📈 Gold prices can't stop won't stop

🏀 And congrats to UConn, even if it was the most boring outcome

Two people in yesterday’s survey say they traveled to see the eclipse. I applaud the dedication.

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📰 Market Headlines

  • Gold prices hit a fresh high of $2,372.50 per ounce yesterday.

  • Equities took the day off while investors waited for key inflation data, the start of earnings season later this week, and for the sun to re-appear.

    • The S&P 500 and Dow posted minimal losses, while the Nasdaq edged up 0.03%. Treasury yields hit 4.44%, their highest level since November.

    • Wednesday's Consumer Price Index report is expected to show a slight monthly slowdown but an annual rise to 3.4% from February's 3.2%, a slow return to the Fed's 2% target.

  • Fed rate cut expectations for 2024 dropped to their lowest since October.

  • The Biden administration announced it will give TSMC over $6 billion to build cutting-edge chip factories in Arizona.

  • Congrats to UConn, who smashed Purdue in the Men’s NCAA Championship last night.

🕶️ 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

With both gold and BTC hitting all-time highs, they both look good right now. Which camp are you in?

Which would you rather have?

You have to hold on for ten years

Login or Subscribe to participate in polls.

📈 Trends you need to know

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

📊 Stocks

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

Winners and losers

Earnings, upgrades, and acquisitions

  • Instead of listening to earnings calls, everyone was looking at the eclipse yesterday.

  • There are plenty of big names reporting in later this week, though.

Market movers

  • Tesla stock jumped 4.9% after Musk announced the long-awaited robotaxi, which will debut on 8/8.

  • US Treasury Secretary Janet Yellen warned China, saying the US would not accept imports that decimate new industries.

  • Tesla settled a lawsuit over the 2018 fatal crash of an Apple engineer, avoiding a trial over the role of its Autopilot technology.

  • Intel had another round of layoffs last week, targeting sales and marketing staff.

Ideas, trends, and analysis

  • TikTok claims its platform contributed $24.2 billion to the US economy in 2023, with 39% of small businesses saying TikTok is critical to their existence. [Ed: 39% seems completely made up]

  • Amazon stock has soared near a record high after big AI investments and layoffs, with stocks up over 80% in the last year.

  • Yellen won't rule out tariffs on China's green exports, seeking a level playing field.

🌍 Global Perspectives

  • 🇲🇽 🇪🇨 Mexico welcomed home its Ecuador embassy personnel after Ecuadorian police raided the facility to arrest former Vice President Jorge Glas.

  • 🇰🇷 🇰🇵 South Korea's second homegrown spy satellite entered orbit after its launch on a SpaceX Falcon 9 rocket.

  • 🇲🇲 Myanmar’s Junta announced a nationwide draft, forcing citizens to choose to fight back or flee.

  • 🇷🇺 🇺🇦 Russia said Ukraine struck the Zaporizhzhia nuclear power plant three times on Sunday, though Kyiv denied it was behind the attacks.

  • 🇳🇮 🇩🇪 🇮🇱 Nicaragua asked the International Court of Justice to order Germany to halt military arms exports to Israel.

📊 Crypto

  • Bitcoin climbed past $72,000, its highest since mid-March, as the halving draws near.

  • Crypto's market cap could double to $5 trillion by year-end.

  • BlackRock's Bitcoin ETF has amassed $18 billion in assets, putting it in the top 3% of all-time ETF launches.

  • Grayscale's $21 billion Bitcoin ETF will "run dry" in 3 months if outflows continue at their current rate.

🧠 Errata

  • A man was arrested for allegedly setting fire to the door of Sen. Bernie Sanders' office while staff were inside.

  • A Wisconsin woman was sentenced to life in prison for poisoning her friend to death with eye drops.

  • Animals at the Fort Worth Zoo went wild during the total solar eclipse.

  • Chechnya has banned techno music and any songs outside the tempo range of 80-116 BPM.

📺 What to Watch Today

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

Cheers,

Wyatt

*Disclosures: Paid for by Public Investing. Options are not suitable for all investors and carry significant risk. Option investors can rapidly lose the value of their investment in a short period of time and incur permanent loss by expiration date. Certain complex options strategies carry additional risk. Prior to buying or selling an option, investors must read and understand the “​Characteristics and Risks of Standardized Options​”, also known as the options disclosure document. If you are enrolled in Public's Options Order Flow Rebate Program, Public Investing will share 50% of our estimated order flow revenue for each completed options trade as a rebate to help reduce your trading costs. Must activate Options Account by March 31 for revenue share. To learn more, see ​Fee Schedule​. US members only.

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