Tale of the Tape

Good evening, y’all!!

The markets tumbled on Tuesday— every major index stumbled ~0.65%.

Real estate and healthcare barely finished higher. Energy pulled back 2.4%. Industrials, financials, basic materials, and communication services all lost at least 1%. 💔

The US Dollar dropped 0.46% to settle at its lowest level since January 6th. Here’s the wild weekly chart: 

Crypto was quiet. 😴 Bitcoin bopped between 45K and 42K. Ethereum remained around 3,400. 

Emerging markets marched 1.34%. 🥁 Did $EEM find support at former highs?? Time will tell… 

Here’s the $EEM monthly chart:

Walmart gapped up and gained 2% after its early morning earnings. Read the round-up below. 

CVS surged 4.8% and closed at its highest price since 10.14.16. The stock has rallied 12% since its May 4 earnings report.

Tesla turned up 0.20%. Where will Elon’s EV maker move next?? 🔋 Place your bets… 

Here are the closing prints:

S&P 500	4,127	-0.85%
Nasdaq	13,303	-0.56%
Russell 2000	2,210	-0.73%
Dow Jones	34,060	-0.78%

Attention Teen Investors!!

Attention parents and young investors— Fidelity just launched its Fidelity Youth Account for teens ages 13-17!! 

Fidelity’s Youth Account is the first brokerage account ever designed specifically for teenagers. It’s intended to teach kids saving, spending, and (responsible) investing.  

Parents can oversee the account, but that’s just one of its perks. Fidelity’s youth account has no subscription fees, zero account fees, zero minimum balances, zero domestic ATM fees, and zero online commissions. 🥳

Fidelity’s senior VP of acquisition and loyalty, Jennifer Samalis, said: 

Fidelity is committed to responsibly supporting young investors. Importantly, our goal for the Fidelity Youth Account is to encourage young Americans to learn through action and foster meaningful family conversations around financial topics. Designed alongside teens and parents, the account is charting a new course by providing the ability for teens to build healthy money habits through learning by doing.

Here’s Fidelity’s press release with more info. 

Another Day, Another NFT

Annd another celebrity has hopped aboard the NFT train. 🚂

Celebrities are loving the NFT craze, and Emily Ratajkowski is certainly no exception. The American model and actress just sold her photograph in NFT form for $140,000 ($175,000 after fees). 😱

Why’d she do it? To reclaim her image by selling a personal photograph at Christie’s auction house. The NFT, called “Buying Myself Back: A Model for Redistribution,” depicts Ratajkowski in front of her own famous photographs from a 2014 Sports Illustrated shoot. It’s another NFT of an NFT of an NFT kind of situation. 

Kind of a clever business model. 😅 Bravo, Ratajkowski! 

Earnings Round-Up

Walmart reported Q1 earnings before the bell today. The retail giant beat on top and bottom lines, and e-commerce sales rose 37% in the US.

Here are the stats:

EPS: $1.69 vs $1.21 est.
Revenue: $138.2B, +3% YoY

Doug McMillon, Walmart’s CEO, said:

This was a strong quarter. Every segment performed well, and we’re encouraged by traffic and grocery market share trends. Our optimism is higher than it was at the beginning of the year. In the U.S., customers clearly want to get out and shop. We have a strong position as our store environment improves and e-commerce continues to grow. 

$WMT gained 2.2% today. 

Home Depot smashed earnings expectations early Tuesday morning. 🔨 $HD commented on booming upgrades and manufacturing thanks to the increasing prices of raw materials like lumber and steel. 

Here are the numbers:

EPS: $3.86 vs $2.98 est.
Revenue: $37.5B, +33% YoY

Home Depot CEO Craig Menear said:

Fiscal 2021 is off to a strong start as we continue to build on the momentum from our strategic investments and effectively manage the unprecedented demand for home improvement projects.

$HD fell 1%.

Sea Limited missed on earnings expectations, but the stock still rallied. 💪 Garena, Sea’s digital entertainment division, grew revenue 117% YoY and its e-commerce sales by 250%.

Here are the details:

EPS: ($0.62) vs ($0.46) est.
Revenue: $1.8B, +147% YoY

$SE spiked 4.2%.

Crypto’s Clever Move

FTX CEO Sam Bankman-Fried and chess world champion Magnus Carlsen just joined hands for a long-term deal. 

Chess and crypto? Talk about a power duo. ♟💰

Thanks to the Magnus deal, FTX will become the official crypto exchange partner of the Meltwater Champions Chess Tour. FTX will also be a presenting partner of the FTX Crypto Cup (May 23 to May 31).

The move comes as FTX seeks non-crypto-related platforms and opportunities— the exchange will even sponsor a $100,000 bonus prize (in Bitcoin, ofc) for the chess cup. And a few weeks ago, FTX partnered with the Miami Heat. 👏

Well played, FTX. 

Ford’s F-150 EV Reveal

Ford revealed its F-150 EV pick-up ahead of schedule… and our President gave it a test run. 😅 🇺🇸

The F-150 Lightning was in the background of President Biden’s speech at Ford’s Rouge EV Center in Michigan. The EV looks similar to the truck’s current gas and hybrid models, though it features a new light bar stretching its grille. Rumor has it the car will also probably have a portrait touchscreen like the Mustang Mach-E. 

During his speech on Tuesday, President Biden commented “The future of the auto industry is electric. There’s no turning back.” Our President also got the chance to test out an F-150 Lightning— he said:

This sucker’s quick. 

Here’s President Biden test driving the new F-150 EV. He was cruisin’. 😎 🚗 💨

Earnings This Week

Be sure to know when your stocks report earnings. Here’s the earnings calendar.

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