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Breaking: Sun Still Rises Despite Trump Presidency, Chicken Littles Demand Investigation
The Paul Truesdell Podcast
Principal Storyteller and Analyst:
Paul Grant Truesdell, J.D., AIF, CLU, ChFC, RFC
Founder & CEO of The Truesdell Companies
The Truesdell Professional Building
200 NW 52nd Avenue
Ocala, Florida 34482
352-612-1000 - Local
212-433-2525 - New York
Truesdell Wealth, Inc.
https://truesdellwealth.com
The Truesdell Companies
https://truesdell.net
The Truesdell Companies was a proud sponsor of the Eirinn Abu benefit concert for Tunnel to Towers, on February 28th at the Circle Square arena in Ocala, Florida. For more information, visit: https://eirinnabu.com or https://eirinnabu.com/event/5760795/695871447/eirinn-abu-and-tunnel-to-towers-foundation-concert
Events
Single, Widowed, Divorced, or With Dependent Spouse
Casual Conversations
May 16 – 6:30 pm
Reservations Required - Call or Text: 352-612-1000
The Truesdell Military Procurement Portfolio
Casual Conversations
May 23 – 6:30 pm
Reservations Required - Call or Text: 352-612-1000
June & July – A Financial Series in Oak Run – Ocala, Florida
Disclaimer
You are listening to the Paul Truesdell Podcast, sponsored by Truesdell Wealth and the other Truesdell Companies. Note. Due to our extensive holdings and our clients, always assume that we have a position in all companies discussed and that a conflict of interest exists. The information presented is provided for entertainment and informational purposes only. Truesdell Wealth is a Registered Investment Advisor.
Rough Notes
Introduction
Good morning, good afternoon, good evening. Welcome to another addition to the Paul Truesdell podcast. We call it the Paul Truesdell podcast because my name is Paul Truesdell, so that makes the most sense.
In today's episode, we're going to be covering the business headlines from yesterday that prove the world keeps spinning despite presidential predictions of doom. We'll dive into Trump's masterful Middle East strategy that's got both Israel and Iran scrambling to adjust, and we'll take a look at Gavin Newsom's hilarious attempt to rebrand himself as a centrist while keeping his communist-style economic policies firmly in place.
We're going to weave in some basic data with a little bit of sarcasm—as you know, that's my style—to show you how experience and business acumen consistently outperform academic theories and establishment groupthink.
So what do you say? Let's get this disclaimer out of the way and then we'll kick this thing off.
Business Headlines The World Continues Turning
Let's start with yesterday's business headlines, because apparently the apocalypse got delayed again.
Dick's Sporting Goods Acquires Foot Locker for $2.4 Billion
Dick's Sporting Goods announced a major acquisition yesterday, purchasing athletic footwear retailer Foot Locker for $2.4 billion. The deal combines two of America's largest sporting goods retailers as they face challenges from rising tariffs and direct-to-consumer competition from athletic brands. Dick's Sporting Goods is a publicly traded company on the NYSE, while Foot Locker is also publicly traded, known for its mall-based athletic footwear stores targeting urban and youth markets.
Cerebras Systems Eyes 2025 IPO
AI chipmaker Cerebras Systems announced its "aspiration" to go public in 2025, as the artificial intelligence boom continues to drive investor interest in specialized semiconductor companies. The company is known for creating the world's largest computer chip specifically designed for AI training and inference workloads. Cerebras is currently a private company backed by venture capital, competing with Nvidia in the AI chip space.
UnitedHealth Under Federal Criminal Investigation
UnitedHealth Group faces a federal criminal probe over possible Medicare fraud, according to reports, sending shares down yesterday. The investigation adds to the healthcare giant's challenges following recent cybersecurity breaches and leadership changes. UnitedHealth Group, traded on the NYSE under UNH, is America's largest health insurer and parent company of Optum healthcare services.
Walmart Warns of Tariff-Driven Price Increases
The world's largest retailer warned it cannot absorb all costs from higher tariffs on imported goods, particularly from China, signaling potential price increases for shoppers. Walmart and other retailers are racing to secure Chinese-made merchandise before the busy summer shopping season as trade tensions continue. Walmart, traded on the NYSE as WMT, operates over 10,000 stores worldwide and is a bellwether for consumer spending.
Nvidia Reveals $900 Million CoreWeave Investment
Chip giant Nvidia disclosed it owned $900 million worth of stock in cloud computing startup CoreWeave as of March, highlighting its strategic investments in AI infrastructure companies. The revelation comes as Nvidia continues to dominate the AI chip market and expand its ecosystem of partners. Nvidia trades on NASDAQ under NVDA and is currently one of the world's most valuable companies, specializing in graphics processing units and AI accelerators.
JPMorgan Investors Seek Tariff Impact Clarity
Investors are looking for JPMorgan Chase to provide more clarity on how new tariffs will impact its business operations and succession planning as the banking giant faces an uncertain trade environment. The bank's leadership and strategic direction remain key concerns as the financial sector navigates potential regulatory changes under the new administration. JPMorgan Chase, traded on the NYSE as JPM, is America's largest bank by assets and a global leader in investment banking and consumer finance.
Sarcastic Market Update
Well, well, well—would you look at that? The sun still rose in the east this morning and is stubbornly planning to set in the west tonight, even though Donald Trump is sitting in the Oval Office. The S&P 500 climbed for a fourth session, adding to this week's rally after the U.S. and China agreed to temporarily slash tariff rates. Shocking, I know—who could have predicted that business would continue as usual instead of the apocalyptic collapse predicted by the doom-and-gloom crowd?
Apparently, nobody told Wall Street about the supposed end times because the Dow Jones Industrial Average added 271.69 points, or 0.65%, Wednesday. Even more scandalously, tech giants are putting up a strong showing week to date. Nvidia and Tesla are both up around 15% each, while Meta Platforms has added nearly 9% during the period. Perhaps these investors missed the memo about following the mainstream media lemmings off the cliff.
In another stunning development that will surely disappoint the Chicken Littles, wholesale prices unexpectedly declined in April as prices for services fell the most in at least the past 16 years. The producer price index declined 0.5% when economists expected a 0.3% increase. But hey, don't let actual data stop you from following the Pied Pipers who promised economic Armageddon.
Meta's Scam Crisis: A Warning for Seniors
The Wall Street Journal's investigation into Meta's platforms reveals an alarming trend that particularly impacts our senior community. The report documents what company officials themselves call "an epidemic of scams" flooding Facebook and Instagram, with fraudsters increasingly targeting older adults who may be more vulnerable to sophisticated deception.
Research consistently shows that seniors face higher risks from online fraud due to several factors. Natural cognitive changes that come with aging can affect judgment and decision-making speed. Additionally, seniors often demonstrate more trusting behavior online, having grown up in an era when business was conducted ...
View all episodes
By Paul Grant Truesdell, JD., AIF, CLU, ChFCThe Paul Truesdell Podcast
Principal Storyteller and Analyst:
Paul Grant Truesdell, J.D., AIF, CLU, ChFC, RFC
Founder & CEO of The Truesdell Companies
The Truesdell Professional Building
200 NW 52nd Avenue
Ocala, Florida 34482
352-612-1000 - Local
212-433-2525 - New York
Truesdell Wealth, Inc.
https://truesdellwealth.com
The Truesdell Companies
https://truesdell.net
The Truesdell Companies was a proud sponsor of the Eirinn Abu benefit concert for Tunnel to Towers, on February 28th at the Circle Square arena in Ocala, Florida. For more information, visit: https://eirinnabu.com or https://eirinnabu.com/event/5760795/695871447/eirinn-abu-and-tunnel-to-towers-foundation-concert
Events
Single, Widowed, Divorced, or With Dependent Spouse
Casual Conversations
May 16 – 6:30 pm
Reservations Required - Call or Text: 352-612-1000
The Truesdell Military Procurement Portfolio
Casual Conversations
May 23 – 6:30 pm
Reservations Required - Call or Text: 352-612-1000
June & July – A Financial Series in Oak Run – Ocala, Florida
Disclaimer
You are listening to the Paul Truesdell Podcast, sponsored by Truesdell Wealth and the other Truesdell Companies. Note. Due to our extensive holdings and our clients, always assume that we have a position in all companies discussed and that a conflict of interest exists. The information presented is provided for entertainment and informational purposes only. Truesdell Wealth is a Registered Investment Advisor.
Rough Notes
Introduction
Good morning, good afternoon, good evening. Welcome to another addition to the Paul Truesdell podcast. We call it the Paul Truesdell podcast because my name is Paul Truesdell, so that makes the most sense.
In today's episode, we're going to be covering the business headlines from yesterday that prove the world keeps spinning despite presidential predictions of doom. We'll dive into Trump's masterful Middle East strategy that's got both Israel and Iran scrambling to adjust, and we'll take a look at Gavin Newsom's hilarious attempt to rebrand himself as a centrist while keeping his communist-style economic policies firmly in place.
We're going to weave in some basic data with a little bit of sarcasm—as you know, that's my style—to show you how experience and business acumen consistently outperform academic theories and establishment groupthink.
So what do you say? Let's get this disclaimer out of the way and then we'll kick this thing off.
Business Headlines The World Continues Turning
Let's start with yesterday's business headlines, because apparently the apocalypse got delayed again.
Dick's Sporting Goods Acquires Foot Locker for $2.4 Billion
Dick's Sporting Goods announced a major acquisition yesterday, purchasing athletic footwear retailer Foot Locker for $2.4 billion. The deal combines two of America's largest sporting goods retailers as they face challenges from rising tariffs and direct-to-consumer competition from athletic brands. Dick's Sporting Goods is a publicly traded company on the NYSE, while Foot Locker is also publicly traded, known for its mall-based athletic footwear stores targeting urban and youth markets.
Cerebras Systems Eyes 2025 IPO
AI chipmaker Cerebras Systems announced its "aspiration" to go public in 2025, as the artificial intelligence boom continues to drive investor interest in specialized semiconductor companies. The company is known for creating the world's largest computer chip specifically designed for AI training and inference workloads. Cerebras is currently a private company backed by venture capital, competing with Nvidia in the AI chip space.
UnitedHealth Under Federal Criminal Investigation
UnitedHealth Group faces a federal criminal probe over possible Medicare fraud, according to reports, sending shares down yesterday. The investigation adds to the healthcare giant's challenges following recent cybersecurity breaches and leadership changes. UnitedHealth Group, traded on the NYSE under UNH, is America's largest health insurer and parent company of Optum healthcare services.
Walmart Warns of Tariff-Driven Price Increases
The world's largest retailer warned it cannot absorb all costs from higher tariffs on imported goods, particularly from China, signaling potential price increases for shoppers. Walmart and other retailers are racing to secure Chinese-made merchandise before the busy summer shopping season as trade tensions continue. Walmart, traded on the NYSE as WMT, operates over 10,000 stores worldwide and is a bellwether for consumer spending.
Nvidia Reveals $900 Million CoreWeave Investment
Chip giant Nvidia disclosed it owned $900 million worth of stock in cloud computing startup CoreWeave as of March, highlighting its strategic investments in AI infrastructure companies. The revelation comes as Nvidia continues to dominate the AI chip market and expand its ecosystem of partners. Nvidia trades on NASDAQ under NVDA and is currently one of the world's most valuable companies, specializing in graphics processing units and AI accelerators.
JPMorgan Investors Seek Tariff Impact Clarity
Investors are looking for JPMorgan Chase to provide more clarity on how new tariffs will impact its business operations and succession planning as the banking giant faces an uncertain trade environment. The bank's leadership and strategic direction remain key concerns as the financial sector navigates potential regulatory changes under the new administration. JPMorgan Chase, traded on the NYSE as JPM, is America's largest bank by assets and a global leader in investment banking and consumer finance.
Sarcastic Market Update
Well, well, well—would you look at that? The sun still rose in the east this morning and is stubbornly planning to set in the west tonight, even though Donald Trump is sitting in the Oval Office. The S&P 500 climbed for a fourth session, adding to this week's rally after the U.S. and China agreed to temporarily slash tariff rates. Shocking, I know—who could have predicted that business would continue as usual instead of the apocalyptic collapse predicted by the doom-and-gloom crowd?
Apparently, nobody told Wall Street about the supposed end times because the Dow Jones Industrial Average added 271.69 points, or 0.65%, Wednesday. Even more scandalously, tech giants are putting up a strong showing week to date. Nvidia and Tesla are both up around 15% each, while Meta Platforms has added nearly 9% during the period. Perhaps these investors missed the memo about following the mainstream media lemmings off the cliff.
In another stunning development that will surely disappoint the Chicken Littles, wholesale prices unexpectedly declined in April as prices for services fell the most in at least the past 16 years. The producer price index declined 0.5% when economists expected a 0.3% increase. But hey, don't let actual data stop you from following the Pied Pipers who promised economic Armageddon.
Meta's Scam Crisis: A Warning for Seniors
The Wall Street Journal's investigation into Meta's platforms reveals an alarming trend that particularly impacts our senior community. The report documents what company officials themselves call "an epidemic of scams" flooding Facebook and Instagram, with fraudsters increasingly targeting older adults who may be more vulnerable to sophisticated deception.
Research consistently shows that seniors face higher risks from online fraud due to several factors. Natural cognitive changes that come with aging can affect judgment and decision-making speed. Additionally, seniors often demonstrate more trusting behavior online, having grown up in an era when business was conducted ...