📈 The new dream car?

AT&T discloses leak of 73 million accounts to dark web, Xiaomi releases electric 'dream car' to take on Tesla, consumer sentiment climbs to 2 ½-year high, China factory activity expands for first time in 6 months, Tupperware warns close to going out of business after 77 years…

Author

Smart Owl
April 01, 2024

Good morning.

The Fast Five → AT&T discloses leak of 73 million accounts to dark web, Xiaomi releases electric 'dream car' to take on Tesla, consumer sentiment climbs to 2 ½-year high, China factory activity expands for first time in 6 months, Tupperware warns close to going out of business after 77 years…

Calendar: (all times ET)

  • TUE 4/2: Job openings, 10am

  • WED 4/3: Fed Chair Powell, 10am

  • THU 4/4: Jobless claims, 8:30am

  • FRI 4/5: Unemployment rate, 8:30am

Your 5-minute briefing for Monday, April 1:

BEFORE THE OPEN

As of market close 3/28/2024. Bitcoin as of 3/31/2024.

PRE-MARKET

MARKETS

  • US stock and bond markets were closed on Friday in observance of Easter

  • The S&P and Dow rose to fresh ATHs on Thursday as investors digested unsurprising inflation data

  • The S&P and Dow had their best Q1 since 2019 and 2021 respectively

  • M7 stocks made up 37% of the S&P's Q1 gain, down from ~67% in 2023

  • Copper’s forward spread is at its widest ever as traders bet on higher prices

EARNINGS

  • What we're watching this week:

    • Tuesday: Dave & Buster’s

    • Wednesday: Levi’s

    • Thursday: Lamb Weston

  • Full calendar here

NEWS BRIEFING

The data set includes personal information such as Social Security numbers and email addresses

Xiaomi formally launched its much-anticipated electric car — the new Speed Ultra 7 (SU7) sedan — on Thursday night in Beijing.

  • Consumer sentiment climbs to 2½ yr high as inflation eases (link)

  • McKinsey is paying staff to leave (link)

  • Bridgewater CEO's turnaround hinges on wooing restless clients (link)

  • Global M&A picked up 30% in Q1 after flurry of large deals (link)

  • Zuckerberg is personally emailing engineers to join Meta (link)

  • UBS flags CRE as top risk (link)

  • China factory activity expands for first time in six months (link)

  • Private credit talent war is heating up (link)

  • US consumer sentiment hit a three-year high (link)

  • Billions flood active ETFs in hunt for cheap developing stocks (link)

  • CalPERS backed activist Nelson Peltz in Disney board battle (link)

  • Walgreens took a $5.8B hit on VillageMD bet (link)

  • UBS CEO Ermotti made $16M in 2023 (link)

  • 42% of Citi energy clients lack climate transition plans (link)

  • Tesla dives into advertising after years of resistance (link)

  • US tech giants shun China for Mexico to make AI goods (link)

  • Harvard applications fell by 5% while other Ivies soar (link)

  • Tupperware warns it could go out of business over liquidity problems (link)

CRYPTO

  • SBF was sentenced to 25 years in prison with no option for parole (link)

You Can Sponsor this Newsletter details here.​

BULLISH BITES

🚘 Stealth mode: Hyundai and Kia are quietly taking over America's driveways.

🇨🇳 Inside look: How Xi Jinping plans to overtake America.

🍦 Ben & Jerry’s or Haagen-Dazs? Investors are spoiled for choice as food giants put their ice-cream units up for sale.

💍 New beginning: With this ring, I unwed. "Divorce Rings" are having a moment.

DAILY SHARES

Keep the curation going! Buy the team a coffee ☕️