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📰 Market Headlines |
As predicted here (SO MUCH ALPHA), yesterday’s GDP print came in way hotter than expected. This pushed the S&P 500 to its sixth straight record high. The Dow and Nasdaq climbed as well. US futures are down this morning ahead of the all-important PCE inflation report. The FTC opened an antitrust investigation into the relationships between AI companies and Amazon, Google, and Microsoft. Tesla's shares plunged 12% yesterday, wiping out $73 billion in market value after a horrific earnings report. The median price of new homes in the US has dropped to a two-year low. |
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🕶️ Market Vibes |
🎰 Market Forecasts and Futures |
Hope you guys bet on GDP coming in hot yesterday (I did). |
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😱 Fear and Greed Index |
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🧠 What do you think? |
Why is Tesla struggling? |
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🎤 What you said last time |
You guys were right in line with the consensus, but the print came in hot. |
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| Sorry about cropping answer two. I’ll be more concise next time. |
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📈 Trends you need to know | Search results are from our friends at Glimpse, my favorite way to spot trends. | |
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📊 Stocks |
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Want to invest like Buffet? With Public.com, you can emulate Berkshire Hathaway’s portfolio with just a few clicks. |
Winners and losers |
Earnings, upgrades, and acquisitions |
Intel tumbled 11% as it projected Q1 adjusted earnings of 13 cents per share, far below the 34 cents EPS analysts expected. American Airlines soared 10% post-Q4 earnings beat. Last quarter American cut $500 million off its debt, reaching a total of $3.2 billion for the year. Humana shares hit a four-year low, down 13%. High Medicare Advantage costs slashed its expected earnings per share in half. Indiana-based First Financial Corporation will acquire SimplyBank in Tennessee for $73.4 million, continuing the trend of midsize bank consolidation. Luxury brand LVMH beat earnings and raised its dividend. Shares were up 8%. 🍾 |
Market movers |
After several consecutive days without catastrophic mishaps, the FAA approved a plan for Alaska Airlines and United Airlines to resume Boeing Max 9 flights by next week. Boeing's stock still fell 5.7%. Apple is now the most popular smartphone in China. The EU forced Apple to drop its App Store commission from 30% to 17% and open iOS up to third-party app stores. Apple responded by adding a $0.50 fee for every app download past a million. J.P. Morgan estimates little effect on revenue. The fee will balance out the commission rate, and Europe is only 6% of earnings. Layoffs: Paramount confirms it is cutting jobs, with CEO Bob Bakish citing cost reductions and possible private buyout discussions. Microsoft fired 1,900 people from its gaming division. GM's self-driving unit Cruise is under investigation by three federal agencies and the state of California after a bungled response to a crash with a pedestrian. Levi Strauss and the 49ers have agreed to a ten-year $170 million naming rights extension. |
Ideas, trends, and analysis |
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UBS raised AMD's target to $220 on strong GPU sales and 3D chip leadership. AMD reports earnings next week. Alibaba and JD.com stocks rose in anticipation of Beijing's stimulus. There’s a “super squeeze” on commodities; expect prices to remain higher for longer. |
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🌍 Global Perspectives | 🇹🇷 Turkey's central bank raised interest rates to 45% to combat 65% inflation. This is the eighth recent hike attempting to stabilize the economy and currency. | 🇨🇳 China’s bailout continues to send property stocks higher. | 🇰🇷 South Korean lawmaker Bae Hyunjin was hospitalized after an attack by an assailant with a rock. The political climate in South Korea has become intensely polarized. This comes several weeks after another attack where an opposition leader was stabbed in the neck. | 🇪🇺 The EU plans to counter Starlink with its own satellite system, IRIS². The project will cost €3 billion, with full deployment by 2027-2028. | 🇭🇹 Gang violence in Haiti jumped by 122% last year. Gangs now control 80% of the capital Port-au-Prince. |
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📊 Crypto | | North Korean hackers got away with 41% less crypto theft in 2023. |
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🧠 Errata | The family of a woman killed by an alligator sued her Florida retirement home. They alleged the managers ignored warnings, and workers even fed the gator. Why retiring sucks. Global war deaths are at a 35-year high. |
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📺 What to Watch Today |
| Why Trucks In America Are Under Attack |
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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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