It's a Big Day for the Dow

It was 126 years ago today, on May 26, 1896, that Charles Dow first published the Dow Jones Industrial Average in the Customer's Afternoon Letter. “He was a man after my own heart,” tweeted Tony Greer, the founder of TG Macro and Maggie Lake’s guest for today’s Daily Briefing. The Dow is celebrating its anniversary with a 600-point surge, following through on Wednesday’s post-FOMC-minutes-release rally. But Tony has his eyes on the disconnect between commodity prices and inflation expectations. “I think they will converge again soon,” he tweeted. Meanwhile, the Bureau of Economic Analysis updated its estimate of first-quarter GDP contraction from 1.4% to 1.5%. Tony and Maggie talk commodities and inflation, and we also hear from Cathie Wood about the macro environment and the long-term forecast for growth tech. Want to submit questions? Drop them right here on the Exchange: https://rvtv.io/3LNIx8L. And keep an eye out for Cathie’s interview with Raoul – it drops tomorrow....