TOGETHER WITH
Hey there weekday warrior,
Here’s what’s on tap today… the boys (all of them) are in China, CPI and PPI just ruined our rate cut plans, and Cerebras ripped like few have ever ripped in their IPO.
Enjoy the next 3 minutes and 51 seconds of blue-chip news and commentary.
Keep on snapping necks and cashing checks,
PS… in case you missed the update, we are making some moves this Summer. Expect twice-weekly TWC for a bit.
PPS… thanks in advance for doing your part in keeping TWC free and independent (read: clicking and checking out our advertising partners daily).
Power trip
In case you didn’t hear, Donny Diplomacy is on a mission in the People’s Republic. And he brought some heavy hitters with him to kick off a multi-day summit that is giving major ‘Mountainhead’ vibes…
Our Ex-VP Elon, Jensen Huang Kenobi, and Tim Apple top the list of VIPs in DJT’s boy band for the weekend, which, that’s a whole lotta market cap in one room…
So what’s on the menu? Trade, AI, security, tariffs, and a little taboo spot called *whispers* Taiwan.
Xi Jinping kicked off the summit by warning that if Taiwan is not handled “properly,” that’d put “the entire relationship in great jeopardy.” Per WTP (read: Winnie the Pres. of China), Taiwan is “the most important issue in China-U.S. relations.” Yikes.
Meanwhile, XJ does seem interested in buying more US oil to reduce China’s dependence on the Hormuz chokepoint, so we got that going for us, which is nice.
But wait, there’s more.
Apparently, Xi also said the door to US/China business will “open wider,” which is exactly what your mom… never mind.
Elon, Jenny, and Tim Apple all have solid reasons to be stoked by more Chinese business, especially Nvidia, which has been stuck competing with the local knockoffs due to D.C.’s trade limitations.
Spoiler: NVDA has been ripping since Jensen stepped on Air Force One.
But no one went from six to midnight quicker than Boeing $BA ( ▼ 4.73% ) after Donny Air reported that China made a deal to buy 200 jets…
Still, markets went all “that don’t impress me much.” Despite the yuge order, Boeing stonk fell on the news.
Because crashing and burning, that’s what Boeing does.
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+ J-Poww watching these numbers come in…
Absolutely brutal week for inflation haters. First, on Tuesday, April CPI went hard in the paint (and I mean that in the worst way possible), coming in at 0.6% for the month, bringing the annual number up to 3.8%. Woof.
Core-style CPI rose 0.4% for April and hit 2.8% annually. Turns out, energy was a pretty, pretty problematic variable (uh, duh doyy) with a 17.9% gain over last year.
Next up, on Wednesday, April PPI came in hotter than hantavirus. Wholesale inflation jumped 1.4% in April, up 6% from last year. Meanwhile, core PPI only jumped 1%, so… energy.
Anyway, no pressure, Kevin Warsh. On Wednesday, the trimmed king became a “made man” (read: got confirmed by The Senate) to become the richest Fed chair in history… so at least we know he’s good with money, right?
+ Allbirds $BIRD ( ▼ 2.59% ) be like “told ya so…”
Cerebras $CBRS ( ▲ 68.15% ) has got to be getting tired of all this winning. The chipmaker/cloud compute landlord put on a masterclass in how to IPO yesterday. Shares opened at $350 after listing at $185, bringing its market cap up over $100B for a while…
Which makes sense when you consider Cerebras is pretty much the only one competing with Nvidia on producing decent GPUs. Although they’re also diversifying a la Allbirds to sell cloud compute as well.
Not a bubble.
+ Slick oil…
Looks like a few more (spoiler: four) unsanctioned supertankers have made their way through the S of H over the last few days. We’re looking at a daily rate of around 2M barrels about to burn a hole in the ozone layer. That’s still a fraction of the pre-war rate, but better than nothing.
Calling any and all smugglers…
> (Thursday) Apple-OpenAI Alliance Frays, Setting Up Possible Legal Fight // Scam Altman bout to get a 2nd run at the witness stand.
> (Thursday) Lawyers Trade Barbs on Credibility of Elon Musk, Sam Altman in OpenAI Trial // What non-profit will Elon seek to destroy next? Make-A-Wish? Where does it end?
> (Thursday) Las Vegas Raiders to Sell 25% Stake to Egon Durban-Led Group // The Heismendoza effect.
> (Wednesday) Paramount Skydance says $110B WBD merger needed to compete with Netflix, other streaming rivals // “We need our monopoly to compete with their monopoly.”
> (Tuesday) Sam Altman faces heat as he takes witness stand in landmark OpenAI trial: ‘Are you completely trustworthy?’ // Lawyers everywhere watching this like…
> (Tuesday) EBay Rejects GameStop’s $56 Billion Takeover Proposal // “The worst she could say is no.”
> “Not a bubble…”
2 million acres. 58 site prospects. Up to 13 billion barrels of upside. One ticker.
Greenland Energy Company (NASDAQ: GLND) just went public with rights to earn up to a 70% working interest across the entire Jameson Land Basin (think: largely undrilled land). Halliburton and Stampede Drilling are contracted. And the first wells are going up this year.
You guys know that one scene in There Will Be Blood where the gusher erupts? That’s what we’re looking for…
This is a paid advertisement by Greenland Energy Company.
On Tuesday, I asked, “Keep those tinfoil hats on cause I got WAY too deep into the UFO disclosures this weekend. Where's your head at?”
30.3% of you said, “It’s legit aliens, bro.” Live look at the average TWC reader…
Here’s what some of you guys had to say (and my response in italics)…
It’s legit aliens, bro: “It’s very American to have the gargantuan ego to think that Earthlings are the only game in town.” Wait, what?
It’s all a psyop, none of that sh*t is real: “Half the people that care won't read any of the disclosures and will claim the US government has substantiated the existence of Aliens and the other half will read it and see no aliens and claim that the Government didn't release the good stuff.” I see no lies.
It’s all real, but it’s our own secret tech: “Maybe we were the aliens all along.” The real aliens were the aliens we made along the way.
It’s legit aliens, bro: “You don’t go from kitty hawk to Cape Canaveral in under 100 years without some help… also aliens are probably better ending that what AI is going to do with us.” Alien V. AI. Coming this Summer…
It’s legit aliens, bro: “It was Aliens (insert picture of crazy hair History channel guy).” Please see above.
Here’s today’s question(s)…
You receive an invite to go party (unhinged, but nothing evil) with DJT, Xi, Elon, Tim, and Jensen for one night. Are you going or not? (You better share why/why not)
+ US stocks advanced on Thursday, lifted by a rally in tech stocks as investors absorbed generally solid economic data and watched for developments from Beijing, where U.S. President Trump was engaged in a high-stakes meeting with his Chinese counterpart Xi Jinping. (Reuters)
+ The 10-year yield edged up to 4.49% on Thursday, its highest level since July 2025, as persistent energy inflation from the Iran conflict and a hotter-than-expected wholesale price report continued to weigh on rate-cut expectations. (CNBC)
+ Oil prices ended little changed on Thursday after Iran’s state media said about 30 vessels had crossed the Strait of Hormuz, though attacks on one ship and the seizure of another kept stoking concerns over the flow of energy supplies during the Iran war. (Reuters)
+ The “smart” money (prediction markets) thinks that there’s a 31% chance that Elon wins his lawsuit against ScammyGPT. (Polymarket)
⏩ Today we’re keeping an eye on…
+ Datavault AI reports before the opening bell
+ It is the deadline for 13F filings for institutional investment managers to reveal their positions as of March 31
⏩⏩ On Monday…
+ Baidu and iQIYI drop earnings before the bell
Oh, and one more thing…
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