Quote of the Day
"Microsoft’s leader is essentially saying they laid off employees not due to financial struggles, but because those workers didn’t fit into the company’s AI-focused strategy."
(Om Malik)
Markets
- The stock market can outgrow the economy only for so long. (awealthofcommonsense.com)
- Even the best stocks go through big drawdowns. (humbledollar.com)
- It's comforting when you own every stock in the index. (contessacapitaladvisors.com)
Companies
- Berkshire Hathaway ($BRK.A) stock is down since the annual shareholders meeting. (barrons.com)
- It's hard not to be impressed with Domino's ($DPZ) track record. (quartr.com)
- Since June 1, nearly a hundred companies have announced plans to raise money and buy cryptocurrency. (wsj.com)
AI
- Why Microsoft ($MSFT) is laying off workers while splashing out for AI talent. (spyglass.org)
- The implicit contract Big Tech had with workers is changing with AI. (om.co)
ETFs
- ETFs are no longer synonymous with low cost. (advisorperspectives.com)
- Section 351 ETFs are roaring out of the gate. (etf.com)
OBBBA
- Why the OBBBA costs so much, for so long. (politico.com)
- Nobody knows why the gambling provision ended up in the OBBBA. (npr.org)
Policy
- A look at the rising costs of servicing U.S. government debt. (econofact.org)
- ICE is splashing out billions to incarcerate people who have committed no crime. (theatlantic.com)
- When it comes to a FEMA response, some states are more equal than others. (wapo.st)
- Some states are stepping up their support for the arts. (theartnewspaper.com)
Economy
- The BLS is increasingly guessing at consumer prices. (econbrowser.com)
- Some signs the economy is rolling over. (econbrowser.com)
- Consumer spending is slowing. (bonddad.blogspot.com)
- James Pethokoukis talks the economy with Joseph Politano of Apricitas Economics. (fasterplease.substack.com)
- The economic schedule for the coming week. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Top clicks this week on the site. (abnormalreturns.com)
- What you missed in our Saturday linkfest. (abnormalreturns.com)
- What if gold went the way of diamonds? (abnormalreturns.com)
- Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
