Reasonable Gun Laws. Background checks! Mandatory insurance.
80% of Americans agree on a lot of things. 10% extremes driving the political conversation and divisiveness.
Elon Musk just said this again that if he owned Twitter 80% would like it, but 10% extreme left and right would complain vehemently.
Economy and Markets:
Huge rally this week: Stocks up 4% in 4 days.
- Layoffs at PayPal, Netflix, Robinhood and Bolt (one click startup payment company)
- Hiring Freeze/slowing at Meta, Uber, Coinbase, Microsoft, Nvidia.
- I have not traded on Coinbase in 2 months.
Fed minutes indicated will still increase 0.5% in June and July. But then open to “wait and see”.
Housing market:
- Mortgage rates up: 2.5% to 5%+
- Home Sales are down Jan to April. 6.5m to 5.6. 15% down. Spring/summer should be up!?
- Single family starts lowest since Oct 2021.
- Mortgage purchase applications slowest since May 2020.
- Homebuilder sentiment lowest since June 2020.
Energy:
- Gasoline up 80%.
Crypto is not a hedge:
- Crypto market cap has fallen from $2.3t to 1.3t.
- $4.5b fund at Andreeson Horowitz. A16z
- My Luna is $0.
- BTC. Down 56%
- ETH. Down 60%.
- DCA in still recommended.
Apple holding up well in the News.
- $144, down 21% YtD. was down 25%
- Flat iPhone sales. 220m, same as 2021. Expected 240.
- Tormer Tesla Autopilot software engineer who left to join Apple’s secretive car project last year, has left Apple to join Luminar.
- Lidar vs. AI real cameras. Tesla showing different types of cars, doors open, garbage cans, cones, traffic lights…insane!
Tesla:
- Diner. Submitted plans for a Tesla diner as part of charging station in Hollwood.
- 3700 charging stations globally.
- Elon committed to buying Twitter.
Netflix:
Netflix Games suck.
- Stranger Things. Can it have a Squid Game effect? Its been 3 years and only show streamed/seen more was final episode of GoT.
In Closing:
- Ricky Gervais on Netflix.
- Tesla Charger competition
