📈 'AI factory'

Good morning.

The Fast Five → Everything to expect from Fed’s policy meeting, Boeing mulls shedding Airbus work in potential Spirit Aero deal, Nvidia wants enterprise to think ‘AI factory’, Wall St optimism at its highest level since early 2022, and Microsoft taps DeepMind co-founder to spearhead AI push…

Calendar:

• Today: Fed interest-rate decision, 2:00pm ET

  • Fed Chair Powell press conference, 2:30pm ET

• THU 3/21: Jobless claims, 8:30am ET

Your 5-minute briefing for Wednesday, March 20:

BEFORE THE OPEN

PRE-MARKET

MARKETS

• US stocks rose as the Fed kicked off its two-day rate policy meeting

• Japan’s Nikkei 225 index ended slightly higher after the BOJ ended its historic 17-year negative rate regime

• The Yen slid to a four-month low

EARNINGS

• What we're watching this week:

  • Today: Micron, General Mills, Chewy

  • Thursday: FedEx, Nike, Lululemon, Accenture

• Full calendar here

NEWS BRIEFING

Nvidia CEO Wants Enterprise to Think ‘AI Factory,’ Not Data Center

Boeing Mulls Shedding Airbus Work in Potential Spirit Aero Deal

• Everything to expect from the Fed’s policy meeting today (link)

• Wall Street optimism on stocks is at its highest level since early 2022, BofA survey shows (link)

• Wall Street advances with Nvidia and Fed meeting in focus (link)

• Microsoft taps DeepMind co-founder Suleyman to spearhead consumer AI push (link)

• JPMorgan to set up a dedicated sports IB team (link)

• Wall Street bonuses fell 2% to a ~$176k average in 2023 (link)

• Bond traders up short bets on fear Fed will dash rate-cut hopes (link)

• Hedge funds are piling into euro zone's $10T sovereign bond market (link)

• Citigroup has sold most non-US consumer businesses in restructuring progress (link)

• PIMCO says BOJ rate hike puts Japanese bonds back on the map (link)

• Texas schools fund pulled $8.5 from BlackRock over ESG (link)

• PepsiCo to replace Coca-Cola at Subway’s US locations (link)

• Microsoft hired DeepMind's co-founder to lead consumer AI unit (link)

• George Lucas endorsed Disney CEO Bob Iger in proxy fight (link)

• Unilever to spin off ice cream unit and cut 7.5k jobs (link)

CRYPTO

• Goldman Sachs said the crypto rally was driven by retail investors (link)

• MicroStrategy now owns over 1% of all Bitcoin (link)

You Can Sponsor this Newsletter details here.​

BULLISH BITES

🤖 GTC 2024: Key takeaways from Nvidia's annual developer conference.

🎁 Pursuits: MacKenzie Scott donates $640 million to 361 nonprofits.

🚁 Futuristic: This electric aircraft CEO wants you to fly for the price of an Uber.

🏎 Not so tough: Ferrari boss promises ‘emotion’ won’t be lost in EV engine roar.

DAILY SHARES

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