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Coffee With Greta: Year End


DJIA Futures: -6 (-0.02%)

SPX Futures: -2 (-0.1%)

NASDAQ Futures: -7 (-0.04%)

Good morning friends!

Futures are flat ahead of the final trading day of 2023.

Let’s get right to it!

Final Day of 2023

The S&P 500 enters today’s trading session less than 0.5% away from a new record high. 

The index is up 24.6% so far in 2023, with the Dow up 13.8%, and the Nasdaq up 44.2%. 

The tech-heavy Nasdaq is on track for its largest annual gain since 2003. 

All three major indexes are also on track for their ninth straight weekly gains, the longest streak for the S&P 500 since 2004.

The gains have extended to small caps this month as the Fed signaled plans for three rate cuts in 2024.

The Russell 2000 is up nearly 14% in December, on track for its best month since November 2020. 

Nvidia Announces Slower Gaming Chips For China

Nvidia (NVDA) shares are up 0.3% ahead of the open after announcing it will launch an adjusted version of its gaming processor with slower performance in China. 

A spokesperson told Reuters, the new Nvidia RTX 4090D will be launched in January and has been “designed to fully comply with U.S. government export controls.”

The GPU has 11% fewer Compute Unified Device Architecture or “CUDA” cores than versions of the chip sold outside of China. 

The spokesperson said Nvidia “extensively engaged with the U.S. government” while developing the new chip.

Fisker Rallies

Fisker (FSR) shares are rallying 9.3% in premarket trade after announcing strong growth in deliveries between the third and fourth quarters. 

The electric vehicle maker said it grew deliveries by over 300%, driven by strong demand for its Ocean SUV. 

Deliveries for all of 2023 totaled 4,700 vehicles as Fisker produced 10,142 EVs. 

The majority of those deliveries were the Fisker Ocean One which is priced at $68,999. 

The company said it will announce a plan in January to accelerate its sales and deliveries further in 2024.

In Case You Missed It

  • Pending home sales were flat in November even as mortgage rates declined. The National Association of Realtors pending home sales index was unchanged at 71.6 last month vs expectations for a 1% increase. Year over year, pending sales declines 5.2%. 

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