🚀 Musk to remain Tesla CEO for at least five years

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Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Elon Musk has pledged to remain CEO of Tesla for at least the next five years, addressing investor concerns about his commitment amid increasing political involvement as a key advisor to President Donald Trump. Speaking at Bloomberg’s Qatar Economic Forum, Musk emphasized the need for “reasonable control” to guide Tesla’s future, saying it’s not about money but about avoiding activist investor interference. Musk also said he plans to reduce his political spending. He also hinted at a possible future IPO for Starlink, the satellite internet service under SpaceX. Tesla shares rose 1% following the announcement.

2. JPMorgan CEO Jamie Dimon warned that markets are dangerously underestimating the risks posed by record U.S. deficits, rising tariffs, and global tensions, predicting that S&P 500 earnings growth will fall to zero within six months. Speaking at JPMorgan’s annual investor day, Dimon criticized central banks for being “complacent” and said Wall Street’s optimism ignores the threat of stagflation. He argued that current earnings projections and stock valuations are unsustainable and expects price-to-earnings ratios to drop. Dimon also reiterated plans to step down as CEO within five years, with succession speculation intensifying as top deputy Marianne Lake took center stage at the event.

3. During a closed-door meeting on Capitol Hill, President Donald Trump delivered a blunt warning to House Republicans: “Don’t f--- around with Medicaid,” urging them to rally behind a major tax bill. The legislation has stalled due to internal GOP disagreements—some conservatives want to cut Medicaid, while others from high-tax states like New York and California are demanding more generous state and local tax (SALT) deductions. Trump also told SALT holdouts to “let it go,” emphasizing unity to push the bill forward. Speaker Mike Johnson aims to pass the package before the Memorial Day weekend.

4. Headlines

   1. The FDA has announced stricter guidelines for COVID-19 booster approval standards.

   2. Levi Strauss will sell Dockers to Athentic Brands.

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Onwards and Upwards,

Liam Gill