Major stock indexes are nearing record highs, with the Dow Jones up 0.85%, fueled by expectations of Fed rate cuts and strong corporate profits. Warren Buffett trimmed his Apple holdings by $20 billion but still has a 40% stake, and is holding $182 billion in cash, suggesting the market may be overvalued. Jobless claims rose, signaling a cooling labor market, while consumer credit demand was weaker. Shopify lost $270 million in Q1, dropping shares 19%, while FTX customers are set to get funds back with interest after the crypto exchange's collapse, through asset sales including stakes in AI firm Anthropic.
Bulletin Brief
Stock market latest (WSJ)
The latest on the Dow (WSJ)
Warren’s market moves (WSJ)
US Weekly Jobless Claims (Reuters)
Financial releases this week (JHI Investments)
Shopify news (Yahoo)
FTX bankruptcy plan (CNN)
