WE'RE IN THE GREEN
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NEWS
WE’RE IN THE GREEN
Streamer Jerma Walking Weird – tenor
The market closed up for the year Tuesday, if even just by +0.08%. Enthusiasm followed Monday tariff cuts to highs not seen since February, as the Mag Seven added nearly $1T in market cap. CPI inflation numbers Tuesday morning also came in low, showing the smaller YoY increase since before inflation really got going back in 2021.
Nvidia’s market cap closed over $3 trillion for the first time since Feb. 26th. 👀
Today’s issue covers Palantir Makes Records With Airtaxis, and Maybe Saudi AI, War Dogs 2 Sends MilTech And Semi’s Flying, and BTC’s Dominance Is Tanking, And That’s Ok. 📰
Here’s the S&P 500 heatmap. 6 of 11 sectors closed green, with tech $XLK ( ▲ 0.65% ) leading and healthcare $XLV ( ▼ 2.35% ) lagging.
S&P 500 Map – finviz
Here are the closing numbers for indexes and the ETFs that track them:
S&P 500 $SPY ( ▲ 0.13% ) 5,887
Nasdaq 100 $QQQ ( ▲ 0.6% ) 21,198
Russell 2000 $IWM ( ▼ 0.89% ) 2,102
Dow Jones $DIA ( ▼ 0.23% ) 42,140
STOCKS
Palantir Makes Records With Airtaxis, and Maybe Saudi AI 🚁
Palantir surged Tuesday to close at a record $128/share. The military contractor and AI giant made the news today after CEO Alex Karp brushed elbows with other tech royalty while meeting Saudi Arabian Crown Prince Mohammed bin Salman at the Saudi Arabia Investment Forum.
The White House said the Saudis are investing $600 B in the U.S., including a nearly $142B arms deal for U.S. Defense Firms.
The news dropped on the same day air taxi manufacturer Archer Aviation announced that it’s teaming up with Palantir to use AI to improve a range of its aviation systems during its Q1 earnings results. $ACHR ( ▲ 6.09% ) rallied after the announcement and earnings beat.
Bank of America raised its price target to $150, citing Palantir’s ability to deploy AI-enabled products at scale. Check out more on the Saudi deal below.
U.S. consumer inflation rose 2.3% year-over-year in April, coming in below expectations and marking the lowest annual increase since 2021. The monthly CPI rose 0.2%, driven by higher shelter and energy costs, while food prices declined slightly. Despite concerns over tariffs, inflationary pressures remained muted, easing market fears of aggressive Fed action. There is worry that this was still a pre-tariff inflation print, but does anyone care with the S&P 500 finally up?
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COMPANY NEWS
War Dogs 2 Sends MilTech And Semi’s Flying 🔫
The White House championed a massive pledge for foreign investment Tuesday, boasting the defense service industry will fufill the ability to bring Saudi Arabian forces up to the needs of state-of-the-art warfare. James Jefferey, former Ambassador to Iraq and Turkey, told Bloomberg the Trump Admin was doing this to attempt to support an anti-Iran coalition.
The news comes without a sign of support from U.S. ally Israel yet, and after the U.S. canceled its campaign to bomb Iran-backed Houthi rebels that pester trade in the Red Sea.
“ Underscoring our commitment to strengthening our defense and security partnership, the United States and Saudi Arabia signed the largest defense sales agreement in history—nearly $142 billion, providing Saudi Arabia with state-of-the-art warfighting equipment and services from over a dozen U.S. defense firms. “
According to Yahoo Finance, hosting Trump was vital to attract capital from the U.S. — the nation aims to pull in $100 billion in foreign direct investment annually by 2030, but last year attracted $20.7 billion.
Trump’s drill baby drill mindset did not pair well with their goals. Crude prices fell to a low of $54/barrel just last week, piling further pressure on Saudi Arabia’s finances. Bloomberg Economics estimates the kingdom needs a price of at least $96 a barrel to balance its budget.
Who is Paying Who:
Nvidia $NVDA ( ▲ 4.16% ) is set to ship over 18,000 AI chips to Saudi Arabia to support the development of 500 MW AI data centers. The initiative aligns with the kingdom’s ambition to become a global hub for AI. Saudi Arabian DataVolt is investing $20 billion in AI data centers. Sounds like they’ll need a lot of cooling tech. 🧊
AMD, Google, and Uber $UBER ( ▼ 1.43% ) rallied after committing to invest $80 billion in a $600 billion U.S.-Saudi trade pact. AMD announced a $10 billion partnership with Saudi Arabia’s sovereign wealth fund-backed AI startup, Humain, while Uber CEO Dara Khosrowshahi highlighted plans to introduce autonomous vehicles in Saudi Arabia within the year. ⚡️
GE Vernova’s gas turbines and Boeing $BA ( ▲ 0.64% ) aircraft deals total $19 billion. Shamekh IV Solutions plans a $5.8 billion healthcare investment, including a Michigan IV fluid facility. Sector-specific funds—$5 billion Energy Investment Fund, $5 billion Aerospace & Defense Fund, and $4 billion Sports Fund—are all claiming to channel money toward the U.S.
STOCKS
Other Noteworthy Pops & Drops 📋️
Tesla $TSLA ( ▲ 4.07% ) saw its average transaction price rise 2.8% month-over-month in April, reaching $56,120, as the broader auto market adjusted to new 25% import tariffs. The average U.S. vehicle price climbed to $48,699. Tesla still climbed back above $1T market cap, after a report showed the “Big Beautiful Bill” making its way through Congress did not include an EV purchase tax credit— Tesla is hopes that no credits means a barrier to new and competing entrants to their market.
Bitcoin $BTC.X ( ▼ 0.58% ) lost momentum after the U.S.-China trade deal Monday, but returned to a climb on Tuesday at $104k/coin. Despite the pullback, retail traders remain bullish, with a Stocktwits poll showing 54% expect Bitcoin to top $150,000 by year-end.
JD.com $JD ( ▼ 4.08% ) reported Q1 revenue of $41.5 billion, exceeding analyst expectations of $39.88 billion. Earnings per share came in at $1.16, beating estimates of $0.97. Despite ongoing U.S. tariffs, JD.com’s retail sales grew 16% year-over-year, while logistics revenue climbed 11.5%.
Microsoft $MSFT ( ▲ 0.85% ) is laying off 3% of its workforce, affecting approximately 6,000 employees across various teams and geographies. The company stated that the cuts are part of broader organizational changes.
Intuitive Machines $LUNR ( ▲ 1.72% ) flew to a two-month high after reporting Q1 revenue of $62.5 million, surpassing expectations. The space race company also posted its first-ever quarter of positive free cash flow at $13.3 million. CEO Steve Altemus reaffirmed full-year revenue guidance of $250M–$300M, highlighting continued momentum in lunar services and government contracts.
Robinhood $HOOD ( ▼ 1.89% ) has agreed to acquire Canadian cryptocurrency platform WonderFi in a $179 million all-cash deal. The acquisition adds WonderFi’s regulated crypto exchanges, Bitbuy and Coinsquare, to Robinhood’s portfolio.
UnitedHealth $UNH ( ▼ 1.08% ) suspended its 2025 guidance as CEO Andrew Witty stepped down for personal reasons. The company cited accelerating care activity and higher-than-expected medical costs, particularly in Medicare Advantage plans, as key factors behind the decision. Stephen Hemsley, former CEO from 2006 to 2017, will return to lead the company. Shares dropped and the stock pulled down the Dow.
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TECHNICAL ANALYSIS — THE LITEPAPER
BTC’s Dominance Is Tanking, And That’s Ok 👍️
The Bitcoin Dominance Chart (shows Bitcoin’s share of the total crypto market cap; e.g., 61% means Bitcoin is 61% of the market’s value) is tanking. ⤵️
BTC Dominance Daily Chart – Click to enlarge.
Here’s what’s currently happening on the BTC Dominance chart:
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Last week’s drop from 64.77% to 63.15% marked the steepest weekly decline since early December 2024.
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May 2025 has retraced all gains from April 2025, and if nothing changes, it’ll be the first red monthly close for BTC Dominance in five months.
Is this bad for crypto? No. Bad for Bitcoin? Not really.
So what does it mean?
WHAT’S ON DECK
Tomorrow’s Top Things 📋
Economic data: MBA 30-year mortgage rate (7:00am). 📊
Pre-Market Earnings: Bitfarms ($BITF), SuperCom ($SPCB), Creative Realities ($CREX), Global E Online ($GLBE), Dynatrace ($DT).🛏️
After-Hour Earnings: Call Re-stream Bionano Genomics ($BNGO)?, CoreWeave ($CRWV), Cisco ($CSCO), Iris Energy ($IREN), Nexttracker ($NXT), Luminar Technologies ($LAZR), Fossil Group ($FOSL), Atyu BioPharma ($ATYU)🎧
P.S. You can listen to all of these earnings calls and more straight from the Stocktwits app or website. You’ll find them on the calendar page and individual symbol pages once they’re set to begin! We’ll see you there. 👍
Links That Don’t Suck 🌐
✈️ It’s Huge! Trump’s Jumbo Jet Obsession Through The Years
⚠️ Trump and MBS Tout $1 Trillion Pledge as Details Remain Elusive
👀 Photos: Tech CEOs mingle with Trump and Saudi Crown Prince at investment forum in Riyadh
🏠️ Trump Slashes ‘De Minimis’ Tariffs on Small Shipments From China to 54%
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