Wednesday☕️

Apr 12, 2023 • 4 min read

Trending:

Markets/Economies:

US CPI (inflation) data will be released today @8:30 AM EST.
In March, real estate was the most shorted industry across global equities, per Bloomberg.
Yesterday's US stock market:

X Corp:

Twitter, Inc. has now become Elon Musk's X Corp. Musk envisions X Corp as an "all-in-one app," aiming to cater to multiple user needs.
The significance of this move lies in X Corp.'s ambition to emulate the success of China's WeChat, a popular super app.
Super apps like WeChat provide a seamless user experience by combining various services, including social media, messaging, payments, ride-sharing, food delivery, and more, all within a single platform.
By merging Twitter into X Corp., Elon Musk hopes to create a similar super app on Twitter that offers a range of services to its users, potentially transforming the way people interact with technology and access various services.
State Filing:

Walmart:

Walmart announced the closure of four Chicago stores due to ongoing financial losses.
Walmart statement: “Our Chicago stores have not been profitable since we opened the first one nearly 17 years ago. These stores lose tens of millions of dollars a year, and their annual losses nearly doubled in just the last five years.”
"We have invested hundreds of millions of dollars in the city, including $70 million in the last couple years to upgrade our stores and build two new Walmart Health facilities and a Walmart Academy training center."
"It was hoped that these investments would help improve our stores’ performance. Unfortunately, these efforts have not materially improved the fundamental business challenges our stores are facing."
Local officials are concerned that the loss of these stores may lead to job losses and reduced access to affordable goods, potentially exacerbating existing socioeconomic issues.

Business:

Billionaire Ken Griffin has given $300 million to Harvard University.
Apple's Mac shipments fell 40.5% year over year in Q1 2023.
OpenAI will start paying people $20,000 to help find bugs in its artificial intelligence systems, such as the ChatGPT chatbot and other models.

Statistic: