✅ The SEC approves ETH ETFs

📉 Naturally, ETH is down on the news

We’ll take Monday off for Memorial Day. Best wishes to everyone who has lost someone to war — either during the conflict or after — and may their memory be a blessing.

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📰 Market Headlines

  • The SEC greenlit Ether ETFs on the NYSE and Nasdaq, but money manager filings still await approval.

    • The move marks the first step toward trading ether ETFs, potentially bringing them to 401(k)s and IRAs.

    • Ether currently holds a market cap of over $450 billion, making up 18% of crypto's total market value.

  • Nasdaq fell 0.4%, S&P 500 dropped 0.8%, and Dow slid 1.5% in its worst day since March 2023.

  • Mortgage rates dipped below 7% for the first time in over a month.

  • The DOJ sued Live Nation, alleging Ticketmaster abused its industry dominance to harm fans nationwide.

🕶️ Market Vibes

🎰 Market Forecasts and Futures

Forecasts via ​Kalshi​, the prediction market.

The November rate cut odds keep trickling lower.

😱 Fear and Greed Index

🎤 What you said last time

Kalshi has 0 cuts at 29% if you want to put your money where your mouth is.

📈 Trends you need to know

Hey Siri, define “selling the news.”

🧠 What do you think?

💬 Have your say

With BTC ETFs available now and ETH soon:

Login or Subscribe to participate in polls.

📊 Stocks

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

Winners and losers

Earnings, upgrades, and acquisitions

  • Ross Stores beat Q1 earnings estimates; shares jumped 7%.

  • Workday sank 8% despite topping Q1 earnings estimates.

  • Intuit's revenue exceeded forecasts, but shares fell 7% after guiding Q4 EPS below expectations.

  • Deckers Outdoor delivered a 43% EPS jump and 21.2% revenue growth in Q4, sending the stock soaring over 7%.

  • BJ's Wholesale Club jumped 3.37% after exceeding Q1 expectations, reporting a 4.2% growth in revenue.

  • TD Bank rallied 1.6% premarket after reporting fiscal Q2 adjusted EPS, topping estimates.

  • Ralph Lauren posted a 2% rise in Q4 revenue, pushing shares up 3.27%.

Market movers

  • Tesla dropped its goal of delivering 20 million vehicles annually by 2030 from its latest impact report, shifting focus to robotaxis.

  • Spotify has shut down its "Car Thing" devices, sparking customer demands for refunds.

  • NASA announced a new June 1 launch date for Boeing's Starliner astronaut-crewed mission.

  • Cambridge researchers have developed a cement recycling method with nearly net zero emissions.

Ideas, trends, and analysis

  • Weekly jobless claims fell 8,000 to 215,000 and continuing claims rose slightly to 1.794 million.

  • Auto insurance rates have skyrocketed 22.6% from a year ago, the largest annual increase since 1979.

  • Credit card debt delinquencies spiked to a 14-year high of 10.7% in Q1.

🌍 Global Perspectives

  • 🇹🇼 🇨🇳 Taiwan scrambled jets and put missile, naval, and land units on alert as China conducted military exercises around the island.

  • 🇿🇦 South African biotech company Afrigen has collaborated with a Nobel Prize-winning scientist to develop a groundbreaking gene therapy treatment.

  • 🇪🇺 The European Commission fined Oreo-maker Mondelez $366 million for obstructing sales between EU member states.

  • 🇷🇺 Two more Russian officials were arrested in a widening military corruption probe.

  • 🇲🇽 A stage collapsed at an election campaign rally in Mexico, killing nine people and injuring dozens.

📊 Crypto

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🧠 Errata

📺 What to Watch Today

Footage of the billion-dollar treasure ship Colombia is working to recover.

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

Cheers,

Wyatt

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