Alternative Investing Report - December 12, 2024
Vincent Alternative Investments
Keep up-to-date on the latest alternative investing news and insights in less than 5 minutes per week.
Happy Thursday. November’s inflation numbers are in, office building sales volume is up, Google released its new AI model, and ServiceTitan’s IPO is here. Let’s dive in!
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?? DAILY MARKETS
?? INFLATION REPORT
Inflation rose slightly in November, with the Consumer Price Index (CPI) showing a 0.3% gain for the month and 2.7% gain for the past twelve months. These are both up from October’s numbers, which showed a 0.2% monthly rise and 2.6% yearly rise. The core CPI, which excludes food and energy costs, rose by 3.3%, the same as October’s numbers.
? TAKEAWAY: While these numbers are still above the Fed’s stated 2% target, the data was in line with expectations, and the Fed is still expected to cut rates when it meets next week. The odds of a 25 basis point cut rose from 88% to 98%, and this in turn led to a boost in both the equities and crypto markets.
?? NOTABLE NEWS
???Google releases Gemini 2.0: The newest version of Google’s AI model was released, with the chatbot available to the public. Additional features such as text-to-speech and image generation are now available to developers and will be made fully public in January. This comes on the heels of multiple OpenAI releases this past week, as the AI arms race continues to heat up.
???ServiceTitan IPO: The cloud software company for contractors priced its IPO at $71 per share, above the expected range of $65-$67, giving the company a valuation of $6.3 billion, below its last private valuation of $7.6 billion. It is looking to raise almost $625 million in the offering, which is scheduled to debut today on the Nasdaq.