US producer prices increase more than expected in April (1 min read)

The US producer price index (PPI) rose unexpectedly by 0.5% in April, driven by significant increases in the costs of services and goods. This rise exceeded economists' predictions and follows a period of slight rebound in US inflation after slowing last year. Despite this uptick, there's optimism that inflation will decrease as the labor market cools, with part of the market still expecting a rate cut this year. All eyes are on the CPI data the next day for further insights.

Weaker supply will drive platinum deficit higher than expected in 2024, WPIC says (1 min read)

The global platinum market is expected to face a deeper deficit in 2024 than initially anticipated. This deficit, caused by decreased mine supply from South Africa and Russia, is set at 476,000 troy ounces—less severe than 2023's 851,000-ounce shortfall, due to a 5% drop in demand. Supply issues are worsened by operational cutbacks and geopolitical tensions, while a shift in automotive sector preferences and tighter emission regulations moderate demand.

GameStop stock gains more than 60% as meme-stock market returns with a vengeance (3 min read)

GameStop's stock surged another 60% on Tuesday, continuing a dramatic rise that began Monday when shares increased by 74% due to Keith Gill (aka Roaring Kitty) re-entering the trading scene. His influence sparked a major meme stock rally in 2021. Alongside GameStop, AMC and other heavily-shorted stocks also experienced significant gains, echoing the short squeeze against the institutional short-sellers three years ago.

Walmart is axing hundreds of corporate jobs and bringing remote employees into the office (1 min read)

Walmart is restructuring by eliminating hundreds of corporate positions, closing stores, and enforcing a return-to-office (RTO) policy that requires remote employees to relocate to major hubs. This move, described as "quiet firing," subtly pushes employees to quit by making their roles less appealing, effectively reducing staff without layoffs. This strategy is part of broader trends that major firms like Meta, Google, and Salesforce are also implementing.

Franklin Templeton CEO says all ETFs and mutual funds will be on blockchain (2 min read)

Jenny Johnson, CEO of Franklin Templeton, recently reiterated her belief in blockchain's efficiencies in finance, where the technology can significantly reduce costs and improve data verification compared to traditional methods. She predicts that mutual funds and ETFs will eventually migrate to blockchain, potentially through tokenization, similar to Blackrock’s recent launch of the first tokenized fund.

SPY Back Near Highs. Is the Pullback Over? (1 min read)

Despite a brief dip in April, the SPDR S&P 500 ETF Trust (SPY) swiftly recovered and is nearing its all-time high again. Despite ongoing concerns about US inflation and the timing of rate cuts, the overall market sentiment is still optimistic, driven by strong gains in the AI sector. The $40 billion infused into US-listed ETFs in the past month shows investors are confident, with significant portions directed toward major US equity ETFs.

Meet the Stock-Split Stock That Makes Up 23% of Billionaire Bill Ackman's $11 Billion Portfolio (5 min read)

Bill Ackman is known for holding significant stakes in a few companies for the long term, often troubled ones where he pressures management to improve. His fund, Pershing Square, had returned 31% annually over five years and Chipotle Mexican Grill comprised 23% of the portfolio. Chipotle's strong growth and operational excellence have boosted Ackman's portfolio. For investors who can’t stomach its current high valuation, it's still worth adding to your watchlist.

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