“We have been impressed by the progress of Snapchat+, which we expect to offer a 500-600bps of revenue boost for Snapchat for 1Q24, and download data has shown strength in domestic downloads which should help lift that domestic daily active users number.”

 “Simply put, for airline investors intrigued by the notion of a potential domestic turnaround, we expect JetBlue to largely monopolize the spotlight going forward.”

 “We expect Spotify’s transformation from a great product to a great business to accelerate in 2024, as price increases, market share gains and operating leverage become even more clear.”

 “Market expectations and Federal Reserve monetary policy projections have become closer aligned, alleviating a source of market volatility. Furthermore, better-than-expected economic data has been a driving force of the market’s repricing of rate cuts, reducing the likelihood of a hard-landing scenario.”

 “Fast forward to late 2023 and early 2024 and we are once again seeing similar, volatile price action into certain derivatives expirations, namely the monthly VIX futures expirations.”

 “But based on the magnitude of the move in VIX futures on Tuesday, there is an increasing threat that the rising level of greed in the ‘short-volatility’ trade, similar to what we saw in 2018, could result in an air-pocket drawdown of 5% or more in the S&P 500.”