🥳 CPI day is finally here

😢 But SMB owners are super gloomy

Did you miss last week’s Altea highlights? We’re investing in a rugby team, and you can too. 🏉

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📰 Market Headlines

  • Markets were marooned, waiting on today’s CPI report. The Nasdaq and S&P 500 posted modest gains, while the Dow closed flat.

  • The CPI report prints today at 8:30 a.m. ET, with an expected March “core” inflation of 3.7% a slight slowdown vs the 3.8% annual increase seen in February.

    • Traders hope it will print at or below expectations and re-assure the Fed’s path towards rate cuts this summer.

    • If it comes in hot, expect some chaos.

  • The FAA has begun investigating a Boeing whistleblower's quality claims on 787 and 777 jets, dropping share price by 2%.

  • Rising commodity prices, driven by a brighter global growth forecast, are challenging central banks' interest rate strategies as they remain wary about inflation.

  • The National Federation of Independent Business reported its small business optimism survey scored 88.5, the lowest score since December 2012.

🕶️ Market Vibes

🎰 Market Forecasts and Futures

Forecasts via ​Kalshi​, the prediction market.

😱 Fear and Greed Index

🧠 What do you think?

🎤 What you said last time

💬 Have your say

What will CPI be today?

Answer before the announcement -- no cheating

Login or Subscribe to participate in polls.

📈 Trends you need to know

Slowly but surely, Boomers are moving their real estate investment accounts online, too.

📊 Stocks

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

Winners and losers

Earnings, upgrades, and acquisitions

  • HSBC has announced it is selling its Argentina business to Grupo Financiero Galicia at a $1 billion loss due to, "hyperinflation in the region and a sharp currency devaluation."

  • WD-40 reported Q2 revenue of $139.1 million, missing consensus and dropping the stock price by 1.6%, down 6.54% in the last 3 months.

  • Tilray Brands missed Q3 revenue targets by $10 million, dropping stock 20.6%.

  • Neogen shares tumbled over 5% after the company cut its fiscal 2024 sales and adjusted EBITDA guidance.

Market movers

  • Intel unveiled Gaudi 3, a new AI chip over twice as power-efficient and 1.5x faster than Nvidia's H100 GPU.

  • Moderna jumped 6.2% after its individualized cancer vaccine developed with Merck showed promise in an early-stage trial.

  • Nvidia shares tumbled 2% after Google unveiled a new AI chip. Alphabet rose 1.28%.

  • Google demonstrated its Gemini AI model is enterprise-ready, with new features for advertising, cybersecurity, and content creation.

Ideas, trends, and analysis

  • A new study revealed Germany's economy remains highly dependent on China, responsible for over half of its imports.

  • Global firms with China units are tempted by cheaper yuan-based funding as China's central bank keeps liquidity loose.

  • Domestic shocks in emerging G20 economies are increasingly impacting growth in advanced nations.

🌍 Global Perspectives

  • 🇮🇱 🇵🇸 Israeli Prime Minister Benjamin Netanyahu set a date for a military offensive into Rafah.

  • 🇷🇺 🇰🇿 Russia and Kazakhstan evacuated over 100,000 people during the worst flooding in the area in at least 70 years.

  • 🇧🇬 Bulgaria's president appointed a caretaker government and called snap parliamentary elections for June 9.

  • 🇩🇪 Germany denied accusations at the World Court that it was aiding genocide in Gaza by selling arms to Israel.

  • 🇲🇽 🇪🇨 Mexico said it is filing a complaint against Ecuador with the International Court of Justice over the storming of its embassy in Quito, Ecuador.

📊 Crypto

🧠 Errata

  • The Florida woman who stole Ashley Biden's diary was sentenced to a month in prison.

  • Kansas City superfan known as "ChiefsAholic" was ordered to pay $10.8 million to a bank teller he threatened during a robbery.

  • An Idaho man was arrested for planning ISIS-inspired attacks on churches using knives, firearms, and fire.

📺 What to Watch Today

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

Cheers,

Wyatt

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