📈 Gen Z's Credit Card Debt Surges 26% in 10 Years! Brace for Impact💥

Happy Wednesday, Bullseye Traders! 

Gen Z, listen up! Your credit score is sending an S.O.S., and it's not a love letter. Instead of kicking off your careers with a bang, you're starting with a debt-filled whimper. The culprit? Sky-high housing and food costs are tag-teaming with credit cards to max out your stress levels.

As if credit cards weren't already pesky enough, they've upgraded from optional to obligatory thanks to inflation. It's like they've gone from being the sidekick to stealing the spotlight in your financial drama.

And oh, the horror story doesn't end there. Rising interest rates and delinquencies are teaming up to drag down credit scores faster than a lead balloon. Even the high achievers with scores over 720 are taking a hit, dropping an average of 24 points. Ouch!

But wait, there's more bad news. Only a tiny 3% of youngsters aged 27 or below are brave enough to open new credit card accounts. It's like they've seen the financial apocalypse and decided to take shelter in cash-only havens.

Let's talk about the "money dysmorphia" trap. Millennials and Gen Z are starring in this tragicomedy, where their financial perception is as wonky as a funhouse mirror. They're so busy trying to juggle student loans and dream of owning homes that they're trading long-term financial stability for fleeting joys. It's like they're playing a high-stakes game of Monopoly, except the bank isn't handing out "Get Out of Jail Free" cards.

SHAKERS AND MOVERS

Nvidia, Ferrari, & Palantir

NVDA (-2%) Nvidia stumbled as Stanley Druckenmiller, the billionaire investor, revealed he's trimming his stake, throwing shade at AI's overhyped status (CNBC).

RACE (-6%) Ferrari zoomed past Q1 expectations, but hit a speed bump with its gloomy full-year forecast, leaving investors in the pit stop (Benzinga).

PLTR (-15%) Palantir dazzled with robust revenue figures, yet analysts fear its momentum may be downshifting, casting shadows over its future (WSJ).

PTON (+16%) Peloton pedaled to new heights amid whispers of a potential buyout, with private equity firms eyeing a detour into the fitness giant's ownership (Barron’s).

SPG (+2%) Simon Property Group, the mall maestro, strutted its stuff with a first-quarter revenue surge, elevating optimism as it raises the roof on its 2024 outlook (SA).

STREET SCOOPS: The Buzz Around Town

AP: Disney's streaming business has turned a profit, proving that even in the magical kingdom, the streaming wars are real—and profitable.

The Guardian: Boeing's facing scrutiny again, this time for "missed" plane inspections. Looks like their Dreamliner might be having some real night terrors.

Reuters: Amazon's spending a cool $9 billion to beef up its cloud computing infrastructure in Singapore. Talk about building castles in the digital sky!

WSJ: Instacart and Uber are teaming up, like the Avengers of convenience, to take on the villainous DoorDash.

CNBC: Life Time fitness and Lululemon are hitting the courts together, making sure pickleball and tennis never looked so stylish. Because why just work out when you can werk it out?

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