A (0:00)

Public.com presents the rundown, your daily market update in under 10 minutes. My name is Zadod Mani and Today is Thursday, April 9th. In today's episode, we'll break down yesterday's massive ceasefire rally and why oil prices are already bouncing back. We'll also tell you about Meta's brand new AI model and Eli Lilly's weight loss pill that just hit shelves today. Then stick around to the end of the show to find out how many private jets are expected to fly in for the masters. We got a great show for you today. Let's go. Stocks absolutely ripped higher on Wednesday following the Iran ceasefire. The S&P 500 jumped 2.5%, the NASDAQ was up 2.8%, and I'll even give a shout out to the dow, which jumped 1300 points, the biggest one day jump for the Dow since April of last year. Every single sector was in the green yesterday except for energy, and that's because oil prices tanked on the hopes that the Strait of Hormuz would now reopen as part of the ceasefire agreement. WTI crude fell 16 yesterday from $112 a barrel down to $94 a barrel. That was the biggest single day drop for oil since the pandemic in 2020. So the market was celebrating yesterday as if the war is over and Hormuz is fully open. But I gotta say, this ceasefire is pretty fragile. There are already claims of the ceasefire being violated and Iran is threatening to close Hormuz again. So oil prices are now climbing back to $100 a barrel this morning. It'll be interesting to see how the markets digest the latest developments. Given how fragile a ceasefire is. I do find it pretty wild that the S and P is less than 3% away from record highs despite all the uncertainty. And you know, we are about to enter a busy period for the markets. Tomorrow morning we are getting the March CPI report which will give us our first data point on the impact that higher gas prices are having on inflation. Economists are estimating the CPI in March to jump to 3.4%, up from the 2.4% in February. So we'll break down the CPI report tomorrow morning and then next week. Earning season is kicking off, so we'll have a lot to discuss over the next few weeks. 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 Meta. Meta dropped a new flagship AI model yesterday called Muse Spark. It's the first model out of Meta's new Super Intelligence Lab, and the early results are pretty solid. The new model performs significantly better than the previous model, and according to benchmarks, the model is nearly as good as the top models from Google, OpenAI and Anthropic. Mark Zuckerberg made the announcement on thread, saying that Spark is the first model in the new Muse family of models. He said that Spark is strong in areas related to personal super intelligence, like visual understandings, health, social content, shopping and games. The new model is already available on Meta's AI app and it's going to be rolling out on Instagram, WhatsApp and the Meta Smart Glasses. You know, Zuck seems to be going after the casual users here because he admitted that Spark isn't good at coding, which is something that Chat, GPT and Claude are really good at. But he also said that Meta is working on a more powerful model code named Watermelon that's going to close the gap on coding as well. So I'm looking forward to trying this model. I mean, Meta has spent billions of dollars on AI, so I'm glad to see they've release something now. I'm still not sure if all that AI capex is going to end up paying off because I think it's going to take a lot for people to switch from ChatGPT and Claude to Meta's AI. But look, Zuck is showing no signs of cutting back on AI spend. In fact, Meta just announced a $21 billion AI cloud infrastructure deal with Coreweb this morning. This is on top of the $14 billion in commitments the two sides have already agreed to. By the way, Meta stock jumped more than 6% yesterday, and it's gone up nearly 20% since its lows back on March 27. So shout out to everyone that bought the dip. Let's shift gears and talk about Eli Lilly. The pharma giant has officially launched its new GLP1 weight loss pill called Foundao. Eli Lilly is the maker of the GLP1 drugs Manjaro and Zepbound. They've become a massive hit over the last couple of years, pushing Eli Lilly's market cap to over a trillion dollars at one point. But the downside for those drugs is that they are injections. Like you have to give yourself a SH shot once a week and a lot of people don't like needles. Found AO is a once a daily pill and that should open up the market to a lot more patients. Not to mention pills are a lot cheaper to manufacture compared to needles and injections. Now Eli Lilly isn't the first to market with a GLP1 pill. Novo Nordisk, which is the company behind Ozempic and Wegovy, launched a pill version of Wegovy back in January. So now the competition is going to heat up between the two companies. Both pills are going to start at $149 a month. Novo Nordisk has just fumbled the bag when it comes to the GLP1, and they kind of kicked off the category with Ozempic. But despite being first there and being first when it comes to their pills, the company stock has been struggling. Novo Nordis stock is down around 30% this year. Now, Eli Lilly has also struggled a bit. Their stock is down around 12% this year. So I'm definitely keeping my eye on the space and I'm curious to see if the introduction of these GLP1 pills will meaningfully increase the market size for these drugs. Let's talk about some stocks making moves today. Shares of Star Surgical are soaring after The EyeSight tech company reported preliminary results for Q1 showing about 110% growth year over year. See, Star makes these implantable contact lenses called Evo icl. These are permanent lenses that get surgically placed inside your eye and for most patients you walk out with 2020 vision. Now, fun fact here. I actually got ICL surgery about a year and a half ago because I was so nearsighted that I couldn't even qualify for lasik. The surgeon implanted this EVO contact lens in my eye and I have 2020 vision. Now. It was an expensive surgery, but it was quick and I got to say it was totally worth it because it's been a life changing for me. Star Surgical got FDA approval back in 2022 and they're seeing a big boost in the US market and China has become a big market for them as well. As a result, shares of the company are up more than 19% this morning at the time of this recording. Now, on the flip side, the AI data center company Applied Digital is seeing their fall. Despite what looked like a great quarter on paper, the revenues grew 139% year over year to $127 million. The problem though, is the company lost more money than expected and they also reported no new business deals. See, over the past couple quarters, Applied Digital has been landing big data center leases with hyperscalers and companies like Corey. So investors were expecting more of that this quarter, but nothing was announced and that's making investors a bit nervous. Now, to be fair, Applied Digital is sitting on about $16 billion in backlog from existing contracts. And they're also building out several massive data center projects that should come online by 2027. The CEO tried to calm investors by saying the demand for AI data centers is accelerating, but for now, investors are disappointed and shares of Applied Digital are down around 5% this morning on this news. Let's wrap the show with the fun fact. The Masters golf tournament kicks off today. It's the biggest event in golf, one of the biggest events in sports, and it's the biggest event when it comes to private jets. Over 4,000 private jets are expected to fly into the Augusta, Georgia area airports during Masters week. Now, just to give you some context here, about a thousand private jets fly in for the Super Bowl. So the Masters is at a whole nother level. You know, I'm not a big golf guy. I've never really played golf. But I'll have the Masters on in the background over the next four days. And I'm not going to lie, I'd love to go to the Masters one day. Everything I heard about it sounds fantastic, including the affordable food. You can get a pimento cheese sandwich for like a dollar fifty and coffee is only like two dollars. Yeah, I just kind of want to go there for the food. Maybe we can do a deep dive on the Masters tournament on site one day because you know, the business of the tournament is pretty interesting. By the way, golf related stocks are hot right now. Companies like Acoustnet and Callaway are up more than 20% this year. And if you zoom out, acoustic stock is up more than six 60% over the last 12 months and Callaway's has gone up over 150%. Well, all right guys, that's the rundown for today. 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 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.