Myles Udland
@mylesudland.bsky.social
Head of News at Yahoo Finance. Occasional newsletterer. Dad x2.
All the election run-up talk about how deficits might start mattering to markets was focused on the spreadsheet math, but there are some plumbing-related ways this could quickly go sideways.
NEW: Sources tell my office that Treasury Secretary Bessent has granted DOGE *full* access to this system. Social Security and Medicare benefits, grants, payments to government contractors, including those that compete directly with Musk's own companies. All of it.
NEWS: Wyden Demands Answers Following Report of Musk Personnel Seeking Access to Highly Sensitive U.S. Treasury Payments System
February 1, 2025 at 9:51 PM
All the election run-up talk about how deficits might start mattering to markets was focused on the spreadsheet math, but there are some plumbing-related ways this could quickly go sideways.
Lotta green on the screen for a Nasdaq down 3% kind of day
January 27, 2025 at 4:32 PM
Lotta green on the screen for a Nasdaq down 3% kind of day
Nice chart from @joshschafer.bsky.social in here. There’s the headline read that Mag7 earnings will converge with S&P 493 this year. Alternatively: Wall St still thinks Mag7 earnings growth will reaccelerate in the second half of the year. finance.yahoo.com/news/big-tec...
January 26, 2025 at 4:21 PM
Nice chart from @joshschafer.bsky.social in here. There’s the headline read that Mag7 earnings will converge with S&P 493 this year. Alternatively: Wall St still thinks Mag7 earnings growth will reaccelerate in the second half of the year. finance.yahoo.com/news/big-tec...
Labor data is generally still hanging in, but the vibes continue to deteriorate.
"Despite reporting stronger incomes this month, concerns about unemployment rose; about 47% of consumers expect unemployment to rise in the year ahead, the highest since the pandemic recession." www.sca.isr.umich.edu
"Despite reporting stronger incomes this month, concerns about unemployment rose; about 47% of consumers expect unemployment to rise in the year ahead, the highest since the pandemic recession." www.sca.isr.umich.edu
Surveys of Consumers
www.sca.isr.umich.edu
January 24, 2025 at 3:04 PM
Labor data is generally still hanging in, but the vibes continue to deteriorate.
"Despite reporting stronger incomes this month, concerns about unemployment rose; about 47% of consumers expect unemployment to rise in the year ahead, the highest since the pandemic recession." www.sca.isr.umich.edu
"Despite reporting stronger incomes this month, concerns about unemployment rose; about 47% of consumers expect unemployment to rise in the year ahead, the highest since the pandemic recession." www.sca.isr.umich.edu
There is a drudgery in completing the tasks of a normal adult life an AI agent only adds to
OpenAI is taking its ChatGPT chatbot to the next level, adding a feature to automate tasks like planning vacations, filling out forms, making restaurant reservations and ordering groceries.
OpenAI introduces Operator to automate tasks such as vacation planning, restaurant reservations
OpenAI on Thursday unveiled Operator, which it calls "an agent that can go to the web to perform tasks for you."
www.cnbc.com
January 23, 2025 at 9:55 PM
There is a drudgery in completing the tasks of a normal adult life an AI agent only adds to
Hotspot for AI content being sued for allegedly selling content to train AI models. finance.yahoo.com/news/microso...
Microsoft's LinkedIn sued for disclosing customer information to train AI models
(Reuters) -Microsoft's LinkedIn has been sued by Premium customers who said the business-focused social media platform disclosed their private messages to third parties without permission to train gen...
finance.yahoo.com
January 22, 2025 at 10:22 PM
Hotspot for AI content being sued for allegedly selling content to train AI models. finance.yahoo.com/news/microso...
"On the more negative side, funding these data centers with debt — as opposed to MSFT funding data centers with profits — is definitely a bubble indicator... it will be interesting to see who wants to be in the business of loaning against rapidly depreciating GPUs." stratechery.com/2025/stargat...
Stargate, The End of Microsoft and OpenAI
OpenAI’s Stargate announcement and revised deal with Microsoft mark the end of the relevant portion of their partnership.
stratechery.com
January 22, 2025 at 3:29 PM
"On the more negative side, funding these data centers with debt — as opposed to MSFT funding data centers with profits — is definitely a bubble indicator... it will be interesting to see who wants to be in the business of loaning against rapidly depreciating GPUs." stratechery.com/2025/stargat...
This is fun, from @ljkawa.bsky.social
January 22, 2025 at 1:37 PM
This is fun, from @ljkawa.bsky.social
There’s just not a lot about the Trump experience that makes me think he enjoys someone else telling their followers what he’s planning on doing.
January 19, 2025 at 3:46 AM
There’s just not a lot about the Trump experience that makes me think he enjoys someone else telling their followers what he’s planning on doing.
The amount of information I can access at all times via a device in my pocket has been too much since 2009.
i don't want to hear your most boomer complaint. what's your most millennial complaint?
January 16, 2025 at 1:37 PM
The amount of information I can access at all times via a device in my pocket has been too much since 2009.
On the one hand, sure, skills are good. Gotta have em.
On the other hand, the whole point of going to Harvard is that there's value in simply saying you went there! You cannot reverse this pitch after the fact! www.wsj.com/lifestyle/ca...
On the other hand, the whole point of going to Harvard is that there's value in simply saying you went there! You cannot reverse this pitch after the fact! www.wsj.com/lifestyle/ca...
January 15, 2025 at 3:10 PM
On the one hand, sure, skills are good. Gotta have em.
On the other hand, the whole point of going to Harvard is that there's value in simply saying you went there! You cannot reverse this pitch after the fact! www.wsj.com/lifestyle/ca...
On the other hand, the whole point of going to Harvard is that there's value in simply saying you went there! You cannot reverse this pitch after the fact! www.wsj.com/lifestyle/ca...
Jack Daniel's and Woodford Reserve-maker Brown-Forman laying off 12% of staff, closing Louisville-based barrel making factory. Millennials with beards and flannels have moved on. finance.yahoo.com/news/brown-f...
Brown-Forman Announces Series of Strategic Initiatives for Growth
LOUISVILLE, Ky., January 14, 2025--Brown-Forman Corporation (NYSE:BFA,BFB) announced today a series of strategic initiatives to position the company for continued growth in the dynamic global spirits ...
finance.yahoo.com
January 14, 2025 at 1:13 PM
Jack Daniel's and Woodford Reserve-maker Brown-Forman laying off 12% of staff, closing Louisville-based barrel making factory. Millennials with beards and flannels have moved on. finance.yahoo.com/news/brown-f...
Reposted by Myles Udland
All post-election gains for US large caps are gone.
January 13, 2025 at 2:53 PM
All post-election gains for US large caps are gone.
JPMorgan has internal webpages where employees can comment on new company policies
(WSJ) - JPMorgan Chase shut down comments on an internal webpage announcing the bank’s return-to-office policy after dozens of them criticized the move and at least one suggested that affected employees should unionize, according to people familiar with the matter.
@wsj.com #RTO #WFH
@wsj.com #RTO #WFH
JPMorgan Chase Disables Employee Comments After Return-to-Office Backlash
The bank shut down a discussion on an internal website about a five-day return to office policy after dozens of employees criticized the move.
www.wsj.com
January 11, 2025 at 6:18 PM
JPMorgan has internal webpages where employees can comment on new company policies
When I was younger, I would've scoffed at the notion a 50% drop in a stock reflected an efficient market. Now, I think the opposite. finance.yahoo.com/news/rigetti...
Rigetti, IonQ stocks plunge after Nvidia CEO says 'useful' quantum computing is decades away
Rigetti Computing, IonQ, and other quantum stocks fell more than 40% after Nvidia CEO Jensen Huang told Wall Street analysts that “very useful quantum computers” are likely 20 years away.
finance.yahoo.com
January 8, 2025 at 6:38 PM
When I was younger, I would've scoffed at the notion a 50% drop in a stock reflected an efficient market. Now, I think the opposite. finance.yahoo.com/news/rigetti...
US labor market is in a really interesting place right now
Bunch of interesting stuff in the JOLTS report. Openings picking up could be a leading indicator of labor demand. But hires remain weak, quits are at new local lows, and layoffs are stronger than recent years (though still at entirely normal levels for the last economic expansion).
January 7, 2025 at 3:09 PM
US labor market is in a really interesting place right now
Great outline of today's mega-concentrated stock market from @robinwigglesworth.bsky.social, with some stats that look dicey and other arguments that make the situation seem more copacetic. on.ft.com/3W8PYzk
January 7, 2025 at 12:06 PM
Great outline of today's mega-concentrated stock market from @robinwigglesworth.bsky.social, with some stats that look dicey and other arguments that make the situation seem more copacetic. on.ft.com/3W8PYzk
Marc Rowan: "In the US, we have between $12tn and $13tn in 401k plans. What are they invested in? They are invested in daily liquid index funds, mostly the S&P 500, for 50 years. Why? We don’t know." on.ft.com/3DMzfMg
Private equity to lobby Trump for access to savers’ retirement funds
Industry hopes incoming administration will open long-restricted private investments to individual investors
on.ft.com
January 6, 2025 at 1:27 PM
Marc Rowan: "In the US, we have between $12tn and $13tn in 401k plans. What are they invested in? They are invested in daily liquid index funds, mostly the S&P 500, for 50 years. Why? We don’t know." on.ft.com/3DMzfMg
90s nostalgia is tough for peak millennials, because whereas other instances of "it was better back when" will be wrong in the usual ways, our elementary school years actually were that good. Or so they say.
NEW ODD LOTS with @coletteshade.bsky.social on what it was like in America when everyone felt happy, hopeful, and rich podcasts.apple.com/us/podcast/w...
What It Felt Like When Everyone Was Hopeful, Happy, and Rich
Podcast Episode · Odd Lots · 01/06/2025 · 44m
podcasts.apple.com
January 6, 2025 at 12:23 PM
90s nostalgia is tough for peak millennials, because whereas other instances of "it was better back when" will be wrong in the usual ways, our elementary school years actually were that good. Or so they say.
Great quarter, guys!
December 31, 2024 at 9:02 PM
Great quarter, guys!
Reposted by Myles Udland
STEM is so cool. Science is amazing. Kids should develop curiosity about how the universe works and proficiency in uncovering its secrets, so that they can most effectively optimize clickthrough rates on banner ads at the bottom of VC-funded website-apps.
December 27, 2024 at 3:22 AM
STEM is so cool. Science is amazing. Kids should develop curiosity about how the universe works and proficiency in uncovering its secrets, so that they can most effectively optimize clickthrough rates on banner ads at the bottom of VC-funded website-apps.
This has shown up in plenty of pockets of the market already but still seems that “not 2017” is the biggest 2025 risk
Big drop in consumer confidence expectations — this isn’t 2016-17:
December 23, 2024 at 3:48 PM
This has shown up in plenty of pockets of the market already but still seems that “not 2017” is the biggest 2025 risk
Reposted by Myles Udland
Two more to make history
December 22, 2024 at 8:56 PM
Two more to make history
Reposted by Myles Udland
Things lower than they were at the Nov. 6 close:
Value stocks, small caps, regional banks, industrials
Things higher:
Bitcoin (and all bitcoin-adjacent stocks), Mag 7 (espec Tesla, obv), private prison stocks
Pretty clear what we’re pricing in and not pricing in wrt Trump.
Value stocks, small caps, regional banks, industrials
Things higher:
Bitcoin (and all bitcoin-adjacent stocks), Mag 7 (espec Tesla, obv), private prison stocks
Pretty clear what we’re pricing in and not pricing in wrt Trump.
December 17, 2024 at 6:46 PM
Things lower than they were at the Nov. 6 close:
Value stocks, small caps, regional banks, industrials
Things higher:
Bitcoin (and all bitcoin-adjacent stocks), Mag 7 (espec Tesla, obv), private prison stocks
Pretty clear what we’re pricing in and not pricing in wrt Trump.
Value stocks, small caps, regional banks, industrials
Things higher:
Bitcoin (and all bitcoin-adjacent stocks), Mag 7 (espec Tesla, obv), private prison stocks
Pretty clear what we’re pricing in and not pricing in wrt Trump.
People hate change
Grocery spending as a percentage of disposable (after-tax) personal income went from ~5% pre-pandemic to 5.61% in August of 2022. They're back to 5.14% now.
December 17, 2024 at 3:53 PM
People hate change