📈 Border boon?

Border crisis might be a boon for the economy, US and China need ‘tough’ conversations Yellen tells Li, Southwest Boeing 737 engine cover falls off prompting investigation, gold retreats, and Elon Musk claims Reuters is ‘lying’ over report Tesla scrapping plans for low-cost EV…

Author

Smart Owl
April 08, 2024

Good morning.

The Fast Five → Border crisis might be a boon for the economy, US and China need ‘tough’ conversations Yellen tells Li, Southwest Boeing 737 engine cover falls off prompting investigation, gold retreats, and Elon Musk claims Reuters is ‘lying’ over report Tesla scrapping plans for low-cost EV…

Calendar: (all times ET)

  • WED 4/10: Consumer Price Index (CPI), 8:30am

  • THU 4/11: Producer Price Index (PPI), 8:30am

    • Jobless Claims, 8:30am

  • FRI 4/12: Consumer Sentiment, 10:00am

Your 5-minute briefing for Monday, April 8:

BEFORE THE OPEN

As of market close 4/5/2024. Bitcoin as of 4/7/2024.

PRE-MARKET

MARKETS

  • US stocks rebounded on Friday as investors digested a stronger-than-expected jobs report

  • All three major US indexes ended the week in red, with the Nasdaq falling for a fourth week in five and Dow having its worst week YTD

  • Natural gas prices turned negative in Texas

  • This week, we'll receive crucial US inflation data and rate policy decisions from BoC and ECB

EARNINGS

  • What we're watching this week:

    • Wednesday: Delta Air Lines

    • Thursday: Constellation Brands

    • Friday: JPMorgan, Wells Fargo, Citigroup, BlackRock

  • Full calendar here

NEWS BRIEFING

The daily march of migrants across the Southern border has been a political curse for President Joe Biden. But for the economy, it may have turned out to be a blessing.

An engine cover on a Southwest Airlines (LUV.N), opens new tab Boeing 737-800 fell off on Sunday during takeoff in Denver and struck the wing flap.

  • US and China need ‘tough’ conversations, Yellen tells Chinese Premier Li (link)

  • Gold retreats as robust US data dampen rate cut expectations (link)

  • Strong US job market is in a ‘sweet spot,’ economists say (link)

  • Fearless stock bulls start hedging as Fed policy pivot stalls (link)

  • Wall Street hunts AI winners beyond Nvidia in emerging markets (link)

  • Apple asks US appeals court to reverse Apple Watch import ban (link)

  • Elon Musk claims Reuters is ‘lying’ over report Tesla will scrap plans for low-cost EV (link)

  • Serena Williams’ VC fund includes 14 unicorns (link)

  • Big tech has a big cash problem (link)

  • Tech stock inflows in Q1 were the third largest on record (link)

  • Global equity funds see outflows amid rate cut timing uncertainty (link)

  • PIMCO now expects two 2024 rate cuts (link)

  • Investors are unwinding 'buy India, sell China' stocks trade (link)

  • HSBC seeks to expand wealth business in China and India (link)

  • Musk defies Brazil order to block some X accounts (link)

  • RBC fired its CFO over undisclosed relationship (link)

  • ISS urged BofA to split CEO and chairman roles (link)

  • Morgan Stanley boosted executive pay by 13% (link)

  • UNIQLO is aiming for a US comeback (link)

  • PBOC to lend $69B to boost science and technology sectors (link)

CRYPTO

  • Terraform Labs and co-founder Do Kwon were found liable for fraud over the firm’s 2022 collapse (link)

  • Pantera Capital’s crypto fund surged 66% in Q1 (link)

You Can Sponsor this Newsletter details here.​

BULLISH BITES

🌘 Total eclipse: The Daily Show correspondents debate which is more important to the eclipse - the sun or the moon.

📈 Next-level: The Sheikh who dominates one of the world's hottest stock markets.

🏠 Forecast: Dave Ramsey predicts what's in store for the housing market again after saying he got it right 2 years ago.

🚢 Season pass: Richard Branson’s cruise line launches four-week cruise for remote workers.

DAILY SHARES

Keep the curation going! Buy the team a coffee ☕️