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• Warren Buffett contemplated his own mortality at Berkshire’s meeting
  Succession was the ...
  Succession was the topic du jour at the Berkshire Hathaway shareholder meeting in Omaha. After his longtime business partner Charlie Munger died last year at 99, CEO Warren Buffett—who turns 94 in August—revealed his heir apparent, Greg Abel, will have the final say on investment decisions in his absence. Buffett ended his Q&A portion with the quip, “I not only hope you come next year. I hope I come next year.” Adding to the ominous vibes, Buffett said AI is a genie that “scares the hell out of me.
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• Xi Jinping makes a rare visit to Europe
  The Chinese president arrived in Europe yesterday for the ...
  The Chinese president arrived in Europe yesterday for the first time in five years, making stops in France, Serbia, and Hungary to strengthen diplomatic and economic ties. He’ll need to be charming, because trade tensions between the EU and China are rising over cheap Chinese exports of green tech products that have undercut European manufacturers.
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• ☕️What Else is Brewing Monday Morning
  Apple will finally release new iPads. Apple will refresh...
  Apple will finally release new iPads. Apple will refresh its calcified iPad lineup for the first time in more than 18 months with an event on Tuesday morning. What to expect? Major upgrades to the iPad Pro and the iPad Air, and updated versions of accessories, according to Bloomberg. Apple’s tablets need a jolt of…something: Sales plummeted 17% last quarter.
  
  The Fall Guy made a disappointing $28.5 million in its debut at the North American box office, marking the worst start to Hollywood’s summer season since 1995.
  
  Scammers are stealing money from people who rely on food stamps and cash assistance, the NYT reports.
  
  Hawaii Gov. Josh Green signed a bill that empowers Hawaiian counties to regulate short-term rentals, including Airbnbs.
  
  Experts weigh in on the turmoil at Tesla.
  
  Mystik Dan (18–1 longshot) won the Kentucky Derby in a dramatic photo finish. It was the race’s closest three-horse finish since 1947.
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• U.S. oil and gas rig count reaches lowest level in over two years
  Energy companies in the United States have reduced the number of operating...
  Energy companies in the United States have reduced the number of operating oil and natural gas rigs for the second consecutive week, reaching the lowest count since January 2022, according to Baker Hughes' latest report, as reported by Reuters.
  
  The total count of oil and gas rigs dropped by eight to 605 in the week ending May 3, marking the most substantial weekly decline since September 2023. Baker Hughes noted a significant decrease compared to the same period last year, with the overall rig count down by 143, a decline of 19%.
  
  Breaking down the numbers, Baker Hughes reported a decrease of seven oil rigs to 499 for the week, representing the most substantial weekly drop since November 2023. Meanwhile, the count for gas rigs dipped by three, to 102, reminiscent of figures seen in December 2021.
  
  
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• Dow jumps 450 points, S&P 500 scores back-to-back weekly gains after jobs report
  U.S. stocks closed sharply higher Friday, as Treasury yields fell after...
  U.S. stocks closed sharply higher Friday, as Treasury yields fell after a softer-than-anticipated April jobs report.
  
  The Dow Jones Industrial Average climbed 450.02 points, or 1.2%, to finish at 38,675.68.
  
  The S&P 500 gained 63.59 points, or 1.3%, to end at 5,127.79.
  
  The Nasdaq Composite jumped 315.37 points, or 2%, to close at 16,156.33.
  
  For the week, the Dow climbed 1.1%, the S&P 500 gained 0.5% and the technology-heavy Nasdaq rose 1.4%. The Nasdaq and S&P 500 each booked back-to-back weekly gains, while the Dow rose for a third straight week to notch its largest weekly rise since the stretch ending March 22.
  
  
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