This is an Important Week

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After a rejuvenating long weekend, we're diving into a bustling 4-day trading week. This edition of Invest with Pete Weekly Summary is here to gear you up for the market action ahead.

🛍️ Consumer Confidence Data (Tuesday): Get insights into how optimistic consumers feel about the economy's future.

🏭 Q1 2024 GDP Data (Thursday): Gauge the economic performance of the first quarter with this vital report.

💵 April PCE Inflation Data (Friday): The Fed's favorite inflation gauge. Weaker data could fuel a market rally, increasing the odds of a June rate cut.

But here's the game-changer: Starting Tuesday, the US Treasury kicks off its buyback program at $2 billion per week! No wonder the market is buzzing with bullish vibes.)

💊 Eli Lilly's Bold Move

While Novo Nordisk's Ozempic has been making headlines, Eli Lilly is stepping into the spotlight. (No, Eli Lilly isn’t my new girlfriend!)

Eli Lilly is investing a staggering $5.3 billion to expand its Indiana site, producing tirzepatide—a crucial ingredient for weight-loss and diabetes medications—amid ongoing shortages. This move is part of a broader US manufacturing revival aimed at strengthening supply chain resilience and reducing reliance on foreign production, especially from China. Eli Lilly's share prices have soared 40% this year—impressive, right?

🚦 Ethereum Gets the Green Light

US regulators have just approved the US Ethereum ETF, following the Bitcoin ETF approval four months ago. Trading will commence after the S-1 approval, expected in a few weeks to a month. With this "legitimate" status, major institutions will likely start adding BTC and ETH to their portfolios. A mere 1-2% allocation could send prices skyrocketing! 🚀

📆 Important Earnings This Week

Tue: FUTU, HEI

Wed: OKTA, CRM, HPQ

Thu: COST, DELL, S, MDB

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Pete
Invest with Pete

The information provided in this newsletter is for informational purposes only and does not constitute financial advice. Readers should seek their own independent financial advice before making any investment decisions. Please note that while Pete is a portfolio manager, the opinions expressed in this newsletter are his own and do not represent the views of any organization. Always perform your own research and due diligence before investing.