Retail traders have been letting AI take a heavier hand in their portfolios for a while: It started with research, then investment advice, and now, autonomous stock trading.

Today, Robinhood unveiled two new products—Agentic Trading and an Agentic Credit Card—that allow users to connect AI agents like Claude and Cursor to an investment account, and give those agents detailed instructions to conduct trades and make purchases on their behalf.

Robinhood said investors will be able to ask their agent to review their portfolio’s concentration risk, or a retail trader might use it to build a complicated mean-reversion strategy that finds and then buys oversold stocks. Customers can also connect an AI agent to their Robinhood Gold credit card, and ask it to do things like monitor for discounts, snag restaurant reservations, or make purchases for a special occasion, according to the user’s instructions.

“Our mission has always been to democratize finance for all, and now, that mission extends to AI agents,” explained Robinhood CEO Vlad Tenev in a statement.

Robinhood gained 2.87% today.

Everything is AI these days

Robinhood isn’t the only company rolling out as many products with the word “AI” in it as possible.

Earlier this year, Public launched a similar feature that enables AI agents to operate users’ portfolios. Back in April, Citigroup unleashed an AI agent named Sky that answers investors’ questions. Even AI companies themselves can see that financially-focused AI has an audience: OpenAI is launching a personal finance product through ChatGPT.

After all, Americans are increasingly turning to AI for financial advice. But asking ChatGPT what a dividend is and sending an AI agent to go on a spending spree while you make lunch are two completely different things. It’s unclear how many investors will feel comfortable handing the reins over to a robot.

According to Deepak Rao, Vice President of Robinhood Money, the reception from retail traders has been warm. “I do think it’s being embraced by the active trading community,” he told us. “I think the reception from today also shows that…a lot of people want to have access to this.”—LB

🟢 What’s up

• Telecom infrastructure contractor Dycom Industries surged 25.97% after reporting 56% sales growth, pointing to “unprecedented” demand for fiber optics and datacenters.
• Bath & Body Works rose 9.64% despite lower quarterly sales, with investors focusing on stable full-year guidance amid its turnaround efforts.
• MGM Resorts gained 9.10% following two analyst upgrades tied to resilient leisure travel demand and a strong event calendar.
• Abercrombie & Fitch climbed 8.88% after reaffirming full-year sales growth expectations despite Middle East-related weakness at Hollister.
• Software company IREN jumped 13.48% after agreeing to purchase roughly $1.6 billion of Nvidia Blackwell systems from Dell.
• Manchester United advanced 12.61% after posting better-than-expected fiscal third-quarter results.
• Ford popped 3.66% as investors cheered its new Ford Energy business.

What’s down

• Cybersecurity company Zscaler fell 31.52% as weak revenue guidance overshadowed a quarterly earnings beat. Fellow cybersecurity stocks Palo Alto Networks lost 3.22%, while CrowdStrike sank 3.90%.
• Insulet dropped 5.07% after announcing another device correction tied to potential insulin under-delivery issues.
• Dick’s Sporting Goods slid 6.29% after cutting its full-year earnings outlook, despite narrowly topping first-quarter expectations.
• Verra Mobility tumbled 70.57% after Avis Budget Group terminated a key contract.
• Boston Scientific declined 12.46% after management flagged ongoing weakness in Watchman heart implant procedures.
• PDD Holdings fell 10.38% after aggressive supply chain investments pressured profitability and led to a quarterly miss.

There’s no shortage of opinions about where the market is going next. Some investors see the S&P 500’s eight-week rally—its longest winning streak since 2023—as a sign of a bubble. Others think the AI-driven rally still has plenty left in the tank. Goldman Sachs, for one, argues the bull market is far from over.

The bank became the latest on Wall Street to forecast that the S&P 500 will climb another 6.4% and reach 8,000 by year-end, echoing Deutsche Bank and Morgan Stanley. Goldman also raised its earnings forecasts, and now expects S&P 500 earnings to grow 24% this year and another 13% in 2027.

Part of that optimism stems from a stronger-than-expected earnings season. According to FactSet, 84% of S&P 500 companies reporting first-quarter results have beaten earnings estimates, above the five-year average of 78%. Goldman also expects AI to remain a major profit driver, particularly for companies tied to the AI infrastructure buildout.

Importantly, Goldman argues the current rally does not resemble past market bubbles. While stocks have surged, the market’s P/E multiple has actually fallen about 4% this year, suggesting gains are being driven more by improving earnings than investors blindly paying for higher valuations. The bank also noted that several hallmarks of late-cycle behavior remain relatively muted, including retail trading activity, speculative positioning, and capital markets issuance.

While Goldman flagged several risks—higher energy prices, slowing earnings momentum if AI disappoints, and weaker historical market performance ahead of US midterm elections—the bank is still keeping at least one foot firmly in the bull camp.—SY

Lululemon has a long way to go in regaining its cachet with customers, but it’s at least officially done fighting with its founder. The athleisure brand’s messy brawl with Chris Wilson has finally ended in a truce, which sent shares 2.90% higher today.

Wilson has agreed to stop bashing the company for 18 months. In exchange, he will get to name two new directors to the company’s board after its annual meeting in June: former On co-CEO Marc Maurer and former ESPN CMO Laura Gentile. Wilson will also get to nominate a third director with product and brand expertise in apparel by October.

This deal settles a drama that goes waaay back to 2013, when the store was forced to recall 17% of its yoga pants for being too sheer. Wilson’s defense? “Some women’s bodies just don’t actually work” in Lulu’s pants. Cue the body-shaming backlash—Wilson resigned as chair, and lingered on the board, but left two years later.

Late last year, though, Wilson resumed bad-mouthing the company for killing creativity and “losing its cool” with its once-loyal fan base. In December, as Lulu’s second-biggest shareholder (with 8.7% of shares), he upped the ante by launching a proxy fight aimed at overhauling the company’s board.

How Lulu lost its mojo

Wilson’s vendetta is not simply the revenge plot of a scorned CEO. Lululemon’s US store sales have slumped due to tariff costs, shaky consumer confidence, and a product line that’s failed to impress. Shareholders have also lost their love of Lulu, with shares tumbling more than 36% this year.

It’s been nothing but upheaval for Lulu lately. In January, CEO Calvin McDonald stepped down, with former Nike executive Heidi O’Neill slated to take the helm in September. Then the company issued weak guidance for 2026 in its Q4 earnings announcement in March, warning that its proxy battle with Wilson could drag down the company’s bottom line.

Lulu has remained tight-lipped through Wilson’s months-long tirade. But on May 18, the company issued its first public retort since the proxy battle kicked off. In a letter to shareholders, the board accused Wilson of “outdated perspectives” and “troubling conflicts of interest” that could derail the company’s recovery, painting his board picks as “an attempt to regain increased influence over the company that he has coveted since he left.”

Thankfully, all this dirty laundry has been ironed out before the company’s annual meeting on June 25…at least in theory. Whether today’s ceasefire is enough to bring back the customer base whose bodies “just don’t work” remains to be seen.—JD

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• Jamie Dimon said JPMorgan Chase could spend up to $20 billion on acquisitions in the coming years.
• Wall Street banks are forecasting another quarter of blockbuster trading revenue.
• Meet Elon Musk’s biggest fan: An 83-year-old mutual fund investor who was betting on him before everyone else.
• Exxon Mobil won shareholder approval to move to Texas.
• The Trump Accounts app is launching this Thursday. Here’s what you need to know.

Economic announcements: All eyes are on inflation tomorrow with the latest PCE reading. Economists expect core PCE to rise 0.3% month over month and 3.3% year over year. PCE is the heavy hitter, but we’ve also got reports on initial weekly unemployment claims, durable goods orders for April, and new home sales for April.

Earnings reports: Costco will tell us a bit more about the state of the consumer, while we’ll also get numbers from Dell, Autodesk, MongoDB, Dollar Tree, Burlington Stores, Kohl’s, Hormel Foods, The Gap, and Okta.

Everything else: The final round of the 98th annual Scripps National Spelling Bee will kick off at 8pm ET, and we are E-X-C-I-T-E-D.