💥 Apple's event blows the doors off

🚀 While the markets hit fresh new ATHs

Euro 2024 kicks off Friday, with Germany taking on Scotland. Join our fantasy league if you want to win some swag.

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.

The S&P 500 and Nasdaq reached new record highs as investors braced for the Federal Reserve policy decision and key inflation data.
- The Dow gained about 0.2%, while the S&P 500 and Nasdaq rose 0.3% and 0.4% respectively.

Apple announced plans to integrate ChatGPT into their iPhones.
- One CEO threatened to ban them if they do.

Shares of GameStop tumbled 15% yesterday as influencer Keith Gill's return to YouTube failed to spark investor enthusiasm.

Forecasts via Kalshi, the prediction market.

I wish I’d run this poll a few months ago.

While Apple has kept pace with Samsung, it’s lagged far behind Google over the last year.

AI and the A stands for Apple, of course

Get $20 free shares at public.com using code ALTSCO.

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.

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.

🇺🇦 🇷🇺 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.

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.

A new study revealed that elephants call each other nicknames.
The Cascadia Subduction Zone off the West Coast could unleash a catastrophic 9-magnitude earthquake at any minute, a new study warns.
Younger generations are ditching dating apps for in-person singles events, with attendance up 42% in the last year.

That’s all for today. Did I miss anything? Smash the reply button to let me know.

Cheers,

Wyatt

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