Quote of the Day
"If American A.I. pessimism were merely cultural or informational, it would correlate with media consumption, education levels or political polarization. Instead, it cuts across all those categories. It correlates instead with labor market institutions."
(Paul Kedrosky)
Markets
- Gold has given up all its 2026 gains. (axios.com)
- Oil prices are back down to pre-war levels. (semafor.com)
- Bitcoin is well off its highs. (ft.com)
Fund management
- Activist investors are on a cold streak. (semafor.com)
- The State Street SPDR Portfolio Nasdaq 100 ETF ($QNDX) is here. (thedailyupside.com)
Apple
- Apple ($AAPL) has announce price increases for Macs and iPads. (wsj.com)
- Even Apple ($AAPL) can't dodge rising memory prices. (spyglass.org)
- A look at iPhone prices over time. (asymco.com)
Economy
- The PCE shows a 4.1% jump from a year earlier. (axios.com)
- Signs that the wealth effect is holding up consumer spending. (bonddad.blogspot.com)
- New business formation is surging. (marginalrevolution.com)
Earlier on Abnormal Returns
- Longform links: building taste. (abnormalreturns.com)
- We are rapidly running out of road to kick the proverbial Social Security can. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: family MVPs. (abnormalreturns.com)
- Are you a financial advisor? Sign up for our exclusive Talking Wealth newsletter. (talkingwealthpod.com)
- Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
