Happy morning, Munchers!

Here is your daily dose of the news that matters, from Wall Street to Dalal Street - in 5 minutes and 14 seconds.

Let’s dive in.

What’s hot, what’s not?

Market Commentary 🎙️

• US Stocks bounced after CPI inflation printed less than expected - a sign that the Fed will not have to tighten the economy as much as expected.

• Major indices around the world are also in the green after the CPI report, giving some solace to risk assets.

• Chinese stocks look poised to slide a little as they locked down a major manufacturing hub (Yiwu) over COVID fears.

Story Roundup

1 - Inflation prints soft, sends stocks flying. 💸

Headline inflation in the US came in at 8.5% - giving a surprise to the downside of 0.2%.

Consumers, businesses, and producers alike are going to have a happier time while shopping for things they need.

Stocks also rallied on this news - as the Fed's aggressive hiking seems to be hurting demand enough to bring prices under control. This means that we might see them slow down the rate that they tighten the economy at.

Interesting to note that the Nasdaq has ended 20% higher from it's recent lows.

Maybe we'll all be just fine. 🙏

2 - SoftBank unwinds a $34bn stake in Alibaba. 💔

SoftBank might be starting to ditch it's OG investment in Alibaba.

Ever since they led Alibaba's $20mn Series A round back in 1999, it's been the investment that's paid the most back - and hence enabled SoftBank's shopping sprees of the last 25 years.

They expect to post a gain of over $34bn by selling a 7% stake in Alibaba - showing a souring relationship with China.

Does he know something we don't. 🤔

3 - Robinhood pays the price for robbing the hood. 📉

Robinhood's not feeling very well. They're bearing the brunt of - Slower consumer spending as inflation eats into their wallets- Government stimulus starting to wane- Stock markets tumbling from their 2021 highs

They reported revenue down almost 44% - which seems dismal compared to other brokers. (Interactive gained 10% and Schwab actually reported a record profit.)

Most of this revenue came from younger investors - who have since taken a break from the markets after facing a ton of headwinds.

Tough times. 🕊️

4 - Losses at Deliveroo widen as consumers slow spending. 🔥

London-based food delivery app Deliveroo reported a growth of 12% in annual revenue and completed 10% more orders than this time last year - but profitability is in question.

Average order value fell more than 3%, and overhead costs jumped 30%.

As the pandemic recedes and people go back to moving out, they order online less.

Combine this with reduced discretionary spending, and you can see why delivery aggregators are struggling through the pandemic.

One to watch. 💀

5 - Elon Musk dumps another $7bn in Tesla stock. ⚡

The richest guy in the world took advantage of a recent rally in Tesla stock to sell about $7bn worth.

This comes after he said he had "no stock sales planned" on the 28th of April. 🤔

The reason behind all these sales is so that he has a pile of cash to sit on to prevent an emergency sale of Tesla stock in case Twitter forces him to go through with the deal.

Crazy stuff. 😂

It's almost Friday guys. We'll pull through to the weekend.

Hope you enjoyed this issue of the Market Munch. If you have any feedback, positive or negative, hit my line at [email protected] or +971 50 708 8469.

Cheers, and have a good one.

- A