Daily Rundown

April 23, 2026

Chart of the Day

Number of the Day

$25 billion - Tesla's expected capital expenditures in 2026, up from an estimate of $20 billion three months ago and 193.2 percent above the level in 2025

Quote of the Day

"Given the ongoing macroeconomic uncertainty, updating the company's full-year guidance would not be productive at this time. Achieving this outcome would require lower fuel prices and/or stronger revenue performance to offset higher fuel expense." - Southwest CEO Bob Jordan

Wednesday's Highlights

Mortgage purchase applications (week of 4/11) jumped by 10.1 percent, as the average 30-year fixed rate fell for a third straight week.

One-year business inflation expectations (April) rose to a ten-month high 2.3 percent from a prior 2.1 percent.

Quick Commentary

Capex plans for the remainder of the year continue to be robust, suggesting some scope for a pickup in the pace of real GDP growth after what it shaping up to be a modest print for the first three months of the year. It is telling, however, that businesses at the same time continue to anticipate relatively little inflation on balance across the next 12 months, an indication that the economy is not expected to overheat even in the face of the massive investments currently in the works.

Today's Highlight

Unemployment Claims

Daily Trivia

What category did the BEA add to its calculation of GDP in 2013, arguing that it should be treated as an investment given that it has defined ownership rights, is used repeatedly in production, and has a useful life longer than one year?

(Wednesday's Question: What 2010 event was originally attributed to a "fat finger", with an equity market trader thought to have entered an order incorrectly? Answer: Flash Crash)