| | | Masterworks just sold this Basquiat for $8m | Masterworks just sold 006 by Jean-Michel Basquiat for $8 million. | This is their 23rd exit, but their first ever Basquiat exit, and it delivered their second-largest payout to date. | | Over 2,000 investors are getting a payout this week. Masterworks has distributed back more than $60 million in total proceeds across 15,000+ payouts. | | | 📰 Market Headlines | | | | 🕶️ Market Vibes | 🎰 Market Forecasts and Futures | Forecasts via Kalshi, the prediction market. | | 😱 Fear and Greed Index | | | 🎤 What you said last time | I wish I’d run this poll a few months ago. | | 📈 Trends you need to know | | While Apple has kept pace with Samsung, it’s lagged far behind Google over the last year. |
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| | 📺 What to Watch Today | AI and the A stands for Apple, of course |  | Apple Intelligence in 5 minutes |
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| | 🧠 What do you think? | After yesterday's blockbuster announcements, | | | 📊 Stocks | | | Winners and losers | Earnings, upgrades, and acquisitions | Krispy Kreme’s stock soared 5.6% after Truist upgraded it to buy, citing high hopes for a McDonald’s deal. Med-Metrix announced the acquisition of HBCS, enhancing its end-to-end RCM capabilities with best-in-class patient financial engagement. Cognizant agreed to acquire Belcan for $1.3 billion, expanding its reach in the aerospace, defense, space, and automotive sectors.
| Market movers | OpenAI hired ex-Nextdoor CEO Sarah Friar as CFO and ex-Planet Labs president Kevin Weil as chief product officer. UAW president Shawn Fain is under investigation for abuse of power and retaliation. A US appeals court rejected Uber and Postmates' challenge to a California law requiring them to treat drivers as employees. The Hawaii Technology Development Corp. awarded $9.4 million in grants to diversify Hawaii's economy. Eli Lilly's Alzheimer's drug was unanimously recommended by an FDA advisory panel, potentially expanding treatment options. Stanley Black & Decker is closing its NC facility, cutting 224 jobs in its second round of Charlotte-area layoffs this year.
| Ideas, trends, and analysis |
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| Consumers are the most bullish on stocks since May 2021, with a 40.5% probability of stocks rising in the next 12 months. [Ed: Time to go short?] Monthly cargo imports are expected to hit a two-year high, with port volume up over 13% year-over-year through April. Subscription revenues are projected to grow 13.5% to $1.26 trillion by 2025. Americans are more optimistic about their finances, with stock price expectations at a 3-year high. Flooding costs the US economy an estimated $180-496 billion per year, over 1% of GDP, as climate change boosts risks.
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| | 🌍 Global Perspectives | 🇺🇦 🇷🇺 Ukraine's military claimed it destroyed a Russian Su-57 stealth fighter jet in a drone strike inside Russia. 🇲🇼 A plane carrying Malawi's Vice President Saulos Chilima and nine others went missing after failing to make a scheduled landing. 🇨🇳 The commercialization of 5G in China has generated an overall economic output of approximately $788 billion over the past five years.
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| | 📊 Crypto | | Over half of the top 25 US hedge funds now own Bitcoin ETFs, with 534 institutions having over $1 billion in assets allocated in Q1. DeFi Technologies adopted Bitcoin as the primary treasury reserve asset. Uniswap Labs acquired the crypto reality show game "Crypto: The Game." Season 2 sold out in 13 minutes. Since 2011, Bitcoin has delivered a 104% CAGR, dwarfing the 10% CAGR and lower volatility of Warren Buffett's portfolio over 30 years.
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| | | That’s all for today. Did I miss anything? Smash the reply button to let me know. | Cheers, | Wyatt |
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