Target reports more problems - but market take it as a massive deflationary happening.

June is expected to be an "up" month - breaking the string in 2022.

Musk, Dimon and others are panicking - should we stay or should we go?

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Warm Up

- A recap of last week's crazy

- MonkyPox - Now Masking?

- Target revises - even worse - deflationary and market is getting this

- Apple - not much in latest update (Cars?)

- Prostitution in the Metaverse

- Floods in SoFla

Market Update

- May ends mixed - but down

- Oil Prices racheting higher - even with more supply

- Peak Inflation - being discussed

- Tesla jobs cuts - then back track - spooked markets (Unstable Genius?)

- Gas closing in on $10 per gallon in Cali

Recap of last Week - Wild Stuff

- Stocks fell on Friday to cap their eight week of losses out of the last nine. For the week, the Dow fell -0.9%, the S&P -1.2%, and the Nasdaq -1.0%.

- Indices failed to build on the prior week's momentum. Equities stalled as buyers failed to step in above key resistance levels. A slew of headlines led to the pause including:

-- On Tuesday, J.P. Morgan (JPM) CEO Jamie Dimon stated that he saw an "economic hurricane" on the horizon and that his bank would remain conservative in the current environment.

--- Tesla (TSLA) CEO Elon Musk echoed those comments on Friday, stating he had a "super bad feeling" about the economy and that his company would need to cut approximately 10% of its staff. (Walked back)

---Salesforce Inc (CRM) posted a solid round of earnings Tuesday after the bell, but the company's outlook was lowered due to FX headwinds.

--- Microsoft (MSFT) followed suit and provided a rare pre-announcement, warning that it would miss Q4 (June) results due to the same currency challenges.

Stamp-Flation

- The USPS approved a rate change that will take effect July 10, 2022. The price changes affect mainly Market Dominant prices, which include First-Class Mail, USPS Marketing Mail, Periodicals, Package Services (Media Mail, Library Mail, and Bound Printed Matter), and Special Services.

Stamp Prices Going Up

MONKEYS

- The CDC raised its alert level for Monkeypox to level 2 on Monday, recommending that travelers wear masks, among other health measures.

- More than 550 cases of monkeypox have now been recorded in 30 countries around the world, according to the World Health Organisation (WHO).

- As of June 3, there have been 21 recorded Monkeypox cases in the U.S. connected to the current outbreak, according to the CDC.

- "What's likely happened is an endemic infectious disease from Africa found its way into a social and sexual network and then was greatly aided by major amplification events, like raves in Belgium, to disseminate around the world,"

Wells Fargo

- Why anyone uses this back???

- Wells Fargo & Co is pausing a hiring policy that requires recruiters to interview a diverse pool of candidates

- the New York Times reported such interviews were often fake and conducted even though the job had already been promised to someone else.

- Finally! Buffett's Berkshire Hathaway disclosed that it sold its remaining shares in the bank this week

Peak Inflation

- Plenty of economists who argue that the shock will soon fade, as supply blockages ease and energy costs stabilize. Some warn that central banks are in danger of making a big mistake by raising interest rates too aggressively even as price pressures show signs of peaking.

- Economists at Morgan Stanley warn that the risk of an inventory glut is growing, especially in sectors such as consumer discretionary and technology goods.

- Target!!!!!!