Take the ride of a lifetime with Commonwealth 🏇

Winners of the 2023 Kentucky Derby 🏆

​Commonwealth​ is a unique company that lets you invest in the career of racehorses.

Joining Commonwealth is about more than just sharing winnings — it's about experiencing the thrill of trackside celebration live alongside other investors while enjoying gourmet cuisine & fine wines.

Ownership perks

• Stay connected to the action — exclusive updates & content

• Get invites to racing related experiences: auction events, stable tours, and more

• Opportunities to meet the horse, trainer, or jockey

• Join in the winner's circle if your horse wins (when available)

Disclosure: This is not an offer or solicitation to invest. No funds will be accepted if sent in response. Investing in Reg CF offerings and racehorses involves significant risks, including the potential loss of your entire investment. The securities are not registered with the SEC or state authorities and are being offered under an exemption from registration. Please review all offering materials on ​app.joincommonwealth.com​ before investing in any offering.

📰 Market Headlines

Markets plunged yesterday as recession fears grew and tariff uncertainty loomed, with the Nasdaq seeing its worst day since 2022.

• The S&P 500 shed 2.7%, while the Nasdaq tumbled 4%, and the Dow dropped 2.08%.

• The S&P 500 lost $4 trillion in market value from last month’s peak.

Tesla plunged 15% for its worst day since 2020 as Elon Musk admitted running his businesses with "great difficulty" while leading a government agency.

UAW President Shawn Fain backed President Trump’s tariffs, calling them key to fixing job losses despite previously criticizing him.

HSBC downgraded US stocks and turned bullish on Europe.

🚬 Alternative investing news

Marlboro owner Philip Morris International is considering a potential sale of its cigar business in the US as the company continues to shift towards its smoke-free products.

The tobacco maker is looking for over $1 billion for its cigar unit.

The US cigar market as a whole has been gently burning down, with sales down ~23% in 2023 relative to the pandemic-high of 2021.

However, fine cigars can still make a great alternative asset.

 📊 Ideas, trends, and analysis

• In February, US stock mutual funds and ETFs fell 2.9%, while international funds rose 2.2%

🧠 Make yourself heard

This week’s polls will focus on international investing.

Recent market dynamics, including heightened volatility in U.S. markets and geopolitical uncertainties, have prompted a shift from from US stocks to international equities.

This shift is also evident in fund flows. International-stock funds have started to outperform US-focused funds, reversing a longstanding trend.

😱 Fear and Greed Index

📊 Winners and losers

Earnings

• Oracle missed Q3 revenue estimates but projected 15% growth next year, pushing shares up 2%.

• Vail Resorts beat Q2 earnings, despite 2.5% lower skier visits; shares climbed 6.62%.

Market movers

• Wells Fargo sued JPMorgan, alleging it ignored fraud in a $481 million real estate loan.

• IBM won a UK lawsuit against LzLabs over stolen mainframe tech, protecting billions in investment.

• Ford pledged up to $4.8 billion to its struggling German unit as Europe’s auto sector faced high costs and weak demand.

• Mass General Brigham cut 1,500 jobs in a second layoff round to save $200 million amid financial struggles.

🎤 What you said last time

📺 What to Watch Today