🔹 Inflation Data Lands Today. Markets Brace Quietly.

$0.50/share for the #1 software company? _{by Mode Mobile}

Good morning,

This is a day that matters for anyone thinking about where prices, rates, and purchasing power are headed. The March CPI report drops this morning, and economists expect it to show the fastest inflation in nearly two years, driven by the energy shock from the Iran conflict. Markets extended their rally yesterday, but the mood is cautious. Oil is back near $98, the ceasefire is already fraying, and the Fed's next move depends heavily on the number we get today. For investors focused on protecting retirement savings, this is a moment to pay attention, not react.

Getting started.

The Pulse

The 10-year Treasury yield sits at 4.29%. WTI crude settled at $97.87 after briefly topping $100 yesterday.

^{Special report from our partner}

Today, another potential infrastructure shift is about to take place according to Elon Musk.

Musk’s Starlink has launched thousands of satellites designed to provide internet coverage worldwide.

If the network reaches its intended scale, billions of devices could remain continuously connected, regardless of geography – which would significantly expand the global mobile economy.

One clear opportunity investors are watching is platforms built around mobile engagement. Platforms like tech disruptor Mode Mobile.

Learn more.

Markets

• Stocks extended gains. The S&P 500 rose 0.62% to 6,824.66, the Nasdaq climbed 0.83%, and the Dow added 276 points to 48,185.80, pushing the blue-chip index into positive territory for 2026.
• Oil rebounded sharply. WTI futures rose more than 3% to $97.87 per barrel after Iran restricted tanker transit through the Strait of Hormuz despite the ceasefire, and Brent settled at $95.92.
• Yields held steady. The 10-year Treasury yield edged down less than 1 basis point to 4.287%, while the 2-year fell to 3.783%. Traders are pricing a near-25% chance of a rate cut by year-end.
• PCE inflation ran hot beneath the surface. The February reading met expectations at 2.8% year-over-year, but the three-month annualized pace topped 4%, with core PCE above 4.5%
• This company grew 32,481% (bonus content from our Partner)

Few straight green days sounds encouraging, but today's CPI print could change the math. If inflation came in as hot as expected, the Fed's one remaining rate cut for 2026 may quietly disappear from the table.

^{From Mode Mobile}

Smartphones have become the dominant driving force of the digital economy, with billions of people spending hours on their phones daily.

Yet, even as the digital world evolves, the economic structure of that user engagement has remained largely unchanged.

Advertising platforms monetize user attention.

Brands benefit.

And users themselves, who are the lynchpin of the model, rarely get any value from the process.

Mode Mobile’s platform was built to change that model.

Through its proprietary EarnOS software system, the company lets users earn real cash and rewards from everyday smartphone activity, building a significant following of both users and investors.

Earnings

• BlackBerry posted Q4 revenue of $156 million, up 10% year-over-year, beating the $144.4 million estimate. Adjusted EPS was $0.06 versus $0.05 expected. QNX set a quarterly revenue record of $78.7 million, and the royalty backlog grew to $950 million. Shares jumped roughly 10%.
• Amazon CEO Andy Jassy released his annual shareholder letter, revealing that the company's custom chip business now generates over $20 billion in annualized revenue at triple-digit growth rates, and hinted Amazon may begin selling those chips to third parties.
• This company grew 32,481% (partner content)

_{Partner content}

Meet $MODE, the disruptor turning phones into potential income generators. Retail investors are buzzing about the company's pre-IPO offering.

📲Mode saw 32,481% revenue growth over a three year period, ranking them the #1 overall software company on Deloitte’s 2023 fastest-growing companies list.

Uber did it to taxis, Airbnb to hotels and now Mode Mobile is doing it to the $500 billion smartphone industry. The difference? Early investors like you can invest in their pre-IPO offering at just $0.50/share and earn up to 20% bonus.

🔒 With their Nasdaq ticker $MODE secured, investors now have a limited time to invest before they potentially go public.

Early investors can earn up to 20% bonus shares.

Gold & Silver Moves

Gold settled near $4,742 per ounce on Wednesday, up 0.45% on the day but well off the intraday high of $4,850 reached earlier in the session after the ceasefire was announced. On Thursday, the metal steadied around $4,700.

The pattern this week tells a familiar story. Gold initially surged more than 3% on the ceasefire news as the dollar dropped to a four-week low and bond yields fell. But as oil prices collapsed and equities rallied, investors took profits and rotated into risk assets. That pullback was orderly. Gold found a floor near $4,700, supported by falling yields and renewed expectations that the Fed might still manage one rate cut later this year.

The broader context is important. Gold remains up roughly 49% from a year ago, even after an 8.6% decline over the past month. The metal has become tightly correlated with geopolitical risk and energy-driven inflation expectations. If today's CPI print comes in hot, gold could benefit from renewed safe-haven demand. If it surprises to the downside, the profit-taking could extend.

Silver surged over 5% to $76.70 on Wednesday, its highest level since March 18, before easing to around $75.27 on Thursday. The metal remains down roughly 18% since the Iran conflict began on February 28, having fallen as much as 37% peak-to-trough before this week's recovery.

Silver's sharper decline reflects its dual nature. Unlike gold, silver carries significant industrial exposure, making it more sensitive to recession fears and energy-cost pressures. As inflation expectations shifted hawkishly in March, silver bore the brunt. But the ceasefire-driven reversal in rate expectations has given the metal room to recover.

The Gold / Silver ratio currently sits near 63:1, meaning it takes about 63 ounces of silver to buy one ounce of gold. This is below the long-term historical average of roughly 80:1 and reflects the extraordinary run silver has had over the past year, gaining approximately 143% versus gold's 49%.

A compressed ratio like this typically signals that investors are expressing confidence in industrial demand and economic growth. Silver tends to outperform gold in environments where both monetary and industrial demand are firing. But the recent widening from the January lows near 55:1 suggests some of that optimism is being repriced. The Iran war introduced a stagflationary element that benefits gold's monetary role more than silver's industrial profile.

For metals investors, the ratio is a useful thermometer. A move back toward 70:1 or higher would suggest the market is shifting toward defensive positioning, favoring gold as a pure monetary hedge. A move below 60:1 would signal renewed confidence in growth and silver's industrial tailwinds. At 63:1, the ratio reflects an uncertain middle ground where both inflation fears and recovery hopes are in play.

The takeaway: Precious metals remain a meaningful hedge against purchasing power erosion, but their relative performance this year is telling investors that inflation protection and growth exposure are pulling in different directions.

The Deal Room

M&A / Investments

• Meta committed an additional $21 billion to CoreWeave for AI cloud infrastructure through 2032, bringing their total arrangement to $35.2 billion. The deal will include some of the first deployments of Nvidia's Vera Rubin platform.
• Ares Management will acquire Whitestone REIT in an all-cash deal at $19 per share, a 12.2% premium, valuing the Sun Belt retail portfolio at $1.7 billion.
• This company grew 32,481% (partner content)

IPO / Listings

• Arxis, backed by Arcline Investment Management, filed for an IPO of up to $1.06 billion, capitalizing on rising defense budgets.

Retirement Lens

Today's CPI report is the kind of data point that matters for anyone in or approaching retirement. If inflation is running near 3.7%, that directly erodes the purchasing power of fixed income, savings, and pension payouts. The Fed's response, or lack of one, will shape whether bonds and cash remain viable portfolio anchors for the rest of the year. Diversification across real assets, quality equities, and inflation-linked instruments continues to look prudent. This is not a time for big moves. It is a time for steady positioning and clear thinking.

Headline Hunt

• Global semiconductor revenue is projected to reach $1.3 trillion in 2026, up 64% year-over-year, per Gartner.
• Redfin reports home contract signings fell 2.4% year-over-year in the four weeks through April 5, the worst decline in three months.
• CoreWeave raised $4.25 billion in new debt alongside the Meta deal, including $3 billion in convertible notes.
• Supreme Court tariff reversal refunds could total $120 billion in the first phase, according to Bank of America.
• Apple's first foldable iPhone may face production delays after engineering test issues, per Nikkei.

Recommended Reading

• One of America’s fastest-growing software companies might surprise you (from Mode Mobile)