Wednesday morning news drop
Lumber Futures’ Rout Deepens to 27%, Hinting at Rally’s End While builders are still paying record-high cash prices for lumber, the futures market is signaling that the historic rally could be coming to a close. (Bloomberg)
US and European companies report forecast-crushing earnings rebound Earnings season in the US is coming to a close, and while it is still in full swing across the Atlantic, one thing is clear: analysts far underestimated how much of a bonanza the global economic recovery delivered in the first quarter of 2021. (Financial Times)
Lamborghini Will Drop $1.8 Billion on Electrifying Its Supercars From Aventador to Urus, each model will be offered as a plug-in hybrid by 2024. An EV is on the way later this decade. (Bloomberg)
Short Their Optimism We just saw the best 52-week period for stocks in over 75 years. You know what these magazine covers were telling you the week that rally started? (All Star Charts)
The Battle for a $15 Minimum Wage Is Already Won The Fight for $15 is winning a different way: by altering the norms of wage-setting in the U.S. Fast-food merchant McDonald’s Corp., the archetypical low-wage employer, just announced that it will raise its average wages to $15 an hour by 2024. This follows a similar move by Chipotle. Amazon raised its minimum wage to $15 back in 2018. Costco, Starbucks, and a variety of other companies have similar policies. (Bloomberg)
Five Things My Roomba Does Better Than My Tesla (Not including vacuuming.) There are two kinds of companies: those that make products, and those that make promises. A great product does what it claims to, but I expect even more from a great technology product. If it has an app, I expect the simplicity, reliability and upgradability of my iPhone. I don’t care about the details. I don’t care about promises. There’s no better promise than a product that just works. (The Drive)
Once-in-a-Lifetime Chance to Start Over It’s time to prepare for a new and better normal than your pre-pandemic life. (The Atlantic)
Is Buying a Piece of Virtual Art Better for the Environment? Online consumption behaves exactly like real-life shopping, devouring more and more resources every year (Walrus)