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Market Overview
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Year To Date Performances:

1. Despite growing scrutiny and opposition from some consumer trading advocates and regulators, Robinhood CEO Vlad Tenev firmly stands by the company's use of the payment for order flow (PFOF) model. In a recent CNBC interview, Tenev defended PFOF, a practice where brokers like Robinhood route customer trade orders to market-makers such as Citadel Securities in return for a part of the profits. Critics argue that PFOF can lead to conflicts of interest, as it may incentivize brokers to prioritize their financial gain over clients' best interests. However, Tenev remains confident in the model's sustainability, amidst the contentious debate surrounding its impact and ethical implications in the trading industry.

2. Media stocks soared on Friday after a Wall Street Journal report suggested early-stage discussions between Apple and Paramount Global to bundle their streaming platforms, Apple TV+ and Paramount+. This collaboration, which could offer the bundled service at a lower cost than separate subscriptions, led to a nearly 10% rise in Paramount's shares, while Warner Bros. Discovery, owner of Max, saw an over 8% increase. The potential bundle, combining Apple TV+'s exclusive content with Paramount+'s extensive TV show and movie catalogue, reflects a growing trend in bundling rival streaming services in the media industry. This approach has already been seen with Netflix and Max's Verizon bundle and Disney's Hulu, Disney+, and ESPN+ package. The partnership could significantly benefit Paramount, especially as it navigates a challenging media landscape marked by declining revenue and streaming losses. Apple and Paramount have yet to respond officially to the news.

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4. Headlines

   1. Pfizer has announced it is ending the development of its weight loss drug due to the number of adverse side effects.

   2. November was the 7th best month for the S&P 500 in the last 30 years, as the index gained 8.92% in 30 days.

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