🚘 Tesla disappoints again

and Trump changes plans

Good morning investors! Bitcoin surged past $90,000 for the first time since March, now standing 21% above its April low as investors consider it a safe haven due to the USD being under pressure.

Today we cover:

  • Trump doesn’t want to fire Powell

  • BTC continues to impress

  • Tesla earnings disappoint again

📊 Economy and News 

Trump Says He Won’t Fire Fed Chair Powell, Markets Rebound

President Donald Trump said Tuesday he has “no intention” of firing Federal Reserve Chair Jerome Powell, marking a sharp reversal from recent threats to oust him.

“None whatsoever. Never did,” Trump said, when asked directly in the Oval Office. The remarks helped lift U.S. stock futures, which had been shaken by speculation over Powell’s job security.

Just a day earlier, Trump had called Powell a “major loser” and urged immediate rate cuts. He and his advisors had reportedly been exploring whether Powell, whose term ends in May 2026, could be removed early.

Though Trump now downplays the threat, his aggressive rhetoric raised concerns about political interference in the central bank. Analysts warned that removing Powell could spook markets and undermine the Fed’s independence.

Trump added, “I’d like to see him be more active in lowering rates,” calling it a perfect time for easing. The Fed chair has maintained that the president lacks authority to fire him.

Global hits:

Where’s the money at: Gold is up 28% this year as recession concerns grow. The IMF cut its 2025 U.S. growth outlook, putting the chance of a recession at 40%. Meanwhile, at a closed-door JPMorgan event, Treasury Secretary Scott Bessent reportedly called current China tariffs an “unsustainable embargo,” though the White House denied the remark and insisted trade talks are on track.

Bitcoin, now trading above $90K, has shown lower short-term volatility than both the S&P 500 and Nasdaq. Some analysts see $100K in sight as early as next month.

Bitcoin-linked stocks are holding strong while broader indexes dip. MicroStrategy ($MSTR) jumped 10% yesterday and is up 21% this week, backed by its massive 540,000 Bitcoin treasury.

In a boost for the crypto space, Trump swore in Paul S. Atkins—a known crypto advocate—as the new SEC chair, calling for swift regulatory clarity. The appointment has energized Bitcoin bulls. For now, only a stock market rebound could slow the momentum in gold and crypto.

Falling expectations: IMF slashes 2025 forecast: it predicts the U.K. economy will grow 1.1%, down 0.5 percentage points from its previous forecast, in January. It expects the U.K. to grow 1.4% in 2026, 0.1 percentage point lower than its former prediction. On the other hand, it expects U.S. growth rate to stand at 1.8% down from 2.7% predicted earlier.

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📈 Stocks

S&P 500 5,287.76 (+2.51%)
DJIA 39,186.98 (+2.66%)
NASDAQ 16,300.42 (+2.71%)
BRENT CRUDE 67.88 (+0.65%)
* Prices as of Apr 23rd, 12:20 AM UTC

Tesla Misses on Earnings as Revenue Falls, Model Y Refresh Cited

Tesla posted weaker-than-expected first-quarter results, missing both earnings and revenue estimates as automotive sales slumped 20% year over year.

  • EPS: $0.27 (adjusted) vs. $0.39 expected

  • Revenue: $19.34B vs. $21.11B expected

Total revenue fell 9% from a year ago to $19.34 billion, driven by lower vehicle prices, factory retooling for the updated Model Y, and increased sales incentives. Net income plunged 71% to $409 million.

Tesla didn’t reaffirm 2025 growth targets, warning of global supply chain pressure from shifting trade policies and tariffs. Shares are down 41% in 2025 after their worst quarter since 2022.

The company produced 363,000 vehicles, down 16% from last year, and delivered 337,000, a 13% decline. Despite factory shutdowns lasting 4 to 6 weeks during the quarter, the results still reflected solid underlying growth.

CEO Elon Musk said tariff decisions are “entirely up to the president of the United States.” Musk said he offers his advice and has been on record voicing his opposition to tariffs.

Moreover, he said by 2030, Tesla will build one million Optimus robots a year. Meanwhile, Tesla became the most profitable stock for short sellers, according to S3 Partners.

Tesla is also facing political backlash, protests, and stiff EV competition from China, while falling behind in the robotaxi race. Still, it aims to pilot driverless ride-hailing in Austin by June and begin test production of its humanoid robot this year in Fremont.

The bright spot: The energy division saw the strongest growth, surging 67%. Revenue from regulatory credits rose 35% to $600 million. While vehicle sales remained the largest revenue source, they expanded at a slower pace of 20%.

We also want to add that according to CNBC, about half of Americans have a negative view on Tesla and Elon Musk.

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Boeing changes: Boeing rose 2% after announcing a $10.55 billion deal to sell parts of its digital aviation division, including Jeppesen, to private equity firm Thoma Bravo. The company is set to report earnings today.

Good to know: RTX, GE Aerospace expect more than $1 billion tariff impact. Elsewhere, Chipotle to expand to Mexico amid Trump trade war with U.S. neighbor. Lastly, Walgreens to pay up to $350 million in US opioid settlement.

Reminder: Warner Bros. Discovery starts Max password-sharing crackdown. On the other hand, China’s CATL claims to beat BYD’s EV battery record with longer range on a 5-minute charge. Lastly, Bessent says he expects ‘de-escalation’ in U.S.-China tariff fight in the ‘very near future’.

💵 Personal Finance

Diversification: Your Financial Life Jacket in Stormy Markets

When markets get rough, it's tempting to cling to whatever's performing well—but that’s like choosing one lifeboat and ignoring the rest.

Diversification is the strategy of spreading your investments across different asset classes (stocks, bonds, real estate, etc.) so that when one area sinks, another might float. It doesn’t guarantee profits or eliminate losses, but it reduces the risk of being wiped out by one bad wave.

In times of crisis, it’s not about predicting the storm—it's about having a portfolio built to weather it.

In today’s volatile economic climate, diversifying investments across assets like gold, Bitcoin, stocks, and bonds offers a safer strategy for preserving wealth, as evidenced by real-world data.

Amid 2022’s economic turbulence, when the S&P 500 fell 18% and the Bloomberg U.S. Aggregate Bond Index dropped 13% due to inflation and Federal Reserve rate hikes, gold rose 0.4% (World Gold Council) and Bitcoin, despite a volatile year, delivered a 300% recovery post-COVID crash in 2020 (CoinMarketCap).

A 2023 Vanguard study showed diversified portfolios (60% stocks, 30% bonds, 10% alternatives) had lower volatility (12.4% standard deviation) than equity-only portfolios (18.7%), while a 2024 Morningstar report noted 15-20% less downside risk for portfolios with 5-10% in gold and Bitcoin.

From 2020 to 2024, gold’s annualized return was 7.2% (Kitco Metals), and Bitcoin’s was 45%, with low correlation to stocks (0.17 per Fidelity, 2018-2022), proving that spreading investments across uncorrelated assets like gold and Bitcoin mitigates risk and enhances stability.

💰 Be a Better Investor

"The stock market is a device for transferring money from the impatient to the patient."

– Warren Buffett

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👩🏽‍⚖️ Legal Stuff
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