Stocks Boom Despite Rate Hike: Jerome Powell and the Fed announced a Rate Hike yesterday but they assured investors that a bigger rate hike would not be coming in the near future. This gave investors some much needed confidence. 

 

Job Description of the Fed...The Fed essentially has two jobs. 1.) keep inflation low & 2.) keep the job market vibrant. This is a tough balancing act because as the job market grows and becomes healthy more money floods the market and inflation is tough to keep in check. On the other hand if inflation is low and not a lot of new money is entering the market then employers tend to not be so eager to hire and expand business operations. It is a tough job and Jerome Powell and company have their work cut out for them. This is perhaps the only time you will here C3 being sympathetic to the Government.

 

Lyft Crashes: The popular ride sharing app lost almost 30% of its value yesterday because its profit outlook was so dismal. Uber is trying to distance it self from its failing competition by saying it does not need to spend major dollars on attracting drivers like Lyft does.

 

TurboTax and parent Company Intuit has to pay $141M for false advertising of their product. Turns out TurboTax is not Free, Free, Free!

 

John Doerr donated $1.1B to Stanford to create a school for Climate Change. Generous giving like that is great to see, but the cause is a bit misguided. Secular left wing ideology has brought on charitable giving in a big way, but the causes are not really things Christians can get behind. Climate Change concern is of course not bad in its own right, but think about all the donations to the abortion providing industry, the critical race theory promoters and the transgender legislation bills. As Christian Investors and philanthropists we need to make sure we are matching the secular donations dollar for dollar (or beating it). Otherwise, we will stay on the losing side of the ongoing culture war.

 

The leaked document that suggest Roe v. Wade could be overturned. This document was leaked by a liberal source hoping to cause panic and mayhem and they absolutely succeeded. This is a tactic to rally the democrats base before midterm elections that were predicted to be a Red wave. If Roe v. Wade is struck down then each state would have the rights to implement their own abortion laws. Many states have plans to implement abortion bans if Row is stuck down but even more states have plans to legalize abortions in more extreme ways. The fight for life will forever be ongoing.

 

Quick Hitters...

 

• Elon hinted at taking Twitter Public after a few years of ownership.
• The SEC is hiring new personal for its crypto oversight unit.
• Alibaba Crashed after someone named Ma was arrested. Investors thought it was owner Jack Ma...it wasn't.
• Coinbase CEO predicts 1 Billion Crypto Users within a decade.

>>>Kevin McCullough Money Monday Interview 5/2/22 (Free Stock Evals)<<<