- MoneyLion Markets Daily Newsletter
- Posts
- The Sun Also Rises 🌅 📈
The Sun Also Rises 🌅 📈
TLDR
MARKET RECAP → The Dow Jones (DIA) rose on Wednesday, marking its sixth consecutive day of gains, as investors brushed aside tech sector jitters.
TIKTOK CHALLENGES U.S. BAN → 🔍 TikTok sues the U.S. government, claiming a ban violates the First Amendment by unfairly targeting the platform and lacks evidence to support national security claims.
TESLA FACES NHTSA DEADLINE → 🚨 Tesla (TSLA) must deliver detailed Autopilot changes to the NHTSA by July 1 following a recall affecting 2 million vehicles, or risk hefty fines amidst ongoing safety and operational challenges.
Was this email forwarded to you? Sign up for free here.
TODAY’S TOP NEWS
TikTok Challenges U.S. Ban
📜 First Amendment Violation Claimed: TikTok has filed a lawsuit against the U.S. government, arguing that the new law mandating its sale or ban violates the First Amendment. The company describes the law as an "unprecedented violation" that unfairly targets a single platform, restricting free speech and penalizing its over 1 billion global users.
⚖️ Legal Arguments and Implications: TikTok contends that the legislation, which forces its Chinese owner ByteDance to divest or shut down, does not adequately justify the national security concerns it purports to address. Furthermore, TikTok argues that the law fails to prove any specific harm related to data security risks or propaganda, infringing on constitutional rights without substantial evidence.
🏛️ Broader Impact and Legal Outlook: The lawsuit emphasizes the potential for this law to set a precedent where the government could similarly force other platforms, including news outlets, to sell under national security pretenses. Legal experts suggest that the bipartisan support for the law could influence judicial deference, although the absence of clear risk evidence complicates the court's decision-making process.
TODAY’S TOP NEWS
Tesla Faces NHTSA Deadline
🚘 Recall and Compliance Pressure: The National Highway Traffic Safety Administration (NHTSA) has demanded that Tesla (TSLA) provide detailed information about the modifications made to its Autopilot system following a voluntary recall in December. The recall, affecting approximately 2 million vehicles in the U.S., aimed to enhance driver-engagement systems. Tesla has until July 1 to comply or face fines up to $135.8 million.
🔍 Safety Scrutiny Continues: Since the software recall, there have been at least 20 Tesla crashes suspected to involve the Autopilot system. This scrutiny follows a three-year investigation by the NHTSA, which linked Tesla’s Autopilot to at least 467 collisions and 14 fatalities between January 2018 and August 2023 due to inadequate driver engagement warnings.
📉 Operational and Financial Challenges: Amidst this regulatory pressure, Tesla is undergoing a significant reorganization and facing extensive layoffs, which could impact its Autopilot and vehicle-safety engineering teams. This comes as Tesla's vehicle sales have declined in the first quarter, prompting CEO Elon Musk to focus more on advancing Tesla's AI and autonomous driving technologies.
NOTABLE POSTS
Now THIS is what we’ve been waiting for
— Overheard on Wall Street (@OHWallStreet)
6:00 PM • May 7, 2024
My culture is not your “outfit desperately in need of an update”
— JUNK BOND ANALYST (@junkbondanalyst)
4:42 PM • May 7, 2024
POV: you just got staffed on a deal that is supposed to be “a great learning experience”
— Overheard on Wall Street (@OHWallStreet)
11:23 PM • May 4, 2024
KEEP READING
Altimeter’s Brad Gerstner says he trimmed positions across portfolio after 2024′s strong tech run (CNBC)
Self-driving startup Wayve just raised $1 billion from Nvidia, SoftBank, Microsoft and more (CNBC)
Gold bars are selling like hot cakes in Korea’s convenience stores and vending machines (CNBC)
Reddit CEO talks advertising, says consumers and companies are attracted to the platform (CNBC)
Journalist sounds alarm on dangers of propaganda, calling it ‘one of the worst crises for American democracy this century’ (CNN)
Panera is dropping Charged Lemonade, the subject of multiple wrongful death lawsuits (CNN)
Maryland is about to get $350 million from insurance in bridge collapse (CNN)
MoneyLion’s First Quarter 2024 Financial Results (ML)
WHAT WE’RE WATCHING
OUR FAVORITE TOOLS & RESOURCES
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
Vimcal — Lightning-fast calendar and AI scheduling assistant
Notion AI — Notion AI is a writing assistant that can help you write, brainstorm, edit, summarize, and more
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.