Here's a full recap:
1. At the recent FOMC meeting, Federal Reserve Chairman Jerome Powell described the overall economy as strong, with solid labor market conditions that appear broadly balanced. Despite heightened economic uncertainty indicated by surveys and a lower 2025 GDP projection compared to December, Powell emphasized that the Fed is well-positioned to wait for greater clarity before adjusting its policy stance. He stated that the Fed is not in a hurry to cut rates, and could maintain policy restraint if the economy remains strong, or ease policy if the labor market weakens. Lastly, Powell noted that any reduction in the pace of the balance sheet runoff would mean slower but prolonged reductions, and he reiterated that the Fed is not rushing into rate cuts, even when asked about a potential May adjustment. The S&P 500 $SPX was up 1%.
2. Elon Musk's X has raised nearly $1 billion in a new equity funding round, maintaining its valuation at $32 billion. The acquisition of Twitter involved at least $12.5 billion in debt, indicating that the recent fundraising valued the company at an enterprise value of approximately $44 billion, consistent with Musk’s original purchase price.
3. Nvidia $NVDA has made a significant investment in synthetic data by acquiring Gretel, a startup specializing in this field, for a nine-figure sum that surpasses Gretel’s previous $320 million valuation, as reported by Wired. Gretel’s team and technology will be integrated into Nvidia to enhance the creation of AI training data, benefiting developers and customers.
4. EU antitrust regulators have instructed Apple $AAPL to open up its technology and mobile operating system to competitors. The directive aims to increase interoperability, requiring Apple to allow rival makers of smartphones, headphones, and virtual reality headsets to access its ecosystem.
5. Cantor Fitzgerald upgraded Tesla $TSLA to Overweight with a $425 price target, citing an attractive entry point after a factory visit, despite a 45% year-to-date stock decline. He highlighted upcoming catalysts like the Robotaxi launch in June 2025, FSD rollouts in China and Europe, a lower-priced vehicle in 1H25, Optimus Bot production in 2026, and Semi Truck production in 2H25. However, challenges include potential tariffs, EV tax credit removal, weak European demand, rising competition in China, and negative sentiment from Elon Musk’s politics, with Tesla expecting limited 2025 automotive growth but over 50% growth in Energy Storage. Sheppard remains bullish on Tesla’s long-term prospects driven by FSD, Robotaxi, Energy Storage, and Optimus Bot.
6. President Donald Trump announced that he completed a "very good" hour-long telephone call with Ukrainian President Volodymyr Zelenskyy on March 19, 2025. He noted that much of the discussion focused on aligning the requests and needs of Russia and Ukraine, building on a prior call with Russian President Vladimir Putin the previous day. Trump emphasized that progress is being made, stating, "We are very much on track," in efforts to address the ongoing conflict. He indicated that Secretary of State Marco Rubio and National Security Advisor Michael Waltz would provide a detailed and accurate summary of the conversation. Trump added that an official statement from Rubio and Waltz would be released shortly to elaborate on the points discussed during the call.
Comments