
May 13, 2026
đ§¨New Fed Sheriff Rides into Town⌠Microsoft Misses the âMag 7â Yacht Party (+$500B Session)

âYou hear that? Thatâs the sound of cheap money ridinâ into town.â -newly elected Sheriff Kevin Warsh
Well folks, today is your lucky day. After an 8-year run filled with endless word salads, emergency money-printing, and a zero-interest-rate COVID environment that accidentally created the greatest casino in stock market history⌠Jerome Powell is officially hanging it up on Friday.
And in his place? Trumpâs minion (read: Kevin Warsh) is inheriting arguably the most influential job on planet Earth. (âI used to pray for times like this.â)
The Senate voted 54-45 to confirm Warsh as the next Federal Reserve chairman, and funny enough, Pennsylvaniaâs human hoodie John Fetterman was the only Democrat who crossed party lines to vote yes. (I knew I always liked that guy for some reason, just couldnât figure out why).
That said, yesterdayâs hotter-than-expected inflation report still managed to smack parts of the market around like a substitute teacher trying to control a middle school classroom.
The Dow slipped 0.2% as household-name companies like Nike and Home Depot got kicked directly into the clearance aisle. But while old-economy stocks were busy crying into their dividend yields, the money simply rotated right back into Big Tech like always.
The S&P 500 climbed 0.7%, while the Nasdaq ripped 1.3% after Donnieâs little bachelor trip to China with all his billionaire tech bros gave investors hope that Jensen Huang (read: Nvidia) may once again be allowed to sell the âgood stuffâ to Xi Jinping.
ANd get this, the Mag 7 stocks added half a TRILLION dollars in market cap today with Google seeing itâs best record since April, Nvidia up 6 sessions in a row and hitting an all time high⌠and even with Tim Apple gone, the iPhone maker was able to cross $300 for the first time ever.
In addition, Tesla, Meta, and Amazon are living it up. The only one who sh*t the bed, was Microsoft which loss $26 billion and had its 4th straight losing session.
So instead of just buying the S&P, maybe itâs time we start just telling folks to split their portfolio 7 ways into the Mag 7 stocks. (This is just a joke). But itâs worth mentioning, with all the bubble talk, do we really think thatâs bursting anytime soon now that Kev is getting handed the keys? My money is on no. But weâve never seen the market go up like this for this long.
If you read all of this, congrats for having a 10 second attention span (better than me). As always, hereâs our heatmap for today.

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Alibabaâs Profit Machine Pulls a â2020 Jack Maâ (-84%)… CEO Crowns Himself Chinaâs Jensen Huang
Jack Ma đ¤ Alibaba profits disappearing without noticeâŚ
Well ladies and gentlecars, the original Temu (read: Alibaba) just delivered one of the funniest earnings contradictions Wall Street has seen all year.
Somehow, the companyâs AI business centered around itâs LLM âQuenâ and AI Agents is growing like a weed⌠while profits are simultaneously pulling a Jack Ma circa 2020.
And this isnât clickbait bad⌠itâs bad, bad⌠For instance, Alibaba reported adjusted EBITA collapsed a horrendous 84% year-over-year during the March quarter. Funny enough, Alibaba shares initially popped 1-2% in premarket trading before investors actually read the earnings report andâŚ
FedEx CEO Risks âCramer Curseâ After Dismissing Amazon Logistics Threats on Mad Money
Inverse Cramerâs gonna have a field day making memes about thisâŚ
Whatâs the first move you make if you run a powerful Fortune 500 company and a new competitor claims your turf? If youâre answer isnât âgo on Mad Money and jinx yourself BIGLY chatting it up with Jim CramerâŚâ then, respect. Unfortunately for all you FedExshareholders, CEO Raj Subramaniam (what a name), did exactly that.
It all started earlier this month when Amazon rolled out a new service called âAmazon Supply Chain Services,â which pretty much letsâŚ
â Market Gossip
>Anthropic is hiring a ‘Claude Evangelist’ â and it pays up to $315,000 (Business Insider):Opens door: âHello, sir. Would you like to go to church and hear more about the âgospel of Claude?ââ
>Kool-Aid to launch electrolyte packets with no artificial dyes as part of Kraft Heinz makeover (CNBC):RFKâs on a generational run.
>Oklo stock dips after company says quarterly loss widened (Yahoo Finance):Scam Altman canât catch a break right now.
>Hegseth insists US has âcontrolâ of Strait of Hormuz while pitching $1.5T War Department spending spree (New York Post): Still laughing at that obvious AI-generated speech he gave in the Oval Office.
Drown Bad: Waymo Recalls 3,800 Robotaxis After Multiple Cars Cruised Into Flash Floods
“Where we’re going, we don’t need roads.” – Doc Brown Waymo
Of all the rules a self-driving fleet could break, Waymo’s billion-dollar AV unit found the one printed on every Texas highway billboard during flash flood season. Three thousand eight hundred robotaxis are now under voluntary recall because the software couldn’t reliably tell the difference between a road and a creek.
The recall, filed Tuesday with the NHTSA, covers vehicles running Waymo’s fifth and sixth-generation automated driving systems. Which⌠checks notes… is basically the whole commercial fleet. The trigger though, is the cameras in Austin, San Antonio, and elsewhere catching Waymos either nosing into flooded streets, stalling mid-storm, or, in one San Antonio case on April 20, getting straight-up swept into a creek with no passengers on board.
That said, this isnât a one-off for Waymo. Googleâs side-piece has been catching safety-flag strays at the same time itâs been aggressively expanding into Los Angeles, Phoenix, Miami, and Austin, with select access in a few more markets. Austin alone has produced the school-bus-yielding controversy and now the flood-canon footage. In December, the SF fleet famously gridlocked an entire neighborhood during a power outage by stopping in place mid-intersection. Different bug, same underlying problem: the cars handle 99% of driving and then catastrophically misread the 1% any teenager could parse.
Of course, Waymo has “identified an areaâŚ
SoftBank’s $46 Billion Vision Fund Gain Was 99% OpenAI, and Masa Son Is Selling Nvidia to Press
Diversification is for poors. Citation: Masayoshi Son.
If your $46 billion annual gain comes from one position, you don’t have a Vision Fund. You have an OpenAI fund with extra steps.
That’s the awkward asterisk on SoftBank’s earnings drop this week. All-In Masa (read: Masayoshi Son), the man who has lost more money on bad ideas than Zuck (sup, Reality Labs), just booked a $46 billion yearly gain at his Vision Fund. And basically all of it is OpenAI. The fund’s $30B-and-counting stake in Sam Altman’s chatbot empire generated $45 billion in paper gains this year alone. The other 300+ portfolio companies? Bleeding.
Weâre talking companies like Coupang, DiDi Global, and Klarna⌠to which the Vision Fund is literally losing money on the parts that aren’t OpenAI. In Q4, $20 billion of the gain came from OpenAI while the rest of the book was getting its cheeks clapped. Translation: Masa accidentally built a single-stock ETF and called it venture capital.
To his credit (and to S&P’s horror), he’s leaning IN. SoftBank has committedâŚ
âWTFâ Meme of the Day
The hangover sequel we didnât know we neededâŚ
Oh, and one more thingâŚ
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