What’s Going On, Amazon?

Tale of the Tape

Happy Friday, gang!! You made it! 🥳 🥂 

Stocks were a mixed bag today, but finally found some green before the weekend. 💚

Two of the four major indices finished green. The Nasdaq Composite led the pack with a 0.22% gain. The S&P 500 added 0.09%, building on yesterday’s all-time high. 

The two losers were the Dow (-0.04%) and the Russell 2000 (-0.68%).

Bonds rose today after yesterday’s red hot inflation numbers. 🔥 The US 3-year bond yield jumped 5.38% and the 5-year bond yield hiked 4.05%— investors are betting yields could be raised to fight inflation.

Lumber fell for its 8th straight day. Lumber futures lost 5.61%, but they’re still a ways from losing this year’s gains. 

Natural gas was the strongest commodity, +4.22%.

Crypto was a sea of red but for Bitcoin. $BTC.X boosted 1.77% to 37,347. Overall, crypto fell 0.25%.

Here are the closing prints: 

S&P 5004,247+0.19%
Russell 20002,311+1.06%
Dow Jones34,479+0.04%

I’m Not Lovin’ It

A recent hack against McDonald’s exposed the company’s customer data in South Korea and Taiwan. The hack also exposed international employee data and business information. 😬

After hacks to companies like Colonial Pipeline and JBS, McDonald’s is the latest victim to ransomware. On the bright side, though, it looks like the hack hasn’t disrupted McDonald’s business. 🍔 🍟

$MCD (+1%) investors don’t seem too upset. 

A ‘W’ for Amazon

Amazon has been the center of attention lately. Today, JPMorgan published its report predicting Amazon will become the US’ largest retailer in 2022

JPMorgan’s report called Amazon’s business the “fastest growing at scale.” Analysts estimate Amazon’s gross merchandise volume (GMV) is even growing faster than Walmart, the US’ current largest retailer.

JPM analysts Christopher Horvers and Doug Anmuth shared: 

Based on current estimates, we believe Amazon could surpass Walmart to become the largest U.S. retailer in 2022.

Thanks to the pandemic’s boost to online ordering and Amazon’s expansion into grocery and apparel industries, the e-commerce giant will deliver 1 billion more packages than UPS this year. 

Not bad, Amazon— this is certainly better news for the company than yesterday. 😅 $AMZN closed -0.08%.

Controlling Crypto

“No control and no trust”— cryptocurrency’s recipe for success. But these traits have also made crypto infamously ‘‘too free’’ to regulate. 

A Swish-Danish group, however, will finally launch a  ‘‘regulated crypto.’’ 🙌

The group will establish a new blockchain technology regulated from day one. The cryptocurrency, Global Transaction Unit (GTU), will be listed this summer.

A Saxo Bank A/S founder and a Volvo director developed the new blockchain technology with Denmark’s Aarhus University. Supposedly, GTU will offer transparency that both regulators and the mainstream economy want. 

Here’s the real question— is GTU more like a central bank digital currency? And if it’s regulated, then how is it free? 🤔

Dorsey + Decentralization ❤️ 💍

Twitter CEO Jack Dorsey’s love for Bitcoin is real, and he certainly doesn’t hide his feelings.

To foster his long-term relationship, Dorsey plans to integrate Bitcoin’s Lightning Network into Twitter or BlueSky’s platform. 

The Lightning Network (LN) verifies Bitcoin transactions without blockchain technology. The network saves time and money, allowing more simultaneous transactions. 

On Tuesday, a Twitter user asked the CEO about LN’s status. Dorsey responded it’s “only a matter of time.” 💍

Links That Don’t Suck

💪 Women Near 1/3 of Board Seats at S&P 500 Banks 

🏟️ Ever Wonder How They Restore Arena Seats?

💰 How Bill and Melinda French Gates Are Dividing a $148 Billion Fortune

🎾 The French Government Just Cancelled Their Covid Curfew So Fans Wouldn’t Have To Go Home In The Middle Of This INSANE Nadal Djokovic French Open Match

⚖️ House Bills Seek to Break Up Amazon and Other Big Tech Companies

🍿 Catching Up On Shopify and Their ‘Platform’

🚗 Despite Flat Growth, Ride-Hailing Colossus Didi’s US IPO Could Reach $70B