GOOD MORNING

Here’s everything you need to know today: There are currently 14,157 publicly traded companies in the United States and over 1000+ articles released about S&P500 companies alone every single day. Today we will be showing you the top 3 events that you need to know today:

Market Performance (1 year)

1. Dow - 13.79%

2. S&P 500 - 24.42%

3. Nasdaq - 26.70%

4. Bitcoin - 113.35%

Today (Here’s 3 things you need to know)  

1. US Consumer Confidence Drops Amid Economic Uncertainty and Tariff Worries

US consumer confidence unexpectedly declined in December, marking the first drop in three months, reflecting concerns about the economic outlook and uncertainty surrounding the Trump administration's policies.

The Conference Board's confidence gauge fell to 104.7, missing economists' expectations, with the measure of expectations hitting a five-month low. Politics and tariffs were increasingly cited as sources of concern, with 46% of respondents predicting that tariffs would raise living costs, while 21% anticipated job creation.

This trend aligns with other surveys, such as the University of Michigan poll, which indicated growing worries about future price hikes on durable goods due to tariffs.

Economists suggested the sentiment shift stemmed from discussions about spending cuts by the incoming administration, which diverged from campaign promises. The timing of the survey, concluding before the FOMC meeting and a stock market decline, indicates the erosion of confidence likely started earlier.

2. MicroStrategy’s Bitcoin Buys Slow Amid Premium Challenges and Investor Hesitation

1 Year Performance (MSTR): +478.82%

MicroStrategy continued its Bitcoin acquisition spree, purchasing $561 million worth over the past week, bringing its total holdings to 444,262 Bitcoin valued at approximately $43 billion. Despite being the largest corporate Bitcoin holder, this week's purchase marked one of the smallest in recent months, funded through equity sales under a $21 billion authorization.

The company has raised over $14 billion in stock and $3 billion in convertible debt to support its Bitcoin strategy. However, shares of MicroStrategy have dropped 5.5% recently, reflecting a waning Bitcoin premium and challenges in attracting new investors after significant equity sales.

The company reported a 47.4% Bitcoin "yield" this quarter, a metric it uses to measure shareholder value creation.

While the high yield underscores investor willingness to pay a premium for its stock relative to its Bitcoin value, concerns about sustainability are mounting.

With Bitcoin prices down 10% from recent highs and criticism from analysts, suggesting that Bitcoin enthusiasts consider exchange-traded funds over MicroStrategy stock, the company faces increasing scrutiny over its reliance on Bitcoin acquisitions as a growth strategy.

3. Nordstrom Goes Private: Family Takes the Reins in $6.25 Billion Deal

1 Year Performance (JWN): 28.67%

Century-old department store Nordstrom has agreed to be acquired and taken private by Nordstrom family members and a Mexican retail group, El Puerto de Liverpool, for $6.25 billion, the company said Monday.

Nordstrom shareholders will receive $24.25 per share in cash, representing a 42% premium on the stock's value as of March 18, when reports of the transaction emerged.

The board of directors unanimously approved the deal, which includes a special dividend of up to 25 cents per share based on cash on hand at the transaction’s close.

Following the acquisition, the Nordstrom family will hold a majority ownership stake, with Erik Nordstrom (CEO) and Pete Nordstrom (President) at the helm. Founded in 1901, Nordstrom now operates 381 stores and reported a 4.6% sales increase last quarter, with revenues reaching $3.5 billion.

Its stock has risen 34% in 2024, though it dipped 1.5% in premarket trading following the announcement.

Market Memes Of The Day

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