Pizzly Bears Are Busy Playing

Hello and Welcome!👋 Did you know that If a Polar Bear and a Grizzly Bear mate, their offspring is called a Pizzly Bear? Yup. That’s good for stock market bears because, with the S&P 500 once again green for the year, they are going to need as many friends as they can get.

Here’s what we’re watching today:

  • Today’s economic calendar is quiet

  • Key Fed reps are slated to speak

  • Musk pitches robotaxis in Saudi Arabia

  • The S&P is staging a rare move outside of its implied weekly range

Let’s jump in.🦘🦘

Wednesday’s pretty chill on the economic data front, but if you’re craving some market insight, a few key Fed folks are stepping up to the mic.

Keep an ear out for remarks from Governor Christopher Waller, Vice Chair Philip Jefferson, and SF Fed President Mary Daly—they might just drop some clues about where policy is headed next.

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📈 US consumer prices rise moderately in April: Inflation in April tiptoed in at 0.2%, with annual inflation at 2.3%, slightly below expectations. A 90-day tariff truce between the U.S. and China helped ease price pressures, giving investors a reason to smile. However, with a 10% blanket tariff still in place, the Fed is keeping one eye on inflation and the other on interest rates. Read more

🥚 Egg prices dropped in April: Will the fall continue or will they rise again?: Egg prices in April took a nosedive, offering some relief to breakfast enthusiasts. But before you start planning an omelet festival, experts warn that prices could scramble again due to supply chain hiccups. So, enjoy the sunny-side savings while they last. Read more

💸 Russian economy in worse shape than Moscow says, report for EU shows: A report presented to EU finance ministers reveals that Russia's economy is more fragile than official figures suggest. While Moscow boasts a 4.3% GDP growth, the report points to underreported inflation and unsustainable wartime spending. It's like putting a fresh coat of paint on a crumbling wall. Read more

🤖 Microsoft to lay off 6,000 employees, despite strong earnings report: Despite a strong earnings report, Microsoft is trimming its workforce by 6,000, marking its second round of layoffs this year. The move is part of a strategy to stay lean and mean in a competitive tech landscape. Apparently, even in the cloud, there are stormy days. Read more

👖 American Eagle withdraws 2025 guidance, says Q1 worse than expected: American Eagle is flying a bit lower after a rough first quarter, leading the company to pull its 2025 guidance. With sales not meeting expectations, it's a reminder that even eagles can have turbulent flights. Time to tighten those denim belts. Read more

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 Musk Pitches Robotaxis in Saudi Arabia, but Uber’s Ahead

Elon Musk is eyeing Saudi Arabia for Tesla’s robotaxi rollout—but he may be late to the party.

Speaking at the US-Saudi Investment Forum on Tuesday, Musk floated the idea of bringing Tesla’s self-driving tech to the Kingdom, describing future cars as “robots on four wheels.” While he didn’t drop any dates or specifics, Musk said Saudi Arabia could be part of Tesla’s post-pilot expansion after its Austin robotaxi debut in June.

Meanwhile, Uber is already paving the way. On May 6, the company announced plans to launch autonomous vehicles in Saudi Arabia this year through its partnership with China’s Pony.AI. The Kingdom’s Transport General Authority confirmed the news on Tuesday, adding that the first robotaxis—with safety operators on board—are expected to hit the streets in 2025.

Saudi Arabia is all-in on autonomous vehicles as part of its Vision 2030 plan to diversify its economy away from oil. The country released a regulatory framework for self-driving cars last year and appears eager to welcome tech giants into the fold.

Bottom line: Tesla’s future in the Kingdom sounds promising, but Uber’s already buckled in.

Click here 👈to learn more about our charts.

Click here 👈to learn more about our charts.

🚗 AAA Projects 45.1 Million Americans Will Travel Memorial Day: Get ready for packed highways and crowded airports as AAA forecasts a record-breaking 45.1 million travelers this Memorial Day weekend. With gas prices behaving and wanderlust in the air, it's the perfect storm for a travel surge. Remember to pack snacks and patience. Read more

🚘 Tesla's board chair made $198 million selling stock as profit fell: Tesla's board chair, Robyn Denholm, cashed in $198 million from stock sales, even as the company's profits took a dip. While Elon Musk urged employees to hold onto their shares, Denholm's actions suggest a different tune. Timing is everything in the stock market symphony. Read more

🏥 UnitedHealth suspends annual forecast, CEO Andrew Witty steps down: UnitedHealth is navigating a stormy year, from a massive cyberattack compromising 190 million people's data to the tragic loss of an executive. CEO Andrew Witty has stepped down, and the company is suspending its 2025 forecast amid rising medical costs. It's a tough pill to swallow for the healthcare giant. Read more

🌱 US farmers say Brazil still has edge in China's soybean market: Despite efforts, U.S. soybean farmers are still trailing behind Brazil in the Chinese market. Brazil's record harvest and absence of tariffs give it a competitive advantage. It's an uphill battle for American farmers. Read more

🛫 Newark Airport to reduce flights: Newark Airport is dialing back its flight schedule to ease congestion and improve punctuality. The move aims to make the travel experience less of a headache for passengers. Fewer flights, but hopefully fewer delays. Read more

As for earnings, reports have a bit of a dry spell recently. But there is one big tech name worth watching: Cisco Systems.

Below is our curated list of top value-added insights that uncover what’s happening way beyond the usual financial media headlines.

Thank U GIF

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