TOGETHER WITH

Hey there weekday warrior,

Apologies in advance for the short newsletter today. I’m writing this from my bathroom floor (in the fetal position). The norovirus is ravaging my household. It ain’t pretty, you guys.

I hope to be fully operational tomorrow. Keep me in your prayers.

Enjoy the next 3 minutes and 17 seconds of blue-chip news and commentary.

Keep on snapping necks and cashing checks,

– tyler

So you’re telling me there’s a chance?

We are so back…

As promised by the White House over the weekend, the US got a temporary trade deal done with China. The US and China will pause reciprocal tariffs for the next 90 days.

That doesn’t mean tariffs will go away altogether. The land of the free and the home of the brave will still collect the 10% baseline tariff, plus another 20% related to the fentanyl crisis.

Still, 30% is well below 125%… because math.

Treasury Secretary Scott Bessent, who led the talks for the US, gave the accommodations a great Yelp review: “We had very productive talks and I believe that the venue, here in Lake Geneva, added great equanimity to what was a very positive process.”

Now the two sides will need to finalize a long-term deal. Scotty B. is sending Four Seasons’ recs to the group chat.

Investors didn’t seem to mind that this was just trade-deal foreplay (you know, over-the-pants stuff). US markets were fully bricked up on news that DC and Beijing came to an agreement so quickly.

Inbox Zero? Cool. Net worth zero? Not so much.

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+ Discover $DFS ( ▼ 0.21% ) , the JV squad of the credit card game, just got stuffed in a locker by Coinbase $COIN ( ▲ 9.01% ) . The crypto exchange will replace Discover in the S&P 500 (ok, so technically, Discover is in the process of getting acquired by Capital One). COIN mooned on the news, mostly because major ETFs and funds will need to buy up a ton of Coinbase to rebalance their portfolios.

+ Fox: *watches CNN+ flop spectacularly*

Also, Fox: “Hear me out… a streaming service.”

During its earnings call Monday, Fox $FOXA ( ▲ 1.12% )  unveiled the “Fox One” streaming service… not to be confused with Fox Nation, which appeals to dads in their WW2 era. One will showcase all of Fox’s content, including the NFL and whatever Megyn Kelly clones offer up “fair and unbiased news.” Still no word on pricing.

The app is Fox’s attempt to pick up the pieces after Venu fell through. You might recall that pressure from regulators forced Fox, Warner Bros. Discovery, and Disney to abandon their sports mega-streamer dreams.

+ Ladies, if he only takes you to movie dates on Wednesdays, it might be time to look for a new man. AMC $AMC ( ▲ 4.98% )  (remember them?) will begin offering 50% off tickets on Wednesdays starting July 9th. And have we learned nothing from MoviePass?

+ Imagine buying a gym when Ozempic exists. PE shop TPG is buying budget gym (for everyone who wants to look good in their Target bathing suit this summer) EoS for $1.5B from another PE shop. And I think we can all agree that the cold plunges and saunas EoS is known for are going to be part of “fat trimming” TPG implements.

+ US stocks “surged to close near the highs of the session on Monday after a US-China deal to temporarily slash reciprocal tariffs offered relief to markets worried about a trade war.” (Yahoo! Finance)

+ The 10-year yield “moved higher on Monday after the U.S. and China agreed to slash tariffs on each other's goods, a move welcomed by investors.” (CNBC)

+ Oil “prices rose about 1.5% to settle at a two-week high on Monday, after the U.S. and China agreed to temporarily slash tariffs, raising hopes of an end to the trade war between the world’s two biggest economies.” (Reuters)

⏪ Yesterday…

+ Monday.com, Hertz, and Redwire reported before the bell

+ Rigetti, Archer, NuScale, Plug Power, Simon Property Group, GigaCloud, Indie Semiconductor, and ZoomInfo Technologies reported after the bell

+ Samsung held a launch event for the Galaxy S25 Edge

⏩ Today we’re keeping an eye on…

+ JD.com, On Holdings, Sea, Intuitive Machines, CyberArk, Under Armour, and Petroleo Brasileiro report before the bell

+ Nu Holdings and Oklo drop earnings after hours

+ The Consumer Price Index report for April drops

Yesterday, I asked, “Someone owes you $78.46. They tell you to Venmo request them. What amount do you send the request for?”

51.1% of you said “$78.46.”

Here’s what some of you guys had to say…

• $78.46: “Depends who it is but I might just do 78.69 because I have the mind of a child.”

• $79.00: “54 cent processing fee because I took responsibility and covered the original payment.”

• $78.00: “Just round down. If you do exact change you look stingy, and rounding up is asking for more than they owe. ”

• Other: “$75.00 But every time I see the person for the next year, I remind them they still owe me $3.46.”

Here’s today’s question…

I drink ginger ale exclusively when I am sick/hungover. Lots of options in the game…

Oh, and one more thing…

Does this look like the face of a guy you should take financial advice from?

No, it’s the face of an individual who is financially irresponsible/dumb enough to be talked into spending money on a family photo shoot that he could have just done with his iPhone. So, act accordingly...

This is not financial advice. Nothing in this newsletter is an investment recommendation. All content is created for entertainment, educational, or informational purposes only. Do your own research, or do yourself a favor and hire a professional.