The Daily Recap

Key Topics

• Insider buy on Tesla
• Trade negotiations and tariffs
• Earnings preview for major tech companies
• Toronto meetup recap

Insider Buy on Tesla

• First insider purchase since November 2020
• Joseph Gbia bought 4,000 shares at $256.31
  • Purchase valued at approximately $1 million
• Tesla earnings were poor, but autonomous vehicle regulation news boosted stock
• Tesla insiders typically sell rather than buy
• Model 3 in the US now offers 0% APR with a 10% discount, indicating possible desperation

Trade Negotiations and Tariffs

Scott Bent's Comments

• Confident about reaching a deal with China
• Discussed the importance of the US consumer market for China
• EU concerned with the euro's strength, likely to cut rates
• Possible first trade deal with India soon

Howard Lutnik's Role

• Scheduled to speak on CNBC
• Expected to support Bent's statements

Auto Tariff Updates

• Trump expected to lower auto tariffs
• Tariffs on cars and parts from other countries might see reductions

Earnings Preview

• Major earnings reports expected from SoFi, PayPal, Robinhood, Meta, Amazon, Microsoft, Apple
• SoFi earnings to be closely watched
• Tesla's recent performance influenced by news on autonomous vehicles

Toronto Meetup

• Successful event with around 170 attendees
• Next meetup planned for Houston, Texas at the end of May

Market Reactions

• Markets reacted positively to Bent's comments about trade deals
• Increase in ETF inflows for Bitcoin as bullish signs emerge

Miscellaneous Updates

• MicroStrategy bought more Bitcoin
• Nvidia's stock affected by news of Huawei's AI chip development
• Anticipation for updates on tariffs and trade deals

Conclusion

• Insightful comments on trade and tariffs suggest possible market movements
• Earnings this week could influence market direction
• Upcoming announcements and earnings to be closely monitored