🔚 Is this the beginning of the end?

📊 Stocks are down while vol, gold & oil are up

A shocking number of our readers have no idea what to do if WW3 breaks out. Anyway, where do you land in the biggest debate of our time — Road House vs Red Dawn?

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📰 Market Headlines

  • Tesla will slash 10% of its global workforce to cut costs after weak Q1 delivery numbers. Stock slumped 5%.

  • The S&P 500 slipped under 5,100 closing down 1.2%. Its two-day loss of 2.6% was the biggest in a year. The Dow has fallen for six straight trading days.

  • US retail sales jumped 0.7% in March, compared to February boosted by online shopping. This crushed the 0.3% expectation.

  • Wells Fargo upgraded its 2024 US GDP growth forecast up from 1.3% to 2.4%.

  • Jury selection began in Trump's historic hush money trial. Unconcerned, the former president appeared to nap through it.

🕶️ Market Vibes

🎰 Market Forecasts and Futures

Forecasts via ​Kalshi​, the prediction market.

😱 Fear and Greed Index

This is not going well.

📈 Trends you need to know

Global views on the Road House vs Red Dawn debate are deeply divided.

🧠 What do you think?

💬 Have your say

Yesterday’s poll results got me thinking about the Red Dawn remake, where (originally) Chinese troops, backed by Russia, invaded the US. The baddies were changed to North Koreans in post-production so the film could be screed in China.

I also just saw the Roadhouse remake.

What's the better (less bad) remake?

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🎤 What you said last time

I’d love to meet the three of you who think OJ didn’t do it.

📊 Stocks

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

Winners and losers

Earnings, upgrades, and acquisitions

  • Charles Schwab beat revenue estimates thanks to a 21% jump in asset management fees, bolstering shares up 3%.

  • Goldman Sachs crushed earnings expectations with a 31.7% EPS increase as a rebound in merger deals boosted revenue 16.3%; shares surged 5.4%. The Vampire Squid wins again.

  • Salesforce dropped 7% on reports it is in talks to acquire data-management firm Informatica for around $10 billion.

Market movers

  • Apple fell 2.19% after news it lost the top phone maker badge to Samsung. Its iPhone sales dropped 10% in Q1.

  • Trump Media shares plummeted over 18% after the company filed to issue millions of additional shares.

  • The Biden administration awarded Samsung $6.4 billion in grants to boost chip production in Texas.

  • UPS is eliminating 206 jobs at its New Stanton warehouse amid plummeting shipping volumes.

Ideas, trends, and analysis

  • Liberum Capital warned Middle East turmoil could lead to a 10% stock market correction and $100 oil.

  • P&G's price hikes over the past 9 quarters have thinned shoppers' wallets.

🌍 Global Perspectives

  • 🇮🇱🇮🇷 Israel's war cabinet debated how to respond to Iran's missile and drone attack. The US urged restraint.

  • 🇬🇭 Ghana's ruling party’s presidential candidate took a strong anti-gay stance, potentially losing the country $3.8 billion in World Bank funding.

  • 🇻🇳 Apple CEO Tim Cook arrived in Vietnam as the tech giant looks to diversify production away from China.

  • 🇸🇬 Singapore's Prime Minister Lee Hsien Loong will hand over power to successor Lawrence Wong on May 15.

  • 🌍 The World Bank warned of a "historical reversal" of development for the poorest nations.

📊 Crypto

  • Bitcoin hit its lowest price in over three weeks, dropping under $63,000.

  • Multiple Hong Kong Bitcoin ETF applicants claimed approval on WeChat and then retracted.

  • But a Hong Kong Bitcoin ETF would be tiny, with only an expected 500 million in Assets Under management.

🧠 Errata

  • For the first time since 2001 the majority of polled Americans said they are not getting enough sleep.

  • A kid stumbled upon the rare fossil of a giant sloth.

  • A Colorado funeral home couple was charged with COVID fraud after authorities discovered 190 decaying bodies on the premises.

  • A NASA photographer captured pink flames ten times the diameter of the Earth erupting from the sun during a solar eclipse.

📺 What to Watch Today

Pain don’t hurt.

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

Cheers,

Wyatt

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