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Matt Davis — Need2Know Chedditor

News You Need2Know

• Oil prices rise and stocks fall ahead of 'deadline …

• Tailors are aging out of the workforce even as dem …

• How Elon Musk's rocket technology could revolution …

• March saw 178,000 new jobs, so why is everyone sti …

• What does Gen Z want from their finances?

What’s the stock market up to, eh?*

$SPX ( ▲ 0.08% ) $DJI ( ▼ 0.18% ) $NDX ( ▲ 0.1% )  

Companies mentioned in today’s newsletter

$UAL ( ▼ 1.85% )  $DLTR ( ▼ 4.2% )  $DG ( ▼ 2.58% )  $COIN ( ▲ 0.22% )  $MSTR ( ▼ 3.11% )  $UNH ( ▲ 9.37% )  $HUM ( ▲ 7.94% )  $JWN ( ▲ 0.08% )  $LNKD ( 0.0% )  $WFC ( ▼ 0.12% )  

Oil prices rise and stocks fall ahead of 'deadline' for Iran

U.S. stocks tumbled Tuesday as investors anxiously awaited President Donald Trump's latest deadline threatening Iranian infrastructure, while oil prices continued their war-driven climb.

Benchmark U.S. crude rose 1.3% to $113.82 per barrel, with Brent crude hitting $110.06— far above its pre-war level of roughly $70 in late February. The average U.S. gasoline price has jumped to $4.14 per gallon, up from below $3 before hostilities began.

The Dow $DJI ( ▼ 0.18% ) swung wildly in early trading, careening between a 74-point gain and a 425-point loss within the first hour.

"Investors are likely to remain on edge and markets unable to establish trends, probably until there is a clear outcome later this evening,” said Paul Christopher, head of global investment strategy at Wells Fargo Investment Institute, talking to the Associated Press. “A deal, the U.S./Israeli strikes intensify, or Iran's retaliation becomes escalatory instead of proportional."

Fuel-dependent companies took the hardest hits. Norwegian Cruise Line Holdings $NCLH ( ▼ 3.3% ) dropped 3.8%, while United Airlines $UAL ( ▼ 1.85% ) sank 2.9%. Discount retailers fell, Dollar Tree $DLTR ( ▼ 4.2% ) by 4.7% and 1.8% for Dollar General $DG ( ▼ 2.58% ) .

Crypto-linked stocks also struggled, with Coinbase Global $COIN ( ▲ 0.22% ) down 1% and Strategy $MSTR ( ▼ 3.11% ) falling 2.7%. However, health insurers provided bright spots following positive Medicare news. UnitedHealth Group $UNH ( ▲ 9.37% ) surged 10.5%, and Humana $HUM ( ▲ 7.94% ) rose 9.2%.

Tailors are aging out of the workforce even as demand for their skills grows

An aging workforce and low wages threaten a craft that AI can't replace. Inside his Manhattan shop, tailor Kil Bae worries about his profession's future even as business booms.

"I recommend this job to young people because this one cannot be AI'd," said Bae, 54, talking to the Associated Press. "Different bodies. Different shape. They cannot copy like this."

The U.S. Bureau of Labor Statistics reports fewer than 17,000 tailors now work in business establishments nationwide — a 30% decline from a decade ago. The median worker age is 54, and mean annual wages sit at just $44,050 compared to $68,000 for all workers.

"Most of fashion training is really aimed at mass production, not spending time in a shop handmaking a garment," explained Scott Carnz, provost of LIM College told the Associated Press.

Nordstrom $JWN ( ▲ 0.08% ) , employing 1,500 alteration specialists, partnered with the Fashion Institute of Technology to launch a nine-week sewing program. "We owe it to the broader industry to ensure that this is an art form that exists for years and years to come," said Marco Esquivel, Nordstrom's director of alterations,

Brooks Brothers is also expanding bespoke women's tailoring to 40 additional stores.

Bae, who previously worked as a pattern maker for Ralph Lauren and Donna Karan, plans to keep sewing, even at 85.

"I'm always learning," he said. "I am like an artist."

Song of the Day: Chris Stussy featuring Kučka, 'Fantasy'

Chris Stussy's collaboration with Kučka on "Fantasy" is a standout piece from his debut album, “Lost, Found & Forgotten,” released earlier this year. It’s quickly become a fan favorite for its blend of atmospheric depth and classic house energy.

How Elon Musk's rocket technology could revolutionize warfare

Here’s a story that’ll definitely make you feel safer in bed tonight. While Elon Musk's “Starship Heavy” rocket aims for Mars, physicist and semiconductor entrepreneur Michael Hochberg argues it may first transform military strategy by enabling a
“revolutionary space-based weapons system.”

Last June's B-2 bomber strike on Iran's nuclear facilities (remember that?) took 37 hours and cost approximately $5 million per plane to, er…deliver. Hochberg, a visiting scholar at Cambridge University's Center for Geopolitics, believes Starship offers a cheaper, faster, er…alternative.

"Starship will make it possible to use low Earth orbit as a parking lot for a giant space-based arsenal," Hochberg writes in the Wall Street Journal, enabling the U.S. to "pre-position conventional munitions...to strike anywhere on Earth within minutes."

He envisions thousands of precision bombs striking infrastructure simultaneously "without putting planes or military personnel at risk."

Although I’d imagine the people being bombed will feel at risk, in the circumstances?

Hochberg invokes naval theorist Alfred Thayer Mahan's concept of a "fleet in being" —warships hidden over the horizon creating psychological deterrence. A space-based arsenal would similarly affect adversaries' calculations, he thinks.

"It is crucial that the U.S. deploy this capability first," Hochberg warns, arguing key Starship technologies should be protected as national secrets.

I agree that it’s important for the U.S. to deploy this capability first, but only because I live in the U.S. In fact I think it might be best if nobody deploys this capability, ever.

March saw 178,000 new jobs, so why is everyone still worried?

Kory Kantenga from LinkedIn $LNKD ( 0.0% ) took on the delightful task of unpacking our economy’s "unexpected strength." Yes, the U.S. labor market just had its strongest jobs report in 15 months! Before you pop the champagne, let’s remember this number is a total "outlier," to quote Kory. Why are we celebrating? Because hospital workers came back from striking, driving strong gains in healthcare jobs.

Meanwhile, if you’re actually looking for a job, welcome to the Thunderdome. You’re competing with “twice as many applicants per job” than what we saw a few years ago. If you manage to land one, don’t expect a raise; wages are slowing down, not picking up.

While Big Tech layoffs related to AI get all the press, they barely register on the federal data (tech workers are less than 3% of the labor force). The real worry is the "cloudy" economic outlook, Kory said. While the U.S. is "fairly insulated" from the Middle East war, global energy spikes hit the cost of everything — even the helium needed for our AI chips. Businesses are thus "delaying hiring plans," choosing to "hold and keep things steady" rather than expand.

Smoke ‘em if you got ‘em! And by “smoke” I mean hug and by “‘em,” I mean job.

Quote of the Day

What does Gen Z want from their finances?

Perhaps no generation is redefining their relationship with money more than Gen Z, who are focused on intentionality and control, according to Wells Fargo’s head of private wealth planning $WFC ( ▼ 0.12% ) Emily Irwin.

Irwin points to three major shifts, noting that the "biggest shifts we're seeing is first being more intentional with your money. Over 90% of individuals said they want to be more intentional with their money, meaning tying personal goals to dollar decisions. Secondly, people want to optimize the dollar. They want their finances to go farther and they want them to last longer. And then third, we're seeing increase in savings year-over-year."

This desire for control is so strong that 84% of Americans would forgo social media for a year rather than their banking apps. Irwin explains, "When we see individuals wanting to give up social media before their banking app, what we're really hearing is we want to take more control over our finances.”

This generation is also embracing entrepreneurship, with 70% viewing business ownership as central to financial success. Irwin calls Gen Z an "inspiration for us" because "they've been flexing entrepreneurial muscle probably earlier and more frequently than some of the other generations" due to coming up through the gig economy.

However, this proactive approach comes from a place of uncertainty, as "almost half find their financial lives to be 'messy.'" For those grappling with this new normal of financial instability, Irwin stresses the value of forward-thinking strategy. She is a "huge proponent of scenario planning," suggesting individuals tie their planning to goals and ask: "What happens if I start shifting? What happens if want to take out a small business loan to start a business? Or what happens if I take a clear path shift in order to gain an experience I need to propel myself?"

For financial education, Gen Z is turning to a blend of fintech tools and AI. While noting that social media can be a good starting point, Irwin advises that new tools like AI "can be incredibly powerful. Go in and ask the questions that may cure even a little bit too embarrassed to ask a financial professional or a friend or a family member," she advises. Ultimately, Gen Z's financial journey is characterized by a savvy, self-directed desire to make every dollar work harder.

I didn’t start saving for retirement with a vengeance until I was 40. I say these kids are all crazy!

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Should you check your 401(k) today?

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I’m gonna say no, this morning.

Poll of the day: Tinker, Tailor…

Poll of the day: Bring the Rolls round, Smithers

We asekd: What's your ideal luxury car?

You answered:

🟨⬜️⬜️⬜️⬜️⬜️ Genesis (46)
🟨🟨🟨⬜️⬜️⬜️ Audi (87)
🟨🟨🟨🟨⬜️⬜️ Lexus (128)
🟨🟨🟨⬜️⬜️⬜️ BMW (100)
🟩🟩🟩🟩🟩🟩 Rolls-Royce (186)
🟨🟨⬜️⬜️⬜️⬜️ Ferrari (73)
⬜️⬜️⬜️⬜️⬜️⬜️ Tesla (18)
638 Votes via @beehiiv polls

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