Here’s what we’re getting into today…

Enjoy the next 4 minutes and 15 seconds of blue-chip news and commentary.

Keep on snapping necks and cashing checks,

- tyler

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+ US stocks “ripped higher Monday, recovering their footing after a tough week, as tech shares rebounded and tensions in the Middle East dimmed. Traders also looked ahead to the release of major earnings.” (CNBC)

+ The 10-year Treasury yield “were little changed on Monday as investors looked to economic data in the week ahead that could provide fresh hints about the state of the economy and the outlook for interest rates." (CNBC)

+ Oil “settled slightly higher on Friday, but posted a weekly decline, after Iran played down a reported Israeli attack on its soil, a sign that an escalation of hostilities in the Middle East might be avoided.” (Reuters)

+ Bitcoin “is back above $66,000 just days after the halving, suggesting that the drawdown period for BTC price may be over.” (Cointelegraph)

+ The three most talked about stocks on WallStreetBets in the past 24 hours were: 1) Tesla -3.4% 2) Nvidia +4.3% 3) Super Micro Computer +0.4%

The market moves you need to know about…

– Tesla fell another 3.4% after announcing price cuts in China on Sunday. Friendly reminder: it slashed prices for most models by $2k in the US on Friday.

+ Nothing to see here. Matterport mooned 175.8% yesterday. CoStar Group, which owns Homes.com and Apartments.com, bought the “spatial data company” (read: they create 3D floor plans) for $1.6B.

– Shares of Informatica tanked 10.5% on Monday after it said that rumors about a takeover bid from Salesforce were false.

The NYSE looked at Robinhood’s 24/7 trading and said, “hell yeah.”

The FT reported that the NYSE is polling market participants about potentially expanding its hours to… ALWAYS. That’s right, 24/7 trading. Or at least 24 hours on weekdays. The survey asked which they prefer.

The questionnaire also gathered insight into how they think investors should be protected during volatility (which tends to happen when there is less liquidity).

In case you’ve been living under a f*cking rock, you can trade equities on the New York Stock Exchange between 9:30 AM and 4 PM EST, typically.

Of course, there is pre-market trading starting at 4 AM (presumably while you’re doing your cold plunge) and post-market trading, but volume is light af.

An idea so crazy it might just work

This isn’t exactly a novel idea, of course…

Crypto and stock futures trade around the clock.

And that popularity has prompted some brokers, like Robinhood, to offer 24-hour trading on weekdays. Probably because they know weekends are reserved for sports gambling…

Hard pass

There’s at least one person who’s really hoping the NYSE doesn’t make it official. Mets’ owner and Point72 founder Steve Cohen (probably) hates this idea…

That’s because he’s invested millions in the 24 Exchange, a, well, you guessed it… 24-hour stock exchange seeking SEC approval.

+ In arguably the least surprising news of the past 24 hours, the FTC has sued to block Tapestry’s (-0.7%) $8.5B acquisition of Capri (-1.4%). For those of you who don’t use winter as a verb, Tapestry is the maker of Coach, and Capri owns Michael Kors and other brands.

The Federal Trade Commish claims that the deal would give the handbag makers too much control over the luxury market. Of course, French luxury holding company LVMH does nearly 9x the sales of the two companies combined…

The antitrust regulators have been busy lately, suing everyone with a pulse and the mere thought of getting their M&A on.

Like Kroger and Albertsons, which the FTC sued in February. Yesterday, the two supermarket chains tossed up a Hail Mary in hopes of saving the $25B deal. They agreed to sell another 166 stores.

+ Ok, now do GameStop…

An American shopping mall staple is on the ropes. Clothing retailer Express (+18.5%) has filed for Chapter 11 bankruptcy. The company plans to close about 100 of its approximately 500 locations.

Where did Express go wrong? You mean other than tying its fortune to malls in 2024? The company cited slowing consumer demand and price sensitivity.

+ Why bid on current sports rights when you can just create new inventory?

Apple (+0.5%) and FIFA are playing chess, while the rest of us are playing checkers. Apple is closing in on a deal valued at ~$1B for the exclusive rights to a new “World Cup-like” tournament that will take place in the US next year (friendly reminder: the US will host the World Cup in 2026).

+ Once again, the Americans have handed the Germans a major defeat…

4,300 VW (-0.4%) workers in Tennessee voted (spoiler: it was a landslide) to join the United Auto Workers. If that sounds familiar, it’s because it’s the union that represents a sh*t ton of American car manufacturers’ employees.

After scoring major W’s for the factory workers at Ford, GM, and Stellantis last year, the UAW is making a big push for some of the major carmakers that haven’t unionized. Like VW, BMW, Toyota, and even Tesla…

+ Zuck took to IG to tell the world that he would make the Meta (+0.14%) Horizon VR/AR headset operating system open source. That means third parties can use the ‘books’ software on their own headsets. And I’m sure there are like 3 nerds out there who are really, really stoked.

+ Couple grew their basement side hustle into a business bringing in $4.5M/year: We’d ‘never seen anything like that in a bank account’ (Read)

+ They Say Drugs Make Them Better at Their Jobs. Are They Tripping? (Read)

+ Smart ways to shop for used EVs, which now cost half as much as they did in 2022 (Read)

Yesterday, I was keeping an eye on Verizon’s earnings. Here’s how they did…

+ Verizon (-4.6%) missed on the top line yesterday. On the bright side, it lost fewer post-paid phone connections than expected.

Here's what I'm keeping an eye on today...

+ PepsiCo, Philip Morris, UPS, Lockheed Martin, General Motors, JetBlue, and Spotify report tomorrow AM

+ Visa, Tesla, Texas Instruments, and Mattel report after the close… and may god have mercy on Elon’s soul

Yesterday I asked… Should TikTok be sold/banned?

61.4% of you think so.

Here’s today’s question…

Oh, and…

Does this look like the face of a guy you should take financial advice from?

No, it’s the face of an individual who is financially irresponsible/dumb enough to be talked into spending money on a family photo shoot that he could have just done with his iPhone. So, act accordingly...

This is not financial advice. Nothing in this newsletter is an investment recommendation. All content is created for entertainment, educational, or informational purposes only. Do your own research, or do yourself a favor and hire a professional