The Morning Tea: 5 Quick Things to Know As Markets Open Today (12/16/22)
Overall Macro News
Futures signal more pain: Dow futures decline 358 points (1.07%); S&P 500 futures decline 1.01%; Nasdaq futures fall 0.56%.
Earnings News
Goldman Sachs contemplating cutting another 4,000 workers.
Quantitative hedge funds such as AQR, Systematica, and Aspect had a great year in the backdrop of a painful year for Wall Street and Main Street.
International News
As the year comes to an end, Turkey braces for a new, pivotal election on President Erdogan’s policies next year.
Real Estate News:
Home flipping slump: home flipping profit declines in Q3 2022, down 18.4% from the Q2 (11.4% less y/o/y).
Other News:
Loan forgiveness is headed to the Supreme Court. Another case was filed, this time procedural, arguing that Americans were not given a comment period prior to President Biden’s decision to forgive $10,000 in student debt ($20,000 if a Pell grant recipient)