We probably could use some reasonable gun laws that 80% of Americans agree on.  In fact, 80% of Americans would agree on a lot of things, but our politicians are so corrupted by the far left and right, its impossible to get anything done! 

Huge rally this week. Stocks up 4% in 4 days. 

• Layoffs at PayPal, Netflix,  Robinhood and Bolt (one click startup payment company)
• Hiring Freeze/slowing at Meta, Uber, Coinbase, Microsoft, Nvidia.  

Fed minutes indicated will still increase 0.5% in June and July. But then open to “wait and see”.

Housing market: 

• Mortgage rates up: 2.5% to 5%+ 
• Home Sales are down Jan to April. 6.5m to 5.6. 15% down. Spring/summer should be up!? 
• Single family starts lowest since Oct 2021. 
• Mortgage purchase applications slowest since May 2020. 
• Homebuilder sentiment lowest since June 2020. 

Energy. Gasoline up 80%. 

Crypto is not a hedge: 

• Crypto market cap has fallen from $2.3t to 1.3t. 
• $4.5b fund at Andreeson Horowitz. A16z
• My Luna is $0. 
• BTC. Down 56%
• ETH. Down 60%. 
• DCA in still recommended. 

Apple holding up well in the News. 

• $144, down 21% YtD. was down 25%
• Flat iPhone sales. 220m, same as 2021. Expected 240. 
• Tormer Tesla Autopilot software engineer who left to join Apple’s secretive car project last year, has left Apple to join Luminar.
• Lidar vs. AI real cameras. Tesla showing different types of cars, doors open, garbage cans, cones, traffic lights…insane! 

Tesla: 

• Diner
• 3700 charging stations globally.
• Elon committed to buying Twitter.  

Netflix: 

• Netflix Games suck. 
• Stranger Things. Can it have a Squid Game effect? Its been 3 years and only show streamed/seen more was final episode of GoT. 

In Closing: 

• Ricky Gervais on Netflix. 
• Tesla Charger competition. https://www.wsj.com/articles/tesla-supercharger-competition-race-11653581057?mod=hp_featst_pos5