“I’m not leaving.” -in Leo’s Wolf of Wall Street voice.

That’s exactly what tech stocks said to all of the bear skeptics waiting for this rally to be over.

Today’s issue covers the SPY hitting a record for the 30th time this year…

Two insane triple digit gains, and the tickers to keep an eye on…

As well why humans are starting to replace AI at this Fortune 500 company…

We don’t have much time, so let’s get going. But first, here’s where today’s heatmap landed.

Wall Street kicked off the week with a bang, as the S&P 500 hit a fresh record. The broad index rose 0.77% to finish at 5,473.23, while the Nasdaq joined the celebration, jumping nearly 1% to end at 17,857.02. Even the Dow, after moping for four days, decided to join the fun, adding 188.94 points (0.49%) to close at 38,778.10.

Greg Bassuk, CEO at AXS Investments, put it simply: “Today’s gains are just another step in a positive trend we’ve seen lately.” It seems Wall Street’s been sipping on a cocktail of good economic data and optimism about potential rate cuts.

Tech stocks were the life of the party. Microsoft and Apple both saw their stocks rise—over 1% and about 2%, respectively. Nvidia hit a new high before cooling off a bit, while Broadcom shares surged 5.4%, building on last week’s impressive 23% gain. It’s like these tech giants found a secret stash of rocket fuel.

Despite the market’s recent joyride, Mona Mahajan from Edward Jones reminds us that even the best bull markets need a breather now and then. These pauses are like the market stopping to catch its breath before the next sprint.

Investors are now eagerly waiting for the May retail sales data and housing market updates due later this week. And let’s not forget the Federal Reserve, which has been dropping hints about a possible rate cut. Philly Fed President Patrick Harker and Minneapolis Fed President Neel Kashkari have both suggested we might see a cut by the end of the year.

In summary, Wall Street’s having a great time, and everyone’s hoping the good times keep rolling.

Stock.News Spikers of the Day

Vapotherm, Inc.: [VAPO] [+160.98%]

Allego N.V.: [ALLG] [+128.57%]

McDonald's Fires Its Drive-Thru AI: Humans Back in the Driver’s Seat

Looks like McDonald's is hitting the brakes on its AI drive-thru experiment and calling humans back to the front lines. After a two-year partnership with IBM, the fast-food giant is pulling the plug on AI voice ordering at its drive-thrus.

The tech was tested at over 100 restaurants, aiming to speed up service. But by the end of next month, those robotic voices will be history. Mason Smoot, McDonald's USA's chief restaurant officer, explained in an email that while the AI had its moments, they’re now looking to explore other voice ordering options.

If you've seen the TikToks, you'll know why. From orders of nine sweet teas to unexpected butter pats, the AI didn’t always nail it. One exasperated customer was heard saying, “Cream packet? No! I just want a large water and a cup of ice cream. Not a ketchup packet! Oh, my God.” It’s clear the AI had some learning to do.

McDonald's isn’t giving up on tech just yet. Smoot mentioned they’ll make an “informed decision on a future voice-ordering solution by the end of the year.” Despite the hiccups, the company remains optimistic about the potential of voice ordering.

While this specific AI venture is ending, McDonald's has long been invested in tech to enhance the customer experience. In 2019, they bought Apprente, an AI firm aimed at speeding up order-taking, and Dynamic Yield, which specializes in personalization tech. They even took a 10% stake in Plexure, the vendor for the McDonald’s app.

Dynamic Yield’s technology, for example, can recommend menu items based on the time of day or weather—like suggesting a hot coffee on a chilly morning. McDonald's new internal team, McD Tech Labs, plans to expand in Silicon Valley, hiring more tech experts to keep innovating.

So, while the AI at the drive-thru is taking a backseat for now, McDonald's isn't done with tech. They’re just gearing up for the next big thing in fast food efficiency.

Stocks.News has positions in Apple, Amazon, and McDonalds.