Good morning investors! The S&P 500 hit all-time highs again yesterday, before a slight pullback as Nasdaq notches longest win streak since 2009.
Today we cover:
Iran war ending?
Netflix falls
More earnings
📊 Economy and News
Trump See Iran War “Ending Pretty Soon’
President Donald Trump stated on Thursday that the U.S. war against Iran is progressing well and nearing its end.
“The war in Iran is going along swimmingly. It should be ending pretty soon,” Trump said during an event in Las Vegas.
He described the military campaign as “perfect” and highlighted the strength of the U.S. military. The remarks echo similar optimistic predictions he has made since the U.S. and Israel launched attacks on Iran in late February.
Trump’s appearance in Las Vegas was primarily to promote his “no tax on tips” policy, which eliminates federal income tax on tip-based wages for many workers.
The report sent oil lower. However, The International Monetary Fund says the world will suffer an oil shortfall this year – even if the war with Iran were resolved this week – suggesting we may be heading towards a recession.
Global hits:
Israel and Lebanon agree to 10-day ceasefire.
IMF, World Bank say they are resuming dealings with Venezuela.
Europe could run out of jet fuel in 6 weeks.
Reminder: President Donald Trump said he will fire Federal Reserve Chair Jerome Powell if he does not step aside when his term at the helm of the central bank expires next month.
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📈 Stocks
S&P 500 7,041.28 (+0.26%)
DJIA 48,578.72 (+0.24%)
NASDAQ 24,102.70 (+0.36%)
BRENT CRUDE 98.24 (-1.13%)
* Prices as of Apr 17th, 12:20 AM UTC
Netflix shares fell 9% in extended trading after the company reported strong first-quarter results but announced that co-founder Reed Hastings will exit the board in June.
Netflix beat Wall Street expectations, posting revenue of $12.25 billion (up 16% year-over-year) and earnings per share of $1.23 — nearly double last year’s figure. The jump was boosted by a $2.8 billion termination fee from the collapsed Warner Bros. Discovery acquisition deal.
The company maintained its full-year revenue guidance of $50.7–$51.7 billion and expects 13% revenue growth in Q2. It also reiterated plans to hit $3 billion in advertising revenue in 2026.
Despite the beat, investors appeared disappointed by the lack of raised guidance and the upcoming departure of Hastings, who stepped down as CEO in 2023.
Netflix continues to focus on price increases, password-sharing crackdowns, and expanding live sports, including ongoing NFL discussions.
Interesting: Anthropic unveils plans for major UK expansion after OpenAI announces first permanent London office
TMSC Reports: Taiwan Semiconductor Manufacturing Company (TSMC) posted record first-quarter results, with profit surging 58% year-over-year and revenue reaching $35.5 billion, beating analyst estimates.
The world's largest contract chipmaker saw strong demand for its advanced 3nm chips and packaging technologies, primarily fueled by AI accelerators from major clients including Nvidia and Apple. Other tech giants like Alphabet, Amazon, and Microsoft are also booking capacity months in advance.
TSMC raised its full-year 2026 revenue growth guidance (previously ~30%) and announced $56 billion in capital spending for capacity expansion. It is also investing $165 billion in U.S. fabrication plants amid reshoring efforts.
TSM shares rose slightly in after-hours trading, while the stock is up 34% year-to-date in Taipei. This suggests the AI-fueled rally had already priced in the upside after the massive run last week.
On the flip side, the company’s gross margins ran over 10 percentage points above the its long-term goal of 56%.
Some more falls: Abbott Laboratories fell 6% due to an unimpressive report. The company beat on top line but the outlook failed to win investors.
On the other hand, Charles Schwab Corporation fell nearly 8% as the market fears the firm may not be able to maintain net interest margins due to ongoing challenges.
Royal Caribbean fell 6% due to increased pricing pressure.
💵 Personal Finance
Building an Emergency Fund – Your First Line of Financial Defense
An emergency fund is more than just extra cash tucked away; it is the cornerstone of financial stability. In an unpredictable world where job loss, medical emergencies, or sudden car repairs can strike without warning, having readily accessible savings prevents small crises from spiraling into debt. Financial experts recommend setting aside three to six months of essential living expenses. For someone spending $3,000 monthly on rent, food, utilities, and transportation, that means a target of $9,000 to $18,000.
Start small. If saving thousands feels overwhelming, begin with $1,000 and build from there. Open a separate high-yield savings account to earn interest while keeping funds liquid and out of sight. Automatic transfers from your paycheck—say, $50 per week—make the process painless. Track progress with a simple spreadsheet listing your monthly essentials, then multiply by your chosen coverage period.
The psychological benefit is profound. Knowing your fund exists reduces anxiety during turbulent times. Studies show people with emergency savings are less likely to rely on high-interest credit cards, which can trap borrowers in cycles of minimum payments that barely touch the principal. During the 2020s economic shifts, households with emergency funds recovered faster from layoffs and inflation spikes.
Prioritize this fund before aggressive investing or luxury purchases. Once complete, maintain it by replenishing after withdrawals. Review annually as your expenses change—perhaps after a promotion or move. For families, include childcare or pet care in calculations. Solo individuals might aim lower initially but scale up as income grows.
Avoid common mistakes like mixing the fund with everyday checking accounts or using it for non-emergencies such as vacations. Treat it as sacred. Over time, this disciplined approach transforms reactive financial panic into proactive peace of mind. An emergency fund does not eliminate life’s surprises, but it ensures you face them with confidence rather than desperation. Start today, even with one paycheck’s worth, and watch your financial resilience grow.
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