Over the last few days, lots of folks have said Stocks and Income is going to the spam folder due to Google’s byzantine new spam rules. If you’ve missed a couple of issues, please check your spam folder. If you see something from us in there, I’d be grateful if you marked it as not spam.
That’ll ensure these notes keep finding their way to your inbox.
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📰 Market Headlines
Get $20 free shares and options rebates for life if you create an account at public.com using code ALTSCO before March 31.
The Dow & S&P500 drifted downward for the third straight session, settling from a record-breaking first quarter and awaiting the PCE index print on Friday.
Durable goods orders rose 1.4% in February, exceeding expectations.
Donald Trump's Truth Social stock closed up 16%, with surges during trading as high as 50%.
Shipping giant Maersk fell 2.6% after confirming one of its chartered container ships crashed into a bridge in Baltimore.
The Baltimore bridge collapse has halted the flow of ships in and out of the Port of Baltimore, straining supply chains and scrambling deliveries.
Demand for private company shares has reached its highest level since 2021.
🕶️ Market Vibes
🎰 Market Forecasts and Futures
Forecasts via Kalshi, the prediction market. The prediction market is forecasting three rate cuts again.
😱 Fear and Greed Index
🧠 What do you think?
🎰 What's the bigger meme stock in 2024?
🎤 What you said last time
Most of you are good people!
📈 Trends you need to know
Everyone sort of forgot about this Covid phenomenon. It reported a terrible quarter, btw. |
📊 Stocks
Winners and losers
Earnings, upgrades, and acquisitions
Terran Orbital stock jumped 10% following Lockheed Martin's $500 million buyout offer.
Progress Software shares traded down slightly by 0.2% following mediocre FY24 earnings guidance.
Market movers
Trump Media stock skyrocketed 50% in its Nasdaq debut.
S&P Global downgraded five regional U.S. banks due to their commercial real estate exposures
Layoffs:
Canada Goose cut 17% of its corporate workforce as part of a "Transformation Program."
Just to see if anyone reads this far, I’ve written a sonnet about the layoffs.
Oh, Canada Goose, thy name hath felt the scythe,
A portion of thy force, undone by fate,
No more to labour 'neath the corporate tithe,
Of thy great order, they maketh up the weight.
And Bell, thy toll rings mournful in our ears,
Four hundred souls, in moments dismissed,
They turn their faces home, awash in tears,
Their names now vanished in the morning mist.
Dell and UPS, thy countenance is wan,
Thy workers disbanded under night's dark veil.
The hearts that once did beat, now forever gone,
Over twelve thousand tales of loss and travail.
Yet shall we hope for dawn after this night,
From such harsh cuts may yet come stronger might.
You’re welcome / I’m sorry.
Ideas, trends, and analysis
JPMorgan said "all roads lead to Taiwan Semiconductor".
Cocoa prices are at an all-time high as the world faces the largest supply deficit in over 60 years.
Boeing stock has slumped 25% and it might be time to buy, if you believe in miracles.
Republicans proposed a "modest adjustment" to the Social Security retirement age to account for increased life expectancy.
At least eight states have announced plans to pump the breaks on gas-powered car sales by 2035.
Bernstein slashed its Tesla price target, seeing another 30% downside.
🌍 Global Perspectives
🇪🇨 Ecuador's youngest mayor, 27-year-old Brigitte García, was found dead alongside her advisor.
🇪🇺 Planes across Europe have been hit by mystery GPS jamming.
🇭🇹 Relentless gang violence has deepened hunger in Haiti's capital Port-au-Prince.
🇵🇰 🇨🇳 Five Chinese nationals were killed in a suicide bomb attack on their convoy in northwest Pakistan.
📊 Income
📊 Crypto
Bitcoin briefly topped $71,000.
Mike Novogratz predicted "boomer wealth" will drive Bitcoin adoption to the moon.
🧠 Errata
Boeing somehow prepared to launch a rocket into space with its first crewed test flight in May.
Washington State signed into law the strippers' bill of rights, providing the most comprehensive statewide protections for adult entertainers in the nation.
The Hubble Space Telescope captured the birth of a new star.
A Texas man used photos of other people's boarding passes to sneak onto a flight.
📺 What to Watch Today
WTF is up with cocoa?
That’s all for today. Did I miss anything? Smash the reply button to let me know.
Cheers,
Wyatt
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