TLDR

MARKET RECAP → All three major indexes rose throughout Friday, boosted by earnings successfully beating expectations and recent trade deals as the tariff deadline approaches. The S&P 500 (VOO) posted yet another record close, bumping the tally up to 13 record closes in 2025.

FLORIDA'S IMMIGRATION GAMBIT → Florida opened a new migrant detention center and partnered with ICE on deportation flights, aiming to circumvent federal inaction. Lawsuits are already piling up as the state leans on emergency powers to justify the bold move. Branded with gator flair, the effort is heavy on symbolism and poised for a legal clash with national implications.

PALANTIR CRACKS TOP 20 → Palantir (PLTR) rose 3% to a record high Friday, pushing its market value to $375 billion and into the top 20 most valuable U.S. companies. It trades at 273x forward earnings, outrun only by Tesla (TSLA).

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Politics

Florida's Immigration Gambit

DeSantis launches aggressive new strategy: Florida Gov. Ron DeSantis is spearheading a state initiative to detain undocumented immigrants and facilitate their deportation in cooperation with ICE, citing federal inaction as justification. The program centers on a newly built detention facility nicknamed “Alligator Alcatraz,” with room for roughly 1,000 detainees and capacity to expand further.

Legal fault lines are already forming: Immigration enforcement falls under federal jurisdiction, but Florida is using a state emergency declaration to justify its involvement. Multiple lawsuits are in motion, with critics warning of overreach, racial profiling, and due process concerns. DeSantis appears ready to provoke a Supreme Court showdown over states’ rights on immigration.

Symbolism meets spectacle: The name “Alligator Alcatraz” and promotional use of Florida wildlife imagery are part of a theatrical rollout aimed at stirring national attention. While the gators aren’t real security features, the message is clear: Florida’s drawing hard lines, and daring Washington to stop it.

Tech

Palantir Cracks Top 20

Stock hits new record as valuation soars: Palantir (PLTR) rose about 3% Friday, hitting another all-time high and lifting its market cap to $375 billion. That milestone puts it among the 20 most valuable U.S. companies, surpassing Home Depot (HD), Procter & Gamble (PG), Bank of America (BAC), and Coca-Cola (KO).

AI momentum fuels rally: The stock has more than doubled in 2025, powered by investor enthusiasm around Palantir’s artificial intelligence tools and expanding government contracts. U.S. government revenue grew 45% year-over-year last quarter, helping drive total sales up 39% to $884 million.

Valuation defies gravity: Palantir trades at 273 times forward earnings, well above every top-20 peer except Tesla (TSLA), which trades at 175. Despite its $375 billion valuation, Palantir’s $3.1 billion in trailing 12-month revenue makes it the smallest by sales among the top 20 U.S. firms.

BULL VS. BEAR

KEEP READING

Intel drops 9% as chipmaker’s foundry business axes projects, struggles to find customers (CNBC)

Trump says he believes Powell is ready to start lowering rates (CNBC)

Paramount Has a $1.5 Billion South Park Problem (Wired)

NFL will fine more than 100 players for reselling Super Bowl tickets at a profit (CNBC)

Sam Altman warns there’s no legal confidentiality when using ChatGPT as a therapist (TechCrunch)

How to Change Your Money Mindset: 9 Tips for Abundance Thinking (ML)

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