⁠Wall St Engine
$GOOGL Waymo has hit 10 million fully driverless rides, per CNBC — doubling its lifetime total in just five months. https://t.co/tMZq5xhs1U
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⁠Wall St Engine
Wolfspeed $WOLF is reportedly preparing to file for bankruptcy within weeks, per WSJ. The company is said to be working toward a prepackaged Chapter 11 plan.
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⁠Wall St Engine
CNN is reporting that Israel is planning an attack on Iranian nuclear facilities - Reuters
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⁠Quiver Quantitative
Representative Mark Pocan asked the SEC chair if there would be investigations into trades made around tariff announcements: https://t.co/IUYX6aBvhM
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⁠The All-In Podcast
Chamath on sending his kids to college: Culture > Credentials

@friedberg:

"As a parent, I think a lot about, so much of education in America in the middle class, upper class is all about what college, how do you get them there?"

"And honestly, lately I'm like, I don't think they should go to college."

@chamath:

" My son is a rising junior and his entire focus is he wants to go to an SEC school because of the culture."

" And two years ago I would've panicked and I would've thought, should I help him get into a school? This school, that school?"

"And now I'm like, that's actually the best thing you could do."

"Be socially well-adjusted. Psychologically, deal with different kinds of failures, you know?"

Friedberg:

"Enjoy a few years of exploration."

Chamath:

"Yeah."
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⁠Wall St Engine
IMF’s Gita Gopinath says U.S. fiscal deficits are “too large” and the debt-to-GDP ratio is “ever-increasing,” urging Washington to adopt a fiscal policy that brings debt down over time.
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⁠Wall St Engine
The U.S. Senate just passed the No Tax on Tips Act with a unanimous 100-0 vote. The bill lets tipped workers in certain industries deduct 100% of tips earned, up to $25,000.
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⁠Wall St Engine
Today's Key Events (All EST) — 05/21/2025

All Day: G7 Finance Summit
07:00: US MBA Mortgage Applications
12:15: Fed's Barkin
13:00: US 20-Year Bond Auction

Before Open 👇
01:00: $WIX.com
02:00: Golden Ocean $GOGL
04:00: Baidu $BIDU
04:00: iQIYI $IQ
04:30: WeRide $WRD
05:00: Full Truck Alliance $YMM
05:00: Weibo $WB
06:00: Lowe's $LOW
06:00: XPeng $XPEV
06:30: Target $TGT
06:45: Canada Goose $GOOS
06:45: Medtronic. $MDT
06:55: VF Corp. $VFC
07:00: Dycom $DY
07:30: $TJX
07:55: Super Hi $HDL

After Hours 👇
16:05: Snowflake $SNOW
16:05: Zoom $ZM
16:05: $AMSC
16:05: Urban Outfitters $URBN
16:05: $DOMO
16:15: EnerSys $ENS
16:25: Banco BBVA Argentina $BBAR
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⁠Wall St Engine
Marks & Spencer says last month’s cyberattack will knock £300M off operating profit this year. Online clothing and home sales remain suspended and won’t fully recover until July.
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⁠Wall St Engine
Kraft Heinz is reviewing strategic options to boost value, with no set timeline. Berkshire Hathaway is also stepping off the board but keeps its 27% stake. Demand remains soft, and guidance was cut last month. CEO says review's been in motion for months.
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⁠Wall St Engine
$NVDA CEO Jensen Huang says U.S. AI chip export curbs to China were a "failure"—costing billions in lost sales and cutting Nvidia’s China market share from 95% to 50% since the Biden administration began.

Huang called competition in China "intense" and estimates the country’s AI market will hit $50B next year. He praised Trump’s plan to revise export rules, saying, “President Trump realizes it’s exactly the wrong goal.”
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⁠Wall St Engine
JAPAN PM ISHIBA: SELLING JAPAN CARS MADE IN US ONE WAY TO CUT SURPLUS
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⁠Wall St Engine
Bookings for shipments from China to the U.S. more than doubled to 228K TEUs in the week of May 12, right after the 90-day tariff truce kicked in. Spot rates from Shanghai to LA jumped 16% to $3,136 per FEU. https://t.co/cPZtpxlA6z
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⁠Wall St Engine
Super Micro $SMCI plans to expand server production in the U.S. as AI demand surges, CEO Charles Liang tells WSJ. The company’s eyeing sites in Texas and Mississippi due to rising costs in Silicon Valley. https://t.co/mduoUUPqVS
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⁠Wall St Engine
FORD TO SHARE BATTERY PLANT WITH NISSAN

Ford $F is scaling back EV ambitions again, letting Nissan use part of its Kentucky battery plant, per WSJ. The plant, backed by a $9.6B DOE loan, was mostly idle. Ford lost $5B on EVs in 2024 and expects the same this year amid slow demand and tariff pressure.
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