Fun-money companies like DoorDash take a beating as investors bet consumers will tighten up

Wall Street appears to have its doubts that people will keep up their “let’s order a taxi for a burrito” habits much longer.

Consumer discretionary was the worst sector in the S&P 500 on Thursday, and companies that largely rely on “fun money” experienced some notable sell-offs. DoorDash posted its worst day since last May, closing down more than 7%. Delivery app rivals like Uber, Lyft, and Instacart were also down about 2% each.

Airbnb fell more than 5% on the day, and travel peers Expedia and Booking also took a dive. Carnival and fellow cruise companies also closed squarely in the red.

With layoffs surging to levels not seen in five years (largely led by DOGE cuts), investors are shying away from anything that relies on folks tossing around extra cash.

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Max Knoblauch5/29/26

The Trump administration is reportedly planning a 50% made-in-America requirement for USMCA tariff relief

Qualifying for USMCA-related lower tariffs may soon require more US-made vehicle components, according to reporting by The Wall Street Journal.

The Trump administration is reportedly planning to introduce a 50% US content requirement for vehicles covered by the trade pact to receive lower tariffs. The content would be measured by cost, according to the WSJ.

There currently isn’t any US-specific requirement for those lower tariff rates, but in order to receive preferential tariffs, vehicles are must contain at least 75% regional content (components made in North America). Per Reuters reporting, the Trump admin is seeking to raise the regional requirement to 82%.

These reported plans are subject to change as the US negotiates USMCA terms with Mexico over the next few months.

Overall, Tesla will likely have the easiest time qualifying for any stricter requirements. The automaker’s vehicles contained the highest amount of US/Canadian content in 2025, according to American University research. Ford, GM, and Stellantis all scored lower.

Notably: the underlying government data that many domestic content measurements rely on intentionally combines US and Canadian components, so it’s difficult to know exactly how much of any given vehicle is specifically US-made.

Exclusive | Trump Administration Wants Autos Under USMCA to Be at Least 50% Made in America

These reported plans are subject to change as the US negotiates USMCA terms with Mexico over the next few months.

Tom Jones5/29/26

The $640,000 Luce makes the average Ferrari look like a bargain

Put aside the shape; put aside the smoothing out of Ferrari’s iconic sharp edges; put aside, even, the calls from former Chairman and President Luca Cordero di Montezemolo to “take the Prancing Horse off.” On the grounds of price alone, Luce detractors might have a point.

By now, many of us will have read the criticisms of Ferrari’s first fully electric vehicle, as the Luce — which was unveiled to the world earlier this week and promptly saw the company’s shares crash out in New York and Milan — gets subtly shaded by competitors online and not-so-subtly shaded by basically everyone else.

What makes all of this worse for Ferrari is that, even by the luxury car maker’s notoriously high standards, they’ve slapped a pretty hefty price tag on the Luce, and the company’s CEO, Benedetto Vigna, has already been forced to defend the €550,000 ($640,000) price point, saying yesterday that it’s “fair to pay for innovation,” per Reuters.

While Ferrari’s cars have been getting more expensive of late, as recently as 2022, Ferrari’s average revenue per car sold was around $340,000. At nearly twice that price, this new electric model is obviously proving a little much (visually, conceptually, and financially) for many loyal and long-standing fans of the Prancing Horse to stomach.

Ferrari’s EV push is testing what makes a Ferrari a Ferrari

Claire Yubin Oh

back in my day...

5/27/26

Temu’s US web traffic quietly recovered from last year’s tariff blow

Temu’s parent company’s stock is still under pressure though, both this year and this morning.

Hyunsoo Rim

big red button

5/22/26

Kraft Heinz is bringing back the glass ketchup bottle as it leans on sauces for growth

The Pittsburgh-born sauce giant is turning 157 this year.

Oversize Heinz ketchup bottle displayed at Heinz History Center in Pittsburgh

Millie Giles

BED, BREAKFAST, AND BEYOND

5/22/26

Airbnb is expanding its hotel offerings and adding car rentals to its app

As cities crack down on listings, the homestay platform is attempting to become an “everything app” for travel.

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