TLDR

MARKET RECAP → MARKET RECAP → The stock market's recent upward trajectory stumbled on Monday, with the Nasdaq (QQQ) retreating from its record peak despite Nvidia's (NVDA) gains amid AI sector enthusiasm. Bitcoin (BTC) surpassed $67K while at least one analyst says it could reach an all time high before this week ends.

APPLE'S ANTITRUST TUNE→ 🎵 Apple (AAPL) faces a €1.8 billion EU fine over music streaming stranglehold, striking a sour note in its symphony with regulators and amplifying the discord in Big Tech's regulatory opera.

FLEET REFRESH → ✈️ American Airlines (AAL) turbocharges its fleet with a landmark 260-jet order from Boeing (BA), Airbus, and Embraer, steering towards a luxurious future with an expanded first-class offering amidst soaring premium demand.

MARKETS

Today’s S&P 500 Heatmap

Notable Earnings This Week

TODAY’S TOP NEWS

APPLE'S ANTITRUST TUNE

🍏 Record Fine: The European Commission slapped Apple (AAPL) with a hefty €1.8 billion ($1.95 billion) antitrust fine, accusing the tech behemoth of abusing its dominant market position by restricting music streaming app developers from informing iOS users about cheaper subscription options outside the App Store.

🔒 Restrictions and Reactions: Apple's stringent app developer restrictions, aimed at maximizing profits through its commission fees, sparked this landmark fine, marking one of the EU's most significant penalties against a tech company. In response, Apple highlighted Spotify's (SPOT) gain from the decision, defending its contribution to Spotify's success without receiving any compensation due to Spotify's external subscription sales.

📈 Broader Tech Tensions: This fine intensifies the ongoing friction between Big Tech and Brussels, especially as the EU tightens its grip on digital gatekeepers with regulations like the Digital Markets Act. Apple's recent move to open its platforms to alternative app stores underlines the significant impact of such regulatory pressures.

TODAY’S TOP NEWS

FLEET REFRESH

✈️ Massive Order Placed: American Airlines (AAL) announced a colossal order of 260 narrow-body jets, including Boeing's (BA) 737 Max 10 and Airbus A321neo, alongside 90 Embraer E175 planes, signaling a robust vote of confidence in Boeing amidst its certification and production challenges.

🔄 Strategic Fleet Upgrade: The airline is set to convert 30 Boeing 737 Max 8 orders into the larger Max 10s, aiming for an upgrade on domestic and short-haul international routes. This move reflects American's strategy to modernize its fleet and enhance passenger experience.

🔝 First-Class Expansion: Starting in 2025, American plans to revamp its older Airbus A320 and A319 planes to increase first-class seating, responding to the high demand for premium seats fueled by credit card points and a growing consumer willingness to pay for extra comfort.

KEEP READING

Ford sales jump 10.5% in February, led by gains in hybrids and EVs (CNBC)

SpaceX-backed startup says preorders for its $300,000 futuristic flying car have reached 2,850 (CNBC)

Supreme Court rules states can’t remove Trump from presidential election ballot (CNBC)

Zuckerberg, Rihanna and Bill Gates were among guests at lavish bash for son of Asia’s richest man (CNBC)

Haiti declares state of emergency after mass prison escape (CNN)

Chris Mortensen, longtime NFL insider for ESPN, dies at 72 (CNN)

General Motors recalls nearly 820,000 pickup trucks (CNN)

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