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*past 24-hour performance Markets loved how boring the Fed's meeting was, and stocks climbed to new records with the S&P 500 closing above the 5,200 mark for the first time. The Federal Reserve held interest rates steady, maintaining its forecast for three rate cuts in 2024. Feds left interest rates unchanged and released quarterly economic projections expecting 2.1% economic growth this year. The central bank's dot plot signaled a peak fed rate of 4.6%, with three cuts of 0.25 percentage points each. "[Price pressures remained] elevated, but haven't really changed the overall story, which is that of inflation moving down gradually on a sometimes bumpy road to 2%," said Powell. Bitcoin had its worst single-day drop since FTX blew up in 2022 and fell more than 8% down under 62,00 before yo-yo-ing back up to a respectable $67k. Intel announced a $100 billion investment in U.S. chip manufacturing to build the world's largest AI chip site in Ohio by 2027. 🕶️ Market Vibes 🎰 Forecasts and Futures Forecasts via Kalshi, the prediction market. There were big moves on the June rate cut market as the Fed indicated it's still on track for three cuts this year. 😱 Fear and Greed Index What do you think? Markets are convinced again that a rate cut is coming in June. Are they right? 👍 Yes, rate cuts are coming
👎 No, higher for longer means higher for longer 🎤 What you said last time You're a gloomy bunch. 📈 Trends you need to know For those of you who think 5% is high. 📊 Stocks Want to invest like Buffet? With Public.com, you can emulate Berkshire Hathaway’s portfolio with just a few clicks. Winners and losers Earnings, upgrades, and acquisitions Micron shares soared 17.5% after announcing excellent guidance driven by strong demand for AI memory. Apollo Global offered $11 billion to acquire Paramount Pictures and Paramount TV studios, causing Paramount Global shares to surge 11.8%. Five Below shares sank 12% after reporting Q4 earnings below expectations. Chewy reported Q4 net sales of $2.83 billion, a 4.2% increase year-over-year; shares rose 6%. PDD Holdings reported sales doubled year-over-year, causing a stock gain of 3.5%. Signet Jewelers shares plunged over 10% after announcing a 6.3% drop in revenue. KB Home shares traded up by approximately 2.18% following Q1 earnings report beating estimates by 12.10%. Guess? shares leaped 2.89% following Q4 earnings and revenue report. Market movers Kering's Gucci faced a 20% sales drop in Q1, destroying $6.8 billion in market value. Ryanair's CEO met with Boeing to discuss plane delays and certification issues. [Ed: I would have loved to be a fly on the wall of that meeting ] Topgolf Callaway denied reports of exploring a sale of its golf equipment arm. Chipotle's stock split announcement caused a share price increase of 8%. Microsoft poached Inflection AI and former Deepmind founder Mustafa Suleyman to head up a new Copilot division. Ideas, trends, and analysis Two healthcare gems that have potential upsides of 30% to 45%. 92% of marketers are already using AI-generated content. [Ed: the other 8% are getting fired this year ] Spotify's remarkable growth beat much of the 'Magnificent Seven' with a 222% increase since 2023. Stock splits are on the horizon for Broadcom, Deckers Outdoor, and Nvidia. 🌍 Global perspectives 🇺🇸🇮🇱🇪🇬 The US will suggest a Gaza-Egypt border security plan to Israel as an alternative to a Rafah offensive. 🇻🇳 Vietnam's President resigned after only a year. 🇮🇳 Delhi was named the most polluted capital in the world. 🇨🇳🇭🇰 China defended the new Hong Kong national security law against international criticism. 🇨🇺 In Cuba, protests erupted over food and electricity shortages. 🇪🇺 The EU proposed capping duty-free imports of certain Ukrainian agricultural products in a concession to protesting European farmers. 💵 Income Check out these blue-chip bargains that offer dividends of over 7%. This eREIT has an above-average 5.73% yield. JPMorgan celebrated record profits with a 9.5% dividend hike. ⚡ Crypto The SEC launched a probe into Ethereum, diminishing hopes for an Ethereum ETF. Bitcoin's halving event is a mixed bag for Bitcoin miners. Japan's Government Pension Fund began exploring Bitcoin for future investments. Three altcoins that are ready to race up. 🧠 Errata Rescuers saved 13 Russian gold miners trapped 120 meters underground. Depressed youth dragged the U.S. down eight spots in the world's happiest countries, lagging behind Canada, Israel, and others. In contrast, Portugal and Greece were deemed the happiest places for Gen Z youth. A ghost shark with a massive head and iridescent eyes was discovered off Thailand. [Ed: WTF ] Some of China's hospitals have stopped newborn deliveries as the nation grapples with declining birth rates. 📺 What to watch today French Navy Helicopter shoots down Houthi drone in Red Sea That’s all for today. Did I miss anything? Smash the reply button to let me know. Cheers,
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