Just as we’re about to hit peak BBQ season, we’ve been alerted to some bad news: America is facing a beef deficit. After decades of grilling, grinding, searing, and stewing, the US beef industry took a slight fork in the road and we now import more beef than we export. The steaks are high (priced), but the higher costs haven’t dampened our national enthusiasm for red meat. In fact, a steakhouse chain just topped Olive Garden as the biggest casual-dining chain in the US.  

Markets were shaping up yesterday for a reversal of last week’s price action, trending deeply negative with a retreat in the megacap tech names that had powered gains the prior week. But from 1:30 p.m. ET onward, a switch flipped and stocks ground higher, with the S&P 500 and Nasdaq 100 finishing virtually flat. The Russell 2000 outperformed with a 0.4% gain.

Consumer staples and tech were the lone S&P 500 sector ETFs to finish in the red; energy, real estate, and utilities were the top performers.

Pizza, as a quintessential delivery food that incorporates all kinds of ingredients sourced from a wide array of suppliers, is an interesting bellwether of the health of the food business and where the pain points are. 

Domino’s, which finally joined the stuffed-crust club recently, reported earnings yesterday and crushed earnings-per-share estimates like they were red pepper flakes, though it missed mildly on same-store sales and overall sales. Shares dipped, but recovered by the end of the day.

What’s interesting is that when you have a company the size and scale of Domino’s, you can ask a pizzeria owner some pretty broad macroeconomic questions and actually get some compelling answers.

On its earnings call, CFO Sandeep Reddy held court:

If the cost of lots of other things goes up and household budgets remain unchanged, all else equal, that’s less money you’re spending on getting pizza deliveries. Unless, of course, Domino’s pizzas are a high priority in your household budget, in which case, no judgement.

Did you know that 365M+ people suffer from knee OA pain globally? 

To date, Big Pharma has failed to develop a disease-modifying therapy for osteoarthritis (DMOAD), leaving patients with temporary treatments that can’t target the molecular cause of OA. Cytonics is working to change that. 

Their treatment? CYT-108, an iteration on the naturally-occurring A2M blood protein that’s already used in OA treatments. With clinical trials underway,¹ CYT-108 has the potential to outdo Big Pharma and become the first disease-modifying therapy for osteoarthritis. 

Funded by individual investors, Cytonics is built by and for the people. With $2.4M already raised in this round, they’re driving biotech innovation in pursuit of real people’s interests — not VCs and finance bros.

Help build the future of Pharma. Invest in Cytonics’ current raise.²

It’s not news that sports gambling has become a lucrative, growing business, with Americans betting more than $140 billion on sports last year. While we could debate whether this development is more harmful for investors or the athletes who suffer on social when they don’t hit a parlay, Caesars is going beyond the sportsbook to cash in on NBA Playoffs fever by releasing a new NBA-themed slots game.

The game, called “NBA Triple Double Power Combo,” is helping the company have an Ice Cube-level good day after day. Though this year’s playoffs face pressure to deliver a ratings rebound, Caesars is already enjoying the benefits of its multiyear deal with the NBA, and its stock has seen a 14% rise in the past week. 

It’s another tick in the win column for Caesars Digital, which includes Caesars Sportsbook, Caesars Racebook, and other online casino apps. The division topped more than $1.1 billion in revenue last year and was the only arm that grew in 2024, as you can see in our chart. It’s such a bright spot that the entertainment giant is considering spinning off the division into its own entity. 

Sports betting is big, but it’s just one slice of a massive gambling pie that’s growing fast in the digital space. BetMGM, the online arm of MGM Resorts, just reported 34% year-over-year revenue growth. Compare that to the brick-and-mortar MGM, which grew just 7% last year, mostly thanks to its business in China. In the end, casinos are limited by the fact that you have to go there, and as more states allow sports and other online betting, it’s a good bet that the house (the gambling companies) will still win, even if the actual house you’re gambling in is your own. 

While the top three “buy now, pay later” purchases — apparel and accessories, tech devices, and home furnishings — remained unchanged from last year, essentials are quickly climbing the list. 

Late payments are also climbing.

Airline ticket prices (adjusted for inflation) are less than they were 15 years ago.

Advertiser's disclosures:

1 See press release for more details. 

2 This is a paid advertisement for Cytonics Regulation A+ Offering. Please read the offering circular and related risks on the SEC website.

Investing in private company securities is not suitable for all investors because it is highly speculative and involves a high degree of risk. It should only be considered a long-term investment. You must be prepared to withstand a total loss of your investment. Private company securities are also highly illiquid, and there is no guarantee that a market will develop for such securities.

Was this email forwarded to you? Don’t miss out on future stories — subscribe to Snacks and get your daily dose of financial news straight to your inbox. 

Craving more insights in your inbox? Subscribe to Chartr and The Wrap for quality reads.

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... See more