| Good morning and welcome to May, the month that starts with your eyes swollen shut from ragweed, and ends with a barbecue at a lake. | | | |  | Nasdaq | 13,962.68 | | | | | S&P | 4,181.17 | | | | | Dow | 33,874.85 | | |  | Bitcoin | $56,920.32 | | | | | 10-Year | 1.625% | | | | | Russell 2000 | 2,266.45 | | | | *Stock data as of market close, cryptocurrency data as of 6:00pm ET. Here's what these numbers mean. | - Markets: Despite a dip yesterday, the market went full stonks in April. The S&P increased more than 5%, the Dow 2.7%, and the Nasdaq 5.4%.
- US economy: Household income surged 21.1% in March, the largest monthly increase on record, thanks in large part to the $1,400 stimulus checks sent to most Americans.
- Global economy: The eurozone (all the countries that use the euro as a currency) slid into a technical recession last quarter, with GDP declining 0.6%. A recession = two consecutive quarters of negative economic growth. The US grew 1.6% comparatively.
| |  Francis Scialabba | The smallest and least powerful item in Apple's device lineup, the humble AirTag, went on sale yesterday. But techies are hyped that this runt of the litter made its debut. Why? For one, if second-gen iPod Shuffles taught us anything, it's that sometimes Apple's smallest, simplest products change our lives the most. The $29 AirTags attach to items via a $35 key ring (or off-brand option) to let iOS users quickly locate lost keys, wallets, and dogs (knock on wood x3). Sound familiar? That's because Tile devices have been doing the same thing for about eight years. In fact, Tile's CEO CJ Prober threw another antitrust allegation on Apple's pile after AirTags were officially announced last week, requesting that Congress "take a closer look." But if motivational posters are to be believed, it's not what you do but how you do it. And Apple finds your dog differently than Tile does... Introducing "ultra-wideband" Good for pandemic sweatpants; even better for locating lost items. While Tile finds devices using Bluetooth signals, each AirTag is equipped with an ultra-wideband chip that allows owners to track them down with much more precision than Bluetooth can. Using an iPhone 11 or a later model, users will be able to see visual cues that let them know that, for instance, their phone isn't just on the bed, but has nestled into the Neverland of their duvet. Where things get even cooler: That kind of advanced location-finding could be the first ripple in a wave of new augmented reality. Bouncing all those signals between iOS devices and AirTags could create "a hidden digital layer" of the world, Stanford researcher Gordon Wetzstein told Wired. And that layer could make AR experiences, like playing Pokémon GO or having the Snapchat hot dog dance on your desk, more realistic. - Ultra-wideband may not stay unique to Apple, since Tile is reportedly working on its own device using the technology.
Zoom out: Apple hasn't commented on the augmented reality possibilities of AirTags. However, AirTags were created using Apple's AR-building software platform, ARKit, and the tech company's shown interest in the space before: Just open your Measure app for an early example. + While we're here: AirTags represent another instance of Apple building an ecosystem of products and services that work together in ways that could be construed as unfair. Yesterday, the EU issued antitrust charges against Apple over its App Store practices. | |  Francis Scialabba | In the US...more than half of US adults have received at least one dose, but the slowdown is real: The US is averaging 2.6 million vaccinations per day compared to the peak of 3.4 million on April 13. Around the world...174 countries, including the US, have administered more than 1.1 billion shots in total. The latest headlines A "breaking point" in India: As the country grapples with a healthcare crisis, the country's largest city, Mumbai, closed 94 vaccination centers for three days because there aren't enough doses to go around. India is reporting nearly 400,000 Covid-19 cases daily. Vaccine $$$: AstraZeneca said its Covid-19 vaccine brought in $275 million in revenue in the first quarter, most of which came from Europe because it's not yet authorized in the US. That represents about 4% of its total revenue; the company's blockbuster cancer drug Tagrisso did over $1.1 billion in sales last quarter. | |  Michael Regan/Getty Images | On a typical weekend, social media platforms light up with highlights, commentary, and reactions to a full slate of English soccer games. This weekend will be much quieter. The most powerful stakeholders in English soccer will black out their social media accounts to raise awareness over racism and harassment online. - They include England's top men's and women's soccer leagues, governing agencies like FIFA and UEFA, and broadcasters Sky Sports and BT Sport.
- Other leagues, including English cricket, Premiership Rugby, and lawn tennis, are also taking part.
Online abuse is rampant in European soccer, where Black players and female analysts are often the subjects of a flood of racist and sexist messages. The anti-racism group Kick It Out reported a 42% rise in reports of discrimination within professional soccer last season. In February, executives of England's top leagues sent a letter to Twitter CEO Jack Dorsey and Facebook CEO Mark Zuckerberg, asking them to take measures to stop the "relentless flow of racist and discriminatory messages" that breed on their platforms. Zoom out: The social media blackout movement was sparked by former Arsenal star Thierry Henry, who deleted his social media accounts in March to take a stand against abuse. | |  | Asking nicely: that's how we got this gig. But if you're looking for a career that will challenge and excite you, it's time to check out what Capital One has to offer. As a company dedicated to creating an equitable future for all, they are advancing a culture of belonging and opportunity. Which are fancy advertising words for: Capital One will treat you like a person with dreams, goals, and a desire to do incredible things—and they'll help you achieve them. And whether you're interested in tech, finance, business development, marketing, or a host of other fields, Capital One can support you in work that is truly revolutionizing the world of banking. So look, Capital One isn't just interested in jobs. They're here to help you create a career that you can be proud of and excited to do each and every day. Check out all of Capital One's job openings here. | |  Giphy | Stat: About 2.7 million Americans are considering retirement earlier than they planned, which Bloomberg attributes to mostly white boomers having saved up during the pandemic and looking to "get out while the getting's good." Quote: "What we need is a 4-winged chicken." A representative of the North Carolina Poultry Federation bemoaned the current shortage of chicken wings to WSOC-TV. Read: What is "Cheugy"? (New York Times) | |  Patrick O'Neill | In every good horse movie—Seabiscuit, Hidalgo, Racing Stripes—there's a brooding protagonist who, throughout everything, believes the horse can win. In this story, there are five protagonists. And they're less brooding. Reiley Higgins, Patrick O'Neill, Alex Quoyeser, Eric Armagost, and Dan Giovacchini are friends who met on the Brown football team and wanted to find something they could all do together after graduating in 2014. Five years later, they decided to form Boat Racing LLC—an ode to the classic (?) drinking game—to invest in racehorses. After their first two horses, they found Hot Rod Charlie, the horse that currently has the fourth-best odds to win the Kentucky Derby today. Read Hot Rod Charlie's and the boys' full story here. | | - The US is restricting travel from India starting Tuesday because of the country's spiraling Covid-19 outbreak.
- TikTok's got a new CEO: Shouzi Chew, who was the CFO of its parent company, ByteDance.
- Berkshire Hathaway's annual meeting is today in LA, featuring a reunion between Warren Buffett and his longtime business partner Charlie Munger.
- Exxon Mobil and Chevron reported their first profits in several quarters.
- Tiffany is selling engagement rings for men for the first time.
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