📈 New whistleblower

CPI report today expected to show little progress against inflation, Google unveils custom Arm-based chips, small-business sentiment slides to 11-year low, gold hits another record awaiting inflation print, and Boeing hit with new whistleblower allegations…

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Smart Owl
April 10, 2024

Good morning.

The Fast Five → CPI report today expected to show little progress against inflation, Google unveils custom Arm-based chips, small-business sentiment slides to 11-year low, gold hits another record awaiting inflation print, and Boeing hit with new whistleblower allegations…

Calendar: (all times ET)

  • Today: 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 Wednesday, April 10:

BEFORE THE OPEN

As of market close 4/9/2024.

PRE-MARKET

MARKETS

  • US stocks ended mostly flat yesterday as investors awaited today’s CPI report

  • Extent of short US Treasuries bets may leave traders squeezed

  • Europe's Stoxx 600 fell 0.6% dragged down by defense stocks

  • Canada's TSX index extended its record run on surging gold prices and mining stocks

  • Short bets on Canadian dollar are at highest in a year

EARNINGS

  • What we're watching this week:

    • Today: Delta Air Lines

    • Thursday: Constellation Brands

    • Friday: JPMorgan, Wells Fargo, BlackRock, Citigroup, Progressive

  • Full calendar here

NEWS BRIEFING

At its Cloud Next conference in Las Vegas on Tuesday, the company said the new processor will become available later in 2024.

A quarter of all respondents cited inflation, and in particular higher input and labor costs, as their most pressing issue.

  • CPI report today expected to show little progress against inflation (link)

  • 10-year Treasury yield falls as investors await inflation data (link)

  • Gold hits another record as investors await US inflation print (link)

  • Wall St rises on easing bond yields, inflation numbers on tap (link)

  • Tesla investors brace for potential back-to-back sales decline (link)

  • NYSE exec says ‘handful’ of AI startups are exploring IPOs (link)

  • Boeing hit with new whistleblower allegations, adding to safety concerns (link)

  • Global VC funding dropped 30% in Q1 (link)

  • Trader places biggest-ever bet on SOFR futures (link)

  • US small-business sentiment slid to lowest level in over 11 years (link)

  • JPMorgan, BlackRock among BLS economist’s CPI ‘super users’ (link)

  • Gold bars are 'a cash cow' for Costco (link)

  • Traders grow increasingly bullish on oil (link)

  • Global steel demand is expected to return to growth this year (link)

  • Intel unveiled latest AI chip as Nvidia competition heats up (link)

  • Comcast sold $1.2B in ads for Paris Olympics (link)

  • Carnival puts Miami HQ for sale as Florida real estate soars (link)

  • Salt Lake City was the hottest job market in 2023 (link)

CRYPTO

  • One-third of consumers believe Bitcoin will fall below $20k by year-end (link)

  • $102M shorts liquidated as Bitcoin price surpassed $72K (link)

  • Bitcoin could slump around reward halving time, Arthur Hayes says (link)

  • After Bitcoin surge, crypto VC creeps toward a comeback (link)

You Can Sponsor this Newsletter details here.​

BULLISH BITES

⚾️ Pursuits: Popular YouTube channel Dude Perfect scores more than $100M investment.

🏡 Boomtown: The US has a record number of cities where $1 million homes are ‘typical'.

🏞 Rivalry: TikTok’s competing with Instagram with TikTok Notes.

⌚️ Inside look: What's hot at Watches and Wonders 2024.

DAILY SHARES

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