Core Viewpoint - The stock market experienced significant volatility during President Trump's first 100 days, with the S&P 500 dropping approximately 8%, marking the worst performance for a new president since 1974. However, certain stocks, particularly in the AI and healthcare sectors, have shown remarkable resilience and growth during this period. Group 1: Palantir Technologies - Palantir's stock surged by 47% as of April 28, defying market trends despite high valuations and challenges in the AI sector [3][4]. - The company reported better-than-expected fourth-quarter earnings and projected revenues of up to $3.76 billion for the year, surpassing analyst estimates of $3.52 billion [4]. - Palantir's involvement with NATO, which announced a swift contract for its systems, highlights its effectiveness in providing AI solutions for data analysis and decision-making [6]. Group 2: CVS Health Corp - CVS Health Corp's stock increased by 45%, contrasting sharply with its 40% decline in 2024, attributed to previous underestimations of costs in its Aetna insurance business [7][8]. - The company exceeded Wall Street's earnings and revenue expectations in the fourth quarter and provided guidance of $5.75 to $6.00 adjusted earnings per share, aligning with analyst forecasts [9]. - New CEO David Joyner is optimistic about improving Aetna's margins and reducing Medicare Advantage membership, which is expected to lower expenses [10]. Group 3: Newmont Corp - Newmont Corp's stock rose by 45%, benefiting from a significant increase in gold prices amid concerns over the U.S. fiscal situation, including a $1.83 trillion deficit and over $36 trillion in debt [13][14]. - The company is recognized as the world's leading gold mining firm, with substantial reserves and operations across multiple countries [13]. - Gold is viewed as a hedge against inflation and uncertainty, making it a valuable asset for portfolio diversification, especially given the concentration of the S&P 500 [15].

Group 1: Millennium Management Overview - Millennium Management, founded by Israel Englander, is one of the largest hedge funds globally, operating as a "pod shop" that allocates capital to small teams with independent investment strategies [1] - Investors should conduct their own due diligence as Englander does not make all investment decisions alone, but they should monitor the firm's larger positions for insights into market trends [2] Group 2: Investment Activities in Q4 - In the fourth quarter, Millennium reduced its position in Nvidia by 10% and its options by 12%, while Nvidia remains its fifth-largest equity holding, generating a 10.5% gain in that quarter [3][4] - Millennium increased its holdings in BlackRock's iShares Bitcoin Trust ETF by 27%, indicating a strategic move towards cryptocurrency investments [9] Group 3: Market Context and Influences - The fourth quarter was marked by significant events, including Donald Trump's presidential election win and a sell-off due to inflation concerns and Federal Reserve interest rate plans [5] - Trump's administration has shown mixed signals for Nvidia, with potential tariffs threatening partnerships and new export rules proposed to limit China's access to advanced AI technology [6][7] Group 4: Cryptocurrency Insights - Trump's pro-crypto stance and actions, such as appointing crypto advocates and signing executive orders, have influenced the market positively for Bitcoin [10] - MicroStrategy's co-founder Michael Saylor has been a major proponent of Bitcoin, predicting significant long-term price increases based on historical returns [12][13]