| | | We’re announcing something game-changing next week. Keep an eye out. |
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| | Tired of startups that never take off? | Startup investing can be terrific, even life-changing. | But startups can take a long time to get going, and there's no guarantee they ever take off. | | If you want to wait months before you see a payout, not years, then sign up for WebStreet. | WebStreet acquires real companies that are making a profit, and let you invest with them. | Forget the hype. Focus on real cashflow with WebStreet. | | | 📰 Market Headlines | | Markets hit new records (again) ahead of key inflation report and Fed decision. Investors expect CPI to show a modest 0.1% monthly increase, keeping the annual rate at 3.4%. The S&P 500 gained 0.3%, Nasdaq climbed 0.9%, while the Dow dipped 0.3% as Apple closed at an all-time high. | Oracle announced cloud deals with both Google and OpenAI, pushing shares by 8%. | Elon Musk withdrew his lawsuit against OpenAI that he initially filed over claims of abandoning its mission to benefit humanity. |
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| | 🕶️ Market Vibes | 🎰 Market Forecasts and Futures | Forecasts via Kalshi, the prediction market. | | 😱 Fear and Greed Index | | | 🎤 What you said last time | This is….generally positive? | | 📈 Trends you need to know | | CPI comes out today, and the consensus is at 3.4%, notably higher than the Fed’s target rate of 2.0%. |
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| | 🧠 What do you think? | | Today's CPI will come in | | | 📊 Stocks | | | Winners and losers | Earnings, upgrades, and acquisitions | Academy Sports and Outdoors shares fell 4% from missed earnings estimates and issued weak guidance. Casey's General Stores beat Q4 estimates with EPS up 57%; shares rose 5.6%. | Market movers | KKR bought an $850-million stake in Quick Quack Car Wash. Johnson & Johnson agreed to pay a $700 million settlement due to claims its baby powder causes cancer. National Amusements ended merger talks with Skydance, causing Paramount shares to drop nearly 8%. WeWork emerged from bankruptcy, naming John Santora as its new CEO. General Motors cut its 2024 EV forecast and announced a $6 billion share buyback. CWA accused Activision QA supplier Lionbridge of retaliatory layoffs after workers tried to organize. | Ideas, trends, and analysis |
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| Existing home sales fell to 1978 levels in April. Goldman Sachs projects a slow recovery, reaching 4.5 million by 2027. Homeownership costs, excluding mortgages, have skyrocketed 26% since 2020. Boston's biotech industry faces a worker shortage, with local colleges projected to fill only 61% of life sciences jobs in the next decade. The NFIB Small Business Optimism Index spiked to the highest level since November 2020. The UK unemployment rate unexpectedly climbed to 4.4%, the highest since September 2021. |
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| | | | | 🧠 Errata | Nathan’s hot dog contest is parting ways with 16-time champ Joey Chestnut after he signed a deal with plant-based franks. A Minnesota jury convicted five people in the first trial of a $250 million pandemic fraud scheme. Boeing's Starliner spacecraft revealed five small helium leaks, extending its first astronaut mission to June 18. A YouTube prankster has been elected as an independent MEP to the European Parliament. |
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| | 📺 What to Watch Today | Come meet his new coworkers. | | The EU Parliament Election Results Explained |
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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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