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Thursday, May 22nd
“Tradition is the illusion of permanence.”
-Woody Allen
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Markets Today
🌏 Asia-Pacific: Down
🇪🇺 Europe: Down
🇺🇸 United States: Down
🛢️ Oil: Down
⚡Crypto: Up
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Major Market Events
- House passes Trump’s ‘big, beautiful’ tax bill by a single vote. Now it’s on to the Senate.
- US weekly jobless claims fall in sign of stable labor market. This suggests that the economy maintained a steady pace of job growth in May.
- Fannie, Freddie OTC shares soar after Trump comments on potential spin-off. The President has said he wants to explore turning them into regular public companies.
🤔 My Thoughts
Did you see what happened to U.S. solar stocks today?
They took a big hit in premarket trading after the House passed Trump’s massive tax and spending bill.
Looks like it might cut a bunch of green-energy subsidies that the renewable sector’s been relying on. Sunrun got slammed the hardest, dropping as much as 33%. Complete Solaria wasn’t far behind, down nearly 22%, and Enphase, Maxeon, and SolarEdge each fell between 10% and 15.6%.
These stock were always “vibe” stocks, but making big bets on companies that only work because of government slush funds is dodgy…
Betting that the government will never stop spending is a good one… but WHAT the government will spend the money on is a moving target.
Here’s something we like better:
