The pay disparity between us normal folk and the CEOs who make headlines is nothing new. Reuters reported on Friday that the median pay for a US CEO hit a record $16.8 million last year. That's a lot, sure. But a new filing shows Palantir's CEO took home a pay package in 2024 that positively dwarfs Tesla CEO Elon Musk's 2023 comp of $1.4 billion. Megacap tech carried US stocks higher on Friday, as it did for the week as a whole. The S&P 500 rose 0.7%, the Nasdaq 100 gained 1.1%, and the Russell 2000 brought up the rear, going flat. The Magnificent 7 Index and Nasdaq 100 are now less than 1.5% shy of levels seen before the Rose Garden tariff announcements. The Mag 7 cohort had its best week since January 2023, rising 9.1%. ❓ Test your knowledge of our recent stories with the Snacks Seven Quiz. Here's the first Q:. |
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Auto manufacturing startup Slate Auto has emerged from stealth mode, revealing a hotly anticipated electric truck with a stripped-down aesthetic and DIY mentality. The company counts Jeff Bezos among its backers and is prioritizing a vehicle that bucks a quarter-century of design, sizing, and preinstalled features to produce a truck so unique it really has to be seen to be believed. Why the excitement? |
- Well, let's talk price first: the vehicle should come in at under $20,000 after tax credits when it rolls out at the end of 2026, which is significantly cheaper than the cheapest thing in Tesla's lot, which goes for $35,000. It's a third of the price of the Cybertruck.
- The Kei-truck-style simplicity is compelling, as is its reported transformability: it has no infotainment system, the key elements of the dashboard run on knobs, and beyond stripping out distractions by yanking out any touch screens, Slate is avoiding the cause of 70% of repeat warranty claims.
- Also, it's minuscule in comparison to the Cybertruck's huge footprint, with a total length of 174.6 inches versus the Cybertruck's 223 inches. It's a lot less showy, that's for sure, but perhaps the Cybertruck has suffered from being a bit too showy.
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Americans monitoring the Chinese electric vehicle scene have had lots of reasons to be envious of the availability of cheap, powerful electric cars from the likes of BYD (which outstripped Tesla in revenue for the first time recently). In the US, that's not a market that really exists. If Slate can pull that off, all while reviving the DIY strain of American car culture, it sounds fun. |
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Stories we're obsessed with |
- Tariffs boost customs revenues to a new record: Powered by the first real wave of President Trump's tariffs, between April 1 and April 23, the US collected more in customs revenues than ever before, and April's not even over yet. Also, because of the Treasury's collection cycle, the April number reflects tariffs on only March imports! The latest figures roughly translate to average border tax revenues of $919 million per day — not quite the $3 billion daily figure that Trump's been touting, but still impressive. See the striking chart.
- Can the Las Vegas Sphere actually make money? Despite sold-out concerts from U2, members of the Grateful Dead, and the Eagles, the Las Vegas Sphere isn't profitable. Its parent company just struck a deal to stave off financial problems related to MSG Networks, but a big issue remains. These lines tell the Sphere's story.
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It was the best of timing and the worst of timing. Last month, it was the spring of hope, as USA Rare Earth went public via a SPAC merger, taking a major step toward breaking China's monopoly over many essential metals and magnets. Then Beijing banned exports of the exact metals and magnets USA Rare Earth aims to mine and manufacture. They had everything before them except… One big problem. |
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Crypto meets convenience. |
Want crypto exposure but don't want another investment account? No more coin flips: the Grayscale Bitcoin Mini Trust ETF (ticker: BTC) lets you get Bitcoin exposure from where you already invest. It's also the lowest-cost1 fund in the world (though brokerage fees may still apply). Start investing with a single share — just search for fund ticker BTC.2 Grayscale Bitcoin Mini Trust ETF ("BTC"), an exchange traded product, is not registered under the Investment Company Act of 1940 (or the '40 Act) and therefore is not subject to the same regulations and protections as 1940 Act registered ETFs and mutual funds. |
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- Monday: Earnings expected from Domino's
- Tuesday: March Job Openings and Labor Turnover Survey (JOLTS), April Consumer Confidence. Earnings expected from Coca-Cola, UPS, Pfizer, Royal Caribbean, Honeywell, Altria, Snap, Hilton, Caesars, First Solar, General Motors, Kraft Heinz, Corning, Starbucks, Spotify, JetBlue, PayPal, SoFi, AstraZeneca, and Visa
- Wednesday: March PCE (the Fed's preferred inflation gauge). Q1 GDP (first estimate). Earnings expected from Microsoft, Meta, Caterpillar, Qualcomm, MGM Resorts, Allstate, Prudential, Norwegian Cruise Line, Super Micro Computer, Yum! Brands, Garmin, eBay, and Robinhood*
- Thursday: April ISM Manufacturing Index. Earnings expected from Apple, Amazon, Eli Lilly, CVS Health, Estée Lauder, Hershey's, Live Nation, Mastercard, McDonald's, U.S. Steel, Roku, Amgen, Riot, Airbnb, Reddit, Roblox, Sirius XM, and MicroStrategy
- Friday: April jobs report. Earnings expected from ExxonMobil, Chevron, Wendy's, Cigna, Monster, and Fubo
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*Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company. |
Advertiser's disclosures:
1 BTC is low cost based on gross expense ratio at 0.15%. Brokerage fees and other expenses may still apply. 2 Please read the BTC prospectus carefully before investing in the Fund. Foreside Fund Services, LLC is the Marketing Agent for the Fund. Investing involves significant risk, including possible loss of principal. The Trust holds Bitcoin; however, an investment in the Trust is not a direct investment in Bitcoin. As a non-diversified and single industry fund, the value of the shares may fluctuate more than shares invested in a broader range of industries. Extreme volatility, regulatory changes, and exposure to digital asset exchanges may impact the value of Bitcoin and, consequently, the value of the Trust. Digital assets are not suitable for an investor that cannot afford the loss of the entire investment. There is no guarantee that a market for the shares will be available, which will adversely impact the liquidity of the Trust. The value of the Trust relates directly to the value of the underlying digital asset, the value of which may be highly volatile and subject to fluctuations due to a number of factors. There is no certainty that an active trading market for shares will develop or be maintained which will adversely affect the liquidity of shares of the Trust. |
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Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... See more |
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