Good morning investors! Tensions continue in The Middle East as US-Iran are yet to have a second meeting.
Today we cover:
US business activity rebounds
Companies are laying off workers
Big names report
📊 Economy and News
U.S. Business Activity Rebounds, But Conflict Fuels Rising Costs
U.S. business activity picked up in April after a near-stall in March, with the S&P Global Composite PMI rising to 52.0, signaling renewed growth. Manufacturing led the rebound, hitting a 47-month high as companies increased stockpiling amid supply concerns, while the services sector returned to modest expansion.
However, ongoing onflict involving Iran has disrupted supply chains—especially through the Strait of Hormuz—driving up delivery times and pushing prices higher. Input and output costs surged to their highest levels since 2022, reflecting shortages and rising commodity prices.
Despite stronger output, the broader outlook remains pressured by geopolitical tensions and persistent inflation driven by supply disruptions.
Global hits:
US sets antidumping duties on solar imports from three nations.
Greece to be overtaken by Italy as euro zone’s most indebted country in 2026.
UK consumer confidence drops to lowest since October 2023 amid Iran war fallout.
Germany recession risk jumps as Iran war lifts energy prices.
The war: Trump orders Navy to ‘shoot and kill any boat’ laying mines in Hormuz Strait as he announces 3-week extension to Israel-Lebanon ceasefire adding Americans should expect higher gas prices for ‘a little while’.
Reminder: Regeneron to offer prescriptions at most favored nation prices. Also, US to loosen marijuana rules in major shift for $47 billion industry.
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📈 Stocks
S&P 500 7,108.40 (-0.41%)
DJIA 49,310.32 (-0.36%)
NASDAQ 24,438.50 (-0.89%)
BRENT CRUDE 105.1 (+3.16%)
* Prices as of Apr 24th, 12:20 AM UTC
Big Earning Beats
Here are some major names that reported yesterday:
American Express topped first-quarter profit estimates, driven by strong spending from affluent customers, with total card spending rising 9% to $428 billion and revenue up 10% to $18.9 billion; growth was led by travel, entertainment, and luxury retail, while credit quality remained solid despite a slight increase in loss provisions. Although global tensions, including the Iran conflict, caused some disruption in airline spending, overall demand stayed resilient, and the company reaffirmed its full-year outlook for steady revenue growth and earnings.
Intel reported first-quarter earnings that beat Wall Street expectations sending the stock up 20%. Revenue rose more than 7%, a sign that the chipmaker is finally starting to see some growth. The stock has been a Wall Street darling of late, bolstered by a big investment last year by the Trump administration. Intel is still losing money. The company said its net loss widened to $4.28 billion, or 73 cents per share, from $887 million, or 19 cents a share a year earlier.
Texas Instruments beat on earnings and revenue in its first-quarter report. The company also gave upbeat guidance due to high demand for its analog chips that are crucial for the AI data center buildout. As a result, the stock jumped 19% for best day since 2000 as AI demand soars.
Interesting: OpenAI releases GPT-5.5 with improved coding and research capabilities.
US fixed 30-year mortgage rate drops to 6.23%.
Trump’s net approval rating on economy and overall falls to lowest of his two terms.
Warner Bros. Discovery shareholders approve Paramount acquisition.
Job cuts: Meta will cut 10% of workforce as company pushes deeper into AI. Similarly, Nike cuts 1,400 roles in second round of layoffs this year. In other news, Microsoft plans first-ever voluntary employee buyout for up to 7% of U.S. workforce.
💵 Personal Finance
The Hidden Cost of Lifestyle Inflation You Don’t Notice
Most people expect their finances to improve as their income rises—but often, the opposite quietly happens. This phenomenon, known as lifestyle inflation, is widely discussed, yet one overlooked aspect is its “invisible layer”: small, incremental upgrades that don’t feel significant but compound into major financial drag over time.
Unlike obvious splurges—like buying a luxury car—the invisible layer shows up in subtle ways. You start ordering food delivery more often because it feels justified after a raise. You upgrade subscriptions to premium tiers you barely use. You replace functional items earlier than necessary, simply because you can. Each decision feels harmless in isolation, but together they reshape your baseline cost of living.
What makes this particularly dangerous is psychological normalization. After a few months, these higher expenses no longer feel like upgrades—they feel like necessities. This reduces your ability to cut back without discomfort, effectively locking you into a more expensive lifestyle without consciously choosing it.
Over time, this can stall wealth-building even for high earners. Instead of directing increased income toward investments or savings, it gets absorbed into a gradually expanding lifestyle. The result is a paradox: earning more but not feeling financially ahead.
The solution isn’t strict frugality—it’s awareness and intentionality. One practical approach is to “anchor” your lifestyle by setting a fixed baseline for recurring expenses and only allowing deliberate, meaningful upgrades. Another is to automate a portion of every raise directly into savings or investments before lifestyle changes take hold.
Ultimately, financial progress isn’t just about how much you earn, but how much of that increase you actually keep. The most powerful gains often come not from dramatic sacrifices, but from noticing—and controlling—the quiet creep of everyday spending.
💰 Be a Better Investor
"Beware of little expenses; a small leak will sink a great ship."
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