Live footage of Larry Ellison after opening Bloomberg and realizing (for once) he’s in the news for something not depressing:
If I had to put real money on Kalshi over what song Larry Ellison is blasting on his yacht with the volume cranked to “call the coast guard” levels, I’m hammering $1,000 on “Bounce Back” by Big Sean. Because the last couple weeks have been an absolute ass-kicking for the Ellison brand.
Because after watching his nepobaby son David let Warner Bros leave bar with Netflix… and then Oracle getting “damped” after a report surfaced that Blue Owl pulled a Mark Cuban level “I’m out” on financing one of Oracle’s $10B data centers (in Saline Township, Michigan of all places)...
Larry needed a win. Like, spiritually.
And boy did he get one today. Oracle ended the day up 7% after TikTok agreed to sell its U.S. operations into a new joint venture with Oracle and private equity firm Silver Lake.
Translation: the company Wall Street was just grilling over debt and AI spending is now the trusted adult regulators are comfortable handing the keys to America’s favorite attention-span assassin.
Oracle went from liability to gatekeeper in one headline.
And while Oracle was driving the AI plane today… Nvidia rode shotgun, popping 3%. Why you ask? The Trumpster is reportedly reviewing proposals that would allow Nvidia to sell advanced AI chips to China… following earlier comments that H200 chips could ship to “approved customers.” Translation: Jensen Huang may get to keep printing money… as long as he keeps sending Donnie a check.
Meanwhile, despite FinTwit screaming that a bear market is hiding behind the couch sharpening its claws, stocks kept going up.
The S&P 500 climbed 0.9%, the Nasdaq added 1.2%, and the Dow rose 0.6%. That said, it’s not all candy canes and rally caps. The Santa Claus rally is getting… how do you say… grinched. Both the S&P 500 and Nasdaq are lower for the month, which is unusual for December… historically one of the market’s stronger months, averaging gains north of 1%, per the Stock Trader’s Almanac.
Zooming out, the S&P 500 is flirting with snapping a seven-month rally, and it’s struggling to hold above its 50-day moving average, a level technicians tend to watch like hawks. So yeah, not great Bob…
Lastly, in the “you can now bet on reality” news…
DraftKings decided sports gambling wasn’t unhinged enough and rolled out prediction markets on Friday, officially entering the “bet on real-world outcomes” arms race alongside Kalshi, Coinbase, Robinhood, and (insert the name of every other company looking to cash in on your stupidity).
According to its very serious press release, DraftKings Predictions will let users wager on sports and financial events across 38 states, building on last year’s acquisition of prediction-market platform Railbird.
The stock was mostly flat… which feels appropriate for a business model powered by internet arguments with money attached.
If you read all of this, congrats for having a 10 second attention span (better than me). As always, here’s our heatmap for today.
Market Gossip
>Trump’s ‘Gold Card’ relies on legal loophole to help wealthy foreigners get U.S. visa (CNBC): Essentially immigration policy, but run like a nightclub where the bouncer only checks your net worth.
>Fatburger owner faces allegations it masked liquidity crunch (Yahoo Finance): “It’s not debt if you don’t think about it.” Fatburger’s CFO, probably…
>BioMarin to acquire Amicus Therapeutics for $4.8 billion in rare disease bet (CNBC): BioMarin bagholders shareholders like: “so you’re telling me there’s a chance?”
>Tesla’s patent applications show slower innovation and shift to AI/autonomous driving (Electrek): Elon’s never beating those “boy that cried wolf” allegations…
At the time of publishing this article, Stocks.News holds positions in Netflix, Tesla, and Robinhood as mentioned in the article.
Did you find this insightful?
Bad
Just Okay
Amazing
Disclaimer: Information provided is for informational purposes only, not investment advice. We do not recommend buying or selling stocks. Stock price discussions are based on publicly available data. Readers should conduct their own research or consult a financial advisor before investing. Owners of this site have current positions in stocks mentioned throughout the site, Please Read Full Disclaimer for details Here https://app.stocks.news/page/disclaimer