🌑 Plus, learn what it's like to fall into a black hole
09 May | Read Online | | | | | | | Boost your retirement with an IRA | IRAs are the ideal way to add alternative assets to a tax-advantaged retirement account. | Our friends at Yieldstreet offer more alternative asset classes for IRAs than any other platform — everything from real estate to private credit to crypto. | | How it works: | Create an Equity Trust account through Yieldstreet. Roll over or transfer funding. Equity Trust’s concierge team will help you. Add investments | Boom. You're all set to invest in Yieldstreet offerings with your retirement account. | | Pay as little as a 0.09% annual fee based on your retirement account balance. | View fee schedule. | | 📰 Market Headlines | | Stocks varied on Wednesday as investors assessed interest rate signals and new earnings reports for signs of a corporate-led rebound. The Dow notched its sixth straight win yesterday. The S&P 500 ended flat, and the Nasdaq Composite slipped 0.18%. Boston Fed president Susan Collins said it will take longer "than previously thought" to bring inflation down. Stock buybacks soared to their highest level since 2018, with companies announcing share repurchases of over $383 billion in the last 13 weeks. The Biden administration said it’s considering restricting exports of advanced AI models to China and Russia to safeguard US AI. Rep Majorie Taylor Green’s attempt to oust Speaker Mike Johnson was shot down 359 to 43. |
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| | 🕶️ Market Vibes | 🎰 Market Forecasts and Futures | Forecasts via Kalshi, the prediction market. | Markets have given up on a June cut. November is now the earliest likely(ish) date. | | 😱 Fear and Greed Index | | | 🎤 What you said last time | I did not expect this result. | | 📈 Trends you need to know | | It may surprise you to learn that Congress is nowhere near its all-time lows in terms of public opinion. Approval ratings dipped to 9% in 2013. |
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| | 🧠 What do you think? | 💬 Have your say | Do you approve or disapprove of the way Congress is handling its job? | | | 📊 Stocks | | | Winners and losers | Earnings, upgrades, and acquisitions | New York Times saw Q1 revenue rise 5.9%, beating expectations; shares climbed nearly 4%. Bumble crushed estimates for Q1 revenue; shares surged over 4%. Airbnb fell over 8% after giving weaker-than-expected Q2 guidance. Robinhood reported record Q1 earnings and revenue that topped expectations; shares jumped over 5%. Shopify plummeted 18% after the company gave revenue and profit guidance for Q2 that spooked investors. Fox Corp edged up 1.3% after beating Q3 profit estimates. Arm Holdings gave a Q1 revenue forecast that beat expectations, but its full-year outlook missed estimates, sending shares down 4%. Despite reporting a smaller-than-expected Q1 loss, Affirm shares tumbled 9.5% after the earnings call. | Market movers | The "world's largest" direct air capture plant opened in Iceland, aiming to remove 36,000 tons of carbon annually. Intel and Qualcomm said some of their export licenses to China were revoked, with Intel expecting a revenue hit. The US Patent and Trademark Office confirmed another leak of filers' address data, exposing 14,000 applicants' private addresses. Tesla removed all US job postings after Elon Musk's recent layoffs of over 20,000 workers. | Ideas, trends, and analysis |
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| The world generated a record-breaking 30% of its electricity from renewables last year. Japan's vacant houses, known as "akiya", have surged to a record 9 million as the country grapples with its declining population. Germany's economy is set to stagnate in 2024, despite a stronger-than-expected start, continuing to trail behind its European counterparts. |
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| | 🌍 Global Perspectives | 🇺🇸 🇮🇱 American President Biden threatened to stop sending weapons to Israel if it proceeds with its assault on Rafah. 🌍 The world experienced its hottest April on record, extending an 11-month streak of record-breaking temperatures. 🇪🇺 The European Commission announced plans to allow exemptions from a proposed ban on "forever chemicals.” 🇦🇺 Australia increased student visa savings requirements and warned colleges about fraudulent recruitment. 🇺🇸🇵🇭 US and Philippine forces sank a mock enemy ship during war drills in the disputed South China Sea. |
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| | 📊 Crypto | | Bitcoin slid toward $62,000 as part of a broader crypto market dip. FTX proposed a new reorganization plan to repay creditors 118% of their claims in cash within 60 days of court approval. Wintermute announced it will provide liquidity for Hong Kong's recently launched spot bitcoin and ether ETFs as part of its Asia expansion. NYSE Arca withdrew a filing for Grayscale's futures ETH ETF. | |
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| | | 📺 What to Watch Today | | 360 Video: NASA Simulation Plunges Into a Black Hole |
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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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