Happy Friday, Munchers! 🙏

Home stretch of the week it is. Hope you folks had a lovely one. Good luck for all the weekend partying.

As always, here is your daily dose of the news that matters, from Wall Street to Dalal Street - in 4 minutes and 53 seconds.

Yesterday, America's economy showed off it's flexibility, Kyiv got rocked by Russian explosions, and Morgan Stanley hit it's bankers with fines. 🔥

Let’s dive in.

What’s hot, what’s not?

Market Commentary

• Risk-on stocks had a field day, as Tesla reported better-than-expected results and sent the shares flying.

• The "smart money" thinks that things will get better. Euro assets did well too after some robust economic data.

• Indian stocks looked choppy and volatile as Adani fears continued to rock markets.

Story Roundup

1 - America stays resilient. 💪🏼

Maybe that "recession" isn't gonna be as bad as we think. Maybe.American GDP data just printed, and we are still going strong.The US economy expanded by 2.9% during Q4 of last year.Those numbers were better than the 2.6% expected by Wall Street's economists, so all-in-all healthy news for everyone.Investors are now making bets that the Fed might not raise rates at the next meeting...Might be best to walk before we can run. 💀

2 - Russia rains down on Ukraine. 💣

Papa Putin isn't happy with the West ganging up on him.Explosions were seen across the Kyiv skyline and the fallout looks BAD.Power outages ran rampant and a few buildings were knocked down too.While correlation doesn't equal causation, this renewed wave of shelling comes right after America provided some super-modern weapons tech.Ukraine has some walking death machines (read: tanks) that were all built, manufactured, and programmed by the West.Proxy war... 🤔

3 - Hindenburg hits back at Adani. 👊🏼

Gautam Adani has spent the last few years building a lovely house of cards.And Hindenburg's allegations are the gust of wind that could send it crashing down.So it's easy to see why Asia's richest man is furious.Adani has threatened a lawsuit and are ready to take it all to court - but Hindenburg stands by what they said.They're gonna defend their accusations and are gonna ask for internal Adani documents in court too.Rickety. 😬

4 - Morgan Stanley fines it's bankers millions for using WhatsApp. 💸

Bankers aren't supposed to be WhatsApping about work - and the fines are hefty.Morgan Stanley has hit their bankers with penalties for conducting official business on non-business platforms.These penalties are the latest fallout from US regulations, where MS was forced to pay $200 million in fines.Information that gets onto WhatsApp can spread QUICK - which makes it easier for people to pass on inside information.Oh man. 🤦🏼

5 - Turkey tries propping their currency up. 🧱

The most powerful tool to overthrow a government is an empty dinner table.In Year 7 economics, you learn that high inflation is fought with higher interest rates.With inflation at 83%, Turkey doesn't think that way.They keep cutting interest rates. 💀In fact, their President has said time-and-time again that he believes "interest rates to be the mother of all evil".The Turkish Lira has tumbled almost 30% since the start of the year as a killer combination of soaring inflation and policy missteps led to a sell-off.Ripsaw.

Hope you enjoyed this issue of the Market Munch. If you've got any feedback - good or bad (😏) you can hit reply to this email. Thanks a ton for reading!

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Cheers, and have a lovely day. 🙏

Aryaansh