TLDR

MARKET RECAP → Stock futures dipped Tuesday night as investors offloaded Microsoft (MSFT) shares and prepared for the Federal Reserve's upcoming monetary policy decision on Wednesday afternoon.

META'S $1.4 BILLION TEXAS SETTLEMENT →💰 Meta (META) settled for $1.4 billion with Texas over biometric data misuse, marking the largest state settlement ever, and plans to deepen its investments in the state.

CROWDSTRIKE SHARES DIVE ON DELTA FALLOUT → 📉 CrowdStrike's (CRWD) stock plummeted 11% after Delta hinted at seeking damages over a software glitch that caused a global IT meltdown, showcasing the perils of tech reliance.

Was this email forwarded to you? Sign up for free here.

MARKETS

Today’s S&P 500 Heatmap

Notable Earnings This Week

TODAY’S TOP NEWS

Meta's $1.4 Billion Texas Settlement

💰 Biggest Payout Ever: Meta agreed to a $1.4 billion settlement with Texas over allegations of illegally using facial recognition to collect biometric data from millions of Texans. This marked the largest settlement by any single state in history.

📸 Biometric Blunder: The lawsuit accused Meta of capturing biometric data "billions of times" from photos and videos via the now-discontinued "Tag Suggestions" feature. Each violation could have cost Meta up to $25,000 under Texas' biometric privacy law.

🌐 Future Plans: Despite the hefty payout, Meta expressed its eagerness to invest further in Texas, including potential development of data centers. The settlement highlighted Texas' commitment to holding tech giants accountable for privacy violations.

TODAY’S TOP NEWS

CrowdStrike Shares Dive on Delta Fallout

📉 Stock Shock: CrowdStrike's shares took an 11% nosedive following a report that Delta Air Lines might seek damages from the cybersecurity firm. This was due to a major IT outage linked to a faulty software update from CrowdStrike, causing disruptions globally.

🛫 Delta's Dilemma: Delta, among many businesses affected, faced significant operational disruptions. The airline's potential legal action added to investor concerns, exacerbating the stock's decline as the market reacted to the extensive fallout and possible financial liabilities​.

🛠️ Recovery in Progress: Despite the initial chaos, CrowdStrike managed to resolve 97% of the affected systems. However, the incident highlighted the risks of over-reliance on tech giants for critical operations, raising questions about future safeguards and response strategies.

BULL VS. BEAR

NOTABLE POSTS

KEEP READING

Microsoft set to report earnings after the bell (CNBC)

At the year’s biggest air show, Boeing and Airbus orders were muted. Supply chain worries were not (CNBC)

Procter & Gamble earnings beat estimates, but quarterly sales disappoint as China demand slides (CNBC)

Perplexity AI will share revenue with publishers after plagiarism accusations (CNBC)

Court blocks US rule requiring airlines to disclose all fees up front (CNN)

We’ve been wrong about a key contributor to human happiness (CNN)

The number of available jobs in the US is shrinking (CNN)

WHAT WE’RE WATCHING

OUR FAVORITE TOOLS & RESOURCES

• Quiver Quantitative — Quiver allows retail investors to tap into the power of big data with insights into things like congressional trades as they are disclosed

• Perplexity — Perplexity AI is an AI-chatbot-powered research and conversational search engine

• The Market Ear — Live news, analysis and commentary on what moves markets and trading

• Coinmarketcap.com — Crypto market data

• Finviz — Financial visualizations

• Trading Economics — Economic calendar

• CME FedWatch Tool — Market-implied probabilities of future levels of interest rates 

• Dataroma — Track stock picks and portfolios of legendary value investors such as Warren Buffett

• ChatGPT — Large language model-based chatbot powered by generative AI

• Notion AI — Notion AI is a writing assistant that can help you write, brainstorm, edit, summarize, and more

• Vimcal — Lightning-fast calendar and AI scheduling assistant

^{_{The Bull vs. Bear Merchandise Promotion is a limited time campaign that begins on December 1, 2023 at 12:00 AM ET and ends on the date that there are no more Rewards. This Promotion is available to any registered MoneyLion user who is a legal resident of the 50 United States or the District of Columbia and who has reached the age of majority in their state as of the beginning of the Promotional Period. See terms and conditions here.}}

<sup><sub>This advertising email was sent to you because you have a MoneyLion account. If you would like to unsubscribe, please do so using this link. We respect your right to privacy. Please do not reply to this email with sensitive information, such as an account number, Social Security number, date of birth, bank account information, PIN, password, or Online ID. The security and confidentiality of your personal information is important to us. If you have any questions or want to read more, please visit our Help Center.

MoneyLion and Pathward do not provide, nor do they guarantee, any third-party product, service, information, or recommendation. The third parties providing these products or services are solely responsible for them, as well as all other content on their websites. MoneyLion is not liable for any third party’s failure with regard to those advertised products, services, and benefits. These advertised products and services may not be FDIC insured or bank-guaranteed, and may be subject to a different privacy policy than MoneyLion’s. You should check individual offers, products, and services to become familiar with any applicable restrictions or conditions that may apply. MoneyLion may receive compensation from third parties for referring you to the third party, their products or to their website.

The influencer, creator and other content provided in the MoneyLion App (“Content”) is for informational and entertainment purposes only and should not be construed as legal, tax, investment, financial, or other advice. All Content is intended to be of a general nature, does not address the circumstances of any particular individual or entity, and may not constitute a comprehensive or complete statement of the matters discussed. MoneyLion is not a fiduciary by virtue of any person’s use of or reliance on the Content. You should consult an appropriate professional if you require any legal, tax, investment, financial or other advice. Terms and Conditions for our subscriber referral can be found here.</sub></sup>