MRKT MATRIX: May 31, 2024

Today’s Top Stories:

• Market Wrap / Selloff (CNBC)

• Fed Likely to Seek More Evidence Despite Cooler Inflation Data (Bloomberg)

• Atlanta Fed’s GDPNow Lowered to 2.7% (Atlanta Fed)

• Analysts Have Increased Eps Estimates For S&P 500 Companies For Q2 2024 Since March 31 (FactSet)

• Why the Enterprise Software Stock Sell-Off Is Overdone (The Information)

• Wall Street Billionaires Are Rushing to Back Trump, Verdict Be Damned (Bloomberg)

• Biden urges Israel and Hamas to agree ceasefire, hostage deal (Axios)

• OpenAI finds Russian and Chinese groups used its tech for propaganda campaigns (Washington Post)

Today’s On The Tape is Presented by CME Group and iConnections

Winners and Losers of the Vibecession with Kyla Scanlan

The hosts reflect on a recent conversation with Steve Eisman, exploring his optimistic outlook despite current economic challenges. Key topics include the state of the U.S. consumer, recent Treasury auctions, and the dynamics of the energy sector. They discuss the impact of recent Treasury auctions on yields, the performance of tech stocks like Salesforce and Adobe, and the challenges facing the retail sector. The conversation also touches on the potential for a slowdown in enterprise spending and the implications for generative AI and tech stocks. Additionally, they explore the dynamics of private credit and its risks, and analyze the recent developments in the gambling sector, particularly DraftKings and Flutter.

Guy & Dan are joined by Kyla Scanlon, a prolific content creator known for her insightful economic analyses on social media platforms like Twitter, TikTok, and YouTube. Kyla discusses her journey from options trading in high school to becoming a prominent voice in finance, sharing her experiences and the challenges she faced along the way. The episode delves into her new book, "In This Economy: How Money and Markets Really Work," and explores the disconnect between the stock market and the real economy. Tune in to hear Kyla's thoughts on economic trends, the role of the Federal Reserve, and the importance of optimism in finance.

Article Mentioned

• ‘Not Gonna Be Pretty:’ Covid-Era Homebuyers Face Huge Rate Jump

• ConocoPhillips buying Marathon Oil for $17.1 billion in all-stock deal as energy prices rise

• New BYD Hybrid Can Drive Non-Stop for More Than 2,000 Kilometers

• Dimon Says ‘Could Be Hell to Pay’ If Private Credit Sours

• Inside Donald Trump and Elon Musk’s Growing Alliance

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