M360 Roundup - Volume 82

April 14th - 18th, 2025

Cole LaCour

In 2025, international developed large-cap stocks have risen over 6%, outperforming the S&P 500—down about 10%—and rewarding investors with diversified portfolios

The S&P 500 is up 0.52%%, the Nasdaq is down 0.44%%, and the Dow Industrials is down 0.89% WTD

The 10-Yr U.S. Treasury yield has decreased -0.164% to a current yield of 4.333%, whereas the 30-Yr U.S. Treasury yield decreased -0.068% to a current yield of 4.809%

Crude oil prices increased 7.79% to a current $64.45/bbl while bitcoin increased 1.01% to a current $84,544.46/coin

Mass layoffs at the FDA are causing significant delays in drug development, forcing biotech companies to postpone clinical trials and straining the already struggling sector's ability to bring new treatments to market [WSJ]

The chip industry’s heavy reliance on AI-driven demand, despite strong earnings from TSMC, faces growing risks from tariffs, trade uncertainty, and a potential global economic slowdown that could undermine broader tech spending [WSJ]
Trump’s trade policies have shattered the post-Covid era of calm markets, triggering sharp volatility, record trading volumes, and investor uncertainty despite expectations for strong corporate earnings [WSJ]

Netflix and Spotify have shown resilience amid market volatility due to their subscription models, but face risks from a potential recession as consumers may trade down to cheaper tiers, threatening growth and exposing their premium valuations [WSJ]

In a trade war, key housing market indicators like Treasury yields, mortgage rates, and rising FHA delinquencies suggest uncertainty ahead, with higher borrowing costs and economic risks potentially weighing on home values [WSJ]

Apple temporarily avoided steep tariffs thanks to a last-minute exemption, but ongoing trade uncertainty and pressure to shift manufacturing from China have cast a long-term shadow over its stock and profit margins [WSJ]

KKR is exploring a potential $10B sale of private jet operator Atlantic Aviation

OpenAI is in talks to acquire AI coding tool Windsurf for ~$3B in its largest potential acquisition to date

Bain Capital and CC Capital received a four-week extension to consider takeover bids for Australian wealth manager Insignia Financial, previously valued at $2.2B

Vista Energy acquired Malaysian state-owned O&G giant PETRONAS's 50% stake in an oil field in Argentina's Vaca Muerta shale for ~$1.5B

Immersive tech company Infinite Reality agreed to acquire AI startup Touchcast for $500M in cash and stock

Shareholders of Singaporean meat producer Japfa approved a founding family-led $877M take-private bid

KKR will acquire German IT firm Datagroup in a $508M all-cash deal at a 33% premium

PE firm Atlas Holdings agreed to acquire UK banknote printer De La Rue in an all-cash $347M deal at a 16% premium

Trump’s DOGE initiative, led by Elon Musk, is pushing to cut nearly $10 billion in DOE clean energy funding—threatening major projects with Exxon, Occidental, and others—while eliminating thousands of jobs and shifting support away from Democratic-leaning regions [WSJ]

U.S. crude oil inventories rose by 515,000 barrels for the third week in a row, while gasoline and distillate stocks fell amid lower refinery utilization, with distillates now 11% below the five-year average [WSJ]
Trump’s energy policies, including tariffs and potential cuts to the Inflation Reduction Act, are expected to slow—but not stop—the U.S. transition to cleaner energy, as rising demand still drives the need for renewables despite higher costs and legislative uncertainty [WSJ]

Apple fell to fifth place in China’s smartphone market as local rivals like Xiaomi and Huawei surged ahead, boosted by government subsidies favoring lower-cost devices and growing trade tensions with the U.S. [WSJ]

A federal judge ruled that Google illegally monopolized parts of the online advertising market, prompting potential DOJ efforts to force divestitures, as the tech giant faces growing antitrust scrutiny alongside Meta, Amazon, and Apple [WSJ]

Eli Lilly’s experimental weight-loss pill, orforglipron, showed strong results in a key diabetes study—lowering blood sugar and cutting an average of 16 pounds—positioning it as a potential blockbuster in the rapidly growing obesity market [WSJ]

Mass layoffs at the FDA have caused critical delays in drug approvals and clinical trial guidance, forcing biotech companies to postpone studies and straining an already struggling sector reliant on timely regulatory support [WSJ]

U.S. stocks ended a turbulent week with mixed results as trade tensions, falling tech shares like Nvidia, and renewed Trump attacks on Fed Chair Powell rattled markets, pushing the Dow down 1.3% and raising concerns over central bank independence [WSJ]

The Trump administration is slashing over 1,500 jobs at the Consumer Financial Protection Bureau, narrowing its focus and rolling back oversight efforts despite ongoing legal challenges and strong opposition from consumer advocates [WSJ]