Aren’t investors sweating an economic Downturn – ryan

WELCOME BACK! Do you know where your friends are? No Seriously. Do you? If you’re part of geni, there’s a good chance you’re tracking their locations with the Find My Friends App. The rest of us… swiming so Much.

In Today’s Newsletter, The Case for the Economy Heading in the Right Direction is growing.

What’s On Deck

Markets: Three Big Things Citadel Interns Will Learn During Their First Week on the Job.

Tech: What Analysts Are Expecting Ahead of Apple’s Big Annual Event.

Business: Online communities for Helping People Who Were Laid off Are Gaining Steam.

But first, don’t sweat it.

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The Big Story

Economic optimism

Joe Raedle/Getty Images

It turns out the economic might be fine after all.

AFTER PLENTY OF HANDWINGING ABOUT WHAT THE FUTURE MIGHT HOLD, THE HARD DATICS ANCONOMY THAT’S IN DECENT SHAPE.

The Latest Good News Was May’s BETTER-TAN-EXPECTED Jobs Report. The 139,000 Jobs Added Were more than the 126,000 Economists has been expensive.

I don’t mean to be too optimistic – when i mentioned this newsletter topic to my boss, they responded Earnestly, “is it?” – But investors are Also Feeling a Lot Better About Things.

The Leuthold Group Wrote in a Recent Note that the market beliieves the US Economy Will Keep Growing and is Trading Like there’s “No Risk Risk Whatsoever,” Writes Bi’s Christine Ji.

The Focal Point of the Investment Firm’s Argument is the S & P 500 Cyclical/Defensive Ratio, which Compars Economics Sensitive Sectors to Consumer Staples. The Higher the Number, The More Bullish Investor Are About The Economy’s Prospects.

Last Month, The Ratio Hit an All-Time High of 1.19, Meaning Cyclical Stocks have a 19% Edge over defensive ones. Translation: Investors aren’t sweating a downturn.

Reuters/Lucas Jackson

That is to say to say we’re totally in the clear.

(You didn’t think it would be all sunshine and rainbows, did you?)

Bank of America, for One, Recently Warned of Two Big Sell Signals in Stocks that are Close to FlashingWrites Bi’s William Edwards.

One is the amount of Money Flowing Into Global Stock Funds: Nearly 1% of their Current Asssets Under Management with a Four-Week. The other is that the vast majority of Countries’ Indexes (84%) are trading higher than thran boving targets. Both signals suggest investors COULD BE Getting Too Bullish for Own Good.

But bofa’s warning is like a lot of the Concerns About the Economy and Market Going Around These Days: Things that could open.

That’s not to say to the world valid. The Uncetainty Around Tariffs Remains A Real Question Mark. And if the us posts a Second-Straight Quarter of GDP Contractionit will be in a technical recession. Still, Those Issues haven’t necessarily materialized in the economic data. Outside of Last Week’s Weaker-Than-Expected ADP Jobs DateThings are Looking good. And wednesday will be another chance to revise the hard date with the monthly inflation report.

3 Things in Markets

Reuters/Lucas Jackson

1. Broke: Dr. Doom. Bespoke: Dr. Boom. Nouriel Rubini has been known as wall Street’s “Dr. Doom” for 17 years, but lately he’s sounding posy. Rubini has scaled back his recession call and thinks the us is headed for an investment boom – and He Told Bi WHY.

2. How to stand out in your citadel internship. Head of Campus Recruiting Matt Mitro Told Bi The three keys to success that interns at Ken Griffin’s Hedge End (and Its Market-Making Sister Firm, Citadel Securities) Learn in the First Week.

3. Can jpmorgan be unionized? Dissatisfied Staffers Certainly Hope SO; they’re organization away in response to the bank’s rto mandates. If a Similar EFFORT OVER AT WELLS FARGO IS ANY INDICATION, Howver, Workers at Jamie Dimon’s Company Have A Long Road Ahead.

3 Things in Tech

Amazon CEO Andy Jassy

Brendan Mcdermid/Reuters

1. Exclusive: Amazon Freezes Retail Hiring Budget for This Year. The Company Said It Will Keep A “Flat Headcount Opex,” or Operating Expensses, According to a Copy of an Internal Email obtained by bi. The Company is Still Hiring, But Holding The Budget Steady Could Encourage Managers to get smarter with Compensation Expensation, Bi’s Eugene Kim Reports.

2. Nvidia’s Challengers Rise. Nvidia’s Costly and Power-Hungry Chips Are Promipting Competitors to Seek More Efficient Solutions. MANY of saying are Carving out a niche with chips for specific tasks, and industries, from High-Frequency trading to sovereign he, are already TURNING AWAY FROM NVIDIA.

3. Apple’s Big Day May Get Awkward. The Company’s Annual Worldwide Developers Conference is Known for Its Flashy Product Announcements, Drawing Fanatics and Investors to Headquuarters. But this year, there will be be Some Elephants in the Room. Bi’s Peter Kafka Broke Down Tim Cook’s problem.

3 Things in Business

Getty Images; Tyler Le/Bi

1. A less Colorful Corporate Pride Month. Some Companies Are Toning Down their LGBTQ+ Support Amid Cultural and Political Pressures. Regardless of How Companies Proceed, Though, Nobody seems happy.

2. AS PE reshapes Accounting, these forms rivalry are Jaining Forces, Merging to Create the Sixth-Largest Advisory CPA firm in the us. Bi spoke with the ceos About Why they ostrich a deal.

3. Laid off? There’s a Support Group for that. It’s Clear Layoffs don’t just impact “Bad” Employees. Now, online communities are helping Remove the stigma and get people back on their feet. From Substack to Reddit, Here’s How.

In other news

What’s Happening Today

  • Apple Annual Worldwide Developers Conference OPENS WITH Keynote by CEO Tim Cook.
  • New US Travel ban affecting 19 Countries Goes Into Effect.
  • Its Bill & Ted Day. Be excellent and party on, dudes.

The Insider Today Team: Dan Defrancesco, Deputy Editor and Anchor, in New York (on Parental Leave). Hallam Bullock, Senior Editor, in London. Grace Lett, Editor, in Chicago. Amanda Yen, Associate Editor, in New York. Lisa Ryan, Executive Editor, in New York. Lina Batarags, Bureau Chief, in Singapore. Ella Hopkins, Associate Editor, in London. Elizabeth Casolo, Fellow, in Chicago.