If you had invested $10,000 into Peloton $PTON at its peak in January 2021 and held to today you'd currently have ... $174
Source: Evan, Ycharts
Hong Kong growth beat estimates by the most in 13 years in the first quarter.
Source: David Ingles, Bloomberg
Bearish Bets against the Japanese Yen rise to highest level in AT LEAST the last 18 years 🚨
Source: Barchart, Bloomberg
Apple $AAPL CEO Tim Cook during earnings conference:
Apple has “big plans to announce” from an “AI point of view” during its iPad event next week as well as at the company’s annual developer conference in June - CNBC
It's clear, Japan is intervening to support the Yen:
Twice this week, we saw the Yen fall to its weakest point against the US Dollar since 1990. This was the first time in 34 years that 1 US Dollar converted to 160 Yen. Immediately after the Yen neared 160 twice this week, we saw a steep drop in the conversion rate, strengthening the Yen. The BOJ reported Tuesday that its current account will fall 7.56 TRILLION YEN, or $48.2 billion USD. This was clearly due to intervention equating to 5.5 trillion Yen, which we last saw in 2022 and 2011. The third largest currency in the world is in trouble. Source: The Kobeissi Letter
Bitcoin $BTC ETFs saw a net outflow of $558 million on Wednesday, the largest outflow since inception
Source: JP Morgan, Bloomberg
US job openings dropped in March to the lowest level in 3 years.
US available vacancies declined to 8.49 million from 8.81 million in February, hitting the lowest level since March 2021. Job openings have been declining for the past 2 years since the March 2022 peak of 12 million vacancies. Meanwhile, the quits rate has fallen to 2.1%, the lowest since August 2020. This suggests that many currently employed individuals are either losing confidence and/or are more dependent on their jobs. All eyes are on Friday's jobs report. Source: The Kobeissi Letter
BREAKING: Apple $AAPL climbed 7% in extended trading after the company announces a $110 BILLION share buyback.
Apple reported quarterly revenue of $90.8 billion and EPS of $1.53, both of which were above expectations. However, revenue in Greater China was down by 8.1% and iPhone sales fell 10%. Apple did not provide formal guidance, but Apple CEO Tim Cook told CNBC’s Steve Kovach that overall sales would “grow low single digits” during the June quarter. Apple announced that its board had authorized $110 billion in share repurchases, a 22% increase over last year’s $90 billion authorization. It’s the largest in history, ahead of Apple’s previous repurchases, according to data from Birinyi Associates. Apple is the latest tech giant to announce a massive share buyback after $META and $GOOGL. We are on track to see over $1 trillion in share buybacks this year for the first time in history. Mixed earnings but buybacks are all the market wants. Source: The Kobeissi Letter
