500 sprang back 0.23% and the Russell 2K rallied 0.15%.

Pure Storage surged 13.45% to all-time highs after beating earnings and sales projections while raising guidance. Here’s the daily chart, up 36.9% YTD:

Real estate ETF $XLRE rocked 1.34% to all-time highs, and now it’s up 37% YTD. Energy tacked on a percent gain for its third consecutive green day. 

Metaverse cryptos are movin’ – the Sandbox soared 38.9% to record-high prices and Decentraland ascended 28% to all-time highs. 🚀 🚀

Longeveron shares leaped 154.64% today to new highs. $LGVN is now up 321.7% this week following its rare pediatric disease designation by the FDA for its heart medication. ❤️

$TRT ripped 10.75%, $MTTR marched 9.8%, and $CRV.X climbed 13%.

Here are the closing prices: 

S&P 500 4,701 +0.23%
Nasdaq 15,845 +0.44%
Russell 2000 2,331 +0.15%
Dow Jones 35,804 -0.03%

Earnings

John Deere Nails Earnings and Ends Labor Strike 💪

John Deere Nails Earnings and Ends Labor Strike 💪 Featured Image

John Deere reported earnings today and nailed it. 🔨 The farm and construction supply company posted record revenue and even came to an agreement with its labor union to raise wages, ending a five-week labor strike

John Deere posted net income of $1.283 billion ($4.12/share). The company’s worldwide net sales and revenues soared +16% YoY to $11.327 billion. John Deere CEO John C. May commented:

Deere’s strong fourth-quarter and full-year performance was delivered by our dedicated employees, dealers, and suppliers throughout the world, who have helped safely maintain our operations and serve customers.”

Regarding John Deere’s negotiations with the United Auto Workers Union, 61% of UAW members voted in favor of John Deere’s offer to end the ongoing labor strike and raise workers’ wages. May shared:

Last week’s ratification of a 6-year agreement with the UAW brings our highly skilled employees back to work building the finest products in our industries. The agreement shows our ongoing commitment to delivering best-in-class wages and benefits.”

John Deere is enthusiastic about the state of business to come as the company noted its favorable outlook on crop prices, equipment demand, and increased infrastructure investment. Solid financials and happy workers?? That’s a win-win if we’ve ever seen one. 🎉



Data

Weekly Jobless Claims Hit Record Low

Weekly Jobless Claims Hit Record Low Featured Image

Amidst high inflation, supply chain woes, and clogged ports, jobless numbers were… actually pretty good!! 🍻 🥳

The U.S. Labor Department reported initial jobless claims of 199,000 last week — that’s the lowest number of reported claims since November, 1969. 🏆 The news crushed Dow Jones estimates, which anticipated about 260,000 claims. Two weeks ago, claims totaled 270,000.

Is the job market on the come-up?? Continuing jobless claims (totaling 2.05 million) fell by 60,000 to set another pandemic all-time low. In other good news, U.S. GDP also got a 2.1% boost in Q2.

Wages/salaries increased, rising to a whopping $301.1 billion (+50% above original estimates 👏). Even government bond yields got a boost on the news.

Only time will tell, but hopefully that post-pandemic recovery we’ve all been waiting for is on the horizon… 🤞 ☀️


ETFs

Ark’s New ETF on Steroids

Ark’s New ETF on Steroids Featured Image

Cathie Wood of ARK Invest said today that her firm is exploring a short portfolio, which she called “ARK on steroids.” 💪 💪

According to Wood, the portfolio shorts shares in major benchmarks with a focus on value names. Employees are currently assessing the experimental fund internally.

Cathie commented “We think the benchmarks are where the big risks are long term, because they are filling up with value traps — those companies that have done very well historically but are going to be disintermediated and disrupted by the massive amount of innovation that’s taking place.”

ARK Invest’s Innovation ETF $ARKK is trading down 13.5% YTD… is becoming more aggressive really in ARK’s best interest?? 🤔 Place your bets. Here’s the daily chart: