Exchange-traded funds (ETFs) investing in Bitcoin are experiencing their worst month of outflows since their launch nearly two years ago.

Investors have pulled about $3.5 billion from U.S.-listed Bitcoin ETFs in November, nearly matching the previous record outflow of $3.6 billion set in February.

BlackRock’s Bitcoin fund, IBIT, which holds around 60% of these assets, has seen $2.2 billion in redemptions this month, putting it on track for its worst month unless there is a sharp reversal.

These outflows coincide with Bitcoin itself heading for its worst monthly performance since the 2022 crypto collapse, reflecting ongoing investor caution amid market volatility and recent corporate failures in the crypto sector

Rents have recently started to fall in much of the U.S., offering some relief to renters after years of sharp increases that outpaced wage growth.

In October, median monthly rent for units with up to two bedrooms dropped 1.7% year-over-year to $1,696 and is down about 3.6% from its 2022 peak.

While this is good news for renters, it also encourages many to keep renting longer.

Meanwhile, homeownership costs remain high due to mortgage rates above 6%, near-record home prices, and additional expenses like taxes and maintenance.

These factors continue to strain affordability and slow the housing sales market, making renting a more attractive option despite falling rents

Google has signed a multi-year, multi-million dollar cloud deal with NATO’s Communication and Information Agency to support the organization’s digital modernization.

NATO will use Google Cloud to enhance its digital infrastructure, governance, and artificial intelligence capabilities.

Google Distributed Cloud (GDC) will specifically support NATO’s Joint Analysis, Training and Education Center (JATEC), handling classified workloads securely.

Tara Brady, President of Google Cloud EMEA, highlighted that the partnership will help NATO accelerate its digital transformation while maintaining high security and digital sovereignty.

Following the announcement, Alphabet shares rose 3% in premarket trading. This deal underscores Google Cloud’s commitment to providing advanced, secure cloud solutions to major international organizations.

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Good Morning, Traders! Nvidia crushed 4.2% Tuesday on bombshell report Meta negotiating multi-billion dollar deal for Google's TPU chips starting 2027.

Here are the highlights for today:

Alphabet soared 4% on the news—stock now +68% YTD, best year since 2009. Google TPUs cheaper to develop and run than Nvidia GPUs. Competitive threat escalating

The Information reports Meta discussing using Google's tensor processing units in data centers from 2027, plus potential short-term Google Cloud rentals. TPUs less flexible than Nvidia GPUs but cost advantage massive. Google targeting 10% of Nvidia's revenue with TPU business. AMD also hit, -3.9%.

Broadcom +2.5% (helps design Google TPUs, surged 11% Monday). Wall Street betting Google wins AI war via TPUs plus Gemini 3 model getting rave reviews. Salesforce CEO Benioff already publicly ditched ChatGPT for Gemini. Competitive landscape rapidly reshaping.

Alibaba ADRs +4.2% after beating Q2 earnings. CEO Eddie Wu: "We have entered investment phase to build long-term strategic value in AI technologies." Qwen chatbot relaunch driving excitement. NIO +4.2% on 87,071 Q3 deliveries (+41% YoY), narrower loss, guiding Q4 deliveries 120K-125K.

Keysight Technologies +14% crushing Q4—revenue $1.42B (+10% YoY), announced $1.5B buyback. Symbotic +13% on warehouse automation demand, free cash flow swung positive to $494M. Zoom +4% beating Q3, unveiled $1B buyback, guiding FY revenue $4.85B-$4.86B.

Bitcoin -2.4% struggling to sustain comeback after brutal selloff, now $86,861. Strategy -2.6%, Coinbase -1.7%, Robinhood -1.5% giving back Monday gains. Risk appetite fading despite Monday's tech rally. Crypto still correlated to equity risk sentiment.

SanDisk +2.4% joining S&P 500 before Nov 28 open, replacing Interpublic Group. Memory chip maker spun from Western Digital in February. Market cap near $30B—was BY FAR largest company in S&P Small Cap 600. Major index rebalancing flows incoming.

BEA will release initial Q3 GDP estimate Dec 23—nearly two months late due to shutdown. Only TWO Q3 GDP estimates will be published vs usual three. October unemployment rate and CPI can't be compiled retroactively—permanently lost. Fed flying blind on October data forever.

European markets edging higher on rate cut hopes. Fed Governor Waller signaled support for December cut citing labor market risks. Echoes Williams and Daly's dovish turn. Germany recorded ZERO growth in Q3. UK 10-year yield at 4.54%, Germany at 2.70%. Growth concerns mounting.

Google vs Nvidia battle heating up as Meta potentially shifts billions to TPUs. Competitive moat narrowing despite Nvidia's dominance. Chinese stocks rallying on AI investment themes. Fed governors turning dovish but October data void complicates December decision. Tech leadership fragile as alternatives emerge.

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Zscaler (ZS) is a high-beta cybersecurity stock showing resilience amid recent market weakness.

It reported solid 21% year-over-year revenue growth with stable EBITDA and cash flow margins of 24% and 16%, respectively.

The company holds nearly $2 billion in net cash, providing financial strength. Its order backlog is growing faster than recognized revenue, indicating potential acceleration ahead.

However, Zscaler trades at a very high valuation—over 100x trailing free cash flow—reflecting premium expectations.

Technical analysis suggests a potential short-term bottom near $260, with upside targets between $368 and $415 if support holds.

A stop-loss near $258 is advised to limit downside risk. Overall, Zscaler is rated a “Buy” for investors willing to accept volatility, offering a favorable risk/reward ratio of about 2:1 to 3.3:1 based on current price levels.

Best Buy beat Q3 expectations with non-GAAP EPS of $1.40, $0.09 above estimates, and revenue of $9.67 billion, up 2.3% year-over-year and $80 million above forecasts.

The company raised its full-year 2026 guidance, now expecting revenue between $41.65 billion and $41.95 billion, up from prior estimates.

Comparable sales are projected to grow 0.5% to 1.2%, improving from a previous range of -1.0% to 1.0%. Adjusted diluted EPS guidance was raised to $6.25–$6.35, slightly above consensus.

Adjusted operating income rate and capital expenditures remain steady at about 4.2% and $700 million, respectively.

CFO Matt Bilunas highlighted confidence in Best Buy’s long-term strategy following strong quarterly results and an improved outlook.

Barnwell Industries (BRN) is raising about $2.4 million through a private placement of 2.2 million shares at $1.10 each.

The financing is led by Bradley Radoff and includes other accredited investors, some of whom are board members.

Most purchasers, excluding board members, management, and one other, will receive warrants to buy one share for every two shares purchased, with an exercise price of $1.65.

The transaction is expected to close around November 28, 2025. Following the announcement, BRN stock rose about 2.7% in pre-market trading.

This private placement supports Barnwell’s ongoing transformation and strategic growth plans.

Clearfield (CLFD) has increased its common stock share repurchase program from $65 million to $85 million.

The board added $20 million to the remaining $8.4 million available, bringing total funds under the program to $28.4 million.

This decision reflects the board’s view that the current share price undervalues the company’s long-term growth potential.

The move signals confidence in Clearfield’s strategic positioning and outlook amid ongoing market opportunities in fiber connectivity.

Veralto (VLTO) is acquiring In-Situ, a water analytics firm, for $435 million. In-Situ’s products, including water quality sondes and sensors, complement Veralto’s OTT HydroMet business within its Water Quality segment.

In-Situ is expected to generate about $80 million in sales in 2025, with a gross margin near 50% and mid-teens EBITDA margin.

Veralto anticipates $11 million in pre-tax run-rate cost synergies by the end of year three post-acquisition.

CEO Jennifer Honeycutt said the deal expands Veralto’s presence in fast-growing water ecosystem applications critical for public health and economic security.

This acquisition strengthens Veralto’s water monitoring solutions and supports its growth strategy.

Compass Group reported fiscal year GAAP EPS of $1.319 and revenue of $46.1 billion, up 9.5% year-over-year.

Organic revenue grew 9.1% in North America and 7.7% internationally. Net new business increased 4.5%, with strong gains in North America, while client retention remained above 96%.

The company secured $3.8 billion in new business, an 11% rise year-over-year.

For 2026, Compass expects underlying operating profit growth around 10%, driven by about 7% organic revenue growth, 2% profit growth from M&A including Vermaat, and continued margin improvement.

The company remains confident in sustaining mid-to-high single-digit organic revenue growth and profit growth exceeding revenue growth over the longer term.

Analog Devices (ADI) shares rose about 4% premarket after beating Q4 fiscal 2025 estimates.

Revenue surged 26% year-over-year to $3.08 billion, and adjusted EPS rose 35% to $2.26, both surpassing expectations.

CFO Richard Puccio noted strong bookings in Industrial and Communications markets. ADI returned 96% of free cash flow to shareholders in fiscal 2025, including $2.2 billion in share repurchases and $1.9 billion in dividends.

The board declared a quarterly dividend of $0.99 per share, payable December 22. For Q1 fiscal 2026, ADI expects revenue of $3.1 billion (±$100 million) and adjusted EPS of $2.29 (±$0.10), above consensus.

The company anticipates a reported operating margin near 31% and adjusted operating margin around 43.5%.

Puccio expressed confidence in capitalizing on cyclical recovery and growth opportunities despite macro uncertainty

Kohl’s (KSS) shares jumped 24% premarket after beating Q3 expectations and raising its full-year outlook.

Revenue fell 2.8% to $3.4 billion but beat estimates by $40 million. Comparable sales declined 1.7%, outperforming the expected 3.9% drop.

Gross margin improved 51 basis points to 39.6%. Operating income was $73 million, with EPS at $0.10 versus a -$0.17 consensus.

Kohl’s now expects full-year comparable sales to decline 2.5% to 3%, better than the prior forecast of -5% to -6%, and above the consensus of -4.2%.

The company raised full-year operating margin guidance to 3.1%-3.2%, above the 2.7% consensus.

CEO Michael Bender credited progress on Kohl’s 2025 initiatives for the strong results.

With short interest over 26%, the stock’s volatility may continue as investors react to the upbeat report.

Hey folks,

The slide in AMD and NVDA today came right after the stories about Google shifting more of its AI buildout toward its own TPUs.

Any time a big player hints at leaning further into in-house chips, traders get jumpy. Money rushed out fast and both stocks took the hit.

But here is the part everyone always misses on days like this. Google has been pushing its TPU story for years.

This headline was nothing new. It just landed on a quiet tape and sparked a quick wave of reaction selling.

 The AI race is still wide open and every major cloud name buys huge volumes of third-party chips because the demand is bigger than anything they can cover internally.

The long term demand for NVDA and AMD does not shift from one article.

Both stocks pulled right into levels where buyers have shown up before. The kind of zones where sharp drops often start to stall.

That is exactly when Slingshot lit up. 

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Good Morning Traders! Rate cut odds surging Wednesday after weak retail sales cement December Fed move.

Futures climbing—Nasdaq +0.5%, S&P +0.4%. Retail sales missed expectations, PPI in line. Deutsche Bank: "Latest batch of US data kept path open to December rate cut." Markets now pricing 76% probability

Here are the highlights for today:

(Weak Data = Fed Pivot)
September retail sales weaker than expected, core PPI rose less than forecast. Consumer confidence unexpectedly fell, ADP private payrolls still contractionary. Tuesday's Dow surged 660+ points as dovish narrative solidified. Weekly jobless claims and durable goods data dropping 8:30am—could seal the deal.

(Dell AI Server Boom)
Dell +3% after crushing Q3 and RAISING full-year revenue to $111.2B-$112.2B (from $105B-$109B range). AI server demand exploding—now expecting $25B AI server revenue vs $20B prior. Q4 revenue guidance $31B-$32B destroying $27.64B consensus. Enterprise AI spending accelerating hard.

(Autodesk Soars)
Autodesk +6% on strong Q3—revenue +18% driven by 19% design segment growth. Q4 revenue guidance $1.907B-$1.917B vs $1.87B consensus. Full-year revenue $7.15B-$7.165B vs $7.1B expected. Double-digit growth across all regions. Design software benefiting from AI-enhanced workflows.

(Cloud Software Carnage)
Nutanix -16% despite strong underlying demand—lowered full-year revenue to $2.82B-$2.86B, Q2 below estimates. Zscaler -8% despite beating Q1 and raising guidance—operating loss of $36.4M spooked investors. Workday -6% DESPITE beating and raising guidance. Market brutally unforgiving on cloud stocks.

(HP Restructuring Pain)
HP -5% after weak FY2026 outlook: EPS $2.90-$3.20 vs $3.34 consensus. Announcing restructuring cutting 4,000-6,000 employees with $650M in costs. Q1 EPS midpoint below estimates. PC and printer headwinds intensifying despite recent optimism about refresh cycles.

(Alphabet vs Nvidia Continues)
Alphabet +1.5% premarket extending rally on Meta TPU deal momentum, hitting new highs. Nvidia -1.4% giving back more ground. Google TPU threat proving persistent as competitive narrative shifts. Stock battle reflecting real infrastructure spending reallocation.

(Trump Policy Moves)
Trump admin negotiated 71% Ozempic/Wegovy discount for Medicare—$274 vs $959 for 30-day supply, takes effect 2027. Expected $12B taxpayer savings. Also negotiating Taiwan trade deal: TSMC and others would invest/train US workers in exchange for tariff relief from current 20%.

(BOJ Hawkish Turn)
Bank of Japan prepping markets for possible December rate hike after weak yen concerns return. Political pressure for low rates fading after PM Takaichi-Governor Ueda meeting. Messaging pivoted back to inflation risks. Dollar near one-week low at 99.757 but edging up.

(Market Assessment)
Fed December cut now 76% probability after weak data validates dovish pivot. Dell's AI server guidance ($25B) proves enterprise spending real despite Nvidia competitive threats.

Cloud software punished mercilessly regardless of beats. Shortened Thanksgiving week could be volatile with thin liquidity—data dependency at peak levels.

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Lyft (LYFT) is a strong beneficiary of the autonomous vehicle (AV) revolution, leveraging partnerships with Baidu, May Mobility, and Waymo to expand its AV presence.

Its acquisition of FREENOW doubles its total addressable market to over 300 billion potential trips annually, boosting European reach.

Lyft’s Flexdrive fleet management supports Waymo’s AV operations in Nashville, enhancing vehicle availability and operational efficiency.

Financially, Lyft reported 10.7% revenue growth to $1.7 billion in Q3 2025, with adjusted EBITDA up nearly 30% year-over-year and free cash flow exceeding $1 billion trailing twelve months.

Management projects 17%-20% gross bookings growth in Q4. A discounted cash flow model values Lyft at $31.60 per share, implying nearly 60% upside from current prices.

With improving profitability, strategic AV positioning, and expanding market share, Lyft is rated a STRONG BUY for investors seeking exposure to the evolving mobility sector.

Cathie Wood’s Ark Invest significantly increased its stake in Alphabet (GOOG) by purchasing 174,293 shares, worth about $56.4 million at the closing price of $323.64.

Most of the shares were bought through the flagship ARK Innovation ETF (ARKK), which acquired 113,276 shares.

Other ARK ETFs involved include ARK Autonomous Technology & Robotics ETF (ARKQ), ARK Next Generation Internet ETF (ARKW), and ARK Space & Defense Innovation ETF (ARKX).

This move comes as Alphabet’s valuation approaches $4 trillion, driven by optimism around its Gemini AI model and reports that Meta may adopt Google’s AI chips.

Wood’s purchase reflects her continued confidence in Alphabet’s growth potential amid the expanding AI landscape.

New York City Comptroller Brad Lander is urging pension fund officials to rebid $42.3 billion managed by BlackRock due to climate concerns.

This marks a significant Democratic pushback against fossil-fuel industry support from Republican allies.

Lander’s term ends December 31, but his recommendation, expected Wednesday, will challenge Mayor-elect Zohran Mamdani, whose upcoming appointees will influence pension boards managing retirement funds for about 800,000 city employees.

The move tests Mamdani’s stance on climate and financial management as he assumes office in five weeks.

Adecco’s CEO Denis Machuel said their joint venture with Salesforce, called r.Potential, aims to reduce the risk of an AI bubble by encouraging companies to adopt more practical, concrete uses of AI technology.

The platform is designed to help business leaders integrate AI effectively into the workplace.

Adecco has already engaged with 300 large clients interested in r.Potential, which supports strategic planning and management of combined human and AI workforces.

This approach helps organizations balance digital and human labor, fostering sustainable AI adoption rather than speculative hype

Onton, an AI-powered furniture shopping platform, raised $7.5 million to expand beyond furniture into broader product categories.

The startup, formerly known as Deft, has grown its user base from 50,000 to over 2 million monthly active users, generating millions of searches and image creations.

Major tech firms like OpenAI, Google, and Amazon are also advancing AI shopping assistants that help customers research and select products.

Alongside startups such as Perplexity, Daydream, and Cherry, Onton is part of a growing trend using AI to enhance product discovery and shopping experiences. This funding will support Onton’s expansion and innovation in AI-driven e-commerce.

Deere & Co. lowered its fiscal year net income outlook to $4 billion–$4.75 billion, missing the $5.31 billion consensus amid ongoing uncertainty in the U.S. farm economy.

Shares dropped over 6% premarket. The outlook reflects challenges from low crop prices and trade tensions, including President Trump’s tariffs.

Despite a recent U.S.-China trade deal to boost crop exports, a larger-than-expected corn harvest and weak soybean demand have delayed the expected rebound in farm machinery sales.

Deere’s leadership highlighted unprecedented uncertainty in the North American agricultural market, resulting in a wide range of possible outcomes for the year ahead.

This has pushed back the anticipated recovery in the farm sector, impacting grower spending and Deere’s earnings forecast