Markets
Broad retreat in global equities. $WMT revived inflation fears similar to the numerous occasions since second half last year. It Walmart spending is getting impacted, what wouldn’t? $Gold eyes $3,000/ounce as central banks continue to seek a secure store of value.
Headlines
• Stock market today: S&P 500 falls as Walmart warning fuels economic jitters
$WMT guidance spurs fear that inflation will soon hit the top line.
• US vaccine advisory meeting postponed after Kennedy takes top health job
• US Army Corps revising list of energy emergency projects to fast-track
Army Corps of Engineering will tend to 600 projects first under Trump’s executive order.
• US opens probe into whether to rescind $4 billion in California high-speed rail grants
The $4b was rewarded under Biden administration. Trump has critisized the project of ballooning costs. Previously in 2019, Biden restored a $929m grant revoked by Trump.
• Palantir stock extends losses on report of defense budget cut
• Alibaba stock surges as Chinese tech giant touts ‘robust’ AI momentum
• GameStop CEO Ryan Cohen hikes his personal stake in Alibaba to $1 billion, WSJ says
• Chinese smartphone firm Oppo launches slim $1,870 folding phone to rival Samsung, Huawei
MKBHD reviewed it positively too.
• Citigroup joins corporate retreat from diversity initiatives
Claims the figure $55b in savings is far from truth, and is more like $9b.
• U.S. Stops Arms Sales to Ukraine
• Musk Moves to ‘Fix’ X’s Community Notes Amid Integrity Concerns
