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| | | | Yesterday’s WC (hey, that’s me) debunked a silly economic theory involving Winnebagos and the economy. Also, Saudi Arabia’s humiliating about-face. | |
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📰 Market Headlines |
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A hot CPI report torched equities and hopes for near-term Fed rate cuts. The Consumer Price Index rose 3.5% year-over-year in March, exceeding forecasts. Core CPI also came in above expectations at 3.8%. Futures are now pricing in the first cut in September instead of June, and just two cuts this year instead of three. The Dow & S&P 500 both dropped about a percent on the news.
Bitcoin rebounded to 70k, ignoring inflation and the rest of the world. European stocks closed slightly higher. Swiss chocolate maker Barry Callebaut climbed 9.7% after reporting results.
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🕶️ Market Vibes |
🎰 Market Forecasts and Futures |
Forecasts via Kalshi, the prediction market. |
The odds of a rate cut by June…👀 👀 👀 |
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😱 Fear and Greed Index |
It’s been a long time since I’ve seen this index tick back over to neutral. |
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🧠 What do you think? |
🎤 What you said last time |
Ouch. More correct than expected. |
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💬 Have your say |
Rate cuts aren't coming. Does the stock market finally go down? |
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📈 Trends you need to know | |
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What do you think? Do Winnebago sales predict consumer confidence? Or vice versa? |
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📊 Stocks |
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Winners and losers |
Earnings, upgrades, and acquisitions |
Delta Air Lines reported Q1 profit of $37 million with revenue up 8%; stock climbed 4% before retreating with the broader market. Rent The Runway reported mixed Q4 results, missing per-share expectations but beating revenue forecasts; shares jumped 120%. [Ed: Is this a meme sock?] Vertex Pharmaceuticals announced it will purchase Alpine Immune Sciences for $4.9 billion to acquire new immunotherapy treatments.
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Market movers |
Russia seized over 650,000 acres of farmland and other assets from a company with ties to an "unfriendly" country. A Trump Media director was accused of "hacking" files in an attempted corporate coup. Job cuts: Checkr, last valued at $5B, slashed 32% of its workforce. USAA eliminated over 200 roles due to "changing business needs." The Wall Street Journal laid off at least 11 staffers on its video and social media desks. Stellantis consolidated 9 US business centers to 6 and laid off 30 employees.
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Ideas, trends, and analysis |
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🌍 Global Perspectives | 🇷🇺 Russia aborted the launch of its Angara-A5 space rocket for the second time in two days. 🇭🇰 A fire in a packed Hong Kong building killed five and sent dozens to the hospital. 🇨🇳 🇹🇼 China's Xi told Taiwan's former president that nobody can stop the "family reunion" between the two sides. 🇮🇹 At least three were killed in a blast at an Italian hydroelectric plant.
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📺 What to Watch Today |
Is the Middle East about to get a lot hotter? |
 | Middle East Latest: US Expects Iran Retaliation on Israel |
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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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