📈 New weapon

Good morning.

The Fast Five → Market faces most crucial inflation reading of 2024, Crypto is Trump’s new weapon, Apple store workers vote to authorize strike, Americans are racking up ‘phantom debt’, and OpenAI to announce Google search competitor today…

Calendar: (all times ET)

• TUE, 5/14: Producer price index (PPI), 8:30a

  • Fed Chair Powell speaks, 10:00a

• WED, 5/15: Consumer price index (CPI), 8:30a

  • US retail sales, 10:00a

• THU, 5/16: Initial jobless claims, 8:30a

Your 5-minute briefing for Monday, May 13:

BEFORE THE OPEN

PRE-MARKET

MARKETS

• US stocks ended mostly flat on Friday as investors digested consumer inflation expectations data

• The S&P and Nasdaq posted a third-straight winning week

• The Dow rose for an eighth-straight day, fourth-straight week and best week YTD

• The pan-European Stoxx 600 had its best week since late-January

• UK's FTSE 100 hit yet another record high

EARNINGS

• What we're watching this week:

  • Tuesday: Home Depot, Alibaba

  • Wednesday: Cisco Systems

  • Thursday: Walmart, JD.com

• Full calendar here

NEWS BRIEFING

Crypto is Trump’s New Weapon Against Biden

Apple's Maryland Store Workers Vote to Authorize Strike

• Market’s near-record rally faces most crucial inflation reading of 2024 (link)

• Fed's Logan said US monetary policy may not be tight enough (link)

• CFTC wants to ban derivatives tied to sports and elections (link)

• Europe sees two-speed IPO recovery as smaller deals lag (link)

• Covid-era jobs switchers are less satisfied now (link)

• Chinese VCs warn IPO freeze will hit innovation (link)

• Chinese e-commerce giants face delicate balance between discounts, profit (link)

• Americans racking up ‘phantom debt’ Wall Street can’t track (link)

• OpenAI to announce Google search competitor today (link)

• US consumer sentiment at six-month low as inflation expectations rise (link)

• US equity funds see first weekly inflows in six weeks (link)

• Global equity funds see biggest inflows since March (link)

• Investors with links to China are now funding US defense startups (link)

• Electricity supply is failing to satisfy US tech growth (link)

• US judge halts rule capping credit card late fees at $8 (link)

• Food startup boom is seemingly over (link)

• Chicken wings are the new inflation hedge (link)

• Caitlin Clark is already the GOAT of TV ratings (link)

• Hedge fund legend Jim Simons died at 86 (link)

CRYPTO

• Crypto VCs are turning back to crypto startups founded by professors (link)

You Can Sponsor this Newsletter details here.​

BULLISH BITES

💎 HODL: @RoaringKitty is back, apes.

📉 Hit hard: VC fund performance is down sharply — has it already hit its lowest point?

🎲 Blowback: Miss the latest All-In podcast with Sam Altman? The gold is in the comments.

💫 Heavenly: Spectacular displays of the aurora borealis in photos from around the globe.

DAILY SHARES

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