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Subscribed 3 years, 11 months ago
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<td style="font-size:0px;word-break:break-word;">
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<div style="font-family:'General Grotesque', Arial;font-size:13px;line-height:1;text-align:center;color:#000000;">
Last Week’s Market Moves
</div>
</td>
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<td style="font-size:0px;word-break:break-word;">
<div style="height:20px;line-height:20px;">
</div>
</td>
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<td align="left" class="desktop marketIndices" style="font-size:0px;padding:0;word-break:break-word;">
<table border="0" cellpadding="0" cellspacing="0" style="color:#000000;font-family:'General Grotesque', Arial;font-size:13px;line-height:22px;table-layout:auto;width:100%;border:none;" width="100%">
<tr>
<td>
<span class="text" style="font-family: 'General Grotesque', Arial; font-size: 13px; line-height: 22px; padding: 0;">
Dow Jones
<br/>
<span style="font-family: 'General Grotesque Bold', Arial; font-weight: 700;">
33,763
<span style="color: rgb(0, 200, 5);">
(+2.02%)
</span>
</span>
</span>
</td>
<td>
<span class="text" style="font-family: 'General Grotesque', Arial; font-size: 13px; line-height: 22px; padding: 0;">
S&P 500
<br/>
<span style="font-family: 'General Grotesque Bold', Arial; font-weight: 700;">
4,282
<span style="color: rgb(0, 200, 5);">
(+1.83%)
</span>
</span>
</span>
</td>
<td>
<span class="text" style="font-family: 'General Grotesque', Arial; font-size: 13px; line-height: 22px; padding: 0;">
Nasdaq
<br/>
<span style="font-family: 'General Grotesque Bold', Arial; font-weight: 700;">
13,241
<span style="color: rgb(0, 200, 5);">
(+2.04%)
</span>
</span>
</span>
</td>
<td>
<span class="text" style="font-family: 'General Grotesque', Arial; font-size: 13px; line-height: 22px; padding: 0;">
Bitcoin
<br/>
<span style="font-family: 'General Grotesque Bold', Arial; font-weight: 700;">
$27,215
<span style="color: rgb(0, 200, 5);">
(+1.84%)
</span>
</span>
</span>
</td>
</tr>
</table>
</td>
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<table border="0" cellpadding="0" cellspacing="0" style="color:#000000;font-family:'General Grotesque', Arial;font-size:13px;line-height:22px;table-layout:auto;width:100%;border:none;" width="100%">
<tr>
<td>
<span class="text" style="font-family: 'General Grotesque', Arial; font-size: 13px; line-height: 22px; padding: 0;">
Dow Jones
<br/>
<span style="font-family: 'General Grotesque Bold', Arial; font-weight: 700;">
33,763
<span style="color: rgb(0, 200, 5);">
(+2.02%)
</span>
</span>
</span>
</td>
<td>
<span class="text" style="font-family: 'General Grotesque', Arial; font-size: 13px; line-height: 22px; padding: 0;">
S&P 500
<br/>
<span style="font-family: 'General Grotesque Bold', Arial; font-weight: 700;">
4,282
<span style="color: rgb(0, 200, 5);">
(+1.83%)
</span>
</span>
</span>
</td>
</tr>
<tr>
<td>
<span class="text" style="font-family: 'General Grotesque', Arial; font-size: 13px; line-height: 22px; padding: 0;">
Nasdaq
<br/>
<span style="font-family: 'General Grotesque Bold', Arial; font-weight: 700;">
13,241
<span style="color: rgb(0, 200, 5);">
(+2.04%)
</span>
</span>
</span>
</td>
<td>
<span class="text" style="font-family: 'General Grotesque', Arial; font-size: 13px; line-height: 22px; padding: 0;">
Bitcoin
<br/>
<span style="font-family: 'General Grotesque Bold', Arial; font-weight: 700;">
$27,215
<span style="color: rgb(0, 200, 5);">
(+1.84%)
</span>
</span>
</span>
</td>
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<td style="direction:ltr;font-size:0px;padding:27px 10px;text-align:center;">
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<div style="font-family:'General Grotesque', Arial;font-size:16px;font-weight:400;line-height:24px;text-align:left;color:#000000;">
<p>
<strong>
Hey Snackers,
</strong>
</p>
<p>
More stressful than an oversized carry-on:
<strong>
<a rel="noopener" style="color: #26A19B; text-decoration: underline; font-weight: bold; text-decoration-thickness: 2px; text-underline-offset: 1px;" target="_blank">
Air New Zealand
</a>
</strong>
plans to start
<a rel="noopener" style="color: #26A19B; text-decoration: underline; font-weight: bold; text-decoration-thickness: 2px; text-underline-offset: 1px;" target="_blank">
weighing
</a>
passengers before they board international flights. It said weight data will stay anonymous, but it sounds like a new fear has been unlocked.
</p>
<p>
Stocks popped last week after Congress passed a debt-limit deal and the May jobs report came in stronger than expected. Over the weekend, President Biden signed the bill to suspend the debt ceiling, averting a US default at the eleventh hour.
</p>
</div>
</td>
</tr>
<tr>
<td align="left" style="font-size:0px;padding:0;word-break:break-word;">
<div style="font-family:'General Grotesque', Arial;font-size:16px;font-weight:400;line-height:24px;text-align:left;color:#000000;">
<strong>
Btw...
</strong>
Do you want to start getting Snacks daily? Or prefer to unsubscribe? Manage your subscription preferences
<a rel="noopener" style="color: #26A19B; text-decoration: underline; font-weight: bold; text-decoration-thickness: 2px; text-underline-offset: 1px;" target="_blank">
here
</a>
.
</div>
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<p style="border-top:solid 1px #e3e9ed;font-size:1px;margin:0px auto;width:100%;">
</p>
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<img alt="" border="0" height="1" src="https://inboxflows.com/_/image/https%253A%252F%252Fsg.robinhood.com%252Fwf%252Fopen%253Fupn%253Dq-2FZ-2F8R4uR3lRXK3PO4ZkVk-2BZt1SqpCIyBv-2FIozTjk2VNN3eQssMFJBT95MovldJRAD-2B8M6NBt78kQNCup8O-2BaCvP1d2tDyZniM2xvFBpM0gVrcgU1y7-2B6KSIhECs7cnUDNrFRAtrLw0ooZIoMRvAv8QklJECf3rnMsgrQyoqU5ovSTvvoi33MuuhviLH3DXDQNJkhW8Bk0IhLxfl-2F4L6tHTKoRiL9XzZB3oiyH-2FVZhIN-2FqlFHgJT584CJn4gLmr3xmtdJ9MOzR6GIw7YgMzAmFlAm-2BgXiKTnR8FS7gUK-2FB9VUCUfIyB9TcA-2FjUcohmCRdSGzeuEPNZAIexKHw-2BTk9zHT-2BBvCAz8G87nk7pwFFuPXvgc9F7L3R5BrM6BzQO8DS65a3hJhOSHsTbVYvB1jSDI0K-2Fbdq-2F-2FBk872yOFE2olfcLt8NZ-2BYJWOtVQH2wByk7tEc-2FC0mzq22FvRwMXNjX27I-2FmvD0K9ryJXh6-2FyZ-2Bywt3MGjf-2BoTCUWd9bLeIz-2Fe5mbzwxBnwQ391W6zZqN8NIjH-2FFqzq9WTGPhgtXn2XmuioTCryxE3v4YvvFWWKRBnF6-2Bcr67BWWRoFnCn4yDNow-3D-3D/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzZy5yb2JpbmhvbyJ9:1q696Y:N-VjXExrt6LQK4j5N4_4OVto0qT6DYoea6A46qg0mfA" style="height:1px !important;width:1px !important;border-width:0 !important;margin-top:0 !important;margin-bottom:0 !important;margin-right:0 !important;margin-left:0 !important;padding-top:0 !important;padding-bottom:0 !important;padding-right:0 !important;padding-left:0 !important;" width="1"/>
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<div style="font-family:'General Grotesque', Arial;font-size:13px;line-height:15px;text-align:left;color:#000000;">
<div style="font-family: 'General Grotesque Bold', Arial; font-weight: 700; letter-spacing: 0.03em; text-transform: uppercase; color: #000000; padding: 6px 19px; border-radius: 30px; border: 0; background-color:#62E5DA; display: inline-block;">
Shades
</div>
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<div style="font-family:'General Grotesque Bold', Arial;font-size:24px;font-weight:700;line-height:32px;text-align:left;color:#000000;">
<p>
Apple could resurrect the metaverse with a headset, but it’s a risky (and overdue) bet
</p>
</div>
</td>
</tr>
<tr>
<td align="left" style="font-size:0px;padding:0;word-break:break-word;">
<div style="font-family:'General Grotesque', Arial;font-size:16px;font-weight:400;line-height:24px;text-align:left;color:#000000;">
<p>
<strong>
Party like it’s 2021…
</strong>
<strong>
<a rel="noopener" style="color: #26A19B; text-decoration: underline; font-weight: bold; text-decoration-thickness: 2px; text-underline-offset: 1px;" target="_blank">
Apple
</a>
</strong>
<a rel="noopener" style="color: #26A19B; text-decoration: underline; font-weight: bold; text-decoration-thickness: 2px; text-underline-offset: 1px;" target="_blank">
could
</a>
tap back into tech’s old New Big Thing: the metaverse. At its annual software conference this week Apple is expected to reveal long-awaited details of its mixed-reality (both VR and AR) headset. It would be the company’s first new major product line since 2014’s Apple Watch — and has been called Tim Cook’s riskiest move as CEO.
</p>
<ul style="padding-left: 18px;">
<li style="margin-bottom: 12px;">
<p>
<strong>
The rumored $3K price tag
</strong>
is steep, about 6X the cost of
<strong>
<a rel="noopener" style="color: #26A19B; text-decoration: underline; font-weight: bold; text-decoration-thickness: 2px; text-underline-offset: 1px;" target="_blank">
Meta
</a>
</strong>
's recently announced $500 Quest 3 and roughly 3X the price of Sony’s PSVR2 (including the PS5 needed to use it). Analysts expect fewer than 500K Apple headset shipments in year one.
</p>
</li>
<li style="margin-bottom: 12px;">
<p>
<strong>
Standout specs
</strong>
could include a live POV view-sharing feature called “copresence,” 4K displays, and screens on the front of lenses that digitally display users’ eyes (not creepy at all).
</p>
</li>
<li style="margin-bottom: 12px;">
<p>
<strong>
Keep in mind:
</strong>
Apple is rumored to have been developing the device for seven years, and it faces pressure to release it before its hardware becomes outdated.
</p>
</li>
</ul>
<p>
<strong>
Virtual reality bites…
</strong>
There have been better moments to jump into the metaverse as companies reroute their virtual-world investments into the new buzzword: AI.
<strong>
<a rel="noopener" style="color: #26A19B; text-decoration: underline; font-weight: bold; text-decoration-thickness: 2px; text-underline-offset: 1px;" target="_blank">
Disney
</a>
</strong>
shut down its metaverse strategy division this year, and
<strong>
<a rel="noopener" style="color: #26A19B; text-decoration: underline; font-weight: bold; text-decoration-thickness: 2px; text-underline-offset: 1px;" target="_blank">
Microsoft
</a>
</strong>
scaled back its team building AR goggles. Globally, VR/AR device shipments fell 12% to fewer than 10M last year, while Sony’s new headset badly missed its launch-window sales target of 2M units. Use of the tech has been mostly limited to gaming. And consumers have yet to embrace face gadgets (flops include
<strong>
<a rel="noopener" style="color: #26A19B; text-decoration: underline; font-weight: bold; text-decoration-thickness: 2px; text-underline-offset: 1px;" target="_blank">
Google
</a>
</strong>
Glass,
<strong>
<a rel="noopener" style="color: #26A19B; text-decoration: underline; font-weight: bold; text-decoration-thickness: 2px; text-underline-offset: 1px;" target="_blank">
Snap
</a>
</strong>
Spectacles).
</p>
</div>
</td>
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<td align="left" style="font-size:0px;padding:0;padding-top:18px;word-break:break-word;">
<div style="font-family:'General Grotesque', Arial;font-size:16px;font-weight:700;line-height:0;text-align:left;color:#000000;">
<table>
<tbody>
<tr>
<td style="padding: 0 8px 0 0; height: 17px;">
<img height="17px" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.robinhood.com%252Fmarketsnacks_assets%252Fv2%252Ftakeaway-black.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4ucm9iaW5obyJ9:1q696Y:1HrjEIKDYwK5Ybc8GTlgRXLS4JqCnhFoy_mcg9g2fTA" width="17px"/>
</td>
<td style="font-family: 'General Grotesque Bold', Arial; width: 100%; padding: 0; height: 17px; line-height: 0; padding-top: 1px;">
THE TAKEAWAY
</td>
</tr>
</tbody>
</table>
</div>
</td>
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<td align="left" style="font-size:0px;padding:0;word-break:break-word;">
<div style="font-family:'General Grotesque', Arial;font-size:16px;font-weight:400;line-height:24px;text-align:left;color:#000000;">
<p>
<strong>
It can pay to be late…
</strong>
to a party that hasn’t started. Apple has shown it can expand (and define) the markets that it enters (see: iPhone, Apple Watch). Its interconnected ecosystem of iProducts and famously sleek design could give it an edge, letting it set a standard and compete for market share. But it’s risky: Apple has apparently poured billions into its headset project, and failure would smudge its reputation (and dent profits).
</p>
</div>
</td>
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<td align="center" class="light" style="font-size:0px;padding:10px 25px;padding-top:24px;padding-right:0;padding-bottom:24px;padding-left:0;word-break:break-word;">
<p style="border-top:solid 1px #e3e9ed;font-size:1px;margin:0px auto;width:100%;">
</p>
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Zoom Out
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<p>
Stories we’re watching
</p>
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<p>
<strong>
Not dryer-shrunk jeans…
</strong>
“Retail shrink” (the loss of inventory) is a
<a rel="noopener" style="color: #26A19B; text-decoration: underline; font-weight: bold; text-decoration-thickness: 2px; text-underline-offset: 1px;" target="_blank">
growing
</a>
problem in the US, and retailers are blaming rising theft.
<strong>
Target
</strong>
recently said that organized retail crime would lead to $500M more in losses this year.
<strong>
Dollar Tree
</strong>
,
<strong>
Home Depot
</strong>
,
<strong>
T.J. Maxx
</strong>
, and others have cited shrink and theft as a hit to profits. FYI: shrink cost retailers $95B in 2021. In December,
<strong>
Walmart
</strong>
said rising theft could even lead to store closures. Now retailers are bulking up precautions (think: more items behind glass).
</p>
<p>
<strong>
Brands get “Bud Lighted”...
</strong>
This Pride Month is off to a tumultuous start for several companies. Last month Bud Light faced backlash after transgender influencer Dylan Mulvaney posted about beer that the
<strong>
AB InBev
</strong>
-owned brand had sent her. Bud sales fell by as much as 40% in some Southern markets.
<strong>
Target
</strong>
and
<strong>
Kohl’s
</strong>
have been boycotted because of their Pride merch, and Target pulled some products over threats to employees. Lots of companies still plan to move forward with their Pride plans, including Coors Light’s Denver Pride Parade.
</p>
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Events
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<p>
Coming up this week
</p>
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<p>
<strong>
The soup’s hot…
</strong>
<strong>
Campbell
</strong>
's is set to report Wednesday, and the 153-year-old canned-soup icon's been on a roll since shoppers started snapping up pandemic pantry staples. Before Covid, its sales were falling. In Q2, its sales grew 12% as consumers kept stocking its snacks like Goldfish and Milanos, despite price hikes (FYI: half of US consumers now eat 3+ snacks/day). But as Big Foodies like Campbell,
<strong>
Pepsi
</strong>
, and
<strong>
Kraft
</strong>
get accused of profit-padding prices, snackers could scale back on brand names.
</p>
<p>
<strong>
Never an outfit repeater…
</strong>
<strong>
Rent the Runway
</strong>
could drop ’Gram-worthy results this week as shoppers pay to rent their fits and keep things fresh. In April, RTR posted record revenue and subscribers after adding an extra item to its monthly subscription. Meanwhile,
<strong>
Urban Outfitters
</strong>
' Nuuly rental service more than doubled sales last year, and Urban thinks it could become a $1B biz. While RTR has yet to turn a profit, rentals are trending up: the value of the digi-fashion rental market is expected to 2X to nearly $3B by 2030.
</p>
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ICYMI
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<div style="font-family:'General Grotesque Bold', Arial;font-size:24px;font-weight:700;line-height:32px;text-align:left;color:#000000;">
<p>
Last week's highlights
</p>
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<div style="font-family:'General Grotesque', Arial;font-size:16px;font-weight:400;line-height:24px;text-align:left;color:#000000;">
<ul style="padding-left: 18px;">
<li style="margin-bottom: 12px;">
<p>
<strong>
<a rel="noopener" style="color: #26A19B; text-decoration: underline; font-weight: bold; text-decoration-thickness: 2px; text-underline-offset: 1px;" target="_blank">
IOU
</a>
:
</strong>
The US debt deal will end the pandemic pause on student-loan payments, after three years, restarting repayments (and interest accrual) for millions of borrowers in August. The average paused balance = $37K.
</p>
</li>
<li style="margin-bottom: 12px;">
<p>
<strong>
<a rel="noopener" style="color: #26A19B; text-decoration: underline; font-weight: bold; text-decoration-thickness: 2px; text-underline-offset: 1px;" target="_blank">
Jet
</a>
:
</strong>
From
<strong>
Tesla
</strong>
's Elon Musk to
<strong>
JPMorgan
</strong>
's Jamie Dimon, America’s top CEOs are flocking back to China for the first time in years. US-China relations are at a low point, but big biz can’t detach.
</p>
</li>
<li style="margin-bottom: 12px;">
<p>
<strong>
<a rel="noopener" style="color: #26A19B; text-decoration: underline; font-weight: bold; text-decoration-thickness: 2px; text-underline-offset: 1px;" target="_blank">
Sus
</a>
:
</strong>
<strong>
Delta
</strong>
has been sued over its carbon-neutrality claims, with plaintiffs arguing that its carbon offsets are “junk.” There’s growing backlash against the unregulated offsets market, which Greenpeace has labeled a scam.
</p>
</li>
</ul>
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</p>
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<td style="direction:ltr;font-size:0px;padding:0 10px 18px 10px;text-align:center;">
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<div style="font-family:'General Grotesque Bold', Arial;font-size:24px;font-weight:700;line-height:32px;text-align:left;color:#000000;">
What else we're Snackin'
</div>
</td>
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<td align="left" style="font-size:0px;padding:0;padding-top:12px;word-break:break-word;">
<div style="font-family:'General Grotesque', Arial;font-size:16px;font-weight:400;line-height:24px;text-align:left;color:#000000;">
<ul style="padding-left: 18px;">
<li style="margin-bottom: 12px;">
<p>
<strong>
<a rel="noopener" style="color: #26A19B; text-decoration: underline; font-weight: bold; text-decoration-thickness: 2px; text-underline-offset: 1px;" target="_blank">
Check
</a>
:
</strong>
Low-income workers have made historic earnings gains during the pandemic, narrowing the wage gap between lower and higher earners. A labor shortage sparked the trend, but it could soon slow.
</p>
</li>
<li style="margin-bottom: 12px;">
<p>
<strong>
<a rel="noopener" style="color: #26A19B; text-decoration: underline; font-weight: bold; text-decoration-thickness: 2px; text-underline-offset: 1px;" target="_blank">
Icy
</a>
:
</strong>
The hottest new home amenity: cold plunges that can cost tens of thousands of dollars. Freezing dipping pools are part of a wellness trend as spa amenities become must-haves in bougie backyards.
</p>
</li>
<li style="margin-bottom: 12px;">
<p>
<strong>
<a rel="noopener" style="color: #26A19B; text-decoration: underline; font-weight: bold; text-decoration-thickness: 2px; text-underline-offset: 1px;" target="_blank">
Precious
</a>
:
</strong>
Once a paper mill,
<strong>
<a rel="noopener" style="color: #26A19B; text-decoration: underline; font-weight: bold; text-decoration-thickness: 2px; text-underline-offset: 1px;" target="_blank">
Albemarle
</a>
</strong>
became the most valuable lithium producer after investing $6B nearly a decade ago on a hunch that the metal used in EV batteries would pop off. TL;DR: it was right.
</p>
</li>
</ul>
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</div>
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<td style="direction:ltr;font-size:0px;padding:24px 24px 24px 24px;text-align:center;">
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<div style="font-family:'General Grotesque Bold', Arial;font-size:24px;font-weight:700;line-height:32px;text-align:left;color:#000000;">
Want your Snacks daily?
</div>
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<td align="left" style="font-size:0px;padding:0;padding-bottom:8px;padding-left:0;word-break:break-word;">
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</td>
<td style="font-family: 'General Grotesque Bold', Arial; width: 100%; padding: 0; line-height: 0; vertical-align: middle; padding-top: 1px;">
The Daily Newsletter
</td>
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🚸
<a rel="noopener" style="color: #26A19B; text-decoration: underline; font-weight: bold; text-decoration-thickness: 2px; text-underline-offset: 1px;" target="_blank">
Amazon’s privacy fines
</a>
• Jun 2, 2023
<br/>
🇨🇳
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Elon’s China trip
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• Jun 1, 2023
<br/>
🌳
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Sustainability side-eye
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• May 31, 2023
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Nvidia’s trillion-dollar biz started as an idea at a Denny’s
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This Week
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<ul style="padding-left: 18px;">
<li style="margin-bottom: 12px;">
<p>
<strong>
Monday:
</strong>
Apple WWDC keynote. Earnings expected from
<strong>
GitLab
</strong>
and
<strong>
Sprinklr
</strong>
</p>
</li>
<li style="margin-bottom: 12px;">
<p>
<strong>
Tuesday:
</strong>
Earnings expected from
<strong>
Cracker Barrel
</strong>
,
<strong>
Dave & Buster's
</strong>
,
<strong>
J.M. Smucker
</strong>
, and
<strong>
Stitch Fix
</strong>
</p>
</li>
<li style="margin-bottom: 12px;">
<p>
<strong>
Wednesday:
</strong>
Earnings expected from
<strong>
Campbell Soup
</strong>
,
<strong>
GameStop
</strong>
, and
<strong>
Rent the Runway
</strong>
</p>
</li>
<li style="margin-bottom: 12px;">
<p>
<strong>
Thursday:
</strong>
Jobless claims. Earnings expected from
<strong>
DocuSign
</strong>
,
<strong>
Planet Labs
</strong>
,
<strong>
Signet Jewelers
</strong>
,
<strong>
Toro
</strong>
, and
<strong>
Vail Resorts
</strong>
</p>
</li>
<li style="margin-bottom: 12px;">
<p>
<strong>
Friday:
</strong>
Earnings expected from
<strong>
Nio
</strong>
</p>
</li>
</ul>
<p>
Authors of this Snacks own shares of: Apple, Delta, Disney, Google, Kraft Foods, Nvidia, Planet Labs, Tesla, Walmart, Snap, and Microsoft
</p>
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2 years ago - noreply@robinhood.com
…and Target and Walmart take a hit from rising retail theft Tim cooking up a headset? (Justin Sul...