OVERVIEW
The Weekend Rip

tenor

It was a dynamic last week for the best investing in May since before I was born. Inflation, consumer data, and Nvidia earnings pushed the market higher, while tariff tensions pulled investors out of their glee. It’s nearly two months into the three-month pause on massive worldwide tariffs. Musk left the White House to finally return to Tesla, with a self-driving launch slated June 12th in Austin. Buckle up. 📉 

Let’s recap and prep you for the week ahead. 📝

◀️ On Monday, the market remained closed in reverence for Memorial Day. Thank you to all the brave men and women who have served the United States, and those who gave their lives so that we may be free.

🌏️ On Tuesday, the market rebounded after Trump delayed EU tariff hikes following weekend talks with EU trade chief Maros Sefcovic. Consumer confidence numbers bounced after a five-month decline. AMC $AMC ( ▲ 4.09% ) hit Memorial Day weekend records, drawing 7M moviegoers from Thursday through Monday. Lilo & Stitch and Mission: Impossible drove strong premium screen sales. Footwear stocks rallied as Nike, Designer Brands, Deckers Outdoor, and Dick’s Sporting Goods climbed on consumer confidence and Trump’s tariff postponement.

⚡️ On Wednesday, Nvidia $NVDA ( ▼ 2.92% ) reported an earnings beat, but a second adjusted EPS missed estimates due to a $4.5B charge from the H20 chip export ban. Q1 revenue hit $44.06B, above estimates of $43.34B. Data Center revenue reached $39.1B (+73% YoY), slightly below projections. Gaming revenue surged to $3.8B, surpassing the $2.8B estimate. Nvidia expects further losses of $8B from chip bans but issued still somehow upbeat guidance. GameStop $GME ( ▲ 0.78% ) spent $512M on Bitcoin purchases after announcing a $1.5B capital raise for crypto holdings. Macy’s cut full-year profit outlook despite surpassing Q1 estimates.

🐂 On Thursday, the market whiplashed after the Court of International Trade ruled Trump overstepped his authority on tariffs, ordering a pause. A federal appeals court upheld the tariffs while the administration seeks Supreme Court intervention. Nvidia rallied post-earnings. Tesla $TSLA ( ▼ 3.34% ) gained momentum ahead of its planned Austin self-driving car launch. Pension fund investors demanded Musk dedicate 40+ hours per week to Tesla leadership. Treasury yields fell as revised Q1 GDP data showed a 0.2% contraction, beating the expected 0.4% decline. Jobless claims rose to 240,000 from 226,000. Investors are eyeing April PCE inflation data for further economic signals.

😢 On Friday, the market dipped slightly, wrapping up May with the S&P 500 up 6.15%—its best May performance in over 30 years. Trump and Musk held a White House farewell event, where Musk received a ceremonial key. Inflation PCE data came in just shy of the Fed’s control target. Core PCE rose 2.5% YoY, marking the smallest increase in four years. Trade data showed U.S. imports plunged, driving the trade deficit 45% lower. Trump accused China of violating a preliminary trade deal, reigniting tariff concerns. Trump announced 50% tariffs on foreign steel, prompting possible pushback from China and the EU. Palantir $PLTR ( ▲ 7.73% ) hit records after reports of new IRS and Social Security contracts.

🤩 This week’s Stocktwits Top 25 showed outperformance vs. the indexes.

Here are the closing prices and weekly changes: 

PRESENTED BY STOCKTWITS
🟢 Introducing the Stocktwits Sentiment Index

 Wall Street watches the $VIX for expected volatility.

Stocktwits traders have the Stocktwits Sentiment Index, which measures retail investor emotion and updates daily after close.

Today’s Takeaway:

📈 Retail caution is rising, as the latest Stocktwits Sentiment Index reading signals heightened fear.

Remember:

• The $VIX is based on the options market’s near-term volatility expectations.

• The Stocktwits Sentiment Index is based on what retail traders are feeling and signaling right now.

• Combining both gives traders a smarter, earlier read on market shifts.

P.S. The Stocktwits Sentiment Index is currently only available on Desktop, on the Stocktwits homepage.

THE BRIEF

Need a concise summary of what’s going on this week? Look no further. Here’s a rundown of this week’s earnings and economic data.

Economic Calendar

It’s a busy week of economic data, with investors focused on the Friday Jobs Data.

In addition to the above, check out this week’s complete list of economic releases.

Earnings This Week

Earnings season is slowing down, with just 91 stocks reporting this week.

Above is a quick summary. Check out the full Stocktwits earnings calendar for the other names reporting this week.

Links That Don’t Suck 🌐

📰 Want to find the next big AI stock? IBD Digital has everything you need—save $55+ today *

💉 FDA approves new Moderna COVID-19 vaccine

🟥 The rare minerals battle behind Rubio’s ban on Chinese students

🛢️ OPEC+ oil producers stick to their guns with another big hike for July

🤖 Meta plans to replace humans with AI to assess privacy and societal risks

⚠️ Iran Builds Up Near Weapons-Grade Uranium Stockpile Despite Nuclear Talks

👷 EU ‘prepared to impose countermeasures’ after Trump doubles steel tariffs to 50%

*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here.

Get In Touch 📬

Follow our social channels for great, real-time content on Stocktwits and Twitter. And check out our YouTube channel for in-depth video content! 📲

Help us deliver the best content possible by completing this brief survey. 📝

Email me (Kevin Travers) your feedback; follow me on Stocktwits. I’d love to hear from you. 📧

Want to sponsor this newsletter and reach hundreds of thousands of passionate investors and traders? Reach us here. 👍

Terms & Conditions 📝

Securities Disclaimer: STOCKTWITS IS NOT A TAX ADVISOR, BROKER, FINANCIAL ADVISOR OR INVESTMENT ADVISOR. THE SERVICE IS NOT INTENDED TO PROVIDE TAX, LEGAL, FINANCIAL OR INVESTMENT ADVICE, AND NOTHING ON THE SERVICE SHOULD BE CONSTRUED AS AN OFFER TO SELL, A SOLICITATION OF AN OFFER TO BUY, OR A RECOMMENDATION FOR ANY SECURITY. Trading in such securities can result in immediate and substantial losses of the capital invested. You should only invest risk capital, and not capital required for other purposes. You alone are solely responsible for determining whether any investment, security or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. You should also consult an attorney or tax professional regarding your specific legal or tax situation. The Content is to be used for informational and entertainment purposes only and the Service does not provide investment advice for any individual. Stocktwits, its affiliates and partners specifically disclaim any and all liability or loss arising out of any action taken in reliance on Content, including but not limited to market value or other loss on the sale or purchase of any company, property, product, service, security, instrument, or any other matter. You understand that an investment in any security is subject to a number of risks, and that discussions of any security published on the Service will not contain a list or description of relevant risk factors. In addition, please note that some of the stocks about which Content is published on the Service have a low market capitalization and/or insufficient public float. Such stocks are subject to more risk than stocks of larger companies, including greater volatility, lower liquidity and less publicly available information. Read the full terms & conditions here. 🔍

Author Disclosure: The author of this newsletter does not hold positions in any of the securities or assets mentioned. 📋