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   Daily 2026-04-03
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   Plus, that speech didn't do much to calm... anyone | Your Daily Brief is ready |
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               3:06 read time
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                 View in browser
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                      <div style="font-family:Trispace,monospace;font-size:12px;line-height:1.5;text-align:left;color:#7F879C;">
                       All metrics are as of the latest market close.
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                  <table border="0" cellpadding="0" cellspacing="0" role="presentation" style="" width="100%">
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                     <td align="left" class="s8">
                      <table border="0" cellpadding="0" cellspacing="0" style="color:#000000;font-family:Inter,sans-serif;font-size:13px;line-height:22px;table-layout:auto;width:100%;border:none;" width="100%">
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                         <td class="s24">
                          S&amp;P 500
                         </td>
                         <td class="s25">
                          0.09% ▲
                         </td>
                         <td class="s26">
                          6,582
                         </td>
                        </tr>
                        <tr>
                         <td class="s24">
                          GOLD
                         </td>
                         <td style="font-size:12px;color:#EA3459;font-weight:500;font-family:Trispace,monospace;width:30%;vertical-align:baseline;padding:10px 0 0 0">
                          2.46% ▼
                         </td>
                         <td class="s26">
                          $4,695
                         </td>
                        </tr>
                        <tr>
                         <td class="s24">
                          BITCOIN*
                         </td>
                         <td style="font-size:12px;color:#EA3459;font-weight:500;font-family:Trispace,monospace;width:30%;vertical-align:baseline;padding:10px 0 0 0">
                          1.57% ▼
                         </td>
                         <td class="s26">
                          $67,040
                         </td>
                        </tr>
                        <tr>
                         <td colspan="3" style="font-size:10px;font-family:Trispace,monospace;color:#7F879C;padding:0">
                          *24-hour change
                         </td>
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                         <td class="s24">
                          FTSE 100
                         </td>
                         <td class="s25">
                          0.69% ▲
                         </td>
                         <td class="s26">
                          10,436
                         </td>
                        </tr>
                        <tr>
                         <td class="s24">
                          BRENT OIL
                         </td>
                         <td class="s25">
                          7.53% ▲
                         </td>
                         <td class="s26">
                          $108.78
                         </td>
                        </tr>
                        <tr>
                         <td class="s24">
                          US BONDS*
                         </td>
                         <td class="s25">
                          0.02% ▼
                         </td>
                         <td class="s26">
                          4.31%
                         </td>
                        </tr>
                        <tr>
                         <td colspan="3" style="font-size:10px;font-family:Trispace,monospace;color:#7F879C;padding:0">
                          *10-year government yield
                         </td>
                        </tr>
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                      </p>
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</td></tr></table>
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                 <div style="font-family:Inter,sans-serif;font-size:14px;font-weight:700;line-height:1.5;text-align:left;color:#181c25;">
                  WALL STREET FEAR GAUGE INDEX 
(
                  <a style="font-weight:400;font-family:Trispace,monospace">
                   VIX
                  </a>
                  )
                 </div>
                </td>
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                    <td style="width:536px;">
                     <img alt="Wall Street Fear Gauge Index" class="s11" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Ffinimize-img.imgix.net%252Fhttps%253A%252F%252Fimages.bannerbear.com%252Fdirect%252F7Q4rjJzQn7vZo8qPOx%252Frequests%252F000%252F139%252F749%252F715%252FNxmo39RaVQ9v5OopYAOe2Ewg5%252F59b9b84d11a09dfec6f49640a2ecd63073ddce9b.png%253Ffit%253Dclip%2526h%253DNone%2526ixlib%253Dpython-3.1.2%2526w%253D768%2526s%253D58ef76d5d852da65d5f4c7eb3b98558f/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZmaW5pbWl6ZS1pbSIsInRpbWUiOjE3NzUxNjk1NzMuNDk0ODM3OH0:1w8QhJ:ms-BlgWP8V1cBu1XLvtwiT6cB5agoZ3BXMkOl8SXzl8" width="536"/>
                    </td>
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                     <td align="left" class="s31">
                      <div class="s32">
                       <p data-block-key="10zqs">
                        Folks, we're taking a break for a few days. We'll miss you too, but don't worry: we'll be back before you know it. In the meantime, here's a little something to tide you over until we get back...
                        <a>
                         🥚
                        </a>
                       </p>
                       <p data-block-key="5ifss">
                        🛢 With no end in sight, the war is causing market chaos
                       </p>
                       <p data-block-key="2d82p">
                        ✨ Amazon’s eyeing a deal with satellite operator Globalstar
                       </p>
                       <p data-block-key="5o0jk">
                        📉 Smart tips to remember when markets are selling
off
                       </p>
                       <p data-block-key="f5pmk">
                        <b>
                         👇 Keep reading to find out more
                        </b>
                       </p>
                      </div>
                     </td>
                    </tr>
                   </tbody>
                  </table>
                 </td>
                </tr>
               </tbody>
              </table>
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             <!--[if mso | IE]>
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<![endif]-->
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                  <div style="font-family:Inter,sans-serif;font-size:14px;font-weight:bold;line-height:1.5;text-align:left;text-transform:uppercase;color:#204CE9;">
                   <mj-raw>
                    <span class="s20">
                     👀
                    </span>
                    <span class="s21">
                     Today's headlines
                    </span>
                   </mj-raw>
                  </div>
                 </td>
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                <tr>
                 <td align="left" class="s14">
                  <div class="s34">
                   <mj-raw>
                    <span class="s35">
                     That… Escalated
                    </span>
                   </mj-raw>
                  </div>
                 </td>
                </tr>
                <tr>
                 <td align="center" class="s5">
                  <table border="0" cellpadding="0" cellspacing="0" class="s9" role="presentation">
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                    <tr>
                     <td class="s10">
                      <a target="_blank">
                       <img alt="That… Escalated" class="s11" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Ffinimize-img.imgix.net%252Fhttps%253A%252F%252Fchivas-assets.s3-eu-west-1.amazonaws.com%252Fstatic%252Fimages%252FEditorial-020426-escalation.original.png%253Ffit%253Dcrop%2526h%253D600%2526ixlib%253Dpython-3.1.2%2526w%253D1200%2526s%253Df0a4c24342eed70b658e2ef2b5e23764/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZmaW5pbWl6ZS1pbSIsInRpbWUiOjE3NzUxNjk1NzMuNDk0OTgxM30:1w8QhJ:1_J78OglsLgUHI8xWC3GeLQFvzrg4g4HFXtqGH3l-dQ" width="568"/>
                      </a>
                     </td>
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                 <td align="left" class="s5">
                  <div class="s32">
                   <p data-block-key="ql5vq">
                    <b>
                     What’s going on here?
                    </b>
                   </p>
                   <p data-block-key="c9qmu">
                    Market unrest was even unrest-ier on Thursday, after a Wednesday night address from the US president that offered no clear timeline for resolving the war in Iran.
                   </p>
                   <p data-block-key="a4g06">
                    <b>
                     What does this mean?
                    </b>
                   </p>
                   <p data-block-key="bp7cb">
                    World leaders gathered – without the American president – on Thursday to talk through how best to reopen the
Strait of Hormuz after the conflict ends. But talk may be the best they can do at the moment. In the meantime, investors have been staring down a three-day weekend of geopolitical turmoil, with few market safe havens to turn to.
                   </p>
                   <p data-block-key="b8vv1">
                    <b>
                     Why should I care?
                    </b>
                   </p>
                   <p data-block-key="2dcae">
                    <b>
                     <i>
                      For markets:
                     </i>
                    </b>
                    <i>
                     Behind the eight ball.
                    </i>
                   </p>
                   <p data-block-key="e2pva">
                    You can usually expect a classic 60/40 portfolio – with 60% in stocks and 40% in bonds – to stand up
to turbulence. When one falls, the other
                    <i>
                     should
                    </i>
                    rise.
                   </p>
                   <p data-block-key="1lmra">
                    🔻 But bonds and stocks have been sliding together over the past month, leaving investors with few obvious places to park their money.
                   </p>
                   <p data-block-key="1b6sn">
                    🔻 Even the price of gold, a traditional inflation hedge, has slipped around 14% since the war began.
                   </p>
                   <p data-block-key="7rkbn">
                    🔺 So far, energy is one of the only clear winners.
                   </p>
                   <p data-block-key="7ftod">
                    <b>
                     <i>
                      Zooming out:
                     </i>
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                    <i>
                     Beware the “s-word”.
                    </i>
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                   <p data-block-key="b950a">
                    Investors’ big long-term worry is stagflation – the horrible combo of slow growth and high inflation. See, energy shocks like this can lead to sticky overall inflation: workers push for more pay to cover their cost of living, firms raise prices in response, and higher costs spread through the wider economy. A run of steep price increases tends to crush demand and – in turn – economic activity, stifling growth.
                   </p>
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                    ⚠️
US stock markets will be closed on Friday – but the country’s monthly jobs report will still be released, which could serve up another jolt for jittery investors. So don’t be surprised if markets are choppy on Monday, too.
                   </p>
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                    Until 5 April 2026, you can
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                    ETPs inside a Stocks &amp; Shares ISA – with tax‑free gains and full FCA oversight.
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do
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Insight here
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                   <mj-raw>
                    <span class="s20">
                     👀
                    </span>
                    <span class="s21">
                     Today's headlines
                    </span>
                   </mj-raw>
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                  <div class="s34">
                   <mj-raw>
                    <span class="s35">
                     Prime Directive
                    </span>
                   </mj-raw>
                  </div>
                 </td>
                </tr>
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                      <a target="_blank">
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                  <div class="s32">
                   <p data-block-key="96gsw">
                    <b>
                     What’s going on here?
                    </b>
                   </p>
                   <p data-block-key="ano89">
                    <b>
                     Amazon
                    </b>
                    is reportedly in talks to buy satellite operator
                    <b>
                     Globalstar
                    </b>
                    , a move that would speed up its effort to build a network that rivals
                    <b>
                     SpaceX’s
                    </b>
                    Starlink.
                   </p>
                   <p data-block-key="bds8h">
                    <b>
                     What does this mean?
                    </b>
                   </p>
                   <p data-block-key="bd19p">
                    So far, Starlink is winning the internet-in-space race: its fleet of 9,500+ satellites dwarfs
the 200 or so in Amazon’s Leo program. Buying Globalstar wouldn’t put Amazon in the same league, but it would give the firm a new network of 48 satellites – and a bunch of enterprise, government, and regular customers.
                   </p>
                   <p data-block-key="6vnoa">
                    🔺 Globalstar’s shares jumped 9% on the news – but the deal’s not confirmed yet. See,
                    <b>
                     Apple
                    </b>
                    owns 20% of Globalstar and has 85% of its network capacity reserved for iPhone satellite messaging. So Amazon will probably need to negotiate with Apple
first.
                   </p>
                   <p data-block-key="2qo80">
                    <b>
                     Why should I care?
                    </b>
                   </p>
                   <p data-block-key="c2r7s">
                    <b>
                     <i>
                      The bigger picture:
                     </i>
                    </b>
                    <i>
                     Keep on keepin’ on.
                    </i>
                   </p>
                   <p data-block-key="6etms">
                    Amazon’s bid for Globalstar fits into a broader pattern: companies pushing ahead with massive strategic acquisitions despite – or maybe because of – the volatile market backdrop.
                   </p>
                   <p data-block-key="45tgp">
                    🔺 Even with the war in the Middle East and a huge jump in energy costs, a record
                    <i>
                     22
                    </i>
                    deals were priced
above $10 billion in the first quarter of this year. That helped push the global total up to $1.2 trillion.
                   </p>
                   <p data-block-key="b7j11">
                    ► In fact, wild markets may be creating some urgency: nobody knows what’s coming, and things could get worse, so companies may decide to just act now rather than wait and see.
                   </p>
                   <p data-block-key="98t1f">
                    <b>
                     <i>
                      Zooming (way) out:
                     </i>
                    </b>
                    <i>
                     Space… the final frontier.
                    </i>
                   </p>
                   <p data-block-key="7ia9p">
                    Amazon’s Jeff Bezos, SpaceX’s Elon Musk, and
                    <b>
                     OpenAI’s
                    </b>
                    Sam Altman are all dreaming about building AI data centers in space. That could sidestep Earthly constraints, like the availability of land and power – although getting these structures into orbit and repairing them once they’re there would be stupidly expensive. Space-based computing may not be shaping Amazon’s valuation today – but what sounds like sci-fi now might not in the future.
                   </p>
                  </div>
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                   <a>
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        <!--[if mso | IE]>
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                   <mj-raw>
                    <span class="s20">
                     ✨
                    </span>
                    <span class="s21">
                     ​​​​​​​​​​​​​​​​​​​​​​​​​Sarah's Digest
                    </span>
                   </mj-raw>
                  </div>
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                   Rivian topped Q1 delivery forecasts and kept its full-year target intact, setting up for a lower-priced R2 launch and a long-term Uber robotaxi plan.
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                   <mj-raw>
                    <span class="s20">
                     🖋️
                    </span>
                    <span class="s21">
                     Quote of the day
                    </span>
                   </mj-raw>
                  </div>
                 </td>
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               </tbody>
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</td></tr><tr><td class="" width="600px">
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<![endif]-->
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                <tr>
                 <td align="left" class="s5">
                  <div class="s32">
                   <strong>
                    "Go slow to go fast; really figure out what specifically is your thing and stick to that."
                   </strong>
                   – Jennifer Garner (an American actress and entrepreneur)
                  </div>
                 </td>
                </tr>
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<![endif]-->
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<![endif]-->
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                   <mj-raw>
                    <span class="s20">
                     🎯
                    </span>
                    <span class="s21">
                     On Our Radar
                    </span>
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<![endif]-->
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              <table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%">
               <tbody>
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                   <tbody>
                    <tr>
                     <td align="left" class="s31">
                      <div class="s32">
                       <p data-block-key="aaghi">
                        <b>
                         1. Apple turns 50.
                        </b>
                        And employee Chris Espinosa has been there
                        <a>
                         the whole time
                        </a>
                        .
                       </p>
                       <p data-block-key="9qrro">
                        <b>
                         2. Don’t hate the player.
                        </b>
                        Oh look, AI is
                        <a>
                         ruining something else
                        </a>
                        .
                       </p>
                       <p data-block-key="88q6a">
                        <b>
                         3. It’s a-me, Mario Mario.
                        </b>
                        New movie is 98 minutes of
                        <a>
                         “Hey, I remember that level”
                        </a>
                        .
                       </p>
                       <p data-block-key="emepa">
                        <b>
                         4. Timey-wimey capsule.
                        </b>
                        Two lost episodes of
                        <a>
                         <i>
                          Doctor Who
                         </i>
                        </a>
                        have been found.
                       </p>
                      </div>
                     </td>
                    </tr>
                   </tbody>
                  </table>
                 </td>
                </tr>
               </tbody>
              </table>
             </div>
             <!--[if mso | IE]>
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<![endif]-->
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        <!--[if mso | IE]>
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   <!--[if mso | IE]>
</td></tr></table>
<table align="center" border="0" cellpadding="0" cellspacing="0" class="" role="presentation" style="width:600px;" width="600"><tr><td style="line-height:0px;font-size:0px;mso-line-height-rule:exactly;">
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                     🎤
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                    <span class="s21">
                     Finimize Live
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                   </mj-raw>
                  </div>
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             <!--[if mso | IE]>
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                       <p data-block-key="27pvh">
                        🐦 Early bird pricing for the
                        <a>
                         <b>
                          Modern Investor Summit
NYC
                         </b>
                        </a>
                        ends soon. Grab
                        <a>
                         your ticket here
                        </a>
                        🎟️
                       </p>
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              Stay classy, Sarah 😉 This issue of the Daily Brief was curated by
              <a style="color:inherit;font-weight:inherit">
               Russell
              </a>
              and
              <a style="color:inherit;font-weight:inherit">
               Linda
              </a>
              . Got an idea? A question?
              <a>
               Get in touch
              </a>
              .
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                     💌
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                    <span class="s21">
                     THAT WAS GREAT FOR US... HOW WAS IT FOR YOU?
                    </span>
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<![endif]-->
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                 <a class="s42" target="_blank">
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                  Just alright
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            </td>
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                   😒
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                  ...Meh
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            </td>
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