📊 Iger's Magic Keeps Disney Alive

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» Powell emphasizes need for solid inflation data before rate cuts, signaling potential adjustments later this year based on sustained progress. Decisions hinge on incoming data and achieving 2% inflation target. (link)

» Apple's ($AAPL) pivot to home robotics sparks curiosity and excitement, signaling a potential expansion beyond its traditional product lines. With a focus on AI-driven innovation, these projects hint at a dynamic future for Apple in consumer tech. (link)

» Disney ($DIS) CEO Bob Iger celebrates victory as shareholders reject Nelson Peltz's board bid, reinforcing confidence in Iger's governance strategies. Peltz's push for change fell short, with Disney stock experiencing temporary turbulence despite overall year-to-date growth. (link)

» Amazon's ($AMZN) Just Walk Out tech relied on 1,000+ Indian contractors for video annotation, revealing the pivotal role of human workers in training AI. This sparks scrutiny from regulators like the SEC, emphasizing AI portrayal accuracy. (link)

» Levi Strauss ($LEVI) shifts focus to direct-to-consumer channels, reducing reliance on wholesalers as department stores decline. Despite net loss, Levi's exceeds Wall Street expectations, projecting increased full-year profits as direct sales aim for 55% of revenue. (link)

» Ulta's largest stock drop since March 2020 reflects concerns of slowing beauty industry demand, affecting Elf Beauty ($ELF), Estee Lauder ($EL), and Coty stocks ($COTY). CEO David Kimbell attributes the downturn to increased credit card debt and resumed student loan payments, indicating cautious consumer spending. (link)

» Boeing's ($BA) new chairman, Steve Mollenkopf, is opting for direct talks with CEOs of major US airlines, like American ($UAL), Southwest, United ($LUV), and Alaska Airlines ($ALK), bypassing formal meetings to tackle confidence issues and management turmoil. This move aims to mend relations and steer Boeing through challenges, notably those related to the 737 Max jetliner problems. (link)

» In March, the US private sector saw its fastest job growth since July 2023, adding 184,000 positions, exceeding the Dow Jones forecast of 155,000. Wages surged, with a 5.1% yearly increase for job incumbents and a 10% rise for job switchers, underscoring strong labor market conditions despite prior worries about inflation. (link)

» Bonds recovered from early lows as Fed Chair Jerome Powell reaffirmed a cautious stance, stabilizing markets amid hopes for future rate cuts. However, stocks like Intel ($INTC) and Disney ($DIS) faltered, reflecting Wall Street's mixed reaction to the Fed's wait-and-see approach on interest rates. (link)

Major ($10bn+) earnings releases scheduled the next five business days 👇 Click here for a comprehensive list of upcoming earnings releases

Results from yesterday’s economic releases & today’s schedule below 👇 Click here for full schedule & live updates of Wall Street estimates.

“Challenges are gifts that force us to search for a new center of gravity. Don’t fight them. Just find a new way to stand.”

Oprah Winfrey