MoneyLion Markets Daily Newsletter

Lilly Needs Sleep

Jasleen S — Tue, 31 Mar 2026 20:40:00 +0000

TLDR

⚡️ MARKET RECAP → Major averages post their best day since May as hopes rise of peace in the middle east.

⛽ $4 GAS WON’T SPOOK THE FED → Even as gas prices climb toward $4, the Fed is unlikely to hike rates because energy inflation is supply-driven and can actually slow growth — meaning higher pump prices may ultimately strengthen the case for rate cuts, not tightening.

💊 LILLY BUYS INTO SLEEP DRUGS → Eli Lilly (LLY) is acquiring Centessa to expand into sleep-disorder treatments, using its GLP-1-driven cash flow to build a broader pipeline and tap into a growing, underdeveloped therapeutic market.

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MARKETS

Market Snapshot

Today’s S&P 500 Heatmap

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Notable Earnings

For the week beginning March 30, 2026

Source

A MESSAGE FROM OUR PARTNER

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ECONOMICS

$4 Gas Won’t Spook The Fed

⛽ Gas prices near $4 aren’t enough to trigger rate hikes. Even as rising oil pushes fuel costs higher, the Fed is unlikely to respond with tighter policy because energy-driven inflation is viewed as temporary and supply-driven — not a sign of overheating demand. In other words, higher gas hits consumers, but it doesn’t necessarily change the Fed’s core inflation outlook.

📉 In fact, expensive gas can slow the economy. Higher fuel costs act like a tax on households, reducing discretionary spending and weighing on growth. That dynamic can actually cool the economy — the opposite of what would justify rate hikes — and could reinforce the case for easing if broader demand weakens.

📊 Markets are starting to flip the narrative. Instead of fearing more tightening, investors increasingly see rising energy prices as a drag that could accelerate rate cuts later in 2026. The Fed’s focus remains on underlying inflation trends, not volatile energy spikes, keeping policy anchored to the bigger picture.

HEALTHCARE
Lilly Buys Into Sleep Drugs

💊 Eli Lilly (LLY) is acquiring Centessa to expand into sleep-disorder treatments. The deal brings Centessa’s pipeline — including therapies targeting narcolepsy and other sleep conditions — under Lilly’s umbrella, marking a strategic push beyond its blockbuster diabetes and weight-loss franchises.

🧠 This is a pipeline diversification play. Lilly has dominated headlines with GLP-1 drugs, but the Centessa acquisition signals a broader ambition to build a multi-therapeutic portfolio. Sleep disorders represent a sizable and underpenetrated market, with growing demand for novel treatments that go beyond traditional stimulants.

📊 Investors see long-term optionality. While the deal won’t move near-term earnings, it adds another growth vector to Lilly’s already strong pipeline. The strategy mirrors big pharma’s playbook: use cash flows from dominant drugs to acquire future innovation — especially in areas with unmet medical need and pricing power.

KEEP READING

Oracle cutting thousands in latest layoff round as company continues to ramp AI spending (CNBC)

NOTABLE POSTS

WHAT WE’RE WATCHING

Tools & Resources

OpenBB — AI-powered research and analytics workspace
Earnings Hub — Earnings calendar
Quiver Quantitative — Quiver allows retail investors to tap into the power of big data with insights into things like congressional trades as they are disclosed
Perplexity — Perplexity AI is an AI-chatbot-powered research and conversational search engine
The Market Ear — Live news, analysis and commentary on what moves markets and trading
Coinmarketcap.com — Crypto market data
Finviz — Financial visualizations
Trading Economics — Economic calendar
Dataroma — Track stock picks and portfolios of legendary value investors such as Warren Buffett
AltIndex — Alternative datasets to uncover unique insights
GFR Smart Stock Selector — Filters stocks to help investor choices

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Tether Ball

Jasleen S — Tue, 24 Mar 2026 20:15:00 +0000

TLDR

⚡️ MARKET RECAP → Stocks closed lower on Tuesday following Monday’s sharp rally.

🪙 CIRCLE CRATERS ON TETHER TRANSPARENCY MOVE → Circle’s stock dropped hard after Tether signaled a major audit milestone, threatening to erase USDC’s “trust premium” and intensifying competition in a stablecoin market that increasingly looks like it may consolidate around the largest player.

⚠️ PRIVATE CREDIT GETS A JUNK WARNING → Moody’s downgrade of a KKR-backed private credit fund to junk status flags rising bad loans and asset-quality issues, raising concerns that stress is building in one of the fastest-growing — and least transparent — corners of the financial system.

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MARKETS

Market Snapshot

Today’s S&P 500 Heatmap

Source

Notable Earnings

For the week beginning March 23, 2026

Source

CRYPTO

Circle Craters on Tether Transparency Move

📉 Circle (CRCL) stock plunged after a surprise move from its biggest rival. Shares dropped sharply — one of their worst days since IPO — after Tether announced progress toward a full Big Four audit of its reserves, a long-standing credibility gap in the stablecoin market.

🧠 This flips the narrative in the stablecoin war. Circle’s USDC has historically positioned itself as the “trusted, regulated” alternative to Tether’s USDT, which dominates global market share. But if Tether closes the transparency gap, it removes one of Circle’s biggest competitive advantages — potentially shifting institutional flows back toward the larger, more liquid player.

📊 For investors, this is about competitive positioning — not crypto prices. Stablecoins underpin much of crypto trading and liquidity, and Circle’s valuation is tightly tied to USDC adoption and reserve income. A stronger Tether raises the risk that stablecoin markets become even more winner-take-most, pressuring Circle’s growth and margins.

MARKETS
Private Credit Gets a Junk Warning

📉 Moody’s just fired a shot across the private credit bow. A fund run by KKR and Future Standard was downgraded to junk status (Ba1), signaling rising stress in a market that’s been one of Wall Street’s fastest-growing corners. The move reflects deteriorating asset quality and weaker profitability relative to peers.

⚠️ The issue: bad loans are starting to surface. Non-accrual loans — where borrowers stop making payments — climbed to roughly 5.5% of the portfolio, among the highest in the space. Combined with higher leverage and weaker loan structures, the downgrade highlights growing concerns that private credit’s “low default” narrative may be cracking.

📊 This could be a broader signal, not a one-off. The downgrade lands amid rising redemption pressure, tighter lending conditions, and investor anxiety across private credit funds. With trillions tied up in relatively illiquid assets, even small cracks can amplify quickly — making this a potential early warning for wider credit stress.

KEEP READING

Jamie Dimon says Iran war makes Middle East peace prospects better in the long term (CNBC)

More than 7 million student loan borrowers are in a defunct payment plan — what that means for their money (CNBC)

NOTABLE POSTS

WHAT WE’RE WATCHING

Tools & Resources

OpenBB — AI-powered research and analytics workspace
Earnings Hub — Earnings calendar
Quiver Quantitative — Quiver allows retail investors to tap into the power of big data with insights into things like congressional trades as they are disclosed
Perplexity — Perplexity AI is an AI-chatbot-powered research and conversational search engine
The Market Ear — Live news, analysis and commentary on what moves markets and trading
Coinmarketcap.com — Crypto market data
Finviz — Financial visualizations
Trading Economics — Economic calendar
Dataroma — Track stock picks and portfolios of legendary value investors such as Warren Buffett
AltIndex — Alternative datasets to uncover unique insights
GFR Smart Stock Selector — Filters stocks to help investor choices

WE WANT YOUR FEEDBACK

Super Sketchy

Jasleen S — Fri, 20 Mar 2026 20:25:00 +0000

TLDR

⚡️ MARKET RECAP → Stocks fell Friday as all three major indexes clocked another losing week, exacerbated by the Iran war.

🚨 SUPER MICRO HIT BY SMUGGLING SCANDAL → Super Micro (SMCI) stock cratered after employees were charged with smuggling Nvidia (NVDA) AI chips to China, highlighting growing enforcement around export controls and raising new risks around trust, compliance, and customer relationships in the AI hardware supply chain.

📉 SMALL CAPS SLIP INTO CORRECTION → The Russell 2000 has fallen into correction territory, reflecting pressure from higher rates and tighter financial conditions — and potentially signaling broader economic stress as investors pull back from smaller, more vulnerable companies.

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MARKETS

Market Snapshot

Today’s S&P 500 Heatmap

Source

Notable Earnings

For the week beginning March 23, 2026

Source

TECH

Super Micro Hit by Smuggling Scandal

📉 Super Micro (SMCI) shares plunged ~25% after U.S. prosecutors charged employees with smuggling Nvidia (NVDA) chips to China. The indictment names a co-founder, an employee, and a contractor in an alleged scheme to divert billions of dollars’ worth of AI servers — triggering a sharp market reaction and wiping out billions in market value.

🧠 The case strikes at the heart of U.S.-China AI tensions. Authorities say the group rerouted U.S.-made servers through Southeast Asia to bypass export controls designed to limit China’s access to advanced AI hardware. The scheme reportedly involved relabeling equipment and using intermediaries, underscoring how valuable — and tightly controlled — Nvidia-powered infrastructure has become.

📊 For investors, this is a trust and compliance shock. While Super Micro itself wasn’t charged and says it’s cooperating, the fallout raises risks around customer relationships, regulatory scrutiny, and supply-chain credibility. In an AI market built on trust and compliance, even indirect exposure to export violations can shift demand toward “safer” partners like Dell (DELL).

MARKETS
Small Caps Slip Into Correction

📉 The Russell 2000 has officially entered correction territory. The small-cap index dropped more than 10% from its recent high, signaling a meaningful shift in market sentiment away from riskier, domestically focused companies. The move contrasts with relative resilience in large-cap indexes, highlighting a growing divergence under the surface.

🏦 Higher rates and tighter conditions are hitting hardest here. Small caps tend to be more sensitive to borrowing costs, economic slowdowns, and credit availability — all of which remain pressured in a “higher-for-longer” environment. With weaker balance sheets and less pricing power than mega-caps, these companies are often first to feel macro stress.

📊 This is a signal, not just a segment move. Historically, sustained weakness in small caps can foreshadow broader economic or market slowdowns. Investors are now watching whether this correction spreads to larger indexes — or if it remains contained as a rotation toward profitability, scale, and AI-driven leaders.

KEEP READING

Trump admin unveils national AI policy framework to limit state power (CNBC)

U.S. says Cuba is prohibited from taking Russian oil as two tankers head to island (CNBC)

Tim Cook’s China visit reinforces country’s importance to Apple as global frictions rise (CNBC)

NOTABLE POSTS

WHAT WE’RE WATCHING

Tools & Resources

OpenBB — AI-powered research and analytics workspace
Earnings Hub — Earnings calendar
Quiver Quantitative — Quiver allows retail investors to tap into the power of big data with insights into things like congressional trades as they are disclosed
Perplexity — Perplexity AI is an AI-chatbot-powered research and conversational search engine
The Market Ear — Live news, analysis and commentary on what moves markets and trading
Coinmarketcap.com — Crypto market data
Finviz — Financial visualizations
Trading Economics — Economic calendar
Dataroma — Track stock picks and portfolios of legendary value investors such as Warren Buffett
AltIndex — Alternative datasets to uncover unique insights
GFR Smart Stock Selector — Filters stocks to help investor choices

WE WANT YOUR FEEDBACK

Dr. Claude

Jasleen S — Thu, 19 Mar 2026 20:35:00 +0000

TLDR

⚡️ MARKET RECAP → Stocks fell Thursday while oil priced pulled back amidst ongoing developments in the Iran war.

⚠️ COPPER JOINS GOLD’S SELLOFF → A rare simultaneous drop in copper and gold signals more than a normal correction — it reflects growing concerns about global growth and liquidity, suggesting markets may be bracing for a broader economic slowdown rather than just rotating between risk assets.

🎈 HELIUM SHOCK HITS KEY INDUSTRIES → The Iran war is constraining global helium supply via LNG disruptions in Qatar, driving price spikes and raising risks for semiconductors, healthcare and industrial production — a reminder that geopolitical shocks don’t just hit oil, but critical hidden inputs across the economy.

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MARKETS

Market Snapshot

Today’s S&P 500 Heatmap

Source

Notable Earnings

For the week beginning March 16, 2026

Source

COMMODITIES

Copper Joins Gold’s Selloff

📉 Copper just broke — and that’s a bigger deal than gold. Both industrial and safe-haven metals dropped sharply in a broad commodities selloff, with copper sliding alongside gold and silver. That’s unusual: copper typically reflects economic growth, while gold signals fear — so when both fall together, markets are sending a more complicated message.

🌍 The culprit: growth fears, not just profit-taking. Investors are increasingly worried about a global slowdown, particularly tied to weaker demand expectations and tightening financial conditions. Instead of rotating into safe havens like gold, markets are selling across the board — suggesting this is less about “risk-on vs. risk-off” and more about a liquidity-driven unwind.

📊 This could be a warning signal, not noise. Copper is often called “Dr. Copper” for its ability to diagnose economic health. When it drops alongside gold, it can point to deeper macro stress — including slowing industrial demand, tightening credit, and a potential shift in the global growth cycle. For investors, this isn’t just a metals story — it’s a broader macro red flag.

COMMODITIES
Helium Shock Hits Key Industries

🎈 The Iran war is now squeezing a surprising commodity: helium. Disruptions to natural gas processing in Qatar — a major helium producer — are choking global supply, since helium is extracted as a byproduct of LNG production. With energy infrastructure and shipping routes under stress, supply has tightened rapidly, sending prices sharply higher.

💾 This matters far beyond party balloons. Helium is critical for semiconductor manufacturing, medical imaging (MRI machines), and industrial processes — and it’s not easily replaceable. A prolonged shortage could slow chip production and ripple through electronics, healthcare, and data center buildouts tied to AI demand.

📊 Markets are waking up to a broader supply-chain risk. While oil dominates headlines, helium shortages highlight how the Iran conflict is disrupting secondary but essential inputs across global industries. With prices already spiking and inventories limited, this could quietly add cost pressure and bottlenecks across multiple sectors.

KEEP READING

Meta will pay Instagram, TikTok and YouTube creators with big followings to post on Facebook (CNBC)

Tim Cook squashes retirement rumors, says he ‘can’t imagine life without Apple’(CNBC)

Trump waives U.S. shipping law for 60 days to steady oil market (CNBC)

A MESSAGE FROM OUR PARTNER

Read More

WHAT WE’RE WATCHING

Dario Amodei — "We are near the end of the exponential"

"That's why I'm sending this message of urgency"

open.substack.com/pub/dwarkesh/p/dario-amodei-2?r=6249l&utm_medium=ios

Tools & Resources

OpenBB — AI-powered research and analytics workspace
Earnings Hub — Earnings calendar
Quiver Quantitative — Quiver allows retail investors to tap into the power of big data with insights into things like congressional trades as they are disclosed
Perplexity — Perplexity AI is an AI-chatbot-powered research and conversational search engine
The Market Ear — Live news, analysis and commentary on what moves markets and trading
Coinmarketcap.com — Crypto market data
Finviz — Financial visualizations
Trading Economics — Economic calendar
Dataroma — Track stock picks and portfolios of legendary value investors such as Warren Buffett
AltIndex — Alternative datasets to uncover unique insights
GFR Smart Stock Selector — Filters stocks to help investor choices

WE WANT YOUR FEEDBACK

Conflict Moves the Economy

Jasleen S — Mon, 16 Mar 2026 22:13:51 +0000

TLDR

⚡️ MARKET RECAP → Dow bounces 500 points to start the week as oil prices fall back to $95 a barrel

💊 Medicine Supply Squeeze → A possible closure of the Strait of Hormuz could eventually hit U.S. pharmacies. Nearly half of American generic prescriptions come from India, which relies on oil and shipping routes tied to the strait. If disruptions continue, supply chains could tighten and some medications may face shortages within weeks.

🚗 Parking Tax Proposal →New York City is considering a parking tax to help close a multibillion-dollar budget gap. Mayor Zohran Mamdani is weighing new revenue options as the city faces a projected $5.4B deficit, with officials debating whether drivers, property owners, or high-income residents should shoulder the costs.

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MARKETS

Market Snapshot

Today’s S&P 500 Heatmap

Source

Notable Earnings

For the week beginning March 16, 2026

Source

TRADE

Medicine Supply Squeeze

🚢 Hormuz Disruption Hits Pharma Supply Chains: A potential closure of the Strait of Hormuz could disrupt the supply of generic medicines to the U.S. The conflict threatens a key global shipping route used for energy and trade, and supply-chain experts warn the ripple effects could eventually reach American pharmacies.

💊 India Link Creates Risk for U.S. Prescriptions: Nearly half of all generic prescriptions in the U.S. come from India, tying American medicine cabinets to global shipping lanes. India relies heavily on oil shipments that move through the Strait of Hormuz to power drug manufacturing, meaning disruptions could raise production costs and slow output.

⏳ Shortages Could Appear in Weeks: Drugmakers and distributors currently hold roughly 30–60 days of inventory, buying time before shortages appear. But shipping delays and soaring freight costs could tighten supplies of common medications like antibiotics and diabetes drugs within weeks if the conflict persists.

ECONOMICS
Parking Tax Proposal

🏙️ NYC Searches for Revenue: New York City Mayor Zohran Mamdani is considering new revenue measures—including a parking tax—as the city faces a multibillion-dollar budget gap. Officials say the proposed tax on parking could help generate funds to offset the city’s growing fiscal pressures while avoiding deeper spending cuts or broader tax hikes. The plan comes amid negotiations over how to close a projected $5.4 billion deficit in the city’s budget.

💰 Budget Pressure Builds: City leaders warn the deficit could force difficult decisions if new revenue isn’t found. Mamdani has pushed for higher taxes on the wealthy and corporations to fill the gap, arguing that the city needs additional funding to maintain public services and programs. If those measures fail to pass in Albany, the administration has warned other taxes—such as property or parking—may need to rise.

⚖️ Debate Over Who Pays: The proposal is already fueling debate over fairness and economic impact. Supporters say a parking tax would target drivers and congestion in a dense city, while critics argue it could increase costs for residents and businesses already facing high living expenses. The idea highlights the balancing act facing City Hall as leaders try to stabilize finances without hurting the city’s economy.

KEEP READING

Trump-Xi China summit may be delayed if Trump wants to stay in Washington for Iran war: Bessent (CNBC)

op Wall Street analysts are bullish on these 3 dividend-paying energy stocks (CNBC)

Barclays’ model shows AI spending cycle is far from peak. That means Nvidia shares are too cheap (CNBC)

WHAT WE’RE WATCHING

Dario Amodei — "We are near the end of the exponential"

"That's why I'm sending this message of urgency"

open.substack.com/pub/dwarkesh/p/dario-amodei-2?r=6249l&utm_medium=ios

Tools & Resources

OpenBB — AI-powered research and analytics workspace
Earnings Hub — Earnings calendar
Quiver Quantitative — Quiver allows retail investors to tap into the power of big data with insights into things like congressional trades as they are disclosed
Perplexity — Perplexity AI is an AI-chatbot-powered research and conversational search engine
The Market Ear — Live news, analysis and commentary on what moves markets and trading
Coinmarketcap.com — Crypto market data
Finviz — Financial visualizations
Trading Economics — Economic calendar
Dataroma — Track stock picks and portfolios of legendary value investors such as Warren Buffett
AltIndex — Alternative datasets to uncover unique insights
GFR Smart Stock Selector — Filters stocks to help investor choices

WE WANT YOUR FEEDBACK

Wall Street Valley Bank

Jasleen S — Fri, 13 Mar 2026 21:47:00 +0000

TLDR

⚡️ MARKET RECAP → Dow tumbles more than 700 points as oil jumps, closing at new 2026 low under 47,000.

🏦 JPMORGAN TARGETS STARTUP BANKING → JPMorgan (JPM) is expanding its push into venture and startup banking in the wake of Silicon Valley Bank’s collapse, aiming to capture deposits, lending and long-term relationships with young tech companies that could grow into major corporate clients.

📉 GROWTH SLOWS WHILE INFLATION LINGERS → U.S. GDP was revised down to just 0.7% growth in Q4 while core inflation climbed to 3.1% in January, creating a difficult mix of slowing momentum and persistent price pressure that complicates the Federal Reserve’s path on interest rates.

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MARKETS

Market Snapshot

Today’s S&P 500 Heatmap

Source

Notable Earnings

For the week beginning March 16, 2026

Source

FINANCE

JPMorgan Targets Startup Banking

🏦 JPMorgan Chase (JPM) is moving aggressively to win over startups once loyal to Silicon Valley Bank. The banking giant is expanding services for venture-backed companies after SVB’s collapse reshaped the startup finance landscape. JPMorgan executives say the goal is to provide a full-stack offering — including lending, treasury, payments and venture banking — that can scale alongside young tech companies.

💼 The opportunity opened after SVB’s fall. When Silicon Valley Bank failed in 2023, thousands of startups suddenly had to rethink where they kept deposits and raised credit lines. JPMorgan has been building out specialized startup teams and courting founders and venture capital firms, hoping to capture a market that SVB once dominated.

📊 For JPMorgan, this is about capturing the next generation of clients. Venture-backed companies may start small, but they often become long-term corporate banking customers if they scale successfully. By embedding itself early in the startup ecosystem, JPMorgan is effectively betting that today’s founders could become tomorrow’s major public-company clients.

ECONOMICS
Growth Slows While Inflation Lingers

📉 The U.S. economy slowed sharply at the end of 2025. Fourth-quarter GDP growth was revised down to just 0.7% annualized, half the initial estimate of 1.4% and far below expectations, reflecting weaker consumer spending, exports and government outlays. The revision marked a major slowdown from the 4.4% growth rate in the third quarter, suggesting the economy lost momentum heading into 2026.

🔥 Inflation isn’t cooperating with the slowdown. At the same time, January’s core PCE inflation rose to 3.1%, up slightly from December and well above the Federal Reserve’s 2% target. That combination of slower growth and persistent inflation has revived concerns about a stagflation-like environment for policymakers and investors.

📊 The Fed’s balancing act just got harder. Sluggish growth would normally support interest-rate cuts, but stubborn inflation limits how quickly the central bank can ease policy. With geopolitical tensions and higher energy prices also looming, markets are increasingly debating whether the economy is heading toward a soft landing—or a tougher mix of slow growth and sticky prices.

KEEP READING

How the Iran war could start to impact U.S. retail prices (CNBC)

Trump says he thinks Putin is helping Iran (CNBC)

Barclays’ model shows AI spending cycle is far from peak. That means Nvidia shares are too cheap (CNBC)

NOTABLE POSTS

WHAT WE’RE WATCHING

Dario Amodei — "We are near the end of the exponential"

"That's why I'm sending this message of urgency"

open.substack.com/pub/dwarkesh/p/dario-amodei-2?r=6249l&utm_medium=ios

Tools & Resources

OpenBB — AI-powered research and analytics workspace
Earnings Hub — Earnings calendar
Quiver Quantitative — Quiver allows retail investors to tap into the power of big data with insights into things like congressional trades as they are disclosed
Perplexity — Perplexity AI is an AI-chatbot-powered research and conversational search engine
The Market Ear — Live news, analysis and commentary on what moves markets and trading
Coinmarketcap.com — Crypto market data
Finviz — Financial visualizations
Trading Economics — Economic calendar
Dataroma — Track stock picks and portfolios of legendary value investors such as Warren Buffett
AltIndex — Alternative datasets to uncover unique insights
GFR Smart Stock Selector — Filters stocks to help investor choices

WE WANT YOUR FEEDBACK

Signing Off

Jasleen S — Thu, 12 Mar 2026 21:23:38 +0000

TLDR

⚡️ MARKET RECAP → Dow tumbles more than 700 points as oil jumps, closing at new 2026 low under 47,000.

👋 Microsoft Veteran Signs Off → Rajesh Jha is retiring after 35+ years at Microsoft. The executive who helped move Office into the cloud and oversee products like Windows, Teams, and Microsoft 365 will step down July 1 but stay on as an advisor. His departure triggers a leadership reshuffle as Microsoft doubles down on AI-powered software.

✈️ AIRFARES HIT TURBULENCE → Rising oil prices from the Iran war are pushing jet fuel costs sharply higher, forcing airlines to raise ticket prices and consider fuel surcharges. With disrupted flight routes and tighter fuel supplies, travelers may face more expensive flights and possible delays if the conflict continues.

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MARKETS

Market Snapshot

Today’s S&P 500 Heatmap

Source

Notable Earnings

For the week beginning March 9, 2026

Source

TECH

Microsoft Veteran Signs Off

⛽ War Sends Fuel Costs Soaring: Microsoft’s longtime productivity chief Rajesh Jha is retiring after more than 35 years at the company. Jha oversees the Experiences + Devices division responsible for major products like Microsoft 365, Windows, Teams, and Surface hardware, making him one of CEO Satya Nadella’s most influential lieutenants. He will step down on July 1 and remain in an advisory role during the transition.

💸 Airlines Begin Raising Fares: Jha helped transform Microsoft’s flagship productivity suite from boxed software into the cloud-based Microsoft 365 platform. His team also oversaw the rollout of AI features like Copilot across Office apps, shaping how millions of workers interact with software every day. That shift helped Microsoft compete more aggressively in cloud computing and enterprise productivity.

🌍 Travel Disruptions Add Pressure: Instead of naming a single successor, Microsoft is restructuring leadership around several executives reporting directly to Nadella. Leaders across Windows, Office, and AI products will take expanded roles as the company accelerates its push into artificial intelligence and modern workplace software. The move flattens management while keeping Microsoft’s AI-driven strategy intact.

TRAVEL
Jet Fuel Turbulence

🛡️ South Korea Pushes Back on U.S. Move: The Iran war is driving a sharp spike in jet fuel prices, pushing airlines to consider higher ticket prices worldwide. Oil supply disruptions and threats around the Strait of Hormuz—one of the world’s most critical oil shipping routes—have sent energy markets higher, increasing aviation fuel costs dramatically.

🌍 Middle East Defense Takes Priority: Carriers are already increasing airfares or adding fuel surcharges as jet fuel prices jump. Analysts say jet fuel prices in major U.S. hubs surged to about $3.95 per gallon, up sharply from roughly $2.42 before the conflict escalated, forcing airlines to pass some of those costs to travelers.

⚖️ Asia Security Concerns Rise: The war is also reshaping flight routes and travel demand across the globe. Airspace restrictions and longer routes to avoid conflict zones are adding operational costs, while some airlines are warning that if fuel shortages persist, cancellations or further fare increases could follow.

KEEP READING

Strait of Hormuz must remain closed as ‘tool to pressure enemy,’ Iran’s new supreme leader says (CNBC)

Iran Supreme Leader Mojtaba Khamenei has verified account on X, Elon Musk’s platform (CNBC)

Why gold hasn’t moved since the Iran conflict — and where it could go next (CNBC)

NOTABLE POSTS

WHAT WE’RE WATCHING

Dario Amodei — "We are near the end of the exponential"

"That's why I'm sending this message of urgency"

open.substack.com/pub/dwarkesh/p/dario-amodei-2?r=6249l&utm_medium=ios

Tools & Resources

OpenBB — AI-powered research and analytics workspace
Earnings Hub — Earnings calendar
Quiver Quantitative — Quiver allows retail investors to tap into the power of big data with insights into things like congressional trades as they are disclosed
Perplexity — Perplexity AI is an AI-chatbot-powered research and conversational search engine
The Market Ear — Live news, analysis and commentary on what moves markets and trading
Coinmarketcap.com — Crypto market data
Finviz — Financial visualizations
Trading Economics — Economic calendar
Dataroma — Track stock picks and portfolios of legendary value investors such as Warren Buffett
AltIndex — Alternative datasets to uncover unique insights
GFR Smart Stock Selector — Filters stocks to help investor choices

WE WANT YOUR FEEDBACK

Market Moves

Jasleen S — Tue, 10 Mar 2026 21:17:00 +0000

TLDR

⚡️ MARKET RECAP → Stocks fell slightly Tuesday as the Iran war kept traders on edge.

⛽GAS PRICES SPIKE → The Iran conflict is pushing U.S. gas prices higher as oil flows through the Strait of Hormuz face disruption, lifting crude prices and fueling inflation concerns; the White House says the spike is temporary, but rising pump costs are quickly becoming both an economic and political flashpoint if supply shocks persist.

🛡️ MISSILES MOVED FOR WAR → The U.S. is considering moving Patriot missile defenses from South Korea to the Middle East to bolster protection during the Iran war. Seoul opposes the move but says it cannot stop Washington and believes its own forces remain strong enough to deter North Korea.

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MARKETS

Market Snapshot

Today’s S&P 500 Heatmap

Source

Notable Earnings

For the week beginning March 9, 2026

Source

ECONOMY

Gas Prices Under Pressure

📊 Iran War Drives Pump Prices Higher: Gas prices across the U.S. are climbing sharply as the war involving Iran disrupts global oil flows and rattles energy markets. The American Automobile Association says the national average has jumped in recent days as crude oil surged and shipping through the strategic Strait of Hormuz—a route for roughly 20% of global oil—faces major disruptions.

🏛️ White House Downplays Affordability Concerns: Donald Trump has dismissed fears about rising fuel costs, calling the spike temporary and insisting prices will stabilize once the conflict eases. Administration officials argue the increases reflect market “fear and uncertainty” rather than a long-term supply shortage, even as fuel prices jump at the pump.

📉 Political and Economic Stakes Rising: Higher gasoline costs are quickly becoming a political issue as households feel the squeeze and policymakers debate responses. Energy shocks tied to the Iran conflict could feed inflation and create economic pressure if supply disruptions continue, analysts warn.

GEOPOLITICS
Patriots Shifted for Iran War

🛡️ South Korea Pushes Back on U.S. Move: South Korea has voiced opposition to the U.S. relocating Patriot missile defense systems from the Korean Peninsula to the Middle East as the Iran war escalates. President Lee Jae Myung said Seoul disagrees with the transfer but ultimately cannot block the U.S. military from moving its equipment, highlighting the limits of South Korea’s control over American forces stationed there.

🌍 Middle East Defense Takes Priority: Washington is reportedly redeploying some air-defense assets to strengthen protection for U.S. bases and allies facing missile threats linked to the Iran conflict. The move reflects shifting military priorities as the war raises fears of regional missile attacks and broader escalation across the Middle East.

⚖️ Asia Security Concerns Rise: Even as Seoul protests the shift, officials say the change won’t seriously weaken deterrence against North Korea. South Korea maintains strong military capabilities and defense spending, though analysts warn the redeployment underscores how global conflicts can reshape U.S. security commitments across regions.

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Dario Amodei — "We are near the end of the exponential"

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That's Hims

Jasleen S — Mon, 09 Mar 2026 20:30:00 +0000

TLDR

⚡️ MARKET RECAP → Stocks made a comeback from earlier losses on Monday after President Donald Trump said the war with Iran could be reaching its end.

💊 NOVO DROPS FIGHT WITH HIMS → Novo Nordisk has ended legal proceedings against Hims & Hers over compounded GLP-1 weight-loss drugs, easing immediate legal pressure on the telehealth company while leaving the broader regulatory battle over compounded alternatives unresolved.

🎲 WAR BETS SURGE ON PREDICTION MARKETS → Wagers on platforms like Kalshi and Polymarket tied to potential Iran conflict scenarios are exploding in volume, sparking debate over whether prediction markets offer useful forecasting signals — or dangerously turn geopolitical crises into tradable speculation.

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HEALTHCARE

Novo Drops Fight With Hims

💊 Novo Nordisk is backing off its legal battle with Hims & Hers over compounded weight-loss drugs. The pharmaceutical giant ended proceedings tied to allegations that the telehealth company was improperly selling compounded versions of popular GLP-1 medications like Wegovy. The move removes a major legal overhang that had weighed on Hims & Hers’ stock and business model.

⚖️ The dispute centered on compounded alternatives. Drugmakers including Novo Nordisk have argued that compounding pharmacies and telehealth platforms exploit supply shortages of branded GLP-1 drugs to sell similar formulations outside the traditional pharmaceutical distribution system. Critics say this undermines intellectual property protections and safety oversight, while telehealth firms argue it expands patient access amid shortages.

📊 Investors see regulatory risk easing — for now. With Novo stepping back, Hims & Hers (HIMS) gains breathing room to continue offering compounded GLP-1 treatments while branded supply remains constrained. But the broader fight between drugmakers, compounding pharmacies and telehealth platforms over weight-loss medications is far from settled as demand continues to surge.

TECH
War Bets Surge on Prediction Markets

🎲 Millions are pouring into prediction markets tied to a potential Iran war. Platforms like Kalshi and Polymarket have seen a surge in wagers on geopolitical outcomes — including whether the U.S. or Israel will strike Iran, leadership changes in Tehran, and other conflict-related scenarios. Prediction markets let users trade contracts priced between $0 and $1 that represent the perceived probability of an event occurring.

⚖️ The boom is raising legal and ethical alarms. Lawmakers and analysts warn that allowing bets on military action could create incentives for insider trading or the misuse of classified information. Some traders have already profited heavily from well-timed wagers tied to geopolitical developments, fueling calls in Congress to regulate or ban such markets for national-security reasons.

📊 For investors, these markets are both signal and spectacle. Advocates say prediction markets aggregate real-time information better than polls or analyst forecasts, while critics argue they blur the line between financial forecasting and gambling on war. Either way, their rising volume shows how geopolitics is increasingly being traded like an asset class.

KEEP READING

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Dario Amodei — "We are near the end of the exponential"

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Earnings Hub — Earnings calendar
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Perplexity — Perplexity AI is an AI-chatbot-powered research and conversational search engine
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Coinmarketcap.com — Crypto market data
Finviz — Financial visualizations
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Dataroma — Track stock picks and portfolios of legendary value investors such as Warren Buffett
AltIndex — Alternative datasets to uncover unique insights
GFR Smart Stock Selector — Filters stocks to help investor choices

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Trouble

Jasleen S — Thu, 05 Mar 2026 21:50:00 +0000

TLDR

⚡️ MARKET RECAP →Stocks fell Thursday as traders weighed the potential economic impact of the Iran war.

🪖 IRAN WAR RHETORIC RISES → Iran says it’s ready for a U.S. invasion and isn’t pursuing a ceasefire. As U.S.–Israel strikes and Iranian retaliation spread across the region, the conflict risks becoming a broader Middle East war — with energy markets and global investors watching closely.

✈️ TRAVEL HALT IN MIDDLE EAST→ Widespread airspace closures and airline suspensions tied to the Iran war have left hundreds of thousands of travelers stranded, canceled flights at major Gulf hubs, and prompted sweeping evacuation efforts — with tourism and cruise travel hit hard.

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Politics

IRAN WAR RHETORIC RISES

⚔️ Tehran Signals No Retreat: Iran’s foreign minister, Abbas Araghchi, warned that Iran is prepared for a potential U.S. ground invasion and is not seeking a ceasefire. He pushed back on claims that Tehran had asked for negotiations, arguing the country sees no reason to halt the conflict while military operations continue. The remarks underscore Iran’s hardline stance as fighting between the U.S., Israel, and Iran intensifies.

🌍 War Expands Across the Region: The conflict has rapidly widened beyond isolated strikes into a broader regional confrontation. Joint U.S.–Israeli attacks on Iranian targets — including strikes that killed senior leadership — triggered retaliatory missile and drone attacks across the Middle East, threatening oil routes and drawing in multiple countries. The escalation has already disrupted energy markets and raised fears of a longer regional war.

📉 High Stakes for Global Markets. For investors, the biggest risks are energy volatility and geopolitical spillover. Military escalation near critical shipping lanes like the Strait of Hormuz could push oil prices sharply higher and inject uncertainty into global markets. The longer the conflict drags on, the greater the potential for supply shocks and risk-off sentiment across equities and commodities.

TRAVEL
TRAVEL CHAOS AROUND THE WORLD

🌍 Flights and Airspace Disrupted: Air travel across the Middle East has been severely disrupted as the Iran conflict expands, prompting major hubs like Dubai, Abu Dhabi, Doha, and Qatar to close or restrict airspace indefinitely. Airlines such as Emirates, Etihad, and Qatar Airways have suspended routine services, leaving hundreds of thousands of passengers stranded or rerouted.

🚢 Cruise Lines and Tourism Brace: Cruise operators including Dertour and TUI Cruises have canceled voyages and altered itineraries as coastal departures and regional port operations face safety concerns, leaving thousands of holidaymakers stuck on ships or in hotels. Tourism markets that once counted on the Gulf’s booming travel industry are now sharply scaled back amid safety warnings and evacuation efforts.

🧭 Evacuations & Global Ripple Effects: Governments worldwide are scrambling to evacuate citizens, with charter flights and repatriation efforts underway as foreign ministries issue travel bans and “depart now” advisories. Beyond stranded travelers, higher airfare costs and prolonged detours are expected to ripple through global airline schedules and routing for months if airspace closures persist.

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Epstein files: Goldman Sachs lawyer Kathryn Ruemmler asked to testify to House panel (CNBC)

‘No to war’: Spain PM hits back at Trump threat to cut trade over air base dispute (CNBC)

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Coinmarketcap.com — Crypto market data
Finviz — Financial visualizations
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Dataroma — Track stock picks and portfolios of legendary value investors such as Warren Buffett
AltIndex — Alternative datasets to uncover unique insights
GFR Smart Stock Selector — Filters stocks to help investor choices

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Flight To Safety

Jasleen S — Tue, 03 Mar 2026 21:45:00 +0000

TLDR

⚡️ MARKET RECAP → US stocks fell again Tuesday amid escalating tensions in the Middle East following US-Israel strikes on Iran, though comments from President Trump appeared to mitigate some of the midday losses.

📊 BEST BUY BEATS BUT CAUTIONS ON SALES → Best Buy (BBY) beat earnings expectations with strong profit results but missed on revenue and offered conservative fiscal year guidance as holiday sales softened, prompting a stock rally driven by cost discipline, marketplace and ad growth, and dividend strength.

📡 FCC SIGNALS FAST APPROVAL FOR WBD-PARAMOUNT MERGER → FCC Chair Brendan Carr told CNBC he expects Paramount Skydance’s acquisition of Warner Bros. Discovery (WBD) — now the frontrunner after Netflix (NFLX) exited the bidding — to receive swift regulatory clearance, describing it as “cleaner” than Netflix’s earlier proposal while noting the FCC’s role is largely procedural.

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RETAIL

Best Buy Beats But Cautions On Sales

📈 Best Buy (BBY) reported a mixed but ultimately solid Q4 for fiscal 2026 that lifted the stock. The consumer electronics retailer delivered adjusted earnings of about $2.61 per share, topping expectations, helping the shares climb despite broader market weakness. Soft holiday spending pulled down top-line results, but profit resilience impressed investors.

📉 Revenue and sales paint a softer demand picture. Q4 revenue came in slightly below forecasts, with comparable sales down about 0.8 %, reflecting weak appliance and home theater categories even as computing and mobile phones remained steadier. Best Buy also provided fiscal 2027 guidance that’s modest, with revenue and earnings projections slightly under analyst consensus — a signal that consumer spending on tech is still cautious.

💪 Profit drivers and strategic shifts stood out. Cost reductions, growth in its third-party marketplace and advertising business, and a rising dividend yield helped offset headwinds — and have investors giving the company benefit of the doubt. The result: Best Buy became one of the top S&P 500 performers on the day even with softer guidance, as traders priced in resilience and dividend appeal.

MEDIA
FCC Signals Fast Approval for WBD-Paramount Merger

📡 FCC Chair Brendan Carr told CNBC that the Paramount Skydance acquisition of Warner Bros. Discovery (WBD) is likely to sail through regulatory review. Carr said the deal — which came together after Netflix (NFLX) declined to raise its rival bid — is “cleaner” than the previous Netflix-WBD transaction and that the FCC’s role, if any, will be minimal, with approval expected “pretty quickly.”

🧠 Carr downplayed competition concerns compared with Netflix’s approach. He noted that the market share implications of Paramount’s offer differ significantly from the earlier Netflix bid, which had raised more alarms in Washington about concentration. Most of the antitrust review will fall under the Department of Justice, while the FCC’s examination is considered largely procedural.

⚖️ The regulatory backdrop remains mixed. Though the FCC appears ready to clear the deal quickly, other voices — including state attorneys general and consumer advocates — are pushing for a vigorous review of potential job losses, consumer pricing, and reduced media competition. The merger still needs broader U.S. and international approvals before it can close.

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How Iran chooses its supreme leader, and who could be next? (CNBC)

The Strait of Hormuz is facing a blockade. These countries will be most impacted (CNBC)

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Perplexity — Perplexity AI is an AI-chatbot-powered research and conversational search engine
The Market Ear — Live news, analysis and commentary on what moves markets and trading
Coinmarketcap.com — Crypto market data
Finviz — Financial visualizations
Trading Economics — Economic calendar
Dataroma — Track stock picks and portfolios of legendary value investors such as Warren Buffett
AltIndex — Alternative datasets to uncover unique insights
GFR Smart Stock Selector — Filters stocks to help investor choices

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Media Consolidation

Jasleen S — Mon, 02 Mar 2026 22:00:00 +0000

TLDR

⚡️ MARKET RECAP → Stocks closed Monday just above the the flatline, rebounding from sharp declines earlier in the day, as investors bought the dip following U.S. and Israel strikes on Iran over the weekend.

🛢️ QATAR HALTS LNG, MARKETS RIPPLE → Following Iranian drone attacks on its Ras Laffan and Mesaieed facilities, QatarEnergy — one of the world’s largest LNG producers — has halted production, triggering sharp rises in natural gas and oil prices and underscoring the global impact of escalating Middle East tensions.

🎥 HBO MAX, PARAMOUNT+ BECOMING ONE PLATFORM → Paramount Skydance will merge HBO Max and Paramount+ into a unified global streaming service with over 200 million subscribers pending regulatory approval of its WBD acquisition, aiming to create a stronger competitor in the global OTT landscape.

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ENERGY

Qatar Halts LNG, Markets Ripple

🛢️ State-owned QatarEnergy has suspended liquefied natural gas (LNG) production after Iranian drone strikes on its facilities. The attacks hit key energy infrastructure in Ras Laffan Industrial City and Mesaieed, forcing the halt of LNG and associated output — a major disruption given Qatar’s outsized role in global gas supply.

📈 This matters for global energy markets and prices. Qatar accounts for about 18–20% of global LNG exports, sending gas to Asia and Europe. With production offline amid heightened Middle East tensions, benchmark natural gas prices surged sharply — up roughly 40–50% in Europe — and crude oil benchmarks also climbed on broader supply risk concerns.

⚖️ Broader geopolitical fallout is already spreading. The strikes are part of a widening Iran-related conflict that has also affected other Gulf energy facilities, propelled tanker disruptions through the critical Strait of Hormuz, and rattled oil and gas markets worldwide. For traders and governments alike, the episode is a stark reminder of how tightly intertwined geopolitics and energy security remain.

MEDIA
HBO Max, Paramount+ Becoming One Platform

📺 Paramount Skydance plans to merge HBO Max and Paramount+ into a single streaming service. The move was revealed by CEO David Ellison as part of Paramount’s acquisition of Warner Bros. Discovery (WBD), which would combine the two major direct-to-consumer platforms into one global service. Once cleared by regulators, the combined entity could count over 200 million subscribers.

🎬 The combined service aims to simplify and strengthen streaming amid fierce competition. Ellison says the new platform will bring together HBO’s premium content — from prestige dramas to blockbuster films — with Paramount+ originals and CBS/IP libraries, positioning the business to better rival incumbents like Netflix, Disney+, and Amazon Prime Video in both scale and content depth.

💡 Broader industry impact and challenges lie ahead. The consolidation echoes other media moves (e.g., Disney’s integration of Hulu) and could yield cost savings and more unified branding, but may also face scrutiny over pricing, subscriber churn, and regulatory pushback in an increasingly concentrated streaming market.

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Paramount to combine HBO Max and Paramount+ into one streaming service after WBD merger (CNBC)

Anthropic’s Claude sees ‘elevated errors’ as it tops Apple’s free apps after Pentagon clash (CNBC)

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Perplexity — Perplexity AI is an AI-chatbot-powered research and conversational search engine
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Coinmarketcap.com — Crypto market data
Finviz — Financial visualizations
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Dataroma — Track stock picks and portfolios of legendary value investors such as Warren Buffett
AltIndex — Alternative datasets to uncover unique insights
GFR Smart Stock Selector — Filters stocks to help investor choices

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Paramount Production

Jasleen S — Fri, 27 Feb 2026 21:50:00 +0000

TLDR

⚡️ MARKET RECAP → Stocks fell Friday as producer price index data came in (way) hotter than expected, fueling inflation concerns.

📦 PRODUCER PRICES STAY STICKY → January PPI rose 0.3% and remains elevated year over year, driven largely by services costs, reinforcing the Fed’s cautious stance and complicating expectations for rate cuts even as headline consumer inflation has cooled.

🎥 PARAMOUNT CALLS ITS BID SUPERIOR → Paramount and Skydance are urging Warner Bros. Discovery (WBD) shareholders to reject Netflix’s (NFLX) takeover, claiming their merger proposal offers stronger long-term upside and strategic scale — turning the media M&A battle into a high-stakes decision between certainty and potential.

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MEDIA, M&A

Paramount Calls Its Bid Superior

🎬 Warner Bros. Discovery (WBD) just got a fresh plot twist in its streaming saga. Paramount Global and Skydance told WBD shareholders their proposal to merge the companies is “superior” to Netflix’s (NFLX) agreed deal to acquire WBD’s studios and streaming assets. Paramount argues its structure delivers more long-term upside and strategic flexibility versus Netflix’s largely cash-and-stock transaction.

💼 The fight is about value — and leverage. Netflix’s deal offers certainty and immediate liquidity, while Paramount-Skydance is pitching operational synergies, stronger scale in film and TV, and more upside participation for shareholders. WBD’s board is weighing which path creates more durable shareholder value as activist pressure and market volatility hover in the background.

📊 Investors are gaming out the endgame. Shares in WBD and Paramount have swung on each headline, reflecting uncertainty around regulatory approval, financing conditions, and potential counterbids. The bigger takeaway: legacy media is consolidating aggressively in a world where scale is survival and streaming economics remain brutally competitive.

ECONOMICS
Producer Prices Stay Sticky

🏭 January’s producer prices came in hotter than hoped. The Producer Price Index rose 0.3% on the month and about 2.9% from a year earlier, signaling that pipeline inflation pressures haven’t fully cooled even as consumer inflation trends have moderated. Core PPI — excluding food and energy — also ticked up, underscoring that underlying cost pressures remain persistent.

📦 Services are doing the heavy lifting again. Much like CPI, the stickiness is concentrated in services categories, while goods inflation has largely normalized. That matters because service inflation tends to be slower-moving — and more closely tied to wages — which keeps the Federal Reserve cautious about declaring victory.

📊 For markets, this muddies the rate-cut timeline. A firm PPI reading doesn’t guarantee pass-through to consumers, but it reinforces the “higher-for-longer” narrative just as investors were leaning toward mid-2026 rate cuts. Bond yields nudged higher, equities wobbled, and the data adds another layer of complexity to the soft-landing story.

KEEP READING

WBD employees fear coming wave of job losses as Paramount tops Netflix’s bid to acquire company (CNBC)

Michael Burry sees Nvidia ‘purchase commitment’ parallel to Cisco at dot-com bubble top (CNBC)

There’s a ‘bearish-to-bullish’ reversal happening in this mid-cap biotech stock, says Carter Worth (CNBC)

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Perplexity — Perplexity AI is an AI-chatbot-powered research and conversational search engine
The Market Ear — Live news, analysis and commentary on what moves markets and trading
Coinmarketcap.com — Crypto market data
Finviz — Financial visualizations
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Dataroma — Track stock picks and portfolios of legendary value investors such as Warren Buffett
AltIndex — Alternative datasets to uncover unique insights
GFR Smart Stock Selector — Filters stocks to help investor choices

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Priced for Perfection

Jasleen S — Thu, 26 Feb 2026 22:10:00 +0000

TLDR

⚡️ MARKET RECAP → Stocks slumped on Thursday as Nvidia’s (NVDA) earnings beat analyst estimates but failed to excite investors.

🟢 NVIDIA DELIVERS, BUT THE BAR MOVES HIGHER → Nvidia (NVDA) crushed Q4 with explosive data center growth and bullish guidance, reinforcing its dominance in the AI buildout — but at today’s valuation, the company has to keep exceeding sky-high expectations to keep the rally intact.

🧾 TRUMP ACCOUNTS COME WITH TAX STRINGS → Trump Accounts offer $1,000 seed money and federally tax-deferred growth for children born 2025–2028, but uneven state tax treatment could chip away at long-term compounding — turning a simple savings pitch into a geography-dependent strategy play.

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TECH
Nvidia Delivers, But The Bar Moves Higher

🚀 Nvidia (NVDA) posted another monster quarter — and the stock still had to earn it. Fiscal Q4 revenue surged roughly 265% year over year to about $22.1 billion, with data center sales again doing the heavy lifting as hyperscalers and AI startups race to secure GPUs. Earnings crushed estimates, and guidance pointed to yet another sequential step-up next quarter.

🧠 AI demand is real — but so is saturation risk. CEO Jensen Huang highlighted insatiable appetite for AI infrastructure, with Blackwell and next-gen chips ramping into 2026. At the same time, investors are watching for signs that hyperscaler capex could eventually normalize, especially as custom silicon efforts from companies like Microsoft (MSFT) and Amazon (AMZN) mature.

📊 Valuation meets execution. Nvidia’s fundamentals remain historically strong, but at a market cap north of $2 trillion, perfection is assumed. The story is no longer “Is AI real?” — it’s “How long does hypergrowth last?” If orders hold and margins stay elevated, Nvidia remains the AI cycle’s gravitational center. If growth even slightly decelerates, volatility will be swift.

Trump Accounts Come With Tax Strings

🧾 Trump’s new “Trump Accounts” are officially rolling out — but the tax math isn’t as simple as advertised. The accounts, created under the 2025 tax law, seed eligible newborns with $1,000 and allow up to $5,000 per year in additional contributions that grow tax-deferred federally. They’re pitched as long-term wealth builders for children, eventually converting into IRA-style retirement accounts at age 18.

🏛️ The catch: state tax treatment may vary widely. While the federal government allows tax-deferred growth, several states are expected to treat earnings differently — potentially taxing gains annually instead of deferring them. That means families in certain states could face unexpected tax friction that reduces compounding power over time.

📊 Policy headline vs. portfolio reality. The concept mirrors 529 plans and Roth structures, but without uniform state conformity, the benefit depends heavily on where you live. For investors and families, the program is a long-duration bet on tax policy stability — and a reminder that “tax-advantaged” doesn’t always mean universally tax-free.

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Restaurant reservation wars heat up as DoorDash enters the arena with Resy, OpenTable (CNBC)

Trump pitches new retirement plan with a federal match of up to $1,000 per year — who could benefit (CNBC)

David Ellison has a rocky history at the box office. Buying Warner Bros. could fix that (CNBC)

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OpenBB — AI-powered research and analytics workspace
Earnings Hub — Earnings calendar
Quiver Quantitative — Quiver allows retail investors to tap into the power of big data with insights into things like congressional trades as they are disclosed
Perplexity — Perplexity AI is an AI-chatbot-powered research and conversational search engine
The Market Ear — Live news, analysis and commentary on what moves markets and trading
Coinmarketcap.com — Crypto market data
Finviz — Financial visualizations
Trading Economics — Economic calendar
Dataroma — Track stock picks and portfolios of legendary value investors such as Warren Buffett
AltIndex — Alternative datasets to uncover unique insights
GFR Smart Stock Selector — Filters stocks to help investor choices

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Streaming Showdown

Jasleen S — Wed, 25 Feb 2026 21:40:00 +0000

TLDR

⚡️ MARKET RECAP → US stocks gained on Wednesday, as tech built on its AI-disruption recovery rally that started earlier in the week.

📱 SAMSUNG’S S26 LAUNCH AMID CHIP CRUNCH → Samsung’s Galaxy S26 series launches with elevated prices in key markets amid a memory chip supply crunch driven by AI-infrastructure demand, combining flagship hardware, deeper AI features and privacy innovations even as competitive pressure remains intense.

🎥 STREAMING MERGER SHOWDOWN → Netflix’s Ted Sarandos goes to the White House to defend its $82.7 B WBD bid amid Trump pressure over board members, while Paramount sweetens its rival $31-a-share offer and regulators push for antitrust review, creating a high-stakes corporate and political clash.

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TECH
Samsung’s S26 Launch Amid Chip Crunch

📱 Samsung Electronics unveiled its new Galaxy S26 flagship lineup with higher prices as memory chip costs surge. The Galaxy S26 series — including the base S26, S26 Plus and S26 Ultra — was introduced at Galaxy Unpacked and is set to hit global markets on March 11; pricing in the U.S. starts around $899 for the standard model and $1,099 for the Plus with the Ultra mostly unchanged, reflecting supply-side pressures on smartphone makers.

💾 Soaring memory costs and AI demand are a key driver. Strong demand for DRAM and high-bandwidth memory from AI infrastructure builders has tightened global memory supply, pushing contract prices sharply higher and squeezing margins for devices like smartphones. Samsung’s use of more in-house Exynos processors in select models is also seen as part of a strategy to bolster its chip business amid these market dynamics.

🤖 AI integration and privacy tech are standout features. Alongside chip-related pricing shifts, the S26 lineup packs enhanced AI capabilities powered by partners like Google’s Gemini and Perplexity, as well as an innovative built-in “Privacy Display” on the Ultra that limits side viewing angles — a feature that Samsung hopes will differentiate its premium offering.

Streaming Merger Showdown

🤝 Sarandos Heads to White House: Netflix co-CEO Ted Sarandos is set to visit the White House this Thursday for talks on the company’s $82.7 billion bid to acquire Warner Bros. Discovery’s (WBD) studio and streaming assets. The meeting comes amid a heated bidding battle and President Donald Trump’s vocal demand that Netflix remove board member Susan Rice or “pay the consequences.”

🤼 Rival Paramount Raises Stakes: Paramount Skydance has boosted its offer to $31 per share for the entire WBD company, prompting Warner Bros. Discovery’s board to acknowledge that Paramount’s proposal could be a “company superior proposal” — triggering a four-day window for Netflix to respond.

📈 Antitrust and Political Pressure: Eleven U.S. states (including Republican attorneys general) have urged the Department of Justice to probe the merger for potential competition harms, intensifying regulatory scrutiny. Meanwhile, political dynamics — including Trump’s public pressure over board composition — have added an unusual political overlay to what’s normally a corporate M&A process.

KEEP READING

Restaurant reservation wars heat up as DoorDash enters the arena with Resy, OpenTable (CNBC)

Trump pitches new retirement plan with a federal match of up to $1,000 per year — who could benefit (CNBC)

David Ellison has a rocky history at the box office. Buying Warner Bros. could fix that (CNBC)

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AI Overload

Jasleen S — Tue, 24 Feb 2026 21:55:00 +0000

TLDR

⚡️ MARKET RECAP → On Tuesday, the major averages rose as worries about AI disruption lessened and software stocks recovered.

JPMORGAN EYES AI WORKFORCE TRANSITION → CEO Jamie Dimon says AI will reshape jobs and urges coordinated planning for retraining and redeployment as the bank prepares for slower hiring and evolving roles across its workforce.

🤖 SOFTWARE STOCKS RATTLE ON ANTHROPIC AI → Anthropic’s AI advances triggered a broad sell-off in software, cybersecurity and traditional IT stocks, with IBM posting its worst single-day performance in decades and other major names sliding as markets grapple with the potential for AI to automate core software and security workflows.

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AI, Jobs & JPMorgan’s Future

🤖 JPMorgan Chase CEO Jamie Dimon warns AI is reshaping the workforce. Dimon told investors and industry audiences that artificial intelligence will eliminate some jobs faster than society can adjust, and that both governments and businesses need proactive plans — including retraining, income support and phased transitions — to help workers adapt.

📉 Workforce shifts are already underway. Dimon said JPMorgan may reduce headcount over the next five years even as the bank grows, and emphasized the importance of redeploying staff into AI-enabled roles so people aren’t left behind by automation.

🔄 His view blends caution with strategy. While AI offers productivity gains, Dimon urged not “putting your head in the sand” and advocated for modern workforce programs that help displaced workers — signaling broader industry pressure to balance efficiency and social impact.

Software Stocks Rattle on Anthropic AI

📉 U.S. software and cybersecurity stocks slumped amid renewed AI disruption fears. Shares of major tech names, including stalwart software and security firms, sank sharply after AI startup Anthropic unveiled powerful new tools — most notably Claude Code and Claude Code Security — that can automate legacy code modernization and scan code for vulnerabilities, raising investor anxiety about traditional workflows being upended by AI.

🧨 IBM was the high-profile casualty. International Business Machines suffered its steepest one-day drop in over 25 years, sliding more than 13 % after markets reacted to Anthropic’s claims that its AI can significantly reduce the manual effort historically required to modernize COBOL systems — a core part of IBM’s revenue from mainframe modernization services.

🌍 Other tech and IT stocks also felt the pressure. Indian IT service companies such as Infosys, TCS, and HCL Technologies posted notable declines as investors weighed the broader implications of AI tools on legacy services, while cybersecurity names like CrowdStrike and Zscaler saw double-digit percentage drops amid concerns their business models could face headwinds from more intelligent AI-driven security assistants.

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Spirit Airlines plans to slash flights, fleet in bid to emerge from bankruptcy as early as spring (CNBC)

Epstein files: DOJ may have withheld FBI interviews with Trump accuser, Rep. Garcia says (CNBC)

Savannah Guthrie offers $1 million reward for missing mother Nancy Guthrie (CNBC)

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Blizzards & Bitcoin

Jasleen S — Mon, 23 Feb 2026 22:28:51 +0000

TLDR

⚡️ MARKET RECAP → The S&P 500 (VOO) fell on Monday as investors grappled with persistent fears of AI disruptions in various industries like software.

STORM GROUNDS NORTHEAST TRAVEL → A historic Nor’easter’s heavy snow, fierce winds and blizzard conditions are disrupting flights and shutting down travel across the Northeast, hitting major U.S. airports and prompting emergency declarations in several states.

🔻 BITCOIN’S $64K PIVOT → Bitcoin’s drop toward ~$64,000 is a snapshot of persistent crypto market stress, driven by macro uncertainty and technical selling that reminds traders how quickly risk assets can give back gains when sentiment turns.

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Noreaster Grounds Travel Across the Northeast

🌨️ Historic Nor’easter slams the Eastern Seaboard. A powerful winter storm — bringing heavy snow, high winds, and blizzard conditions — hammered the Mid-Atlantic and Northeast, triggering widespread travel chaos and forcing a massive spike in flight cancellations as airports struggle to operate amid whiteout conditions.

✈️ Air travel and local transport hit hard. Major hubs at JFK, LaGuardia, Newark, Boston and Philadelphia saw cancellations affecting most of their schedules, with airlines cutting flights by large percentages and travelers urged to rebook or delay plans as conditions remain dangerous.

🚗 Road travel and local services also crippled. With blizzard warnings, high winds and heavy snow accumulation, multiple states declared emergencies and restricted non-essential travel — leaving roads treacherous, transit systems curtailed, and millions advised to stay home.

Bitcoin’s $64K Pivot

Gemini

📉 Bitcoin slipped below key support near $64,000 amid renewed market fragility. The world’s largest cryptocurrency fell back under the psychologically important $65K level and touched the low $64K range as risk appetite softened and macro uncertainty weighed on crypto sentiment.

🌍 Tariff and policy ambiguity is one of several headwinds. Traders cited ongoing uncertainty around U.S. trade policy and broader geopolitical risks as key contributors to the sell-off, adding to volatility already present from rate-sensitive markets and shifting investor positioning.

📊 This move underlines how fragile the crypto rally remains. With Bitcoin down significantly from prior peaks and altcoins also sliding, the break below $65K reinforces near-term downside risk and technical vulnerability in a market still searching for a sustained catalyst to reignite broad buying.

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Blizzard cripples East Coast airports, canceling thousands of flights (CNBC)

Bitcoin falls to nearly $64,000 as 2026 crypto woes continue (CNBC)

EU postpones vote on U.S. trade deal after Trump’s latest tariff threat (CNBC)

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Tariff Turbulence

Jasleen S — Fri, 20 Feb 2026 22:10:00 +0000

TLDR

⚡️ MARKET RECAP → The S&P 500 (VOO) and the major averages saw gains on Friday as the Supreme Court struck down tariffs.

⚖️ TRUMP TARIFF POWER CHECKED → The Supreme Court has struck down most of Trump’s tariff regime as unconstitutional, sidelining a key pillar of his trade agenda while he seeks alternate, temporary tools to keep duties in place and re-ignite his broader protectionist strategy.

🎮 SPENCER STEPS ASIDE AT XBOX → Phil Spencer is retiring from Microsoft Gaming after a storied career; Asha Sharma, a seasoned AI exec, will lead the Xbox and broader gaming business, as the company reshuffles its leadership and reorients strategy for the next era.

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Trump Tariff Power Checked

Gemini

⚖️ Supreme Court strikes down Trump’s sweeping tariff authority. In Learning Resources, Inc. v. Trump, the U.S. Supreme Court ruled 6–3 that former President Donald Trump exceeded his authority under the 1977 International Emergency Economic Powers Act (IEEPA) by imposing broad “reciprocal” tariffs on imports — a decision that lands a major blow to one of his signature economic policies and restricts unilateral executive trade powers.

🔥 Trump lashes out and pivots to other tools. After the ruling, Trump publicly blasted the justices he appointed, calling the decision a “disgrace” and vowing to pursue alternative statutory avenues to maintain tariffs, including a limited 10 % global tariff under the Trade Act of 1974 that can only last for 150 days.

🌍 Economic and legal ripples are already spreading. The court’s rejection emphasizes that only Congress has the power to levy tariffs under the Constitution; the decision raises uncertainty for existing global trade policy, could trigger demands for refunds on tolls already collected, and underscores a constitutional check on executive overreach in trade — even in the context of national emergencies.

Spencer Steps Aside at Xbox

Gemini

🎮 Phil Spencer is retiring after nearly four decades at Microsoft and 12 years leading Xbox. The veteran gaming executive, who helped grow Microsoft’s gaming division through Game Pass, big acquisitions and console strategy, is stepping down as CEO of Microsoft Gaming after 38+ years with the company.

🤖 Asha Sharma, an AI and tech veteran, will take the helm. Microsoft has tapped Asha Sharma, currently a senior AI product leader, as the new CEO of Microsoft Gaming — a move that signals a fresh strategic direction that leans into AI, content and platform evolution. At the same time, Xbox President Sarah Bond is leaving and Matt Booty is being promoted to EVP and Chief Content Officer.

📊 For investors and players, it’s both continuity and change. Spencer’s tenure spanned major transitions — from Xbox Game Pass expansion to the Activision Blizzard acquisition — and now the baton passes to Sharma, whose background centers on AI and product at scale. The leadership shakeup could influence Xbox’s future focus on console, cloud, content and AI innovation.

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Trump says he’s considering limited military strike against Iran (CNBC)

S&P 500 jumps after Supreme Court knocks down Trump’s emergency tariffs: Live updates (CNBC)

Morgan Stanley is bullish on this aerospace stock, says market underestimates growth drivers (CNBC)

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FigJam

Jasleen S — Thu, 19 Feb 2026 21:35:05 +0000

TLDR

⚡️ MARKET RECAP → The S&P 500 (VOO) fell on Thursday as private credit stocks and geopolitical risks weighed on the major averages.

🤖 FIGMA’S AI CROSSROADS → Figma (FIG) reported a standout quarter with ~40 % revenue growth — enough to lift the stock — but analysts are calling out structural AI disruption risks that could reshape its design-platform future, blending short-term momentum with long-term uncertainty.

📊 AMAZON TOPS WALMART IN REVENUE → Amazon has surpassed Walmart in annual revenue for the first time in history — delivering about $716.9 billion to Walmart’s $713.2 billion — highlighting the increasing importance of cloud, marketplace, and digital services in the largest U.S. companies’ growth stories.

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Figma’s AI Crossroads

Gemini

📈 Figma (FIG) crushed earnings and the stock jumped. The design-software platform reported about $303.8 million in Q4 revenue, roughly 40 % year-over-year growth that handily topped expectations, sending shares higher as investors cheered both the beat and upbeat guidance for 2026.

🤖 But analysts flagged AI risk on the horizon. Even with strong execution and expanding enterprise adoption, some Street voices warned that generative AI design tools could eventually commoditize Figma’s core workflow, potentially automating UI/UX tasks and eroding the collaborative design moat that made the company indispensable.

📊 Investors are stuck between execution and existential risk. On one hand, Figma’s net dollar retention and premium enterprise traction point to solid fundamentals; on the other, mounting competitive pressure from AI-native rivals and margin impact from AI infrastructure spend keep sentiment cautious. The narrative has shifted from “pure growth” to “growth with execution risk in an AI-first market.”

Amazon Tops Walmart In Revenue

Gemini

📊 A symbolic shift in U.S. corporate might: For the first time ever, Amazon’s annual revenue has eclipsed Walmart’s, with Amazon reporting about $716.9 billion versus Walmart’s roughly $713.2 billion in 2025 sales. That ends Walmart’s 13-year streak as the world’s largest company by revenue and marks a major milestone for the ecommerce-to-tech giant.

🛒 Different growth engines are at play: Amazon’s broader business model — combining ecommerce with high-growth segments like AWS cloud services, advertising and third-party marketplace fees — helped it inch past Walmart’s massive retail-heavy sales base. Walmart, meanwhile, continues to post record revenues and strong e-commerce growth, especially among higher-income shoppers, even as it loses the revenue crown.

📉 For investors, it’s growth narrative vs. legacy scale: The shift reflects broader trends in retail and tech: Amazon’s diversified digital and services stacks are growing faster than brick-and-mortar retail can keep pace, even with Walmart’s expansive store footprint and rising online sales. While the revenue milestone is mostly symbolic, it underscores how digital transformation is reshaping competitive dynamics in retail and corporate rankings.

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U.S. trade deficit totaled $901 billion in 2025 despite Trump’s tariffs (CNBC)

Mark Zuckerberg said he reached out to Apple CEO Tim Cook to discuss ‘wellbeing of teens and kids’ (CNBC)

King Charles’ brother Andrew arrested on suspicion of misconduct (CNBC)

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Funding Secured

Jasleen S — Wed, 18 Feb 2026 21:30:05 +0000

TLDR

⚡️ MARKET RECAP → The S&P 500 (VOO) rose Wednesday, led by AI chipmaker NVIDIA (NVDA) and other big tech stocks.

🚧 Gateway Gets Go-Ahead → After a court ordered the release of frozen federal funds, the Trump administration delivered the final payments for the $16 billion Gateway rail tunnel between New York and New Jersey — allowing construction to resume next week and ending a political funding standoff.

📱 Zuckerberg on the Stand → Mark Zuckerberg testified in a Los Angeles trial where Meta is defending itself against claims its social platforms are addictive and harmful to children. Plaintiffs argue app design caused mental health damage; Meta rejects the claims and points to safety tools. The outcome could set a major precedent for tech liability.

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Gateway Gets Go-Ahead

Gemini

💰 Federal Funds Finally Released: After months of political and legal battle, the Trump administration released the remaining federal funds owed to the $16 billion Gateway rail tunnel project linking New York and New Jersey, clearing the way for construction to resume as soon as next week. This comes after a federal judge ordered the release of previously frozen reimbursements.

🤝 Political Victory After Standoff: New York Governor Kathy Hochul and Attorney General Letitia James hailed the move as a “major win” for commuters, union workers, and the region’s economy, after Trump had frozen roughly $205 million in funding amid a standoff. The tunnel work had temporarily halted, costing jobs and delaying progress.

🛠️ Infrastructure Impact & Next Steps: The Gateway project is critical to replacing century-old rail tunnels under the Hudson River that serve more than 200,000 daily commuters. With federal funds now flowing, construction is set to restart next week, though appeals and political tensions around cost overruns and future funding continue.

Zuckerberg on the Stand

Gemini

⚖️ Meta CEO Faces Jury in Youth Safety Trial: Meta CEO Mark Zuckerberg testified Wednesday in a Los Angeles trial that questions whether Instagram (and other social media platforms) were designed in ways that are addictive and harmful to children. The case centers on a 20-year-old plaintiff who alleges heavy early use contributed to depression and suicidal thoughts — a claim Meta denies, emphasizing its safety tools and policies.

📊 Clash Over Design and Harm: Plaintiffs argue platforms were engineered like “digital casinos,” with features like infinite scroll and autoplay prompting compulsive use. Meta’s defense says complex personal issues — not platform design — explain user harm, pointing to parental controls and age verification efforts. Mosseri, Instagram’s chief, already testified that the company disagrees social media causes clinical addiction.

🌍 Broader Legal and Social Stakes: This case is seen as a bellwether for roughly 1,500 similar lawsuits and could reshape accountability for tech companies over youth addiction and mental health. A jury decision either way may influence future regulations and legal strategies for big tech.

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FDA chief warns U.S. is losing ground to China in early drug development, calls for faster trial approvals (CNBC)

Gold and silver have been on a wild ride. How you can add exposure to the metals in your portfolio (CNBC)

Trump Jr. calls banking a ‘Ponzi scheme’ that forced family to create crypto business (CNBC)

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MoneyLion Markets Daily Newsletter

Lilly Needs Sleep

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$4 Gas Won’t Spook The Fed

HEALTHCARELilly Buys Into Sleep Drugs

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Tether Ball

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Circle Craters on Tether Transparency Move

MARKETSPrivate Credit Gets a Junk Warning

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Super Sketchy

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Super Micro Hit by Smuggling Scandal

MARKETSSmall Caps Slip Into Correction

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Dr. Claude

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Copper Joins Gold’s Selloff

COMMODITIESHelium Shock Hits Key Industries

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Conflict Moves the Economy

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Medicine Supply Squeeze

ECONOMICSParking Tax Proposal

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Wall Street Valley Bank

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JPMorgan Targets Startup Banking

ECONOMICSGrowth Slows While Inflation Lingers

HEALTHCARE
Lilly Buys Into Sleep Drugs

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Private Credit Gets a Junk Warning

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Small Caps Slip Into Correction

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Helium Shock Hits Key Industries

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Parking Tax Proposal

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Growth Slows While Inflation Lingers

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Jet Fuel Turbulence

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Patriots Shifted for Iran War

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War Bets Surge on Prediction Markets

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TRAVEL CHAOS AROUND THE WORLD

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FCC Signals Fast Approval for WBD-Paramount Merger