Hello, my most beloved subscribers!

It’s “poll Friday” here at Cheddquarters, which means we’ll run four polls down below, instead of the usual singular “poll of the day.” Check back Monday morning to find out how well your opinion jibes with that of your fellow Cheddheads, you total nonconformist.

We also have plenty of news you Need2Know here…

Today's news you Need2Know

Have a great weekend!

—Matt Davis, Need2Know Chedditor

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Companies mentioned in today’s newsletter

$WMT ( ▼ 0.5% )   $SPX ( ▲ 0.41% )   $UNH ( ▼ 10.93% )   $TSLA ( ▼ 1.4% )   $WBD ( ▼ 0.76% )   $NFLX ( ▲ 2.35% )   $AIRBNB ( 0.0% )  

Higher prices are inevitable, says Walmart

The nation’s largest retailer $WMT ( ▼ 0.5% ) has warned that price rises are “inevitable” amid the trade war. CFO John David Rainey said the company has “been able to manage inflationary costs pretty well,” but even the retail juggernaut can’t dodge tariffs forever. As Rainey pointed out during an earnings call, tariffs of up to 30% have already been slapped onto essential items, like fruits and everyday products, and sadly, you — dear consumer — are going to have to "pay more for certain items."

Walmart did try to soften the blow a bit, noting that even amid rising costs, customers are still willing to spend when they "feel good about their personal finances." And when is that, exactly? Let us know in today’s first poll of the day below!

What’s next in the U.S.-China trade war?

Chris Beecham from brokerage IG thinks a resolution to the ongoing trade conflict may be in sight.

The recent truce "might turn into something more permanent,” he said. “But at the moment, ‘truce’ is the word for it." This "truce" has led to a "huge rebound off the April lows," with the S&P 500 $SPX ( ▲ 0.41% ) moving back into positive territory for the year. Beecham attributes this rebound to "the hope, the fact that these two countries are talking will lead to a more sustainable deal."

He also highlights that the tone and presentation of the recent truce announcement have helped to reassure investors. The involvement of Treasury Secretary Scott Bessent in the discussions "is taken as a sign that the adults are in charge and that the White House does want a deal with China," he said. Only then can we determine if "this bounce can be sustained over the longer term," Chris said. Which is what people said about Michael Jordan’s vertical jump when he started at college, I would imagine. And yet he showed them, didn’t he? #NotFinancialAdvice

Today on the ‘gram: Dance, robot, dance!

Post of the day: UnitedHealthScare?

Quote of the Day

Max is now HBO Max, which it also used to be (yes, it’s confusing)