Happy Wednesday afternoon to everyone on The Street. Here's a snapshot of where markets ended the trading session, plus tomorrow's trade idea delivered to you today.

• 🟥 | US Stocks Fell on Wednesday. March inflation data came in hotter than expected, meaning a likely delay in interest rate cuts from the Federal Reserve. Each of the three major indexes fell roughly 1%.

• 📈 | One Notable Gainer: Mediterranean food chain Cava saw its shares jump 6% after Argus upgraded the stock to Buy from Hold. Argus analysts believe Cava is poised to take advantage of growth opportunities in its Mediterranean niche.

• 📉 | One Notable Decliner: Shares of Zillow sunk 6% despite getting an upgrade from Jeffries that boosted its target price from $70 to $75 per share. Zillow has fallen over 20% in the last month since the National Association of Realtors settlement.

• 📬| Tomorrow's Trade: Incoming Stock Ideas. Scroll down for more.

Plus, this company made the award winning platform for investing in blue-chip art.

YESTERDAY’S POLL RESULTS

Which company do you think will outperform over the next 12 months?

🟨🟨🟨🟨⬜️⬜️ Freeport-McMoRan (FCX)

🟩🟩🟩🟩🟩🟩 Southern Copper (SCCO)

MARKET MOVERS

Nvidia, GoodRx, & Delta Airlines

DECK (-6%) Truist downgraded athletic shoe company Deckers Outdoor, citing falling demand for the company’s core products (Barron’s)

NVDA (2%) Nvidia shares rose today in an attempt to break out of correction territory, while its peers in the Magnificent Seven showed losses (IBD)

GDRX (+4%) Telemedicine stock GoodRx received an upgrade from KeyBank, which points to a substantial increase in GoodRx app downloads and usage (BI)

BABA (+2%) Alibaba co-founder Jack Ma stepped out of the shadows to deliver a lengthy post in support of the company’s restructuring efforts (Reuters)

DAL (-2%) Delta Airlines' shares fell after the company posted a narrow first-quarter profit. Also, a slight majority of Delta’s fleet are Boeing models (AP)

TOGETHER WITH MASTERWORKS

2478 everyday investors shared $1,123,615 net profit on a Monet

Now you might be thinking: “What the heck are you talking about?” But keep reading, because this investment platform's users are already smiling all the way to the bank. Thanks to Masterworks, the award winning platform for investing in blue-chip art. 

Every single one of Masterworks’ 16 sales has returned a profit to investors, for a 100% positive net return track record. With 3 recent sales, Masterworks investors realized net annualized returns of 17.6%, 21.5%, and 35%. 

How does it work? Simple, Masterworks does all of the heavy lifting like finding the painting, buying it, storing it, and eventually selling it. It files each offering with the SEC so that nearly anyone can invest in highly coveted artworks for just a fraction of the price of the entire piece. 

Shares of every offering are limited, but The Street Sheet readers can skip the waitlist to join with this exclusive link.

Skip the waitlist

Past performance is not indicative of future returns, investing involves risk. See disclosures masterworks.com/cd

OVERHEARD ON THE STREET

CNBC: The March Fed meeting minutes were released, showing that officials don’t think inflation is moving lower fast enough.

CNBC: Confirmation- The consumer price index, a key inflation gauge, rose 3.5% in March, higher than expectations and marking an acceleration in inflation.

QZ: Apple made $14 billion worth of iPhones in India last fiscal year as the tech giant looks to weaken its reliance on China.

BI: Another Boeing whistleblower has come forward, this time alleging safety lapses on the 777 and 787 widebodies.

CNBC: General Motors’ Cruise self-driving vehicles unit will redeploy cars on US roadways for the first time since a robotaxi accident involving a pedestrian.

TOMORROW’S TRADE IDEA, TODAY

Incoming Stock Ideas

The market has had a shaky start to Q2. According to Graeme Pearson, RBC Capital Markets’ co-head of global research, stock gains may be a little harder to find throughout the rest of 2024 compared to the first few months. 

The firm has come out with an updated list of stock picks it labels “high-conviction” and “long-term.”

PayPal

First up is the fintech company PayPal (PYPL). RBC analysts expect the company to establish itself as a leader in the e-commerce payment processing space as it monetizes products like Venmo. To continue an upward trajectory, analysts hope to see PayPal improve margins in unbranded transactions by focusing on small merchants and international businesses. 

The stock is up around 8% in 2024, and RBC has given it an outperform rating with a $74 price target. That number represents a 12% upside from Monday’s closing price.

GFL Environmental

A waste management company made the list as well. 

GFL Environmental (GFL) has been continuously focused on expansion, adding more than 260 companies through mergers and acquisitions over its lifetime. Even so, the company accounts for only 5% of the market share. According to analyst Sabahat Khan, that gives it plenty of room to run, and a major acquisition could create significant shareholder value. 

The stock is up around 4% year-to-date and the firm has given it a price target of $46. That represents nearly a 30% upside from Monday’s close.

Mastercard

RBC is also bullish on Mastercard (MA). Analysts view the stock as the perfect candidate for long-term investing.

Analysts believe investors holding Mastercard will gain exposure to three global trends: consumption, digitization of payments, and innovation. All three trends are driving new business for the payment company. 

The stock is up around 12% this year and RBC has given it a $499 price target, about a 4% upside from Monday’s close. 

The market has cooled off since the start of the year, but RBC is confident that these stocks will continue to provide value for investors throughout the rest of 2024.

TOGETHER WITH MASTERWORKS

2478 everyday investors shared $1,123,615 net profit on a Monet

Now you might be thinking: “What the heck are you talking about?” But keep reading, because this investment platform's users are already smiling all the way to the bank. Thanks to Masterworks, the award winning platform for investing in blue-chip art. 

Every single one of Masterworks’ 16 sales has returned a profit to investors, for a 100% positive net return track record. With 3 recent sales, Masterworks investors realized net annualized returns of 17.6%, 21.5%, and 35%. 

How does it work? Simple, Masterworks does all of the heavy lifting like finding the painting, buying it, storing it, and eventually selling it. It files each offering with the SEC so that nearly anyone can invest in highly coveted artworks for just a fraction of the price of the entire piece. 

Shares of every offering are limited, but The Street Sheet readers can skip the waitlist to join with this exclusive link.

Skip the waitlist

Past performance is not indicative of future returns, investing involves risk. See disclosures masterworks.com/cd

ON OUR RADAR

CBS: The FCC is now requiring internet service providers to give customers notices that resemble nutrition labels and break down various service costs.

Axios: The United States Postal Service proposed a 5-cent increase to the price of postage stamps. If approved, it would be the highest stamp hike ever.

Bloomberg: US sees major missile strikes on Israel by Iran and its proxies as imminent. This would mark a major widening of the conflict in the Middle East.

The Guardian: Adam Schiff introduced a new bill to Congress that would force AI companies to reveal the use of copyrighted art.

USA Today: Consumer Reports is calling for Lunchables to be removed from school cafeterias after finding a high amount of sodium and lead in the product.