Good morning. QQQs -5bps bouncing around a bit this morning. Quantum names taking a hit on Jensen’s comments - another mo area which had been teflon getting hit. BTC -1.3%. Yields mixed - 2 year dn 1bp, 10yr +3bps. China -1%. Market closed tomorrow then NFP on Friday. Let’s get to it…
EBAY: Meta to test showing eBay listings on Facebook Marketplace
Meta said on Wednesday it would launch a test in Germany, France and the United States that will enable buyers to browse listings from eBay on Facebook Marketplace and then complete their transactions on eBay.
The European Commission had in November fined Meta $840 million over abusive practices benefiting Facebook Marketplace.
Meta said on Wednesday that while it continued to appeal the Commission’s decision on Facebook Marketplace, it was working on to address the points raised.
META has never put out GMV #s for Marketplace but some estimate at $30B+ vs EBAY at $70-$75. META has also said 1B people click on marketplace although most of those don’t transact vs EBAY at 130M MAUs…So potential for this to be a very big deal.
APP: Jefferies raises #s on pretty bullish note and raises PT to $425
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