HAPPY SATURDAY TO THE STREET.

And welcome back to Street Tweets from The Street Sheet!

Would you buy a brand new truck with no power windows, radio, or paint? If you said no, you might be in the minority.

Slate Auto has racked up 100,000 reservations in two weeks for its new minimalist EV pickup, which is deliberately low-tech. Removing features like paint and fancy iPad dashboards translates to a lower price for consumers (the truck starts at under $20,000, brand new).

While most carmakers are going all-in on tech, Slate is doing the opposite. Fewer gadgets, better price.

Would you buy one?

— Brooks & Cas

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MARKET REVIEW

Investors breathed a collective sigh of relief on Wednesday, following the much-awaited April inflation update.

Prices increased just 2.3% last month, marking the lowest level since February 2021. Markets stayed flat on the release, but have rallied over the past few weeks. In fact, the S&P 500 is now back to even for 2025 after dropping 15% to start. What a wild ride this year has been.

This week wasn’t all good news, though.

Mega-retailer Walmart warned that price hikes from tariffs could start later this month. But, honestly, who knows what will have changed by then.

On the whole, however, US stocks moved higher. For the week, the S&P 500 advanced 5.3%, while the Dow rose 3.4%. The Nasdaq Composite surged 7.2%, highlighting a strong stretch for tech giants including Nvidia, Meta Platforms, Apple, and Microsoft.

MARKET PREVIEW

Monday will feature speeches from five different Federal Reserve presidents.

On Tuesday, the Fed speeches will continue, accompanied by an update to US crude oil inventories.

Wednesday will offer an update to the 30-year fixed mortgage rate.

Thursday will be the busiest day of the week with an update to the Chicago Fed National Activity Index, existing home sales, initial jobless claims, and a handful of reports from S&P Global.

And, on Friday, data on new home sales will be released.

Will they, though @AppleHub?

Is it us, or does this release feel…underwhelming?

iPhone releases used to feature life-changing updates, with people lining up overnight to beat the crowds. Lately, however, it feels like iPhone releases have followed a very boring formula: Upgrade the chip, tweak the size, and add/subtract a camera.

Granted, the foldable iPhone (the iPhold, if you will) is exciting. But this concept has existed since 2018, and hasn’t really gained steam.

We feel your struggle, though, iPhone engineers. We’re also out of ideas on how to improve this iconic product.

UAE & USA Trade Update

President Trump Met with the UAE this week. Let’s just say “BIG THINGS COMING!!” to Nvidia $NVDA ( ▼ 2.06% ) and Boeing $BA ( ▼ 0.78% ).

The UAE & USA inked multiple deals, including an AI trade deal involving 500,000 Nvidia $NVDA ( ▼ 2.06% ) chips, an order to purchase 28 Boeing $BA ( ▼ 0.78% ) planes, and a general investment commitment of $1.4 trillion.

When expectations and reality don’t match.

Inflation just hit its lowest point since 2021, but inflation expectation just hit their highest point since 1981.

Confused about how to feel in this economy? Economists are too.

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Today’s housing market: Unaffordable? Yes. A bubble? We’re not so sure.

Some analysts (AKA X users) have been drawing comparisons between today’s housing market and the 2006 bubble that led to a crash. But there are key differences…

The 2008 crash was influenced by lending to subprime buyers, which led to mass defaults. Today’s market was accelerated by pandemic-era record-low interest rates, where many qualified borrowers secured mortgages between 2-4%.

Lower interest rates = lower payments = lower risk of default.

What do you think?

The crypto bros at Coinbase just had themselves a week.

Coinbase $COIN ( ▲ 0.06% ) is getting added to the S&P 500, which marks 2 key wins:

1. Potential price surge: Coinbase’s stock price could rise as S&P 500-tracking funds load up on $COIN ( ▲ 0.06% ). (Keyword “could”. It could also fall. Past performance is never a guarantee of future results.

2. Moral victory: The crypto exchange now stands amongst the ranks of America’s best & brightest companies.

But, Coinbase also had two major setbacks this week:

1. A major cyberattack

2. An SEC investigation

When it rains, it pours.

QUESTION