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Does your mom nag you about not calling enough? Well, a new AI app has got a solution for you! A grim new product has emerged, promising, "You can't call your parent every day — but we can." 404 Media tried out the app and the tester's mom weighed in with a warning, too. In other news, it's Tax Day. If you're grumbling about your bill, you're not alone. As this chart shows, only 46% of Americans said they felt that the income tax they'll pay this year is "fair," just barely above the record low. Tariff exemptions on consumer electronics announced Friday after the close helped fuel a rise in US stocks on Monday. The S&P 500 rose 0.8%, the Nasdaq 100 gained 0.6%, and the Russell 2000 advanced 1.1%. However, despite the risk-on tone, with all S&P 500 sectors moving higher, there was a defensive tone to the tape, with real estate, utilities, healthcare, and consumer staples leading the way higher. |
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LVMH Moët Hennessy Louis Vuitton SE, the juggernaut in the world of luxury fashion that claims some 75 brands under its bespoke, 100% Italian leather umbrella, saw shares drop more than 6% yesterday after reporting that sales came in lower than expected, down 2% and fueled by a 5% decline in its Fashion & Leather Goods business. You don't have to be a shopper at Louis Vuitton, Christian Dior, Fendi, Givenchy, or Tiffany & Co. to see the issue here. |
- The luxury business is a canary in the diamond mine, and softness in sales there may portend problems for the rest of the economy. If rich people with lots of disposable income are beginning to tighten the Birkin strings, they're probably not the only ones feeling a pinch.
- That's probably one reason shares of rivals like Kerin, Burberry, and Hermès also dipped on the day.
- Big purchases getting just slightly further out of reach may include nonessentials beyond these more specific luxuries: even things like the PlayStation 5 might be getting more expensive, especially after Sony jacked up the price of the console in Europe, Australia, and New Zealand.
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One fear about tariffs and other shakeups to the global economy is not only that they'll increase the prices of imported goods, but that the ramifications from those increases might diminish the health of the American consumer. If the rich are delaying the purchase of their new designer bags, that's a reason to fret. |
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Look below: Order books can have 20+ levels of quotes indicating supply and demand for a particular security. Going below the surface with depth-of-book data gives a view of other traders' buy and sell orders. Institutional investors use depth data to uncover new trading opportunities — and with Nasdaq TotalView, retail investors can too. TotalView's real-time depth data helps traders forecast potential price movements and follow pockets of liquidity as markets shift. Go deeper with Nasdaq TotalView. |
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It's not just rapper Doechii who's feeling anxiety these days, but most American consumers, who have hit historic levels of pessimism about the economy. In April, the University of Michigan's consumer sentiment index dropped to the second-lowest on record since the survey began in 1952. |
- What's in that new world order? Sentiment has plunged over 30% since December as "growing worries about trade war developments" risk tipping the economy toward recession, according to the release.
- New brands, no logos: At the heart of that anxiety? A sharp increase in cost expectations as President Trump's trade wars could send US tariff rates to 100-year highs. Consumers now anticipate prices will climb 6.7% over the next year, the highest expected change since 1981, as you can see in our chart.
- Can't shake it off of me: At the same time, labor market confidence is sliding, too. The share of consumers expecting unemployment to rise in the next year has more than doubled since November, to reach its highest level since 2009.
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The silver lining is that while anxiety keeps on trying us, so far, this pessimism hasn't fully borne out in actual economic data like retail sales or payroll, as Fed Chair Jerome Powell observed last week. But cracks may start to show — like data showing that more Americans are raiding their 401(k)s — as stock market turmoil rattles high-income households that have quietly propped up the economy. The share of credit card accounts making only minimum payments and those more than 90 days past due have also both reached record highs recently. |
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The past few weeks have been a rollercoaster as global tariffs shift and change rapidly, making it hard to figure out what the trade wars actually mean for companies, for the US, for consumers, and even for innovation. We spoke with Columbia Business School professor and supply chain expert Nicole DeHoratius to try and get some grounding. First question: What the hell is going on? |
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This company is taking on Big Pharma to fix one of their big failures |
Silicon Valley laughed. So Cytonics built a molecule that could become the first disease-modifying therapy for osteoarthritis — then, they democratized their endeavor by inviting "regular" people to invest. 25 patents. An estimated $393B global osteoarthritis market.1 If you're tired of crypto bros and vaporware, this one's for you. Invest in Cytonics.2 |
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Yesterday's Big Daily Movers |
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- Earnings expected from Bank of America, Citi, Johnson & Johnson, PNC, Albertsons, United Airlines, Interactive Brokers, and Rent the Runway
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Advertiser's disclosures:
1 The estimated global osteoarthritis (OA) market = TNF-alpha global sales x [ratio of OA prevalence to rheumatoid arthritis (RA) prevalence]. OA is 9x more common than RA. OA estimated market = $43B x 9 = $393B. 2 This is a paid advertisement for Cytonics Regulation A+ Offering. Please read the offering circular and related risks on the SEC website. Investing in private company securities is not suitable for all investors because it is highly speculative and involves a high degree of risk. It should only be considered a long-term investment. You must be prepared to withstand a total loss of your investment. Private company securities are also highly illiquid, and there is no guarantee that a market will develop for such securities. |
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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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