Today's News You Need2Know

• Google’s digital ad network: An illegal monopoly

• Powell’s ‘Termination cannot come fast enough’

• Mahomes and Kelce to open KC steakhouse

• @BoyWithNoJob has finally found a job

• We found a stock market optimist

Companies mentioned in today’s ‘sletter

$GOOG ( ▼ 1.38% ) , $META ( ▼ 0.17% ) , $AMZN ( ▼ 0.99% ) , $MSFT ( ▼ 1.03% ) , Spritz Society, StocksToTrade.com

Google’s digital ad network: An illegal monopoly

It seems Google $GOOGL ( ▼ 1.42% ) has learned that you can’t just click “clear history” to erase a monopoly.

A U.S. District Court has ruled that Google’s digital advertising network constitutes an illegal monopoly, marking the tech giant’s second antitrust defeat in under a year. Maybe they should Google “how to find a lawyer that wins a case?”

Judge Leonie Brinkema of Virginia concluded that Google has been leveraging its immense market power to suppress competition within online advertising — an industry integral to its $1.8 trillion empire. The ruling stems from a Department of Justice (DOJ) lawsuit targeting Google's digital advertising practices, following a similar monopoly ruling against the company’s search engine earlier this year. Central to this case is Google’s ad tech ecosystem, which connects publishers and advertisers, facilitating automated auctions for ad placements.

Google, however, disputes the ruling and plans to appeal. The company argues that the ad market has evolved to include competitors like Meta $META ( ▼ 0.17% ) , Amazon $AMZN ( ▼ 0.99% ) , and Microsoft $MSFT ( ▼ 1.03% ) , making the DOJ’s case outdated.

Powell’s ‘Termination cannot come fast enough’

President Donald Trump has rekindled his long-standing feud with Federal Reserve Chairman Jerome Powell, accusing him of "playing politics" by not cutting interest rates and asserting his ability to remove Powell from his position quickly. He also criticized Powell's recent speech on the economy as a "complete mess."

The Fed's current stance on interest rates has been a point of contention, with Powell maintaining rates amid concerns that tariffs imposed by the Trump administration would drive up inflation. Trump’s remarks emphasized his belief that the Fed "owes it to the American people" to lower interest rates.

The legal nuances of removing Powell are complex. While the Fed Chair is a presidential appointee confirmed by the Senate, the independence of the Federal Reserve's monetary policy is well-established. Powell himself has stated he has no plans to leave his position before his term ends in May 2026.

Treasury Secretary Scott Bessent has also cautioned against attempting to fire Powell, citing risks to financial market stability. Further, the International Monetary Fund’s Kristalina Georgieva emphasized the need for central banks to remain agile and credible, capabilities hindered by political meddling.

From @cheddar

Post of the day: @TheOnion

Mahomes and Kelce to open KC steakhouse

Kansas City foodies and NFL fans alike have something exciting to look forward to in the summer. No, it’s not the end of the basketball season. Superstars Travis Kelce and Patrick Mahomes are opening a two-story, 10,000-square-foot steakhouse!

The name “1587 Prime” is a clever nod to their jersey numbers: Kelce’s #87 and Mahomes’ #15, blending their football legacy into the identity of their new venture. Boasting innovative “multi-sensory dining aspects” and private dining rooms, the steakhouse will also feature a jaw-dropping meat display for guests to marvel at.

I must say, it’s been a while since I’ve said: “Come and look at my jaw-dropping meat display.” It’s so refreshing to hear the phrase back in circulation.

Speaking to People, Kelce shared his excitement, describing the venture as an “unbelievable opportunity” to give back to Kansas City. The opening aligns perfectly with the NFL preseason, ensuring both locals and fans traveling to Kansas City can experience the blend of food and sports culture. For residents, 1587 Prime is not just a steakhouse but a celebration of Kansas City pride. The list of other things Kansas City has to be proud of is as follows:

• Barbecue.

• Short commute times.

• End of list.

Disagree? Send me an email. I would like to be convinced.

Should you check your 401(k) today?

👎

Nope.

@BoyWithNoJob has finally found a job

Ben Soffer, known online as "Boy With No Job," has come a long way. Today, he’s the founder and CEO of Spritz Society, and he’s making waves in the beverage industry.

Soffer explained the inspiration behind Spritz Society: “Yeah, a wine-based sparkling cocktail for millennial women. Millennial women love Pinot Grigio, Sauvignon Blanc, rosé, but then they pick up a canned cocktail and it’s vodka, it’s tequila, sometimes it’s malt,” he said. “So pairing wine and the RTD, the ready-to-drink category, and making delicious wine-based sparkling cocktails was 100% missing, and our community directly told us that.”

He emphasized the importance of community input, adding, “That’s why it’s called the Spritz Society, because we asked a community of women, what’s missing from this market? Called that R&D group the Spritz Society, and named it after them.”

Building a brand in the alcohol industry isn't easy. Soffer described it as “the most capital-intensive industry you can think of for a startup brand. It is cash burning like no other.” His strategy? “Limiting burn. Like how do you slow burn? How do you not throw all of your eggs in one basket until you're ready?”

With Spritz Society now available nationwide and in various locations like Citi Field, Ben Soffer and his team are clearly on a roll. Let’s hope he changes his insta handle to something else eventually or, you know…he might jinx hjimself.

Quote of the Day: Ben Soffer

We found a stock market optimist

Some people remain optimistic about the stock market — although not the vast majority of Cheddar readers, if you check out the results of yesterday’s poll down below 👇🏻

“Look back at where we are from the start of the month,” said Tim Bowen with StocksToTrade.com, who stopped by our studio a few days ago. “I mean, it's just down a couple percent. I think if you go back six months ago and you laid out this scenario to anybody, they think we'd be down so much more. So I'm actually still very bullish because I think once this starts to fade...we're gonna have a massive rip higher because I just don't think the sell-off was nearly as powerful as anyone would have expected."

I mentioned the interview happened a couple of days ago. That’s significant because now the market is down 6% in a month, and 10% in the last six months. On a net worth of, say $400,000, that’s $40k, and hindsight is worth a teacher’s salary, Tim.

Regarding market volatility, Bowen sees it as an opportunity for traders. "So a lot what we do at StocksToTrade with our trading software and technologies is, a lot of it's based around volatility, particularly small-cap stocks and stuff like that. So it's times like this that we love it, okay? The more volatile, the better."

That’s not what a divorce attorney would say, Tim. He also emphasized the importance of discipline and stop-losses in volatile markets. #NotFinancialAdvice

Poll of the Day: The wine of choice for age 28–43

Results from yesterday’s poll

We asked: Do you expect the stock market to go up or down in the next three months?

🟩🟩🟩🟩🟩🟩 It's gonna go down. (809)

⬜️⬜️⬜️⬜️⬜️⬜️ It's gonna go up. (103)

912 Votes via @beehiiv polls

Don’t miss: new alternative investments show!

Our new Alternative Investments show is streaming wherever you watch Cheddar next Wednesday, April 23, at 8:30 p.m. EST:

In our first episode, dive into the thrilling world where nostalgia meets investment! Forget stocks and bonds — we're talking trading cards. Witness million-dollar deals, legendary collectibles, and the passionate community behind them. From vintage treasures to modern-day chases, discover why trading cards are the hottest alternative asset. #NotFinancialAdvice. Hear from experts, brokers, and even Tom Brady about this explosive market. Beware, it's not just about luck; it's about knowledge, strategy, and a dash of obsession. Get ready to unlock the secrets of the trading card craze, and see if you've got what it takes to play the game. (Hint: You probably haven’t, but those cards are niiiiiiice).