Happy Friday afternoon to everyone on The Street. Here's a snapshot of where markets ended the trading session, plus tomorrow's trade idea delivered to you today.

• 🟩 | US stocks rose today, as cooler-than-expected inflation data buoyed a >1% gain for all three major indexes, but failed to erase their losing weeks.

• 📈 | One Notable Gainer: The aforementioned tide lifted most ships. NVIDIA led the Dow with a 3% gain. But…

• 📉 | One Notable Decliner: Wegovy-maker Novo Nordisk’s stock nosedived nearly 18%, its sharpest decline on record, after its latest weight-loss drug underperformed in a recent study.

Plus, today’s sponsor wants to help you take your smartphone from “expense” to “income”.

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This Tech Company Grew 32,481%...

No, it’s not Nvidia… It's Mode Mobile, last year's fastest-growing software company according to Deloitte.

Mode’s disruptive $martphone, has already helped consumers earn and save $325M+ through simple, everyday use. That led to 32,481% revenue growth between 2019 and 2022, and presence in 170+ countries. Turning smartphones from an expense into an income stream, Mode is disrupting the $1 trillion smartphone industry, like Uber did with taxis and Airbnb with hotels.

They've just been granted the stock ticker $MODE by the Nasdaq, and you can still invest in their pre-IPO offering at just $0.26/share. Friday is the last day that you can invest and receive your shares this year, don’t miss it!

The deadline to invest and receive your shares this year is 12/20.

This is a paid advertisement for Mode Mobile Regulation A offering. Please read the offering circular and related risks at https://invest.modemobile.com/

MARKET MOVERS

Occidental Petroleum, Sirius XM, US Steel

OXY (+3.9%) Warren Buffett’s Berkshire Hathaway scoops up Occidental and other stocks during sell-off (CNBC)

SIRI (+12.2%) SiriusXM Shares Down More Than 60%—Berkshire Hathaway, Hedge Funds Snap Stock Up (MSN)

X (-5%) US Steel Stock Slips on Weaker-Than-Expected Outlook (Investopedia)

CCL (+6.4%) Carnival Sees Profit Rising, Signaling Sustained Cruise Demand (Bloomberg)

AVO (+17.3%) Mission Produce reports 37% revenue growth in recent quarter (The Packer)

OVERHEARD ON THE STREET

WSJ: The Fed's preferred inflation measure, the PCE rose 2.4% in November. The better-than-expected reading soothed fears of an inflationary resurgence.

Reuters: The PCE report also showed a 0.4% increase in consumer spending in November, driven by autos, recreation, and financial services.

CNBC: The Biden administration announced it would forgive another $4.28B in student loan debt for nearly 55,000 public service workers.

Bloomberg: House GOP leaders could vote on a new funding plan as early as today, as Elon Musk and President-elect Donald Trump push for a shutdown.

AP: Starbucks workers’ planned strike could begin today and extend to hundreds of US stores by Christmas Eve.

TOMORROW’S TRADE IDEA, TODAY

This Stock May Not Be Little-Known for Long

An AI Specialist

AI stock Innodata (INOD) is far from a household name. But Wedbush thinks it won’t stay that way for long. And that might make it a great opportunity for investors now. 

Analyst Daniel Ives initiated coverage at an outperform rating with a $48 price target, representing more than 11% upside from current prices. 

Ives is particularly bullish on the company’s custom large language models (LLMs), which are used by companies seeking better, more tailored performance than typical GPTs can provide.

Strong Partnerships

The analyst believes that Innodata’s decades of experience will allow it to eventually become a leader in the AI space.

In fact, five of the so-called “Magnificent 7” companies already have contracts with Innodata, with two more deals currently in the works. 

Ives also said that the company may be able to expand its reach beyond Big Tech to other industries that could benefit from AI help. One such sector is IT services, which he thinks could reach a $200 billion market by 2029.

Massive Gains

To say it has momentum would be an understatement. The stock is up a whopping 428% YTD and more than 200% over the past six months alone.

However, Wedbush believes it is just getting started. And it’s not the only one to think so. According to MarketWatch, its average analyst price target is $46.33 per share, just under Wedbush’s prediction. Its average rating is a Buy.

The mainstream might not have caught on yet, but the Street is in agreement: It’s time to get in on INOD.

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ON OUR RADAR

CNBC: The CFPB sued big banks JPMorgan, Bank of America, Wells Fargo, and Zelle, alleging they failed to investigate fraud complaints and reimburse victims.

AP: AAA predicts over 119 million people will travel at least 50 miles from home this holiday season, surpassing the 2019 record.

BI: Google reduced manager and VP roles by 10% this week as part of its efficiency push.

Bloomberg: VW and labor leaders reached an agreement to reduce capacity at five sites without closing factories.

CNN: Party City is shutting down all its stores and winding down operations, with CEO Barry Litwin announcing that employees' last day is today.

THURSDAY’S POLL RESULTS

Do you think there will be a significant market correction next year?

🟩🟩🟩🟩🟩🟩 🐂 Bullish

🟨🟨🟨🟨⬜⬜ 🐻 Bearish