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NEWS
WE'RE IN THE GREEN

The market closed up for the year Tuesday, if even just by +0.08%. Enthusiasm followed Monday tariff cuts to highs not seen since February, as the Mag Seven added nearly $1T in market cap. CPI inflation numbers Tuesday morning also came in low, showing the smaller YoY increase since before inflation really got going back in 2021.

Nvidia's market cap closed over $3 trillion for the first time since Feb. 26th. 👀

Today's issue covers Palantir Makes Records With Airtaxis, and Maybe Saudi AI, War Dogs 2 Sends MilTech And Semi’s Flying, and BTC’s Dominance Is Tanking, And That’s Ok. 📰

Here’s the S&P 500 heatmap. 6 of 11 sectors closed green, with tech $XLK ( ▼ 1.4% ) leading and healthcare $XLV ( ▼ 0.5% ) lagging.

Here are the closing numbers for indexes and the ETFs that track them: 

S&P 500 $SPY ( ▼ 1.12% ) 5,887

Nasdaq 100 $QQQ ( ▼ 1.26% ) 21,198

Russell 2000 $IWM ( ▼ 1.83% ) 2,102

Dow Jones $DIA ( ▼ 1.78% ) 42,140

STOCKS
Palantir Makes Records With Airtaxis, and Maybe Saudi AI 🚁 

Palantir surged Tuesday to close at a record $128/share. The military contractor and AI giant made the news today after CEO Alex Karp brushed elbows with other tech royalty while meeting Saudi Arabian Crown Prince Mohammed bin Salman at the Saudi Arabia Investment Forum.

The White House said the Saudis are investing $600 B in the U.S., including a nearly $142B arms deal for U.S. Defense Firms.

The news dropped on the same day air taxi manufacturer Archer Aviation announced that it's teaming up with Palantir to use AI to improve a range of its aviation systems during its Q1 earnings results. $ACHR ( ▼ 14.83% ) rallied after the announcement and earnings beat.

Bank of America raised its price target to $150, citing Palantir’s ability to deploy AI-enabled products at scale. Check out more on the Saudi deal below.

U.S. consumer inflation rose 2.3% year-over-year in April, coming in below expectations and marking the lowest annual increase since 2021. The monthly CPI rose 0.2%, driven by higher shelter and energy costs, while food prices declined slightly. Despite concerns over tariffs, inflationary pressures remained muted, easing market fears of aggressive Fed action. There is worry that this was still a pre-tariff inflation print, but does anyone care with the S&P 500 finally up?

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