$AXP American Express's CFO spoke at a sell-side conf. and while he reiterated a relatively optimistic view on the year (and confirmed the prior full-year guidance), he warned that Street estimates for Q1 are too high largely because of the 2024 Leap Year (which will weigh on the Y/Y growth rate) and FX headwinds

Listen to "Vital Dawn Podcast for Monday February 10 " by Vital Dawn .

A Trump voter quoted in the WSJ: "I don’t like the turbulence. I don’t like the chaos in the market. That will make the economy worse, and that’s not what we signed up for"

Will a Time Magazine Cover Drive a Wedge Between Trump and Musk?

Pat Riley owns the rights to the phrase "three-peat" and stands to get paid a lot of money if the Chiefs win this weekend

Europe prepared to cut the tariff imposed on US autos to avoid a trade war with Trump

Michigan says it was Trump's tariff threats that caused inflation expectations to spike (as opposed to a change in view of underlying price developments). This takes some of the sting out of the 100bp+ jump in 1-year inflation expectations

If a company reported earnings like the gov't compiles labor statistics, the stock would crash and get de-listed.

$TSLA Tesla shares underperformed this week for a few reasons, including the Waymo expansion plans talked about on the Google earnings call, anticipation for an autonomous driving announcement out of China’s BYD in the coming week, and concerns Elon’s political activities could be hurting demand for Tesla vehicles in the US and Europe.

US Aircarft Carrier Leaves Red Sea as Houthis Pause Attacks

A "DeepSeek Moment" is happening in pharma/biotech as Chinese firms produce efficacious drugs faster and cheaper than their US counterparts

Listen to "Vital Dawn Podcast for Friday February 7" by Vital Dawn .

Amazon still loves Nvidia, but they are starting to see other people: "most AI compute has been driven by NVIDIA chips, and we obviously have a deep partnership with NVIDIA and will for as long as we can see into the future. However, customers want better price performance, and it's why we built our own custom AI silicon. Tranium 2 just launched at our AWS Reinvent Conference in December, and EC2 instances with these chips are typically 30% to 40% more price performance than other current GPU powered instances available"

A new paper from the Boston Fed looks to quantify the impact on inflation from Trump's tariffs. "A 25 percent tariff on Canada and Mexico combined with a 10 percent tariff on China could add 0.5 to 0.8 percentage point to core PCE inflation"

The Job Market Is Weaker Than It Looks

$TSLA Tesla’s sales plummet across Europe

Listen to "Vital Dawn Podcast for Thursday February 6" by Vital Dawn .

Researchers created an open rival to OpenAI’s o1 ‘reasoning’ model for under $50

"There was little beyond an idea inside the president’s head"

Qualcomm's CEO thinks DeepSeek is important and will lead to an acceleration in AI inference occurring locally on devices (PCs, smartphones) as opposed to in data centers "DeepSeek-R1 and other similar models recently demonstrated that AI models are developing faster, becoming smaller, more capable and efficient, and now able to run directly on device. As we enter the era of AI inference, we expect that while training will continue in the cloud, inference will run increasingly on-device, making AI more accessible, customizable, and efficient"