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Market News
New media giant
Wall Street braces for key inflation report, Disney and Mukesh Ambani create new India media giant, Tim Cook says Apple will ‘break new ground’ in GenAI this year, Google CEO tells employees Gemini AI blunder ‘completely unacceptable’, and Wendy’s says ‘dynamic’ pricing won’t tack surge pricing to your nuggets…
Apple kills car
Apple cancels decadelong work on electric car, BlackRock ETF hits ‘insane’ volume as Bitcoin passes $57K, Wendy’s plans Uber-style ‘surge pricing’ to fluctuate based on demand, Macy’s to close 150 stores, and American’s spend largest share of income on food in 3 decades…
Historic landing
Odysseus becomes first US spacecraft to land on moon in over 50 years, Reddit files to list IPO after two years on sidelines, SEC filing shows Sam Altman is Reddit's third-largest shareholder, Goldman pushes back bet on interest-rate cut to June, and Nvidia fires up AI mania…
ESG backlash
JPMorgan Chase, BlackRock drop out of UN climate alliance, Rubio urges SEC to block Shein IPO on conditions, House won’t pass stopgap to avoid shutdown, Bezos sells more than $2B in Amazon stock for third time this month, and younger generations gained more wealth than older groups since 2019…
A $1.3B typo
Wall Street falls as hot inflation data dampens early rate-cut hopes, House Republicans impeach Homeland Security Secretary Mayorkas, Nvidia is now worth more than Amazon, Bezos sells $4B of Amazon stock over four days, and Lyft issues a massive correction to its outlook for earnings margin in 2024…