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Welcome to the Bean Breakdown. Have a great week!
HEADLINES
What You Need To Know
Warren Buffett is retiring as CEO of Berkshire Hathaway by year-end, officially handing the reins to longtime successor Greg Abel. Buffett, 94, said he’ll “hang around” to advise, but Abel will have full control over operations and capital allocation. Abel, a 25-year Berkshire veteran, was named successor in 2021. The announcement came as shares hit an all-time high, valuing Berkshire at nearly $1.2 trillion. Buffett emphasized his confidence in Abel, saying he won’t sell a single share and believes the company’s future is even brighter under new leadership.
U.S. job growth came in stronger than expected in April, with 177,000 new jobs added, beating forecasts despite concerns over President Trump’s new tariff policy. The unemployment rate held steady at 4.2%, and the broader underemployment rate ticked down to 7.8%. Health care led the way in hiring, while the federal government and manufacturing sectors saw modest losses. Economists say it’s too soon to see the full impact of the tariffs, though the solid jobs data pushed expectations for rate cuts to later this summer.
Amazon plans to spend $4 billion through 2026 to expand delivery infrastructure in rural America, tripling its rural delivery network with over 200 new stations. The move aims to cut delivery times in half and create about 170 jobs per site. While other logistics companies pull back due to high costs, Amazon says it's doubling down to better serve rural customers. The announcement comes ahead of its Q1 earnings and amid broader tech industry efforts to invest in U.S. jobs under President Trump’s domestic economic push.
A federal judge ruled Wednesday that Apple willfully violated a 2021 injunction from the Epic Games case and held the company in contempt, accusing a top executive of lying under oath and referring Apple for potential criminal contempt. Judge Yvonne Gonzalez Rogers said Apple misrepresented when it decided to impose a 27% fee on external app payments, calling the move “anticompetitive” and a clear attempt to skirt the court's original order. She ordered Apple to stop collecting those fees immediately and pay Epic’s legal fees, adding, “There are no do-overs once a party willfully disregards a court order.”
UPCOMING
What You Need To Watch
On Monday, S&P Global will release its Services PMI data, giving a snapshot of business activity in the services sector.
On Monday, the ISM Non-Manufacturing PMI report will be released, offering further insight into the health of the U.S. services economy.
On Wednesday, the Federal Reserve will announce its interest rate decision, a key moment for markets and monetary policy.
On Wednesday, Fed Chair Jerome Powell will hold a press conference to discuss the rate decision and the Fed’s economic outlook.
On Thursday, initial jobless claims data will be released, providing a weekly update on the state of the labor market.
TIP
STAYING INVESTED
It is easy to get nervous when the market is volatile, but pulling out completely can do more harm than good. History shows that missing just a few of the best days in the market can drastically lower your long-term returns. Markets tend to recover when you least expect it, often snapping back while news still looks negative. Staying invested keeps you positioned for those rebounds. Instead of trying to predict every twist and turn, focus on holding quality investments and giving them time to work. Consistency during uncertainty is one of the biggest advantages an investor can have.
CHART
S&P 10
Source: @bean_wealth
TERM
BETA
Beta measures how a stock moves relative to the overall market. A beta of 1 means the stock tends to move in line with the market. Above 1? It’s more volatile. Below 1? It’s more stable. For example, if a stock has a beta of 1.5, and the market goes up 10%, the stock might rise around 15%—but it could also fall harder when the market drops. Investors use beta to understand risk. Growth stocks often have high betas, while utilities and defensive sectors tend to have low ones. It’s a quick way to gauge how bumpy the ride might be.
Actions
Steps to Level Up
Source: @bean_wealth
READ: The Truth About US Tariffs
LISTEN: Designing The Future
WATCH: Nissan Is Fighting To Survive
RESEARCH: The Short Case For Nvidia
EXPLORE: Top 3 AI Stocks To Invest In
See you on Wednesday!
Cheers,
Matt Allen
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