Hi All - Happy Saturday and welcome back to Street Tweets from The Street Sheet. 

After the bell yesterday, Klarna filed for an IPO. The BNPL lender plans to go public on the NYSE under the ticker $KLAR.

Cool to see the IPO game picking back up. But it’d be a lot cooler if I could buy the stock now, and pay later…

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Market Review:

Stocks surged on Friday, but failed to fully recoup their steep losses from earlier in the week as investors reacted to a rollercoaster of tariff-related news and escalating trade tensions.

On the day, the Dow gained 626 points, or 1.5%, while the S&P 500 and Nasdaq rose by 2% and 2.5%, respectively. Many Magnificent 7 stocks, including NVIDIA $NVDA ( ▲ 4.3% ) and Tesla $TSLA ( ▲ 9.8% ) , saw solid gains.

However, on the week, the broader market had faced significant declines, with the S&P 500 entering correction territory and the Nasdaq approaching a bear market. The pullback was fueled by ongoing tariff uncertainty, which also dampened consumer confidence, with March's sentiment falling below expectations.

Despite Friday's rally, all three major indexes ended the week with notable losses.

Market Preview:

On Monday, February retail sales and the Empire State manufacturing survey are due, along with business inventories for January and the March home builder confidence index.

Tuesday will bring February housing starts, building permits, and the import price index, along with industrial production and capacity utilization data for February.

On Wednesday, the Federal Reserve will announce its interest-rate decision, followed by remarks by Fed Chair Jerome Powell. Investors are pricing in a near-certain chance the central bank will hold rates steady once again, per the CME FedWatch tool.

Finally, Thursday will feature jobless claims, the Philadelphia Fed manufacturing survey, existing home sales, and February's leading economic indicators. There are no major reports due Friday.

Bifurcation is back, baby.

This is why Walmart $WMT ( ▼ 0.78% ) sounding the alarm on consumer spending last month was such a bad sign. Retail sales data might look strong, but if it’s not divided by income bracket, it doesn’t paint the full picture.

TL;DR:

PE firms are buying up accounting practices, slashing costs, and hiking prices to maximize profits. The catch? The accounting industry thrives on trust and quality. PE’s cutthroat approach could tank audit standards, as regulators are already sounding alarms over audit quality.

PE gives smaller firms capital to grow, but the fragmented market and complex regulations make it a tough play. Consolidation might bring scale, but at the cost of service integrity. PE’s profit-first mindset could burn the industry’s reputation — and, consequently, their investments — fast.

(Credit: Grok. I’m not about to read a 28-tweet thread and don’t expect y’all to either.)

“Expectations” is doing a lot of work in that sentence.

The 640 basis point divide between political poles makes me think these might not be the most data-driven assessments by the consumers surveyed.

But if the independents’ take is the most level-headed (and/or least swayed by their opinions on the guy determining our economic policies) it’s still not a pretty picture.

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Alternative title for this graph: “Supply Outpacing Demand”.

Everyone wanted to move in the wake of the pandemic. We built a bunch of new apartments to accommodate them. Most of those hit the market around 2024. With more than enough options, landlords have had to keep prices competitive. Ergo, steady costs.

Shame we couldn’t figure out the same formula for the housing market. The same most certainly cannot be said about homebuying inflation…

Admittedly, I had no idea, either.

But the modern world is a magical place, and according to a cursory Google search, it has to do with the way towels absorb water!

Apparently, the change in stitch is supposed to help keep the cloth weave flat and not curl on itself.

Ironically, every towel I’ve ever washed has shrunk along those bands, quickly turning them into a misshapen mess. Maybe modern technology ain’t so great after all.

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