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Good morning investors!

If this is your first time reading, welcome to The Investor’s Edge — a thriving community of more than 14,500 subscribers striving to be better investors with an edge in the market.

Let us introduce our latest addition to the newsletter, “The Mid-Week Wrap-Up” — your ticket to being well informed and staying ahead in the investment game!

This report is designed to help investors of all skill levels break down important stories/topics within the stock market. And best of all, we cut through all of the BS and give you exactly what you need to know in easy to digest, bite sized pieces of content.

This article is designed to truly give you that EDGE in the day ahead!

Grab your afternoon pick me up and let’s dive in.

Market Talk

The market has been off to a sluggish start this week, with the major indexes all tumbling out of the gate after two stronger than expected jobs report. This morning’s weak services PMI report seems to have given the indexes a bit of a boost today.

3 Stories Moving the Market

These are some of the biggest stories so far this week that are having an influence on market action.

Tesla deliveries drop 8.5% from a year ago

Tesla vehicle deliveries declined 8.5% in the first quarter of 2024 compared to the same period last year and dropped 20% from the previous quarter. This marks the first year-over-year decline since the second quarter of 2020, during the global pandemic.

Total deliveries for Q1 2024 were 386,810 vehicles, with a total production of 433,371 vehicles. The decline in deliveries was significantly below analysts' expectations, with estimates ranging from 414,000 to 469,000 deliveries, with a median expectation around 457,000 deliveries.

Tesla did not provide a breakdown of sales by model but reported production of 412,376 Model 3/Y cars and delivery of 369,783, as well as production of 20,995 other models and delivery of 17,027.

In comparison, the electric automaker reported 422,875 deliveries and production of 440,808 vehicles in the same period last year, and 484,507 deliveries and production of 494,989 vehicles in the fourth quarter of 2023.

Disney wins proxy fight with Nelson Peltz’s Trian Partners, as shareholders reelect full board

Disney shareholders reelected the company’s entire board, rejecting activist Nelson Peltz and former Marvel CEO Ike Perlmutter's push for change within the company.

The victory, which was announced during Disney’s annual shareholder meeting today, confirms support for CEO Bob Iger's leadership and Disney's direction.

Peltz and Trian sought to remove two directors, citing various issues including underperformance and misdirected investments. Despite a vigorous proxy fight, Disney successfully garnered support from influential figures and major shareholders like Vanguard and Blackrock.

Peltz, known for his past successful campaigns, controls a significant stake in Disney, but the company's shares have risen substantially since the campaign began, softening the blow of the defeat for him and Perlmutter.

Gold prices hit another record high

Gold prices reached a new record high on Monday, driven by expectations of U.S. interest rate cuts and its status as a safe haven asset. Spot gold increased by 1.1%, reaching $2,278 per ounce.

This surge is attributed to the inverse relationship between gold and interest rates, where lower rates make gold more attractive compared to fixed income assets like bonds.

The rally has also been fueled by central banks worldwide, especially China, purchasing gold aggressively to diversify reserves amidst geopolitical tensions, domestic inflation concerns, and the weakening U.S. dollar.

Stock Madness Championship

64 stocks started this year’s Stock Madness bracket but there could only be only winner.

You guys voted and Microsoft is the winner of this year’s coveted Investor’s Edge Top Stock Title. Microsoft defeated Apple in the championship match with Microsoft taking nearly 70% of the votes.

Here are the winners of this year’s bracket challenge:

• Grand Prize: Jon Bercher with a total score of 131 points

• Runner-Up: Dmitry Dreyer with a total score of 89 points

• Third Place: Olar Teder with a total score of 86 points

Winners should have received an email from us. If you have not receive anything, please email us at [email protected] to claim your prize.

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The Second Half

The second half of the week will be big for the market. Although the labor market has remained strong, the nonfarm payrolls is the jobs report investors watch closely every month, You can bet market action will be heavily influenced by this report.

Earnings Reports

Here is the calendar of earnings releases scheduled for the rest of the week:

None of the stocks we cover here at The Investor’s Edge are scheduled to report over the next few days.

Economic Reports

Here is the calendar of events scheduled for the remainder of the week:

While investors await the all important nonfarm payrolls data on Friday, Thursday’s reports are not to be overlooked. We get initial jobless claims, as well as the latest trade balance data.

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Thank you for reading this edition of the Mid-Week Wrap-Up.

Until next time investors!

Mark & Chris

The Investor’s Edge

Disclosure

This is not investing advice. It is very important that you do your own research and make investments based on your own personal circumstances, preferences, goals and risk tolerance.