Hey there weekday warriors,

J-Poww came out swinging during his FOMC press conference.

Enjoy the next 4 minutes and 19 seconds of blue-chip news and commentary.

Keep on snapping necks and cashing checks,

– tyler

+ “The S&P 500 and Nasdaq rose Thursday, extending Wall Street’s rally in the wake of President-elect Donald Trump’s victory, as traders weighed the latest rate cut from the Federal Reserve.” (CNBC)

+ The 10-year Treasury yield “fell on Thursday as the Federal Reserve cut interest rates by a quarter point as expected.” (CNBC)

+ Oil “rose more than 1% on Thursday as the market weighed how President-elect Donald Trump's policies would affect oil supplies and as drillers cut output while bracing for Hurricane Rafael.” (Reuters)

+ Bitcoin “steadied near recent peaks on Thursday, as Donald Trump’s victory in the 2024 presidential election sparked sharp gains in cryptocurrencies on the prospect of friendlier crypto regulations.” (Investing)

+ The three most talked about stocks on WallStreetBets in the past 24 hours were: 1) Trump Media -22.9% 2) AST SpaceMobile -4.7% 3) Tesla +2.9%

The market moves you need to know about…

– Life comes at you fast. Shares of Trump Media plummeted 22.9% yesterday, just a day after mooning on news of Trump’s victory. The problem? Much of the upward momentum was tied to Donald’s chances of winning The White House. It appears investors are starting to ask, “what now?”

+ Lyft just posted an impressive quarter. And get this, it didn’t even need to add an extra zero to its margin expansion expectations. Shares mooned 22.8% after the company reported a huge beat in the extended session on Wednesday. Record rides and excitement around new products (like its “Price Lock” subscription) had investors more horned up than a dude in the back of a Lyft at 2 AM who just got an answer to “u up?” text.

Shots fired

“I’m not f*ckin’ leaving. The show goes on! This is my home. They're gonna need a f*ckin' wreckin' ball to take me out of here.” - Jerome Powell

Donny Politics vs. Jerry Interest Rates is already giving MTV Celebrity Deathmatch vibes.

During his post-FOMC meeting presser, Jerome Powell addressed the (GOP) elephant in the room.

He had a simple response when asked if he’d resign should President Trump ask him to: “F*ck yo couch” “No”

Jay later added that a President firing a Fed Chair is “Not permitted under the law.” He’s right… I think…

You see, under Section 10 of the Federal Reserve Act each board member holds their job for 14 years "unless sooner removed for cause by the President." Unfortunately for J-Poww, it doesn’t define “cause.” Oh, and there are no specifics about removal from the Chair role.

Of course, no President has actually gone all “you’re fired” to a Fed Chair. So all hell would likely break loose if Donald tried. Friendly reminder: he got pretty close to testing the waters back in 2020 when he thought the Fed wasn’t hiking rates quickly enough (to be fair, he had a point…)

Personnel decisions aren’t the only Fed matters the President could meddle in. Last month, Trump said, “I don’t think I should be allowed to order it, but I think I have the right to put in comments as to whether the interest rates should go up or down.”

Standard operating procedure has been to let the Fed run independently

Speaking of the federal funds rate…

Prior to J-Poww’s comments, the Fed released its policy statement, which outlined another 25 basis point rate cut (as expected).

The Central Bank Chair struck a pretty positive tone for a dude who’s about to lose his job: “Overall, [we’re] feeling good about economic activity.”

+ Listen, Pinterest management would never blame someone else for their disappointing guidance. But if it was forced to point figures, it would definitely be food and beverage advertiser’s fault…

Pinterest reported a big Q3 yesterday. It beat easily on the top and bottom lines. And smashed global monthly active user estimates. For f*ck’s sake, the social media company grew net income by 350%.

Still, shares fell 12.5% after hours. Investors were realllllly hoping past performance would guarantee future results. PINS guidance wasn’t enough to feed the Street’s insatiable appetite for growth.

+ Imagine sleeping in a stranger’s bed (while they watch you on CCTV from the next room over) when hotels exist…

Airbnb (+4.5% // -4.5% after hours) shares fell after the company reported that it beat revenue expectations but missed on the bottom line. Guidance came in roughly in line with analysts’ best guesses.

During the earnings call, ABNB said it’s making a push into under-penetrated markets around the globe… which one can assume is Brian Chesky’s nice way of saying “the kinda neighborhoods that don’t have a Whole Foods yet.”

+ DJ D-Sol handing out partnerships like it’s the President’s Club at a mortgage originator.

Goldman (-2.3%) just announced the biggest partner class since 2010… which, honestly, isn’t a terrible strategy for a CEO who’s fighting for his professional life. Goldman named 95 new partners, who will no longer have a problem getting an 8:30 at Dorsia.

In addition to a base salary that tops $1M in most cases, members of the most exclusive club on Wall Street get access to a partners-only bonus pool and a cut of profits from the company’s investment funds.

+ 8 U.S. cities where people are moving to live cheaply: They’d ‘rather pack their bags than pay a higher rent,’ expert says. Why rent when you can buy in Detroit for $3.3k?

+ 52-year-old CEO: As I became a billionaire, my wife brought our kids to my office for playtime—then I went back to work. If your kids don’t forgive you for missing a few baseball games so you could be a billionaire, they should be put up for adoption.

🔥 Here’s what President-elect Trump’s tariff plan may mean for your wallet.

🔥 I bought 2 abandoned homes in Detroit for $3,300 and spent over $100,000 renovating them—take a look inside. By the looks of it, they might have overpaid…

FYI, TWC might be compensated if you click on the links above. So, what are you waiting for? Start clicking.

⏪ Yesterday, Datadog, Moderna, Under Armour, Hershey, Barrick Gold, Warner Bros. Discovery, Yeti, Papa John's, Geo Group, and Molson Coors reported before the bell. And Airbnb, Rivian, Block, The Trade Desk, DraftKings, Cloudflare, Lucid, Pinterest, Monster Beverage, Toast, Redfin, Bill.com, Sweetgreen, Archer, and Capri Holdings dropped earnings yesterday after the close.

Oh, and we got a rate cut and heard from J-Poww.

⏩ Today we’re keeping an eye on…

+ Sony, Paramount, and Canopy Growth report this morning

Yesterday, I asked, “How many domains do you own?”

70.0% of you don't own any. How are you going to secure that internet money, guys?

Here’s what some of you had to say (and my thoughts in italics)…

• 11-20: “Business ideas I'll never get to but want to hold just in case. I don't even know why I do this.”

• 0: "Own a domain? I'm still borrowing my mom's cable password so I can watch ESPN on my Roku box.”

• 1: "Not so sure Harris2028.com is going to pay off though” Too soon?

• 5: “I'd share the names, but then someone might take the ideas — which are great but have been on the back burner for 5+ years and will probably never be brought to fruition because ... kids and stuff.”

And here’s today’s question…

Some ground rules:

• Uber/Lyft are NOT public transportation

• You can fly, but it has to be Spirit

• If there is bad public transportation where you live, I hope you enjoy walking

• Your immediate family can help you move, but NO movers/outside help

+ Not everything needs the Manningcast treatment, you guys…

🔥 This guy walked so the dude who sold chat.com to Sam Altman could run

Oh, and one more thing…

Does this look like the face of a guy you should take financial advice from?

No, it’s the face of an individual who is financially irresponsible/dumb enough to be talked into spending money on a family photo shoot that he could have just done with his iPhone. So, act accordingly...

This is not financial advice. Nothing in this newsletter is an investment recommendation. All content is created for entertainment, educational, or informational purposes only. Do your own research, or do yourself a favor and hire a professional.