- MoneyLion Markets Daily Newsletter
- Posts
- Chip Jagger
Chip Jagger
TLDR
MARKET RECAP → The Dow Jones (DIA) climbed on Tuesday as Wall Street sought stability after a rocky start to the month. Eyes are now on Friday's crucial nonfarm payrolls report for May. Investors hope for a labor market weak enough to prompt rate cuts, but not so weak that it raises recession fears.
EPOCH TIMES CFO CHARGED → 🕵️ Epoch Times CFO charged with orchestrating a $67 million money laundering scheme, highlighting the need for robust financial oversight in media organizations.
MICROSOFT'S MIXED REALITY LAYOFFS → 🔮 Microsoft (MSFT) confirmed layoffs in its mixed reality division but will continue selling HoloLens 2, indicating a strategic refocus while maintaining market presence.
JOB OPENINGS FELL AGAIN → 📉 April 2024 saw job openings dip to 8.06 million, the lowest since February 2021, hinting at a cooling job market amid broader economic uncertainties and cautious business strategies.
Was this email forwarded to you? Sign up for free here.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/259adcc4-f97d-48ca-a062-2fc98775a6c4/Group_1000002742.png?t=1717452844)
TODAY’S TOP NEWS
Epoch Times CFO Charged
🕵️ Major Fraud Scheme: The CFO of Epoch Times has been charged with allegedly orchestrating a $67 million money laundering scheme. This high-profile case has drawn significant attention due to the scale and complexity of the alleged financial crimes.
📉 Legal Repercussions: The charges include multiple counts of fraud and money laundering, highlighting serious legal repercussions for the involved parties. If convicted, the penalties could include substantial fines and lengthy prison sentences, impacting the organization's financial stability and reputation.
🌐 Industry Impact: This case underscores the importance of robust financial oversight and compliance within media organizations. It serves as a cautionary tale for other companies in the industry to strengthen their internal controls and ensure transparency in financial operations.
TODAY’S TOP NEWS
Microsoft's Mixed Reality Layoffs
🔮 Layoffs Confirmed: Microsoft (MSFT) announced layoffs within its mixed reality division, affecting employees working on various augmented and virtual reality projects. This move reflects ongoing restructuring efforts to streamline operations and focus on core areas.
💡 HoloLens 2 Continues: Despite the layoffs, Microsoft confirmed it will continue to sell and support HoloLens 2. This decision underscores the company's commitment to maintaining its presence in the mixed reality market, even as it navigates internal changes.
📉 Market Implications: The layoffs signal a shift in Microsoft's strategy, likely aimed at optimizing resources and prioritizing high-impact projects. This restructuring could impact the development timeline of future mixed reality innovations but ensures current products remain available to consumers.
TODAY’S TOP NEWS
Job Openings Dropped Again
📉 Job openings in April 2024 slipped to 8.06 million, marking a decrease of nearly 300,000 from March, reaching the lowest point since February 2021. This downturn suggested a cooling job market, raising concerns among economists.
💼 Despite the decline, the job market still showed signs of resilience, with certain sectors continuing to exhibit strong hiring trends. However, the overall drop pointed to a potential shift in employer confidence and economic outlook.
📊 Analysts speculated that the dip in job openings might be linked to broader economic uncertainties and cautious business strategies. This trend underscored the need for adaptable workforce policies and strategic planning to navigate the evolving employment landscape.
NOTABLE POSTS
only 7 hours, 55 min and 35 more years until I'm done with work
— memes.xlsx (@ExcelHumor)
11:31 AM • Jun 4, 2024
1970s: Mick Jagger
2020s: Chip Jagger
— litquidity (@litcapital)
3:09 PM • Jun 4, 2024
Summer Intern // 5th Year VP
— Overheard on Wall Street (@OHWallStreet)
4:17 PM • Jun 3, 2024
you’re laughing? chatgpt, claude and perplexity are all down at the same time and you’re laughing?
— sophie (@netcapgirl)
4:09 PM • Jun 4, 2024
KEEP READING
Paramount leadership team outlines job cuts, streaming JV plans at annual meeting (CNBC)
Current and former OpenAI employees warn of AI’s ‘serious risk’ and lack of oversight (CNBC)
India’s Narendra Modi declares victory despite election blow (CNBC)
Moscow derides peace summit; Ukraine says using Western weapons to strike Russia could be a game changer (CNBC)
San Diego Padres player Tucupita Marcano banned for life by MLB after betting on games (CNN)
Shohei Ohtani’s former interpreter pleads guilty to gambling-related theft charges (CNBC)
Bill Ackman is probably about to get a lot richer. And much louder (CNN)
FCC ends affordable internet program due to lack of funds (CNN)
Profits are up, AI is ascendant, and California is back on top in the 70th edition of the Fortune 500 (Fortune)
25-year-old Anthropic employee says she may only have 3 years left to work because AI will replace her (Fortune)
WHAT WE’RE WATCHING
OUR FAVORITE TOOLS & RESOURCES
Quiver Quantitative — Quiver allows retail investors to tap into the power of big data with insights into things like congressional trades as they are disclosed
Perplexity — Perplexity AI is an AI-chatbot-powered research and conversational search engine
The Market Ear — Live news, analysis and commentary on what moves markets and trading
Coinmarketcap.com — Crypto market data
Finviz — Financial visualizations
Trading Economics — Economic calendar
CME FedWatch Tool — Market-implied probabilities of future levels of interest rates
Dataroma — Track stock picks and portfolios of legendary value investors such as Warren Buffett
ChatGPT — Large language model-based chatbot powered by generative AI
Notion AI — Notion AI is a writing assistant that can help you write, brainstorm, edit, summarize, and more
Vimcal — Lightning-fast calendar and AI scheduling assistant
How would you rate today's newsletter? |
The Bull vs. Bear Merchandise Promotion is a limited time campaign that begins on December 1, 2023 at 12:00 AM ET and ends on the date that there are no more Rewards. This Promotion is available to any registered MoneyLion user who is a legal resident of the 50 United States or the District of Columbia and who has reached the age of majority in their state as of the beginning of the Promotional Period. See terms and conditions here.
This advertising email was sent to you because you have a MoneyLion account. If you would like to unsubscribe, please do so using this link. We respect your right to privacy. Please do not reply to this email with sensitive information, such as an account number, Social Security number, date of birth, bank account information, PIN, password, or Online ID. The security and confidentiality of your personal information is important to us. If you have any questions or want to read more, please visit our Help Center.
MoneyLion and Pathward do not provide, nor do they guarantee, any third-party product, service, information, or recommendation. The third parties providing these products or services are solely responsible for them, as well as all other content on their websites. MoneyLion is not liable for any third party’s failure with regard to those advertised products, services, and benefits. These advertised products and services may not be FDIC insured or bank-guaranteed, and may be subject to a different privacy policy than MoneyLion’s. You should check individual offers, products, and services to become familiar with any applicable restrictions or conditions that may apply. MoneyLion may receive compensation from third parties for referring you to the third party, their products or to their website.
The influencer, creator and other content provided in the MoneyLion App (“Content”) is for informational and entertainment purposes only and should not be construed as legal, tax, investment, financial, or other advice. All Content is intended to be of a general nature, does not address the circumstances of any particular individual or entity, and may not constitute a comprehensive or complete statement of the matters discussed. MoneyLion is not a fiduciary by virtue of any person’s use of or reliance on the Content. You should consult an appropriate professional if you require any legal, tax, investment, financial or other advice.