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Public.com presents the rundown, your daily market update in under 10 minutes. My name is Zaydadmani and today is Friday, April 10th. In today's episode, we'll break down the March inflation report and why gas prices are driving the biggest CPI jump since 2022. We'll also tell you why Jerome Powell and Scott Besant called an emergency meeting over an AI model. Then stick around to the end of the show to find out why the Department of Justice is investigating the nf. Got a great show for you today. Let's go. Stocks kept the rally going on Thursday with the S&P 500 up 6% and the Nasdaq gained 0.8%. Stocks have gone up for seven straight days now, which is the longest winning streak since October. The Dow Jones actually turned positive for the year, but still don't care about the Dow. So, you know, there were some concerns that the ceasefire with Iran was falling apart because of Israel's continued strikes on Lebanon. But then Israel agreed to open direct negotiations with Lebanon, so investors seem to think the ceasefire will hold. The US And Iran are meeting in Pakistan this weekend. So hopefully there's going to be more progress announced next week and this rally will keep going. The speed of which the market bounced back is kind of insane. We saw this happen with Liberation Day last year. Same thing happened this time with the with the war. The S and P has gone up around 7% in the last seven days, while the Nasdaq has gone up nearly 9%. So the stock market took the stairs down during the war and then took the elevator right back up. Now, let's hope the markets aren't celebrating too early because, you know, oil prices are still elevated, trading near $100 a barrel, and gas is $4 a gallon at the pump. Now, speaking of elevated gas prices, let's talk about inflation, because this morning we got the March C CPI report and inflation, as expected, came in pretty hot. Consumer prices in March jumped 0.9% month over month, which is the biggest monthly jump since 2022. And annual inflation came in at 3.3%, you're not a surprise here. But three quarters of that jump came from gas prices, which surged 21% in March. But if you look at core inflation, which is what economists in the Federal Reserve tend to focus on because it strips out volume volatile prices like food and energy. Core inflation was up 2.6% in March compared to a year ago. Now that's still higher than the Fed's 2% target, but it's not too bad. But look, this was just the first data point that we have on how the Iran war and higher oil prices are impacting the US Economy. Now we'll have to see how long the effects of the higher prices linger on the economy. Because the problem is that even if there's a peace deal announced tomorrow, when the Strait of Hormuz is fully open, economists say that it could take months for prices to fully come back down. Companies are quick to raise prices, but very slow to lower them. We saw this happen during the supply chain crisis during COVID So there's a chance that higher energy prices impact inflation for weeks or even months, and that could force the Fed to wait longer when it comes to interest rates. Speaking of the Fed, the next Fed meeting is at the end of April. It could be Jerome Powell's last meeting as Fed chair. So we'll see what he has to say. And then remember, earnings season kicks off next week, so we'll see what executives have to say about inflation and higher energy prices. So, yeah, a lot of moving parts right now with the ceasefire and inflation and earnings season right around the corner. So it's a great time to get subscribed to the podcast and tune in every day to stay in the loop. Let's run through some headlines, starting with a wild story out of Washington. The Treasury Secretary, Scott Bessen, and Fed Chair Jerome Powell called an emergency meeting this week with the CEOs of America's biggest banks to discuss the cybersecurity risks from Anthropic's new AI model called Mythos. Now, you know we're Talking about the CEOs of Bank of America, Citigroup, Goldman Sachs, Morgan Stanley and Wells Fargo, all summoned to the Treasury Department on a short notice. Now for some quick backstory here. Anthropic released a limited preview of its new model called Mythos. And apparently this model is so good at identifying and exploiting cybersecurity vulnerabilities that it's freaking out government officials. The government is worried that this new generation of AI models could unlock a whole new level, level of cyber attacks targeting critical systems like banks. If hackers got their hands on this kind of technology, it could be a serious threat to the financial system. In fact, Anthropic has been so cautious about this model that they've only released it to a limited group of partners called Project glasswing. This includes companies like Apple, Google, Microsoft, Nvidia, even JP Morgan. So these companies could help secure critical systems before the AI models become widely available. Now, I started hearing about the Mythos model earlier this week and how powerful it was. And I, I just thought that it was maybe like marketing, you know. But the fact that the Treasury Secretary had to call an emergency meeting definitely got my attention. And I'm not going to lie, I kind of want to try out this new Anthropic model. Yeah, I wonder if it's ever going to be released to the public, but I'm definitely intrigued. And I got to say, man, what a year it's been for Anthropic. I mean, don't forget Anthropic is still in a legal fight with the Pentagon after the Pentagon labeled them as a supply chain risk. So yeah, a lot going on over at Anthropic. Let's shift gears and talk about tsmc. The world's largest chip maker just put up another monster quarter, reporting $35.6 billion in revenue for Q1, which is up 35 from a year ago and a new record for the company. Now there was some concerns that the war in the Middle east would have an impact on supply chains and investments in semiconductors, but so far there's been no immediate impact. In fact, revenues in March for TSMC were up over 45%, which shows that demand is accelerating, not slowing down. Wall street analysts are now raising their revenue forecast for TSMC moving forward. TSMC stock is now getting near record highs again. Shares are up 30% this year and way outperforming their biggest customers like Nvidia which is flat for the year, and Apple which is down 4%. We're going to learn more about TSMC's business on April 16th when they release their full earnings report along with an updated outlook for the current quarter and for the full year. Foreign Lets talk about some stocks making moves today. Shares of CoreWeave are popping this morning after the AI cloud company announced a multi year deal with Anthropic to power its Claude AI models. Core Weave's business model is essentially building data centers and packing them with Nvidia GPUs and selling that capacity to tech companies so they can train and run their AI models. And it's been a big week for Core Weave. Earlier this week they announced a $21 billion deal with Meta. Core Weave now works with nine of the top 10 AI model providers. The only holdout is Elon Musk is X AI. Core Weave stock is up around 7% this morning and up more than 20% in the last five days. Now while AI has been great for Core Weave stock, it's been terrible for software stocks. Software Stocks got crushed yesterday and continued to fall this morning, especially ServiceNow, which is down 6, 7% after UBS downgraded the stock. UBS says that the enterprise budget for non AI software is getting squeezed as companies shift spending towards AI tools. So there is no signs of the SaaS apocalypse slowing down. Names like ServiceNow, Adobe Salesforce and Intuit are all down 30% this year and trading near their 52 week lows. Let's wrap the show with the fun fact. The NFL is under investigation by the Department of Justice. The DOJ is looking into the NFL over potential antitrust violations, specifically around how the league handles media rights. Basically, the government wants to know if the way the NFL sells its broadcast rights is making it more expensive for fans to watch football. This is something that sports fans have been complaining about for years now, not just with the NFL, but also other leagues as well, where you need to have multiple streaming apps to watch all the games and the experience is just not great for consumers. I mean, it's great for the leagues because they make more money, but not great for sports fans. Now the details around this DOJ investigation are pretty light, but if they make the experience better for sports fans, I'm all for it. Now the NFL did say that 87% of its games are still on free broadcast TV, so they're pushing back hard on this. So we'll see where this investigation ends up going. And as a sports fan though, I just wish there was like a sports super app that would have all the sports on so we wouldn't have to shuffle through all the apps to find the games we want to watch. I think the NBA is the worst of this. There's games on so many different apps and I can't even watch my local Houston Rockets because I have to subscribe to a cable package. Like there's no streaming option. It's just very frustrating for sports fans. So someone please figure this out. Like Apple should just write a blank check to all these sports leagues and get all the sports rights and put it on Apple TV or something. Apple's saving all that money from not investing in AI. Just throw it all into sports. Well, all right guys, that's the rundown for today. That's the rundown for this week. Hope you guys enjoyed today's episode. If you did and you have like five extra seconds, consider giving us a five star rating on Apple, Spotify, YouTube, wherever you listen to your podcast. And if you are listening on Spotify, don't forget to vote in today's Spotify poll. Leave us a comment on Spotify. All that engagement really does help us out and it helps other people for Find the show. Thank you guys so much for listening, watching and commenting. Shout out to Mike and Connor for all the work behind the scenes and we'll see you guys back here tomorrow.