Happy Tuesday Zingernation! The New York Yankees and the Dallas Cowboys may have some of the most hardcore fans in sports, but Elon Musk’s supporters aren’t far behind. But, here’s why one Tesla investor may sell all his shares.

—Aaron Bry & Nic Chahine

Plus, take your option trading to the next level with today’s partner.

MARKET SNAPSHOT

Last Week: Was a pretty flat day overall, but the indices inched higher as we head into what will be a huge week of economic data.

On Our Radar: Not a lot on the docket this A.M., but tomorrow should bring some fireworks with CPI numbers out before the bell.

TOP STORY

Fed Meeting Preview: Economists Predict Steady Rates In June, Fewer Cuts Ahead

Briefly: The Federal Reserve is poised to keep the federal funds rate at 5.25%-5.5% for the seventh consecutive meeting in June, likely emphasizing that more time is needed to be confident that inflation will hit its target before contemplating any rate cuts.

Basically: The key focus for market participants will be on the Fed’s updated quarterly Summary of Economic Projections, which will provide fresh forecasts on growth, inflation, and the potential rate path.

So: In the March meeting, the “median dot” – which reveals the interest-rate preferred path by the median FOMC member – indicated three rate cuts in 2024, followed by three more in 2025 and two in 2026. Here are the full predictions and how your stocks may be impacted.

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FIVE ZINGERS

GM To $GM: Good morning $GM shareholders. The stock is trading higher after announcing a $6 billion buyback.

It Ain’t Real Till It’s Real: Was Roaring Kitty a billionaire through his $GME options? Here’s how much he would have made if he sold at the top.

Failed The Final: Academy Sports had a big test and failed to meet the high expectations during the sporting good company’s earnings report.

Inside Job: Insiders are selling shares at Dell, Applied Materials and these other stocks. Here are the details.

All You Need Is $500k: The recommended retirement savings amount is $550K, so why are so many Americans are falling short?

ONE FOR THE ROAD

Tim Cook's New AI Push To Bring In New Customers For Apple? Analyst Says It 'Isn't Enough'

Briefly: Apple announced a new AI initiative aimed at boosting iPhone sales. However, analysts are doubtful about its impact on consumer behavior.

What Happened: Analysts expressed doubts about whether consumers would rush to upgrade their devices for enhanced AI features, Reuters reported on Monday.

Quoted: Forrester analyst Dipanjan Chatterjee stated, “Perhaps there may be enough in the new and improved Siri-powered, intelligently Apple devices to stanch some of the device revenue that’s been hemorrhaging lately, but there isn’t enough to create a new band of followers.”

Tejas Dessai of Global X added, “Investors clearly want a more comprehensive and ambitious strategy from Apple when it comes to AI.” Here’s what it means for Apple’s stock moving forward.

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