| | | When the crypto bubble popped, luxury watches crashed. Yesterday we dove in: | Has the luxury watch market bottomed? Is now a good time to jump back in? And if so, what’s the best way to do it?
| Go down the luxury watches rabbit hole. |
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| | Tired of startups that never take off? | Startup investing can be terrific, even life-changing. | But startups can take a long time to get going, and there's no guarantee they ever take off. | | If you want to wait months before you see a payout, not years, then sign up for WebStreet. | WebStreet acquires real companies that are making a profit, and let you invest with them. | Forget the hype. Focus on real cashflow with WebStreet. | | | 📰 Market Headlines | | Last week ended on a high note, with record-breaking indexes and an unexpectedly strong jobs report. The May jobs report showed the US economy added 272,000 jobs, far surpassing expectations. The S&P 500 rose 1.3%, the Nasdaq climbed 2.3%, and the Dow gained 0.3% last week, reaching record highs.
Nvidia's 10-for-1 stock split takes effect today. The move follows a 212% surge in the past year, which pushed its market cap to $3 trillion. Apple's WWDC 2024 is planned for today, with all eyes on generative AI. Spotify announced plans to raise subscription prices and says other audio streamers should do the same.
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| | 🕶️ Market Vibes | 🎰 Market Forecasts and Futures | Forecasts via Kalshi, the prediction market. | | 😱 Fear and Greed Index | | | 🎤 What you said last time | | | | 🧠 What do you think? | 💬 Have your say | Lending money to family is: | | | 📊 Stocks | | | Winners and losers | Earnings, upgrades, and acquisitions | Another round of earnings is coming up. Here's who to look out for: | Tuesday: Academy Sports and Outdoors (ASO), Casey's (CASY), Oracle (ORCL) Wednesday: Broadcom (AVGO), Dave & Buster's (PLAY), Vera Bradley (VRA) Thursday: Adobe (ADBE), Lovesac (LOVE), RH (RH), Signet Jewelers (SIG)
| Market movers | Walmart opposed a New York law requiring retailers to install panic buttons in stores. San Francisco opened a taxpayer-funded $5.5 million "free" food market for qualifying residents. Microsoft unveiled new all-digital Xbox consoles and a new "Doom" game at its annual Xbox Games Showcase. Virgin Galactic completed its last spaceflight before heading into a two-year pause on commercial operations to upgrade its fleet. Credit Suisse bondholders filed a lawsuit against the Swiss government over the failed bank's AT1 debt. Oregon Health & Science University announced plans to lay off over 500 workers.
| Ideas, trends, and analysis |
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| California's creative economy shed 70,830 jobs in 2023, an 8% drop. More affordable homes have entered the market, with inventory in the $200,000 to $350,000 range surging 46.6% year-over-year. Colorado's weed market is coming down hard, with sales plummeting $700 million as businesses shutter. Unemployment ticked up to 4% but remains low, while average hourly earnings jumped 4.1%. Gold prices tumbled following a solid US nonfarm payroll report and China slowing down its gold purchases. Credit card delinquencies hit a 14-year high, with people 35 and under struggling the most.
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| | 🌍 Global Perspectives | 🇮🇱🇵🇸 Israeli forces rescued four hostages held by Hamas in Gaza in a raid that Palestinian officials said killed over 200 people. 🇺🇸🇳🇬 US lawmakers accused Nigeria of detaining an American Binance employee to extort money. 🇰🇷🇰🇵 South Korea announced plans to resume loudspeaker broadcasts at the North Korean border for the first time in six years. 🇾🇪 Houthi authorities in Yemen have detained 11 UN national staff in unclear circumstances. 🇮🇱🇵🇸 Centrist Israeli minister Benny Gantz quit Prime Minister Netanyahu's emergency government. 🇫🇷 French President Macron called shock elections after his party was trounced by Le Pen's far-right in the EU vote.
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| | 📊 Crypto | | The percentage of crypto-margined futures open interest plummeted from 70% in early 2021 to under 20% by mid-2024. BlackRock's spot Bitcoin ETF surpassed 300,000 BTC in assets under management just five months after launching. Former President Donald Trump said he would be the "crypto president" if elected. Medical manufacturer Semler Scientific has planned to raise $150 million to add to their 828 BTC collection. The New York Attorney General pushed back against DCG and Barry Silbert's motion to dismiss the fraud case.
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| | | 📺 What to Watch Today | And it stuck the landing! | | Super Heavy landing burn and soft splashdown in the Gulf of Mexico #spacex #starship |
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| | That’s all for today. Did I miss anything? Smash the reply button to let me know. | Cheers, | Wyatt |
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