My morning practice WFH reads:
• Trump’s First 100 Days Leaves S&P 500 With Worst Drop Since 1974: He promised a markets increase. 100 days in, Shares have solely seen injury. (Bloomberg)
• Visitors on the Port of Los Angeles set to plunge amid tariffs: Arrivals will drop by 35% as primarily all shipments out of China for main retailers and producers have ceased, and cargo popping out of Southeast Asia areas is way softer than regular,” in keeping with Government Director Gene Seroka for the Los Angeles Board of Harbor Commissioners. (Los Angeles Instances). see additionally Trump’s Tariffs Are Coming for Your Chili Crisp: What is going to occur to the Chinese language grocery retailer? (The Atlantic) see additionally Product shortages and empty retailer cabinets loom with falling shipments from China: Companies have been canceling orders for merchandise from China after Trump imposed a 145% tariff on most Chinese language imports, risking product shortages for American shoppers. (NBC)
• A Reckoning for the Magnificent Seven Exams the Market: Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla are collectively off to their worst begin because the 2022 slide, worrying buyers… even after a rally this previous week, the Magnificent Seven are off to their worst begin to a yr because the 2022 slide… Every inventory has fallen greater than 6.5%, and so they have collectively misplaced $2.5 trillion in market worth.” • (Wall Road Journal)
• Who Will Be the Subsequent Larry Fink? Constancy and GSAM are among the many managers utilizing an rising strategy to energetic that could possibly be as disruptive as BlackRock’s deal for iShares. (Institutional Investor)
• Star Inventory Pickers Should Now Beat Their Clones: Traders in the present day can choose low-cost ETFs that comply with the methods of profitable fund managers reminiscent of Will Danoff. (Bloomberg)
• The bubble that created Trump is the rationale he’s stumbling: The White Home is now a bubble the place loyalty, not skill, defines success. (Washington Publish)
• Flats for Lease in a Former Workplace, however You Need to Reside in Midtown: The developer behind reworking Pfizer’s former headquarters in Midtown Manhattan into about 1,600 residences is hoping younger individuals received’t care in regards to the space’s lack of a neighborhood. (New York Instances)
• How one can have pals previous age 30: A fast and easy information. Particular person friendships are nice. However most individuals don’t simply need one-on-one interactions — we would like a gang of pals who all hang around collectively. (Noahpinion)
• Which cities have essentially the most bushes? See how yours stacks up. Why some U.S. cities are a lot greener than others. (Washington Publish)
• Damian Lillard’s Merciless Damage Spells the Finish for the Bucks—and Giannis: A devastating harm has boxed Milwaukee into an unenviable nook. As painful because it may be, the writing is on the wall. It’s time to commerce Giannis Antetokounmpo this summer season. (The Ringer)
Remember to take a look at our Masters in Enterprise this week with Jeff Becker, Chairman and CEO of Jennison Associates (a division of PGIM). The agency was based in 1969. Previous to becoming a member of Jennison in 2016 as CEO, Becker was CEO of Voya Funding Administration.
Trump Promised a Markets Increase. 100 Days In, Shares Have Solely Seen Harm.
Supply: Bloomberg
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