Markets celebrated a fresh all-time high Tuesday, with the S&P 500 setting another record as traders happily ignored the Fed minutes lurking on Wednesday’s calendar. Rate cut hopes? Still up for debate. But for now, the rally rolls on.

⚡ Closing Bell:

• Dow Jones: ➡️ Flat at 44,556.3 › Steady as traders await the Fed’s next move.
  S&P 500: ⬆️ +0.2% › 6,129.6 › Another record, fueled by tech and energy.
  Nasdaq 100: ⬆️ +0.1% › 20,041.3 › Just keeps climbing.
  Russell 2000: ➡️ Flat at 2,275.4 › Small caps took a breather.

Market Movers:
➝ Homebuilder Blues: Confidence hit a 5-month low as tariffs and rising costs cloud the outlook.
➝ Factory Comeback: New York manufacturing snapped back into growth mode as orders picked up steam.

Macro Moves:
➝ 10-Year Yield: ⬆️ +3.6 bps › 4.52%
➝ 2-Year Yield: ⬆️ +4.7 bps › 4.30%

❗ Looking Ahead: The Fed minutes are set to drop Wednesday, and traders will be looking for any clues on rate cuts. Will the central bank stick to its patient stance, or is a shift in tone coming?

#TRUTH:
❗❗❗ “You can’t paddle alone. Find someone to help you.” ~ Admiral William H. McRaven

Earnings Watch:

① Intel’s Big Jump ✅
➝ Intel (INTC) +16.0% → Reports of a potential breakup deal had traders piling in.

② A Bidding War? ✅
➝ H&E (HEES) +14.9% → Herc’s surprise offer threw a wrench in the United Rentals deal.

③ Guidance Gone Wrong ❌
➝ Medtronic (MDT) -7.3% → Weak sales & inventory cuts sent shares tumbling.
➝ Conagra (CAG) -5.5% → Lowered outlook had investors hitting the exit.

Fantastic 500:

Magnificent 7? Try the Fantastic 500…
The stock market’s red-hot start to 2025 isn’t just about Big Tech. Nearly half of S&P 500 stocks are outperforming the index—a major shift from the last two years when mega-cap names dominated the gains.

① Stock Picking Is Back → With the market now “micro-driven,” Goldman Sachs says company-specific fundamentals are playing a bigger role in stock moves.

② AI’s New Contenders → Nvidia (NVDA) took a hit after China’s DeepSeek frenzy, but software AI names like Salesforce (CRM) and Meta (META) surged—showing investors are getting more selective.

③ Risk-On Mode → BofA’s latest fund manager survey shows cash allocations at a 15-year low, as investors bet on a broader market rally beyond just the usual tech giants.

With all 11 S&P 500 sectors in the green and financials and materials leading the way, this rally is proving to be more than just another Magnificent 7 show.

Now Worth 1/16th of Uber:

Nvidia’s golden touch is turning heads again. Shares of WeRide (WRD) jumped another +27% on Tuesday, extending Friday’s +80% surge after Nvidia (NVDA) disclosed a $25M stake in the Chinese self-driving car company.

The rally has WeRide’s market cap hitting $11B—roughly 1/16th of Uber’s (UBER). Not bad for a company that’s been public for just four months and was flatlining until last week.

On paper, WeRide isn’t exactly a market darling. Revenue shrank 24% YoY, and it hasn’t turned a profit in four years. But when Nvidia backs a company, Wall Street doesn’t ask questions—it just buys.

Trifold:

Huawei is taking foldables to the next level—literally. The Chinese tech giant just unveiled the world’s first trifold smartphone, the Mate XT, set to hit global markets soon. The catch? It’ll cost you €3,499 (~$3,660)—a price tag that might make even Apple blush.

Can Three Screens Fix It?

Once a dominant player in global smartphones, US sanctions crippled Huawei’s international reach, blocking access to key tech like Android and US-made chips. But at home, it’s a different story—Huawei’s revenues jumped 22% last year, while iPhone sales in China are slipping.

With a sleek design and the largest foldable screen yet, Huawei hopes its high-end innovation will lure back global customers. But without Google’s ecosystem, the Mate XT may be the world’s most expensive e-reader.

Just Skim It:

Nike just pulled a move straight out of the Kanye playbook—teaming up with Kim Kardashian’s Skims for a first-of-its-kind collab. Shares of Nike (NKE) +6.2% jumped on the news, marking its best session since September.

The NikeSkims line, dropping this spring, promises to blend Nike’s Dri-Fit performance tech with Skims’ body-hugging designs. A global rollout is set for 2026.

For Nike, this isn’t just about selling leggings. With sales under pressure and rivals like Adidas (ADDYY) and Lululemon (LULU) eating its lunch—this could be a much-needed win in the women’s market.

Nike reports earnings in late March, but investors seem to think this play is already a slam dunk.

Escapes:

Boca Grande, Florida

Highlights of the Day:

① Chip Rally Rolls On ✅
➝ Micron (MU) +7.3% → AI optimism and semiconductor strength kept the rally alive.
➝ Intel (INTC) +16.2% → Acquisition rumors fueled a massive surge.
➝ Super Micro (SMCI) +16.6% → Continued its ridiculous run as Nvidia’s Blackwell hype heats up.

② Buffett’s Bet ✅
➝ Constellation Brands (STZ) +3.9% → Berkshire Hathaway’s new stake pushed shares higher.

③ BlackBerry’s Revival? ✅
➝ BlackBerry (BB) +6.9% → Hedge fund Hood River disclosed a big stake, sparking investor interest.

④ AMC Popcorn Profits ✅
➝ AMC (AMC) +4.0% → “Captain America” packed theaters—bad reviews didn’t stop the ticket sales.

⑤ Fresh Scent ✅
➝ Bath & Body Works (BBWI) +9.7% → JPMorgan upgrade lifted the stock nearly 10% on optimism about sales growth and share buybacks.

Commodities Check : ✔️

• Crude Oil: ⬆️ +1.57% › $71.85/bbl

• Gold: ⬆️ +1.77% › $2,952.20/oz

• Silver: ⬆️ +1.70% › $33.317/oz.

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The stinger

Disclaimer

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