📈 Cuts incoming

Fed pencils in three rate cuts in 2024, Reddit prices IPO at $34, Intel prepares for $100B spending spree across US, Chipotle announces 50-for-1 stock split, and Neuralink helps paralyzed man play chess with his mind [video]…

Smart Owl
March 21, 2024

Good morning.

The Fast Five → Fed pencils in three rate cuts in 2024, Reddit prices IPO at $34, Intel prepares for $100B spending spree across US, Chipotle announces 50-for-1 stock split, and Neuralink helps paralyzed man play chess with his mind [video]…

Calendar:

Your 5-minute briefing for Thursday, March 21:

As of market close 3/20/2024.

US stocks rallied to all-time closing records after the Fed held rates and maintained expectations for three rate cuts in 2024

Powell says Fed likely to slow asset runoff ‘fairly soon’. Officials lift forecasts for growth, core inflation in 2024.

ECB tries to dampen bets on streak of rate cuts (link)
Investors flock to US medium-term bonds amid policy uncertainty (link)
Union workers are seeing tremendous wealth gains (link)
Big US firms are borrowing at one of the highest levels on record (link)
Intel prepares for $100B spending spree across four US states (link)
Chipotle's 50-for-1 stock split mirrors Walmart (link)
Musk's Neuralink helps paralyzed man play chess with mind (link)
Hindenburg shorted data center firm Equinix (link)
Hedge fund Palliser hired ex-Elliott partner Kasoff (link)
US will bring an antitrust lawsuit against Apple (link)
OpenAI is sprinting to keep up with startups on AI-generated videos (link)
Shein will market its supply-chain technology to global brands (link)
Kering’s Gucci warning wiped $6.8B off market value (link)
Petrobras bondholders left unscathed after $12B equity rout (link)
US dropped out of top 20 happiest countries (link)
Julian Assange and US are exploring a guilty plea to end 14-year legal drama (link)
Glencore's emissions rose ~9% in 2023 (link)
Ireland’s PM Leo Varadkar unexpectedly resigned (link)

Advisers overseeing the wind-down of Celsius Network are demanding customers who collectively withdrew over $2B before it filed bankruptcy to return those funds (link)

You Can Sponsor this Newsletter details here.

💼 Great read: Paul Graham's advice on how to start a company, to 14- and 15-year-olds.

💍 Meet 'Evie': The first wearable... 'smart' ring?.

🤖 Futuristic: Mercedes-Benz will start using humanoid robots to build cars.

👜 Watching: Hermès hit with class action lawsuit over exclusivity of Birkin bags.

No time for puts
— Not Jerome Powell (@alifarhat79)
7:55 PM • Mar 20, 2024

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