📣 Microsoft $MSFT said today it plans to invest $1.7 Billion Indonesia 🇮🇩 over the next 4 years to build new cloud and AI infrastructure - CNBC

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🇦🇷 Argentine peso was the world's best currency in the last 3 months, per Bloomberg

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🇺🇸 US debt will equal 123% of GDP in 2034, per Bloomberg.

Debt at that level would mean servicing costs reach close to 5.4% of GDP — more than 1.5 times as much as what the federal government spent on national defense in 2023, and comparable to the entire Social Security budget.

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🇺🇸 US consumer confidence hits lowest level since July 2022

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📣 Gold Has Hit a Record High, But Warren Buffett Still Says Don’t Invest In It

The CEO of Berkshire Hathaway has a famously negative opinion of gold investing, having once written in a letter to shareholders that the metal has “two significant shortcomings, being neither of much use nor procreative…If you own one ounce of gold for an eternity, you will still own one ounce at its end.”

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🇺🇸 DEA to reclassify marijuana as a less dangerous drug

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Currency against US Dollar, past year.

🇯🇵 Japan: -15.6%
🇮🇩 Indonesia: -10.6%
🇹🇭 Thailand: -9.2%
🇲🇾 Malaysia: -6.8%
🇹🇼 Taiwan: -6.1%
🇨🇳 China: -4.5%
🇵🇭 Philippines: -4.5%
🇰🇷 South Korea: -3.3%
🇸🇬 Singapore: -2.3%
🇮🇳 India: -2.1%

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📣 Microsoft signs deal to invest more than $10 billion on renewable energy capacity to power data centers

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🇸🇦 BlackRock to Get $5 Billion From PIF to Boost Presence in Saudi Arabia, per Bloomberg.

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🚨🚨🚨 JUST IN: #Google lays off hundreds of 'core' employees and is moving some positions to India and Mexico for cheaper costs.

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🇺🇸 SUMMARY OF FED CHAIR POWELL'S STATEMENT (5/1/24):

1. Inflation has eased but remains too high

2. Further progress on inflation is not assured and path is uncertain

3. Inflation data this year has been higher than expected

4. Rate cuts not appropriate until "greater confidence" over inflation

5. Balance sheet reduction to be lowered by $35 billion per month

6. Rate cuts are likely to take longer than expected

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🇮🇳 India will overtake 🇯🇵 Japan in nominal GDP in 2025 and become 4th largest economy in the world with a GDP of $4.34 trillion. (IMF)

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🇺🇸 UNITED STATES: #CNBC reports that McDonald's and other brands warn that 'low-income consumers are starting to crack'.

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