Investors do not sweat in economic shrinkage

Welcome to your return! Do you know where are your friends? No seriously. Are you? If you are part of the Gen Z, there is a good opportunity to track its sites with the Find My Friends app. The rest of us … Not much.

In the newsletter today, an issue The economy is heading in the right direction It grows.

What is on the deck

Markets: Three large things will learn the trainees in the castle during Their first week of the job.

Technology: What analysts expect before Apple’s big annual event.

a job: Online communities for Help people who have been demobilized They acquire steam.

But first, do not sweat it.

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The big story

Economic optimism

It turns out that the economy may be fine after all.

After a lot of handwriting about what the future might hold, solid data indicates a good condition.

The latest good news was May Better than expected Job report. 139,000 jobs were added more than 126,000 economists expected.

I do not mean to be very optimistic – when I mentioned the topic of this newsletter for my main, they responded seriously, “Is this?” But investors also feel a great improvement in things.

The Leuteold Group wrote in a recent note that the market believes that the American economy will continue to grow and trade like There is no “recession at all”, “ Kristen Ji writes.

The central point in the investment company argument is the periodic S&P 500/defensive, which compares the economic sensitive sectors with consumer foodstuffs. The higher the number of upward investors on the prospects of the economy.

Last month, the percentage reached the highest level ever at 1.19, which means that periodic stocks have a 19 % advantage over that defensive. Translation: Investors do not sweat in shrinkage.

This does not mean that we are completely clear.

(You did not think that all sunlight and rainbows would be, right?)

Bank of America, for one, recently warned of two Large sales signals in stocks close to flashingWilliam Edwards writes.

One of them is the amount of money flowing to global stock boxes: approximately 1 % of their current assets under management within four weeks. The other is that the vast majority of country’s indexes (84 %) trades higher than their moving goals. Both signals indicate that investors may be very difficulty for their interest.

But Bofa’s warning is like a lot of fears about the economy and the market these days: things Be able to It is happening.

This does not mean that these concerns are not valid. The uncertainty about the customs tariff remains a real question. And if the United States is published a The second quarter of the dumpling of GDPIt will be in a technical stagnation. However, these issues have not necessarily achieved economic data. Outside last week ADP function data is the weakest than expectedThings look good. On Wednesday, it will be another opportunity to review difficult data with the monthly inflation report.

3 things in the markets

1. Breaking: Doctor Douom. Detailed: Dr. Boom. Nouriel Roubini has been known as “Dr. Doom” for Wall Street 17 years ago, but recently it looks positive. Robini has expanded the scope of the recession and believes that the United States is heading to an investment boom – and Tell Bi why.

2. How to emerge in the inner training of the castle. The head of the campus, Matto, told Bi Three keys for success The Ken Grifin hedge box (and his sister company in the market, Citadel Securities) learns in the first week.

3. Is the JPMorgan Syndicate? Certainly, non -satisfied employees hope to do so; They are largely organized in response to the bank’s RTO delegations. If there is a similar effort in Wales Vargo is any signal, however, the workers at Jimmy Damon Company Long road forward.

3 things in technology

1. The company said it will maintain the “number of flat employees”, or operating expenses, according to a copy of an internal email obtained by BI. The company is still employing, but keeping the fixed budget may encourage managers to get smarter with compensation expenses, Eugene Kim reports from BI.

2. Nafidia’s competitors rise. The costly and combined NVIDIA chips lead competitors to search for more efficient solutions. Many of them descend from status with chips to specific tasks, industries, from high -frequency trading to sovereign intelligence, already Stay away from nvidia.

3. The Great Apple Day may become embarrassing. The annual developer conference of the company worldwide is famous for its cheerful products advertisements, and attracting fanatics and investors to its headquarters. But this year, there will be there Some elephants in the room. Peter Kafka collapsed from bi Tim Cook problem.

3 things at work

1. Corporate pride month is less colored. Some companies deceive their support LGBTQ amid cultural and political pressure. Regardless of how companies continue, though, No one looks happy.

2. Baker Tele 🤝moss Adams. Taking into account the PE accounting, these former competitors join efforts, and they integrate to create the sixth largest CPA consulting company in the United States. Bi speaks with CEOs About the reason for concluding a deal.

3. It was demobilized? There is a set of support for that. It is clear that the demobilization of workers not only affects the “bad” employees. Now, online communities help remove the stigma and return people to their feet. From Substack to Reddit, Here is how the unemployed gathered.

In other news

What happens today

• The annual Apple Worldwide Developers opens with Keynote by CEO Tim Cook.
• The new American travel ban, which affects 19 countries.
• It is Bill and Ted. Be excellent and a party on men.

Al -Ollamers team today: Dan Defrancesco, Deputy Editor and Editor, in New York (on parents ’vacation). Halham Bullock, Editor -in -Chief, London. Grace Litt, Editor, in Chicago. Amanda Yen, co -editor, in New York. Lisa Ryan, Executive Editor, in New York. Lina Patarags, head of the office, in Singapore. Ella Hopkins, co -editor, London. Elizabeth Cassolo, a colleague, in Chicago.