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Civil Rights Groups Call for Target Boycott Over DEI Cuts
Ryan Serkes
January 31, 2025
The
Daily Trade
Good morning.
Today’s newsletter dives into some intriguing developments across stocks, real estate, and crypto that are shaping the financial landscape. In the stock market, Apple’s iPhone sales have taken a slight hit during the holiday season, raising questions about the effectiveness of their new AI features amidst stiff competition in China. Meanwhile, civil rights groups are rallying for a nationwide boycott of Target over cuts to its diversity initiatives, igniting discussions about corporate responsibility and consumer power.
On the real estate front, Sage Sotheby's is making waves with its expansion into Kansas City, while Goldman Sachs and Dalfen Industrial are shaking up logistics with a major acquisition. In the crypto world, we’re seeing a cautionary tale of fraud as a man poses as a bitcoin billionaire, alongside a significant partnership between Apollo Global Management and Securitize to launch a tokenized credit fund. Let’s unpack these stories and see what they mean for you!
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Here's what's happening today:
Today in the Stock Market- Apple's iPhone sales dip despite AI rollout 📉
- Target faces boycott over diversity program cuts 🚫
- Trump announces tariffs on Canada and Mexico 🇨🇦🇲🇽
- Sage Sotheby's expands into Kansas City 🌆
- Goldman Sachs acquires logistics portfolio worth millions 📦
- Pending home sales drop significantly in December 📉
- Apollo launches tokenized credit fund with Securitize. 🏦
- Fake bitcoin billionaire defrauds Jackson businesses. 💸
- Sen. Cornyn's account hacked to promote crypto. 🔒
Question
What are your thoughts on Target's decision to cut its diversity initiatives? Do you think a boycott will make a difference in how companies approach diversity and inclusion?
Reply to this email with your answer
Today in the Stock Market
 Apple's iPhone Sales Decline Amid AI Hype Apple recently reported a slight decline in iPhone sales during the holiday season, with revenue dropping by approximately 1% compared to the previous year. This dip comes as the company attempts to integrate artificial intelligence features into its devices, a move that has not yet translated into increased sales. The rollout of AI capabilities began just before Halloween, which may have limited their impact on holiday purchasing decisions. Additionally, Apple's market share in China is shrinking, with competitors like Huawei and Xiaomi gaining ground. Despite these challenges, Apple managed to report a modest overall revenue increase, surpassing analyst expectations with earnings of $36.3 billion. However, concerns remain about whether the introduction of AI will significantly boost demand for its products, as the stock has seen a decline following initial enthusiasm for the technology. Investors are now questioning the potential long-term benefits of AI integration in light of these recent sales figures and broader market trends in the tech sector. Apple's iPhone revenue reached $69.1 billion, but the company faced an 11% revenue decrease in China, a crucial market for its growth strategy. The company’s performance in this region has been affected by the rise of local smartphone manufacturers, which have been able to offer competitive products at lower prices. This decline in market share is particularly concerning as Apple has historically relied on its premium brand positioning to attract consumers. The company’s efforts to re-establish its foothold in the Chinese market will be critical in the coming months, especially as it continues to expand its AI offerings globally. The recent results have led to a reassessment of Apple's growth trajectory, with analysts suggesting that the anticipated boost from AI may take longer to materialize than previously thought. The market's reaction has been mixed, with Apple shares experiencing a slight downturn in January following the announcement. As investors closely monitor the company's strategy, the focus will likely shift to how effectively Apple can leverage AI to enhance user experience and drive sales in a competitive landscape. |
 Civil Rights Groups Rally for Target Boycott Over DEI Cuts Civil rights activists have initiated a call for a national boycott of Target Corp. in response to the retailer's recent decision to scale back its diversity, equity, and inclusion (DEI) initiatives. This decision has drawn criticism from various groups, especially given Target's previous commitment to enhancing diversity following the social unrest triggered by the murder of George Floyd in 2020. Activists, including prominent civil rights lawyer Nekima Levy Armstrong, expressed their disbelief at Target's retreat from its earlier commitments, characterizing the move as a capitulation to conservative pressures. The boycott is set to commence on the first day of Black History Month, with organizers urging consumers to reconsider their shopping habits in light of the company's actions. During a press conference outside Target's headquarters, activists emphasized the importance of holding the company accountable for its decision to withdraw support for DEI programs. They argued that Target's previous efforts in this area were not merely performative but essential for fostering a more inclusive environment. The coalition behind the boycott includes local Black Lives Matter groups and other community organizations, who have also encouraged consumers to redirect their spending to companies like Costco, which have reaffirmed their commitment to diversity initiatives. The atmosphere at the rally was charged, with participants expressing their disappointment and frustration through speeches and symbolic acts, such as cutting up Target charge cards. Target has yet to publicly respond to the boycott call, but internal communications have framed the decision to retire its diversity goals as a strategic shift in its human resources approach. The company has acknowledged the need to adapt to changing societal expectations but has not addressed the specific concerns raised by activists. As the boycott gains momentum, it remains to be seen how Target will navigate the backlash and whether it will reconsider its stance on DEI initiatives in light of public sentiment and consumer behavior. |
 Trump to Impose Tariffs on Canadian and Mexican Goods President Donald Trump has announced that he will implement 25% tariffs on goods imported from Canada and Mexico, with the decision set to take effect soon. While discussing the tariffs, Trump indicated that he is still contemplating whether to include oil imports from these countries in the tax framework. His rationale for the tariffs is primarily tied to addressing issues related to illegal immigration and the smuggling of chemicals associated with fentanyl production. Trump emphasized that the tariffs are part of a broader strategy to ensure fair trade practices between the United States and its neighbors. Despite the potential economic repercussions, Trump expressed confidence that the U.S. economy can withstand these measures, asserting that the country does not rely on imports from Canada and Mexico for essential resources. He pointed out that the U.S. has sufficient domestic oil production to meet its needs, dismissing concerns about rising prices resulting from the tariffs. The announcement comes amid ongoing discussions about trade relations with both countries, which have been complicated by various geopolitical factors and domestic policy debates. The tariffs are likely to have significant implications for the agricultural and manufacturing sectors, which heavily depend on cross-border trade. Critics of the tariffs warn that they could lead to retaliatory measures from Canada and Mexico, potentially escalating trade tensions in North America. As the administration moves forward with this policy, stakeholders in various industries are closely monitoring the situation, preparing for potential shifts in market dynamics and supply chain operations. |
Today in Real Estate
 Sage Sotheby's Expands Its Reach into Kansas City Market Sage Sotheby's International Realty, Oklahoma's only Sotheby's affiliate, has recently acquired Element Sotheby's International Realty in Kansas City. This acquisition signifies a strategic expansion aimed at enhancing real estate services and expertise in new markets. CEO Rob Allen expressed gratitude for the success in Oklahoma since 2017 and emphasized the importance of building strong client relationships. The acquisition is expected to bolster Sage's operational capabilities, providing agents with enhanced resources and tools. The partnership with Element Sotheby's is seen as a perfect alignment of values and vision, promising to elevate the real estate experience in Kansas City. Andy Bash, founder of Element Sotheby's, highlighted the exciting opportunity this partnership presents, aiming to create a positive impact in the community and set new benchmarks in the local real estate market. |
Goldman Sachs and Dalfen Industrial Make Major Logistics Acquisition Goldman Sachs Alternatives and Dalfen Industrial have announced their acquisition of a significant 21-building logistics portfolio, totaling 2.1 million square feet. This off-market deal includes properties strategically located across Dallas, Las Vegas, Cincinnati, and Pennsylvania, with a leasing rate of 92% among 68 tenants, including major companies like Amazon and Red Bull. Dalfen Industrial's CEO, Sean Dalfen, emphasized the value-driven nature of this acquisition, which aims to enhance asset value through strategic improvements. The partnership has now expanded to a total of 94 buildings and 19 million square feet across major U.S. markets. This acquisition aligns with their strategy to invest in logistics assets that benefit from e-commerce growth and favorable market dynamics. |
December Sees Notable Decline in Pending Home Sales The National Association of Realtors® has reported a 5.5% decrease in pending home sales for December, marking a significant downturn after four months of gains. All U.S. regions experienced declines, with the West seeing the largest drop. Year-over-year comparisons also revealed a 5% reduction in contract signings across all regions. The Pending Home Sales Index, a forward-looking indicator, fell to 74.2, signaling a potential slowdown in the housing market. Chief Economist Lawrence Yun commented on the impact of high mortgage rates on buyer activity, particularly in high-priced areas. The report highlights the ongoing challenges faced by homebuyers amid fluctuating economic conditions and interest rates. |
Today in Crypto
 California Man Poses as Bitcoin Billionaire, Scams Jackson Businesses A California man, Kevin Michael Segal, has been accused of defrauding businesses in Jackson, Wyoming, out of nearly $212,000 by falsely claiming to be a bitcoin billionaire. Segal allegedly racked up unpaid bills at various upscale establishments, including resorts and car dealerships, using fraudulent checks and credit cards. His actions have led to multiple felony charges, including theft and fraud, with the potential for a lengthy prison sentence if convicted. The investigation into Segal began after a car dealership reported that he failed to complete a wire transfer for a Dodge Ram truck. Further inquiries revealed that he had also accrued significant unpaid bills at luxury hotels and restaurants, leaving behind a trail of financial deception. Segal's attempts to manipulate businesses into believing in his fabricated wealth were systematic, as he used various aliases and false assurances to evade payment. Ultimately, law enforcement tracked Segal down to his home in California, where he was arrested. The case underscores the risks associated with fraudulent activities in the cryptocurrency space, particularly as scammers exploit the allure of digital wealth to deceive unsuspecting businesses. |
 Sen. John Cornyn's Social Media Account Compromised in Crypto Hack U.S. Senator John Cornyn's social media account was recently hacked, resulting in a post that appeared to promote a cryptocurrency scheme. The unauthorized message, which featured a photo of Cornyn with former President Donald Trump, claimed, 'WE'RE READY TO MAKE $USA GREAT AGAIN.' Following the incident, Cornyn's office confirmed that the account had been compromised and issued an apology for the confusion caused by the post. The hack raised concerns about the security of political figures' social media accounts, especially as they can be targeted for misinformation or fraudulent promotions. Cornyn's office acted quickly to delete the post and clarify the situation, emphasizing the importance of cybersecurity in maintaining the integrity of public communication channels. This incident highlights the growing intersection between politics and cryptocurrency, as the digital asset space continues to gain prominence. As more individuals and organizations engage with cryptocurrencies, the potential for scams and fraudulent activities increases, necessitating heightened vigilance from both users and regulators. |
Apollo Global Management Partners with Securitize for Tokenized Credit Fund Apollo Global Management has entered into a partnership with Securitize to launch a tokenized investment opportunity known as the Apollo Diversified Credit Securitize Fund (ACRED). This innovative fund allows investors to access Apollo's diversified credit strategy through various blockchain networks, including Aptos, Avalanche, Ethereum, Ink, Polygon, and Solana. The launch signifies a significant step towards making private markets more accessible and efficient for both institutional and individual investors. ACRED represents the first on-chain product that enables investors to participate in the Apollo Diversified Credit Fund, which focuses on corporate direct lending, asset-backed lending, and structured credit. The process is streamlined through Securitize, facilitating native redemptions at a daily net asset value. The partnership aims to enhance liquidity and accessibility across different blockchain ecosystems by leveraging Wormhole as an interoperability partner. According to Apollo executives, the tokenization of this fund is expected to attract a new wave of demand for tokenized assets, particularly in fixed income and private credit. They believe that this innovative approach will unlock broader opportunities for investors while paving the way for future developments in the private markets sector. |
Today's Technical Analysis
RSI Buy | MFI Buy | WillR Buy | AO Buy |
CCI Buy | BBANDS Buy | ULTOSC Buy | STOCH Buy |
RSI Sell | MFI Sell | WillR Sell | AO Sell |
CCI Sell | BBANDS Sell | ULTOSC Sell | STOCH Sell |
RSI Buy | MFI Buy | WillR Buy | AO Buy |
CCI Buy | BBANDS Buy | ULTOSC Buy | STOCH Hold |
RSI Sell | MFI Sell | WillR Sell | AO Sell |
CCI Sell | BBANDS Sell | ULTOSC Hold | STOCH Sell |
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Technical Indicator Information
Relative Strength Index (RSI) | Period: 14 days | Overvalued threshold: 70 | Undervalued threshold: 30
Money Flow Index (MFI) | Period: 14 days | Overvalued threshold: 80 | Undervalued threshold: 20
Williams Percent Range (WillR) | Period: 14 days | Overvalued threshold: -20 | Undervalued threshold: -80
Aroon Oscillator (AO) | Period: 14 days | Overvalued threshold: 75 | Undervalued threshold: -75
Moving Average Convergence/Divergence (MACD) | Period: 26/12/9 days | Overvalued threshold: MACD crosses below MACD Signal | Undervalued threshold: MACD crosses above MACD Signal
Stochastic Oscillator (STOCH) | Period: 14/3/3 days | Overvalued threshold: %K crosses below %D above 80 | Undervalued threshold: %K crosses above %D below 20
Commodity Channel Index (CCI) | Period: 20 days | Overvalued threshold: 100 | Undervalued threshold: -100
Bollinger Bands (BBANDS) | Period: 20 days | Overvalued threshold: price >= upper band | Undervalued threshold: price <= lower band
Parabolic Stop and Reverse (SAR) | Period: variable 50 - 100 days | Overvalued threshold: SAR crosses above price | Undervalued threshold: SAR crosses below price
Triple Exponential Average (TRIX) | Period: 15 days | Overvalued threshold: TRIX crosses below 0 | Undervalued threshold: TRIX crosses above 0
Ultimate Oscillator (ULTOSC) | Period: 28/14/7 days | Overvalued threshold: 70 | Undervalued threshold: 30
Directional Movement Index (DMI) | Period: 14 days | Overvalued threshold: PlusDI crosses below MinusDI | Undervalued threshold: PlusDI crosses above MinusDI
Average Directional Index (ADX) | Period: variable 14 days | Requirement: >= 25
Analysis is only performed on securities with market caps in excess of $100 million and with daily trade volume in excess of $50 million.
Disclaimers
The information in our newsletter is not intended to constitute investment advice and is not designed to meet your personal financial situation. It is provided for information purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor or a group of investors. It should not be assumed that any investments in securities, companies, sectors or markets identified and described will be profitable. We strongly advise you to discuss your investment options with your financial advisor prior to making any investments, including whether any investment is suitable for your specific needs.
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