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@uifeed.com
Subscribed 4 years, 9 months ago
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Gas breaks $4 mark for first time since 2022, while Marvell spikes after Nvidia investment
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Hey Snackers,
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<p style="margin:0;margin-bottom:16px">
Good news, wannabe space explorers:
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Virgin Galactic
</strong>
</a>
announced that it’s
<a style="text-decoration: underline; color: #5869ff;">
<strong>
relaunching
</strong>
</a>
its space tourism program, which sent shares of the stock skyrocketing yesterday. If you’re itching to travel to space and aren’t an astronaut or friend with Lauren Sánchez Bezos, a ticket on Virgin’s spacecraft will cost you
<a style="text-decoration: underline; color: #5869ff;">
<strong>
at least $750,000
</strong>
</a>
.
</p>
<p style="margin:0;margin-bottom:16px">
The S&P 500, Nasdaq 100, and Russell 2000 surged and oil prices fell following
<strong>
</strong>
<a style="text-decoration: underline; color: #5869ff;">
<strong>
reports
</strong>
</a>
from Iranian state media that Iranian President Masoud Pezeshkian said the country has “the necessary will to end this war,” but would only do so with guarantees that “prevent the recurrence of aggression.”
</p>
<p style="margin:0;margin-bottom:16px">
Despite the S&P 500 posting
<a style="text-decoration: underline; color: #5869ff;">
<strong>
its best day since May
</strong>
</a>
on Tuesday, stocks had both a losing month and quarter, with the S&P 500 posting its largest quarterly loss since Q3 2022.
</p>
<p style="margin:0">
Every Magnificent 7 stock rose at least 2.9%, propelling the communications and information technology sectors to each gain over 4%, while energy and utilities were the only decliners.
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<strong>
What’s happening today:
</strong>
</h1>
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<li aria-level="1" style="Margin:0 0 8px 0">
Earnings expected from
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Conagra
</strong>
</a>
,
<strong>
</strong>
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Lamb Weston
</strong>
</a>
,
<strong>
</strong>
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Cal-Maine
</strong>
</a>
, and
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Tilray
</strong>
</a>
<strong>
</strong>
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
March ISM Manufacturing PMI
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
March ADP Nonfarm Employment Change
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
February retail sales
</li>
</ul>
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<strong>
PAIN AT THE PUMP
</strong>
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<h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:26px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:31px">
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Gas breaks $4 mark for first time since 2022
</strong>
</a>
</h1>
</td>
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<p style="margin:0">
The US national average gas price hit $4.018 a gallon on Tuesday, crossing the $4 threshold for the first time since August 2022, according to the
<a style="text-decoration: underline; color: #5869ff;">
<strong>
American Automobile Association
</strong>
</a>
. That’s roughly a 35% jump, or $1.04 more per gallon,
<a style="text-decoration: underline; color: #5869ff;">
<strong>
since the Iran war began
</strong>
</a>
.
</p>
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<ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
<li aria-level="1" style="Margin:0 0 8px 0">
Diesel has surged even more sharply, rising about
<strong>
45%
</strong>
to
<strong>
$5.45
</strong>
, raising concerns about
<a style="text-decoration: underline; color: #5869ff;" target="_self">
<strong>
higher shipping, grocery, and consumer goods prices
</strong>
</a>
.
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
With the Strait of Hormuz — through which roughly a fifth of global oil supply previously flowed — effectively closed, crude prices are up more than 50% since the war began,
<a style="text-decoration: underline; color: #5869ff;">
<strong>
feeding quickly into
</strong>
</a>
pump prices across the US.
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
Still, regional
<a style="text-decoration: underline; color: #5869ff;">
<strong>
differences
</strong>
</a>
remain, with drivers in California now facing nearly $5.90 a gallon for regular gasoline, followed by Hawaii ($5.50) and Washington ($5.30), while those in Oklahoma, Iowa, and Kansas pay under $3.30 a gallon.
</li>
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<td>
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<span class="tinyMce-placeholder" style="word-break: break-word;">
THE TAKEAWAY
</span>
</h1>
</td>
</tr>
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<td class="pad" style="padding-bottom:10px">
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<p style="margin:0;margin-bottom:16px">
We’re not at all-time high gas prices yet: that would be
<a style="text-decoration: underline; color: #5869ff;">
<strong>
$5.016 per gallon
</strong>
</a>
, a peak the US reached in June 2022, per AAA. Could we get there? Patrick De Haan, head of petroleum analysis at GasBuddy, told CNBC yesterday morning that prices
<a style="text-decoration: underline; color: #5869ff;">
<strong>
could even approach
</strong>
</a>
$5 nationwide if the strait remains blocked.
</p>
<p style="margin:0">
Currently, the market is hoping that it can trust the messaging from
<a style="text-decoration: underline; color: #5869ff;">
<strong>
state media in Iran
</strong>
</a>
, which reported the country is ready to end the war with certain guarantees, as well as signals from the US, with President Trump telling
<strong>
</strong>
<a style="text-decoration: underline; color: #5869ff;">
<strong>
the New York Post
</strong>
</a>
that the war in Iran wouldn’t last “much longer” and then the Strait of Hormuz would open “automatically.” Oil prices fell on Tuesday, and if they can sustain that direction, we may avoid a further springtime surge at the pump.
</p>
</div>
</td>
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</div>
</td>
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</table>
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<span style="word-break: break-word; line-height: 16.8px;">
<strong>
YOU LOOK MARVELL-OUS
</strong>
</span>
</span>
<!--[if mso]></center></v:textbox></v:roundrect><![endif]-->
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<h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:26px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:31px">
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Marvell spikes after Nvidia invests $2 billion in the custom chip maker
</strong>
</a>
</h1>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-4" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
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<td class="pad" style="padding-bottom:10px">
<div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
<p style="margin:0">
On Tuesday,
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Nvidia
</strong>
</a>
announced it’s investing $2 billion in
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Marvell
</strong>
</a>
, a custom chip company, as part of another strategic partnership. The pact will see Marvell “provide custom XPUs and NVLink Fusion-compatible scale-up networking,” a major step for Nvidia in demonstrating the willingness and the ability of its AI offerings to be deployed in concert with other companies’ products.
</p>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="list_block block-5" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word;color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px" width="100%">
<tr>
<td class="pad" style="padding-bottom:15px;padding-left:10px;padding-right:10px;padding-top:10px">
<div style="margin-left:-20px">
<ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
<li aria-level="1" style="Margin:0 0 8px 0">
In essence, Nvidia is ready for a world where data centers are composed of a mix of its GPUs as well as custom chips. Making sure those custom chips integrate well with its AI infrastructure platform will help maximize the dollars it receives for every gigawatt of data center capacity deployed.
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
This alliance builds on Nvidia CEO Jensen Huang’s
<a style="text-decoration: underline; color: #5869ff;">
<strong>
keynote address at the GPU Technology Conference
</strong>
</a>
, where he repeatedly stressed that the chip designer is both vertically integrated (that is, offers all the solutions you need, not just GPUs) and also horizontally open (read: willing to integrate its offerings into whatever your technology stack happens to be).
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
Nvidia’s
<a style="text-decoration: underline; color: #5869ff;">
<strong>
most recent strategic investment
</strong>
</a>
was in neocloud
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Nebius
</strong>
</a>
, also for
<strong>
$2 billion
</strong>
.
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
In addition, Nvidia recently
<a style="text-decoration: underline; color: #5869ff;">
<strong>
invested (you guessed it!) $2 billion apiece
</strong>
</a>
in advanced optics companies
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Coherent
</strong>
</a>
and
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Lumentum
</strong>
</a>
as part of deals that included purchase commitments (unlike this partnership with Marvell).
</li>
</ul>
</div>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-6" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
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<td class="pad" style="padding-bottom:10px">
<div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
<p style="margin:0;margin-bottom:16px">
Regardless of commitments, it’s a big vote of confidence in Marvell’s custom chip and networking business.
</p>
<p style="margin:0">
“Marvell is a marvelous investment,” Huang
<a style="text-decoration: underline; color: #5869ff;">
<strong>
said on CNBC on Tuesday
</strong>
</a>
, adding, “Been dying to say that.”
</p>
</div>
</td>
</tr>
</table>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
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<tr>
<td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-left:25px;padding-right:25px;vertical-align:top" width="100%">
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<h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:23px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:28px">
<span class="tinyMce-placeholder" style="word-break: break-word;">
THE TAKEAWAY
</span>
</h1>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
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<td class="pad" style="padding-bottom:10px">
<div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
<p style="margin:0">
Nvidia remains at the center of the AI trade, but it can’t thrive in isolation and needs the players in the massive AI build-out underway to play nice. Huang said the deals Nvidia is making are “an expansion of our ecosystem.” That ecosystem includes customers for its chips,
<a style="text-decoration: underline; color: #5869ff;">
<strong>
fiber-optics cables
</strong>
</a>
to transfer data at light speed, and data center companies like Nebius,
<a style="text-decoration: underline; color: #5869ff;" target="_self">
<strong>
Cipher Mining
</strong>
</a>
,
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Applied Digital
</strong>
</a>
, and
<a style="text-decoration: underline; color: #5869ff;">
<strong>
IREN
</strong>
</a>
, which all rose following the news.
</p>
</div>
</td>
</tr>
</table>
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Read more
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<span style="word-break: break-word; line-height: 16.8px;">
<strong>
THE BEST THING WE READ TODAY
</strong>
</span>
</span>
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</table>
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<a style="text-decoration: underline; color: #5869ff;">
<strong>
Allbirds, the once buzzy multibillion-dollar sneaker startup, is selling up for less than 1% of its 2021 valuation
</strong>
</a>
</h1>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-bottom:10px">
<div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
<p style="margin:0;margin-bottom:16px">
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Allbirds
</strong>
</a>
, the sustainable wool sneaker brand that went public at a more than $4 billion valuation just over four years ago, announced on Monday that it would sell its intellectual property and certain assets and liabilities to American Exchange Group for
<a style="text-decoration: underline; color: #5869ff;">
<strong>
just $39 million
</strong>
</a>
. Once favored by celebrities — from
<a style="text-decoration: underline; color: #5869ff;">
<strong>
brand investor
</strong>
</a>
Leonardo DiCaprio to pop star
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Camila Cabello
</strong>
</a>
— a series of missteps, including a failed foray into brick-and-mortar stores, has tripped up the sneaker company.
</p>
<p style="margin:0">
<a style="text-decoration: underline; color: #5869ff;">
<strong>
See Allbirds’ precipitous plunge
</strong>
</a>
<strong>
</strong>
</p>
</div>
</td>
</tr>
</table>
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<span style="word-break: break-word;">
</span>
</td>
</tr>
</table>
</div>
</td>
</tr>
</table>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
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<td>
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Presented by Nasdaq
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<strong>
How Index Options Broadened Horizons
</strong>
</h1>
</td>
</tr>
</table>
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<p style="margin:0;margin-bottom:16px">
Markets are more concentrated and more reactive than they were a decade ago. With retail participation rising and index options volume surging, benchmark-based derivatives are seeing more trading activity. That starts with the Nasdaq-100 Index
<sup>
®
</sup>
.
</p>
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Read the story on Sherwood
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<strong>
Snacks Shots
</strong>
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<ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
<li style="Margin:0 0 8px 0">
🏀
<strong>
NCAAW:
</strong>
The Final Four is in for the NCAA Women’s Tournament, and it came in as chalky as possible, with every No. 1 seed winning their respective corner of the bracket. UConn remains the team to beat with
<a style="text-decoration: underline; color: #5869ff;">
<strong>
a 61% chance* of winning it all
</strong>
</a>
.
</li>
<li style="Margin:0 0 8px 0">
🏀
<strong>
NCAAM:
</strong>
With Duke out of the running, Arizona and Michigan are locked in a duel to be the favorite of the NCAA Men’s Tournament, with
<a style="text-decoration: underline; color: #5869ff;">
<strong>
each team priced at a 34% chance
</strong>
</a>
of winning it all. Illinois has an 18% shot, and UConn — which dispatched tournament favorite Duke in a buzzer-beater finale — has a 13% chance of winning.
</li>
<li style="Margin:0 0 8px 0">
<strong>
♟️ Chess:
</strong>
We are in the midst of the FIDE Candidates Chess Tournament, and with Magnus Carlsen ineligible to compete right now, Fabiano Caruana has the edge, with markets pricing in a
<a style="text-decoration: underline; color: #5869ff;">
<strong>
56% chance the Italian-American grandmaster wins the tournament
</strong>
</a>
.
<strong>
</strong>
Javokhir Sindarov has the next best shot at 27%, while Hikaru Nakamura is a long shot at 8%.
</li>
</ul>
</div>
</td>
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</table>
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<p aria-setsize="-1" id="message-list_1761932419.092419" role="listitem" style="margin:0;margin-bottom:16px" tabindex="0">
</p>
<p style="margin:0;margin-bottom:16px">
*Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.
</p>
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<tbody>
<tr>
<td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-left:25px;padding-right:25px;vertical-align:top" width="100%">
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<h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:25px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:30px">
<span class="tinyMce-placeholder" style="word-break: break-word;">
What else we're Snackin'
</span>
</h1>
</td>
</tr>
</table>
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<tr>
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<div style="margin-left:-20px">
<ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
<li style="Margin:0 0 8px 0">
The FDA is expected to lift restrictions on
<a style="text-decoration: underline; color: #5869ff;">
<strong>
certain peptides
</strong>
</a>
<strong>
</strong>
<a style="text-decoration: underline; color: #5869ff;">
</a>
</li>
<li style="Margin:0 0 8px 0">
US Secretary of War Pete Hegseth’s broker reportedly attempted to make a
<a style="text-decoration: underline; color: #5869ff;">
<strong>
multimillion-dollar purchase
</strong>
</a>
of the
<a style="text-decoration: underline; color: #5869ff;" target="_self">
<strong>
iShares Defense Industrials Active ETF
</strong>
</a>
before the Iran war
</li>
<li style="Margin:0 0 8px 0">
Neocloud
<a style="text-decoration: underline; color: #5869ff;">
<strong>
CoreWeave
</strong>
</a>
closed a
<a style="text-decoration: underline; color: #5869ff;">
<strong>
unique financing deal
</strong>
</a>
yesterday to borrow $8.5 billion backed by its chips and
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Meta
</strong>
</a>
’s AI compute purchases
</li>
<li style="Margin:0 0 8px 0">
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Bitcoin
</strong>
</a>
treasury firm
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Nakamoto
</strong>
</a>
is in danger of being
<a style="text-decoration: underline; color: #5869ff;">
<strong>
delisted
</strong>
</a>
</li>
</ul>
</div>
</td>
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Snack Fact of the Day
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14 hours ago - hello@snacks.robinhood.com
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