Recession Lies: Are You Being Duped?

Market Sizzle: Nvidia’s AI Surge, Target’s Sales Slump, Ticketmaster Lawsuit, Economic Misconceptions ͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­͏   ­ Forwarded this email? [Subscribe here]() for more [Recession Lies: Are You Being Duped?]( Market Sizzle: Nvidia’s AI Surge, Target’s Sales Slump, Ticketmaster Lawsuit, Economic Misconceptions [Josh Belanger]( May 23   [READ IN APP](   Ever find yourself stuck in traffic, waiting endlessly to make a left turn? It’s like watching paint dry but with more honking. What if we just got rid of left turns altogether?  AI’s Meteoric Rise Boosts Nvidia Nvidia’s sales soared, tripling to $26 billion, thanks to AI. The company’s chips are in high demand, driving net profit to $14.88 billion. CEO Jensen Huang called this the start of a new industrial revolution, turning data centers into “AI factories.” Nvidia’s stock has more than tripled in a year, now worth over $2 trillion. The stock price rose above $1,000 a share after record earnings, prompting a 10-for-1 stock split and a higher dividend. The AI boom began with OpenAI’s ChatGPT, powered by Nvidia’s chips. Big tech and startups are scrambling to buy more, leading to shortages. Nvidia plans to launch new, high-cost AI chips called Blackwell, expected to drive future sales. Demand remains strong, with companies like Tesla and Meta buying thousands of AI chips. Nvidia’s growth may slow but remains impressive, with the next quarter’s outlook also exceeding expectations. Americans Misled on Recession A Harris poll found nearly three in five Americans wrongly believe the US is in a recession, with most blaming President Biden. Despite GDP growth, 55% think the economy is shrinking. Many also think unemployment is at a 50-year high, though it’s under 4%. Inflation is a major worry for 72%, despite it dropping from a 2022 peak. High interest rates and past inflation make recovery feel slow. Most Republicans feel pessimistic about the economy, while Democrats are more optimistic. But both groups distrust economic news. President Biden faces challenges convincing voters of economic progress, despite some support for his “Bidenomics” policies. Target’s Tumbling Sales Streak Continues Target’s sales dropped for the fourth quarter in a row. Comparable sales fell 3.7% by May 4. High prices are hurting wallets, and shoppers spend more on services instead. CEO Brian Cornell said customers are still resilient, with some improvement in discretionary spending. Target expects flat to 2% growth next quarter, a first in over a year. Shares fell 8% as profit measures disappointed investors. Target plans new business initiatives and price cuts to boost sales. They’re cutting prices on 1,500 products, with more reductions this summer. Competitors like Walmart and Amazon reported strong sales, unlike Target. Walmart’s sales rose 3.8% last quarter. U.S. inflation eased in April. Target’s total revenue fell 3.1% to $24.5 billion, and net earnings dropped 0.8% to $942 million. Break Up Live Nation Now The Justice Department plans to sue Live Nation and Ticketmaster. They say Live Nation has a ticket monopoly. This lawsuit wants to break them up. Live Nation merged with Ticketmaster in 2010. Since then, it controls over 80% of primary ticket sales in big venues. Critics say they use this power to crush competition. Ticketmaster has exclusive deals with many venues. They offer financial advances to get long-term contracts. This makes it hard for rivals to compete. Problems arose when Ticketmaster crashed during Taylor Swift’s presale in 2022. Lawmakers and fans were upset. Live Nation’s head of corporate affairs says they don’t set ticket prices. He blames high demand and low supply for high prices. Competitors and the government want changes. They believe breaking up Live Nation will help. Quick Sizzles: - Citi's $78 Million Typo Triggers Market Mayhem: A trader's fat finger leads to a flash crash in European stocks, prompting a massive fine for Citigroup. - Fed's Inflation Fears Spook Investors, Stocks Stumble: Minutes reveal a potential delay in interest rate cuts, causing a minor market dip. - Sky-High Prices & Rates Freeze Spring Home Sales: The once-hot housing market chills as sales drop for the second consecutive month. - Metal Mania! Speculators Fuel Record-Breaking Rally: Investors are piling into copper, gold, and silver, pushing prices to unprecedented heights. - Japan's Borrowing Costs Break Free, Yields Soar: The 10-year bond yield surpasses 1% for the first time in over a decade, signaling a shift in monetary policy. - China's Bond Frenzy Sparks Trading Chaos: Investor hunger for safe havens overwhelms the market, prompting trading suspensions. - Target & Walmart Slash Prices, Inflation Bites Back: Major retailers cut prices on thousands of items as consumers feel the pinch of rising costs. - German Wage Boom Threatens ECB's Rate Cut Plans: A surge in wages could complicate the European Central Bank's plans to reduce interest rates. That’s today’s Market Sizzle; good trading, good life! You're currently a free subscriber to [Josh Belanger](. 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