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NEWS
Don't Watch the Mouth — Watch The Hands

The market ended the week at a loss, falling slightly on Friday as investors try to price out the first trade deal with the UK, wait for trade talks over the weekend, and reason with a Federal Funds rate that is not changing any time soon.

President Trump said that he would not pre-cut tariffs on China, but today, he said that maybe 80% would be a better starting place, but we’ll have to wait and see what they up with. The UK deal was touted as a win, but nearly all imports from the UK will still see 10% tariffs. So much for the price of orange chocolates. 👀

Today's issue covers Google’s in hot water, and The Trade Desk loves it, what to expect from China talks, and more. 📰

Here’s the S&P 500 heatmap. 5 of 11 sectors closed green, with consumer discretionary (+0.48%) leading and health care (-1.09%) lagging.

And here are the closing prices: 

NEWS
Look Out, Google, The Sharks Are Circling The Mag Seven

There are signs the rest of the market is looking for any opening they can find into the trillion-dollar market cap club. The Mag Seven pulled the entire market higher in the past year, but firms feeling left out have to find a way in.

The Trade Desk $TTD ( ▼ 3.7% ) posted strong Q1 results, with EPS of $0.33, beating the expected $0.25, and revenue of $616 million, exceeding the forecast of $575.31 million. Despite the beat, the company guided for $682 million in Q2 revenue, reflecting 17% YoY growth, which is lower due to the absence of political ad spend. Still, the advertising technology firm stands to win big depending on a court case attempting to break up its largest rival $GOOG ( ▼ 0.62% ).

Trade Desk Chief Jeff Greene, a long-term Google critic, said on the company’s call that Google’s focus has long shifted toward YouTube and AI search, and ‘open internet’ searches have become far less important.

“I'm confident that one way or another, Google will exit the open Internet. If you think about it, most of their antitrust and regulatory problems come from how they managed the open Internet in the past,” Greene said. “I think Google will leave a very big hole eventually, which is a big opportunity for the rest of us in the open Internet.”

Greene said Google has been the biggest block to the internet supply chain, but he expects it to change this year or next.

Google recently faced a major shake-up. In a massive antitrust trial that wrapped up Friday, the firm was ordered to share its advertising and search data and stop the practice of implementing deals that pay for its engine to show up in tech products, like Apple’s Safari. The District Court of Virginia, in United States et al. v. Google, found the internet giant violated antitrust law by monopolizing the open-web digital advertising markets.

SPONSORED
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StartEngine has a 20% carried interest in some of its Private pre-IPO offerings. That means their success (and potentially yours, too) is tied to the success of these companies.² 

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So, how do you get involved? By becoming a shareholder in StartEngine. The window is open (but closing soon) for you to join over 45,000+ who have invested $84+ million in StartEngine to date. Get in on the action before this round closes in June.

_{1. The underlying companies held by StartEngine Private Funds LLC, and StartEngine Private LLC (together, “StartEngine Private”) are not participating or involved in the offering. The availability of company information does not indicate that the company has endorsed, supports or otherwise participates with StartEngine Private or any of its affiliates. StartEngine Crowdfunding LLC purchases shares from current and former employees, early investors, and advisors of the companies and sells the shares to StartEngine Private for each offering. When you make an investment in a company on StartEngine Private, you are purchasing an interest in a series of StartEngine Private Funds LLC or StartEngine Private LLC, each a Delaware limited liability company (together the “Series LLCs”), which were created to hold shares of privately held companies. An investor will not directly own or hold shares of the private company but instead will own member interests in a series of the Series LLCs, which either directly or indirectly, will hold shares in the company. There may not be a one-to-one economic parity on the value of the Series LLCs interests and the underlying shares.  This is offered only to accredited investors per regulation D rules.}

_{2. StartEngine receives a small percentage of equity in fees from many of our crowdfunding offerings, and 20% carried interest in some of our Private pre-IPO offerings. Fees are subject to change. There is no guarantee that the 20% carried interest or equity received as compensation will have value, that they will generate income for StartEngine, or that StartEngine will be profitable. To understand the impact on margins, see financials.}

_{*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here.}