Market Overview & Investment Thesis - Fintech sector exhibits a dichotomy: strong fundamentals ($2 trillion+ market cap, solid financials, secular tailwinds) versus negative investor sentiment (competition, disruption worries) [3][4] - Wells Fargo believes investor sentiment is overly negative, presenting numerous opportunities in the fintech space [4] "Fab Five" Fintech Companies - **Auden:** Possesses best-in-class back-end tech stack, expanding into new markets, expected to maintain 20%+ topline growth for several years [6] - **Affirm:** Buy now pay later (BNPL) has robust secular opportunity, currently representing only 8% of US e-commerce; management team and execution are impressive [7] - **Mastercard:** Maintains a tremendous competitive moat, adapting to new payment technologies, and generating a terrific cash flow profile [8] - **Visa:** Similar thesis to Mastercard, with effective diversification into value-added services [9] - **Toast:** Holds a strong competitive position in the point-of-sale space [9] Underweight Ratings (Cyclical Call) - ADP and Paychex are underweight due to cyclical concerns related to potential rising unemployment and lowering of interest rates [10] - The underweight ratings are not structural, as these companies still have solid business models [10] Buy Now Pay Later (BNPL) - Wells Fargo views BNPL as a more consumer-friendly product than traditional credit cards due to transparency and lack of late fees (specifically the "pay in four" model) [12][13][14] - BNPL can help consumers stretch their dollars, especially around the holidays, and retailers benefit from increased transactions [14]

Labor Relations - Starbucks workers are scheduled to vote on authorizing a strike, potentially disrupting CEO Brian Nichols' turnaround plans [1] - Workers United is advocating for improved working hours, increased take-home pay, and resolution of unfair labor practice charges [2] - The two parties are currently not engaged in active negotiations, with a previous proposal from Starbucks rejected by the union in April [2] - Workers United represents approximately 4% of Starbucks' partners, but the union is committed to securing a contract [3] Financial Performance & Strategy - Starbucks' earnings are due next Wednesday, with same-store sales having been negative for six consecutive quarters [3] - The holiday season typically sees a sales increase for Starbucks, which is currently undergoing a turnaround under CEO Brian Nichols [3] Operational Impact - The specifics of a potential strike, including duration, location, and timing, are yet to be determined pending the authorization vote [4] - Approximately 650 unionized stores exist out of 18,000 licensed and company-operated stores in the US and Canada [5]

Welcome back to the exchange. CNBC debuting a new housing market survey going beyond the headline numbers for an on the ground look into residential real estate, which is perfect, right. It's all local.You need on the ground. Diane Ol joins me here on set with a third quarter findings. This is going to get interesting as we have compares.Right. Exactly. What do we know now.Okay, so looking at the third quarter and first just want to explain what we're trying to do here, which is kind of get behind get beyon ...

Well, a Trump administration official now denying an earlier report from the Wall Street Journal that said the Commerce Department is in talks with some quantum computing companies for equity stakes in exchange for funding. Quantum stocks took a dip but still higher today despite that denial. Christina Parts and Levis Partzene has more in today's tech check.Hi, Christina. >> It's been a roller coaster with this story, but like you said, the Trump administration is really pouring cold water on a report about ...

Welcome back. Beyond Meat's wild meme stock ride continues. Shares lower today, down as much as 22% pre-market, but up nearly 400% so far this week.And while volatility is the name of the meme trade game, there are signs some options traders are actually banking on a bit of stability in a few of these names. I'm nervous to even say that. Joining me now to discuss is Esuana's Chris Murphy.Okay, I think we're all still trying to understand meme stocks. How the retail trader ends up glomming on to one. Is it s ...

DC Aean Jabers this time with the story. Aean, what do we have. >> Courtney, we're getting our first official scheduling detail for the Xiinping Donald Trump meeting which the White House says now is scheduled for Thursday morning in Asia.White House press secretary Caroline Levit is briefing reporters right now at the White House and she just gave us uh the detail of a Thursday morning briefing. No other information on that other than what the president said yesterday which was that this meeting has been s ...

Market Dynamics - Oil prices surged nearly 6% following the Trump administration's imposition of additional sanctions on Russia's two largest oil companies, with WTI crude reaching $61 per barrel and Brent at $65 per barrel [1] - The market had developed a large short position, anticipating a significant supply glut, making it vulnerable to price spikes following the sanctions [3] - The potential loss of Russian oil supply could significantly impact the market, with estimates ranging from 1 million to 5 million barrels per day [5] Sanctions and Geopolitics - The effectiveness of the sanctions is questionable without the implementation of secondary sanctions, which would target entities transacting with sanctioned Russian oil companies [4][11] - Secondary sanctions, if applied, could be highly disruptive but effective, potentially halting transactions with the targeted entities [14] - The reluctance of the US government to implement secondary sanctions stems from concerns about the potential economic repercussions [12] Price Predictions and Trading Strategies - The market has already rallied by approximately $5 from its lows, and further upside potential exists [6] - Analysts suggest that oil prices could rally another $5 to $10 per barrel, given the market's short position [9] - Overcoming the $80 per barrel mark would require a substantial shock to the system [7] - Short positions in oil are risky during such events, suggesting a potential shift in trading strategies [6] Global Economic Implications - Geopolitical factors and supply disruptions significantly influence oil prices, with global economic implications [10] - The trend of de-dollarization, driven by concerns over sanctions, is contributing to increased demand for gold [12][13]

And Emily Wilkins has the story. What do we have now, Emily. >> Well, Courtney, on day 23 of the shutdown, Republicans are trying something slightly different.They just put a bill on the floor that would have allowed federal workers who have not been furled. That means they're currently working to get their paycheck. Tomorrow, over 2 million federal workers are expected to miss their first full paycheck of the shutdown.A huge, course, a major pain point for them. But most Democrats actually voted against th ...

Now, Drew Mattis, chief market strategist at Metife Investment Management. You know, Drew, I have to start this off by by reminding viewers that I do cover the retail sector. And so, I think about the consumer an awful lot.And I have been really surprised pleasantly on how well the consumer has held up. I'll even go back five years, 2020. If you would have told me that we would have seen retail spending the way that we have over the last 5 years, knowing what happened in the broader world, I would have neve ...

While Tesla is reclied price targets slightly, but he's maintaining a buy on the stock. So joining me now is George Genericas. He's senior analyst at Canacord Genuity.George, thanks so much for being here today. I guess we'll just start with a a brief overview of your thoughts on the quarter. We sort of ran through that they had an earnings miss, but they did report stronger than expected revenue.They had a great deliveries quarter in the third quarter that basically helped them overcome the first two quart ...