Happy Freakin’ Friday!! 🥳

Tale of the Tape

Good evening, folks. Happy Freakin’ Friday!! 🥳

The market continues to fly. The 4 major indices all closed at a new record high. Incredible. 

The small-caps led and gained a cool 2%.

Energy was the strongest sector. $XLE closed above last week’s high. Utilities was the only sector in the red. 

We got November’s job numbers early this morning. The US added some gigs, but growth is stalling. See more below. 

$SNOW continues to pile up. The stock is up 46% in the last two weeks. Sheesh… 🥶 🥶 🥶

Fastly ripped on rumors that Cisco could take over the company. The stock was up as much as 17% intraday, but closed +7%. 

Here are the closing prints: 

S&P 5003,699+0.88%
Russell 20001,892+2.37%
Dow Jones30,217+0.83%

Weekly Charts

Energy inched higher with the price of crude. The energy ETF XLE closed at its highest price since June 16, and in the last 4 weeks it’s up 40%. Here’s the weekly chart:

The FAANG gang rallied. The NY FAANG Index closed at an all-time weekly high. Here’s the weekly chart: 

Google was the only FAANG gang member that closed at a new all-time weekly high. Here’s its weekly chart:

Blackberry closed at its highest price since the summer of 2019. The company announced a partnership with AWS earlier this week. Check out the wild weekly chart:

Unemployment Numbers

The November jobs report was released early this morning.

The US added a paltry 245K new jobs in November vs October’s total of 610k. Unemployment fell to 6.7% as 10.7 million Americans are out of work… that number is more than 4.9 million higher than it was in February.

Here’s Crossing Wall Street with more.

$SNOW-balling Comp

$SNOW is dumping cash for its CEO.

The company reported earnings on Wednesday and the stock is up 32.5% since.

Here’s the daily chart:

That rapid rally made CEO Frank Slootman one of the highest paid executives in the US.

His main source of compensation? — options with a strike price of $8.88, vest in monthly increments worth ~$95M or ~1.1B/annually. Woah 😮

When his full package is paid out in 2023, the total will be worth over $4.5B based on today’s closing price. Snow may be cold, but that pay is red hot. 🔥

Is NYC Still The Place To Be?

For the first time since PropertyShark began tracking median sales in 2015, there was not a single NYC zip code in the top 10.

Jonathan Miller, president of real estate appraisal firm Miller Samuel, described what made this possible. He said: 

The wealth and mobility of its residents enabled outbound migration en masse. . . They have been slow to return, resulting in weaker housing prices.

Prices still aren’t cheap, though. ZIP 10007, which includes downtown Manhattan, had a 19% drop — down to a staggering median price of $3,900,000. 

Lots of bites were taken out of the Big Apple this year, but only time will tell if it’ll be ripe or rotten in 2021. 

Mulan is Free On Disney+

Need something to watch this weekend?

Mulan is now free to all Disney+ subscribers! The platform’s ‘Premier Access’ feature is no longer needed to watch Disney’s badass remake. 🙌  

Links That Don’t Suck

💡 The Reasonable Optimist

Who’s Really to Blame for the Monolith Shitshow

🤝 Something about Slack (+ Salesforce) – On my Om

💸 JPMorgan Says Card Payments Surged 15% Over Black Friday Weekend

🌚 How to Build a Home on the Moon

🚁 A History of Helicopter Emergency Medical Services

🥩 Meatpacker JBS Removed At-Risk Workers from Beef Plant Amid Covid-19 Surge