Happy Wednesday 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 fell Wednesday on another sticky inflation report as investors took risk off the table in preparation to put turkey on it.

• 📈 | One Notable Gainer: Texas Pacific Land’s stock led the S&P 500 with a gain of 4.2% in its first day of trading on the exchange. Scroll down for more.

• 📉 | One Notable Decliner: It was a bad day for PCs. Shares of HP and Dell slumped 11.4% and 12.3%, respectively, after both issued weak guidance.

Plus, thinking about investing in real estate in 2025? One-click subscribe to our monthly newsletter, The Last Cast Letter. We share our thoughts every month, plus we give accredited investors access to deals we’re working on.

And, before we get started, a quick programming note: We, like the markets, will be off tomorrow for the holiday. We’ll return to our normal schedule on Friday, November 29.

Happy Turkey Day, all!

Sponsored by Last Cast Capital

Don’t Miss These in 2025

Stop, for a quick second and read the headlines below:

• A look into the decline of medium-density housing and its impact on American society. 

• Understanding how EU regulations make their way into the US via the California-to-Federal government pipeline. 

• How American Boomers impact home-buying in Barcelona.

If any of them sound even remotely interesting, then be sure to one-click subscribe here to our monthly real estate newsletter, The Last Cast Letter. 

Every month we publish our thoughts on the real estate space, plus, we send accredited investors private investment opportunities.

If you’re looking to allocate a portion of your portfolio to direct real estate investing in 2025 then hit the button below.

MARKET MOVERS

Nordstrom, Urban Outfitters, CrowdStrike

JWN (-8.2%) Nordstrom CEO Notes ‘Noticeable Decline’ in Sales Trends (Investopedia)

URBN (+18.3%) Urban Outfitters’ stock on track for biggest gain in more than a year (MarketWatch)

CRWD (-4.6%) CrowdStrike Falls After Disappointing Earnings Outlook (Bloomberg)

UMAC (+81.2%) Shares of drone maker Unusual Machines soar 100% after Donald Trump Jr. joins advisory board (CNBC)

SYM (-35.9%) Walmart-backed Symbotic plummets 35% on delayed annual filing, financial reporting concerns (Reuters)

OVERHEARD ON THE STREET

CNBC: PCE, the Fed's preferred inflation gauge, rose 0.2% monthly and showed a 12-month inflation rate of 2.3%, both matching expectations.

Reuters: The US economy grew at a solid 2.8% annualized rate in the third quarter, driven by strong consumer spending, per final GDP estimates.

AP: President-elect Donald Trump picked two more members of his first administration for economic roles: Jamieson Greer as US trade representative and Kevin Hassett as National Economic Council director.

Bloomberg: Texas accused BlackRock and Vanguard of antitrust violations for allegedly inflating electricity prices through their ESG investments.

MarketWatch: Trump could save $1.4T by rescinding Biden's executive orders, potentially impacting student-loan debtors, Medicaid, and Social Security recipients.

TOMORROW’S TRADE IDEA, TODAY

Longhorn Bull Run

Tip of the Iceberg

Texas Pacific Land (TPL) saw its shares spike 14% on Friday, when it was announced that it would be replacing Marathon Oil (MRO) in the S&P 500. However, that wasn’t the start of a bull run, but a continuation of one.

TPL is one of the largest landowners in Texas, and its portfolio includes vast real estate holdings in the oil-rich Permian Basin. That area is also a hub for AI data centers and the energy they require. Following Friday’s rally, the stock is up more than 210% YTD.

Bloomberg analysts believe the current rally is just the tip of the iceberg for this stock.

An AI Partner

Texas Pacific Land’s 873,000 acres in West Texas could prove useful for tech companies like Alphabet (GOOGL), Microsoft (MSFT), and Amazon (AMZN) to power their AI expansion.

Data center demand is expected to grow 170% by 2030. TPL is well-positioned to supply renewable and gas-based energy to these facilities.

For that reason, this oil stock is extremely AI-adjacent and could have a very bright future as the AI revolution rages on.

Big Enough for Two?

TPL isn’t the only player in town — but the town could prove big enough for two.

LandBridge Co (LB) owns 220,000 acres in the Permian Basin. The company’s share price has tripled since its IPO in June, and it has announced plans to increase its land holdings by 20% specifically for digital infrastructure and renewable energy.

Its revenue has grown over 60% over the past three months alone, and Benzinga analysts find its top-line growth potential extremely promising. The stock is up more than 315% YTD.

But some suggest that, like a Western sunrise, it may have nowhere to go but up.

Sponsored by Last Cast Capital

Don’t Miss These in 2025

Stop, for a quick second and read the headlines below:

• A look into the decline of medium-density housing and its impact on American society. 

• Understanding how EU regulations make their way into the US via the California-to-Federal government pipeline. 

• How American Boomers impact home-buying in Barcelona.

If any of them sound even remotely interesting, then be sure to one-click subscribe here to our monthly real estate newsletter, The Last Cast Letter. 

Every month we publish our thoughts on the real estate space, plus, we send accredited investors private investment opportunities.

If you’re looking to allocate a portion of your portfolio to direct real estate investing in 2025 then hit the button below.

ON OUR RADAR

AP: Some of the Ocean Spray cranberries hitting dinner tables tomorrow came from a bog in southeastern Massachusetts.

CNBC: The Thanksgiving box office, driven by Disney's Moana 2, Universal's Wicked, and Paramount's Gladiator II, could be the best since the pandemic.

BI: Patagonia is tightening operations and cutting jobs as sales slow, with some workers saying the company has lost its soul.

CNN: Ikea joined other major retailers in warning that Trump’s proposed tariffs could force it to raise prices.

WSJ: Taylor Swift's exclusive deal with Target to sell her self-published Eras Tour book could boost the retailer during a challenging period.

TUESDAY’S POLL RESULTS

Which stock do you think will outperform over the next 12 months?

🟩🟩🟩🟩🟩🟩 EDP Renovaveis (EDRVF)

🟨🟨🟨🟨⬜️⬜️ RWE (RWEOY)