A correlation breakdown:
Private equity stocks (Blackstone, KKR, Apollo, Carlyle) dropped 14.5% in just 3 weeks, while at the same time the S&P 500 just hit another high. What does it mean? Source: Jeff Weniger, Refinitiv
OpenAI valuation soars to $500bn, topping Musk’s SpaceX
Current and former OpenAI employees sold ~$6.6bn of stock to investors at a $500bn valuation, boosting the US company’s price tag well past its previous $300bn level. Source: HolgerZ, Bloomberg
While everyone is moving away from humans towards ai, hedge fund giant de shaw is doing the opposite and launching its first ever fund run by humans, not ai.
DE Shaw is raising as much as $5 Billion in its first Hedge Fund run by humans. The D.E. Shaw Cogence Fund will trade stocks and credit. Source: Bloomberg, Nishant Kumar @nishantkumar07, Gurgavin
Meme stocks continue to power higher since early-April lows, alongside other retail trader favorites; while classically-defensive baskets bring up the rear
Source: Liz Ann Sonders, Bloomberg
Should we consider this as a leading indicator?
Sotheby’s revenue from commissions and fees on sales fell -18% Profit before tax at Sotheby’s Holdings UK fell -21% Source: The Coastal Journal
Hope you all kept your kids' Pokemon cards...
Source: WSJ
Time to say goodbye to Uber jobs?
Source: Michel A.Arouet
Cattle Price jumps to new all-time 🚨📈🐮
Source: Barchart
