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Market Headlines 👀 

• Apple (AAPL) announced new versions of Ipads for the first time since 2022 along with other product lines.

• Apple (AAPL) company’s project ACDC (Apple chips in Data centers) plans making an announcement regarding its new AI chip later this year.

• Uber, Instacart (UBER, CART) the two companies have struck a partnership which will allow consumer to make Uber eats order while using Instacart.

• Stanley Drunkenmiller renowned investor gives his latest thoughts on AI and the Fed policy.

Earnings 💸

• Walt Disney (DIS)

  • EPS: $1.21 beats (exp. $1.10)

  • Revenue: $22.08b misses (exp. $22.12b)

• Datadog (DDOG)

  • EPS: $0.44 beats (exp. $0.34)

  • Revenue: $611m beats (exp. $590.65m)

• Upstart (UPST)

  • EPS: $-0.31 beats (exp. -0.37)

  • Revenue: $128m beats (exp. $125.09m)

• Coupang (CPNG)

  • EPS: $0.05 misses (exp. $0.06)

  • Revenue: $7.1b beats (exp. $7b)

• Rivian (RIVN)

  • EPS: $-1.24 misses (exp. $-1.16)

  • Revenue: $1.2b beats (exp. $1.17b)

• Reddit (RDDT)

  • EPS: $-8.19

  • Revenue: $243m beats (exp. $213m)

• Twilio (TWLO)

  • EPS: $0.80 beats (exp. $0.60)

  • Revenue: $1.05b beats (exp. $1.03b)

• Celsius (TWLO)

  • EPS: $0.27 beats (exp. $0.19)

  • Revenue: $335.7m misses (exp. $390m)

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S&P 500 Heatmap 🔥 

Recap Around the Street 🧠

Disney earnings snapshot (contributed by Brad Freeman @Stockmarketnerd):

A strong reaction to AAPL’s earnings (and $110B share repurchase announcement) last week lifted the Tech sector, bringing the sector right below its own 50 day moving average. A break above this level, with strong relative performance, would be helpful to restore Tech’s leadership and maintain the absolute uptrend.(Contributed by Cameron Dawson, CIO at NewEdge Wealth).

Market Preview 🎞️ 

• Wednesday, May 8th: MBA mortgage applications; EI crude oil inventories

• Wednesday earnings: Uber (UBER), Robinhood (HOOD), Arm Holdings (ARM), Airbnb (ABNB), Shopify (SHOP), Affirm Holdings (AFRM)and The Trade Desk (TTD)

• Thursday, May 9th: Weekly jobless claims

• Thursday earnings: Roblox (RBLX), and Unity Technologies (U)

• Friday, May 10th: University of Michigan consumer sentiment; Treasury budget

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