Markets were mixed. The S&P 500 (^GSPC) hovered near the flat line after closing above 6,200 for the first time on Monday. The Nasdaq Composite (^IXIC) dipped roughly 0.6%, weighed down by a drop in Tesla (TSLA) shares as tensions between CEO Elon Musk and Donald Trump reignited. Meanwhile, the Dow Jones Industrial Average (^DJI) gained around 1%.
A short trading week. The market will be closed on Friday for Independence Day.
International market action.Asian markets closed mixed; China's manufacturing PMI rose to 50.4, signaling expansion. European stocks declined; Eurozone CPI hit 2.0%, matching forecasts and the ECB target.
The dollar fell. The U.S. dollar index hit a fresh 3-year low.
Job openings skyrocketed. Job openings rose to 7.76M in May, the highest level since November of 2024 and beating expectations.
Rate cut still on the table. Jerome Powell didn't rule out a July rate cut and cited Trump's tariffs as a key factor for caution.
Economic data. ISM Manufacturing PMI came in at 49.0 vs. 49.1 expected. Supplier deliveries and production supported the index, while employment and new orders lagged.
June performance. S&P 500 +5%, Nasdaq-100 +6.3%, DJIA +5.3%.
Gold went higher. Gold prices rose 1.1% to $3,338.24/oz as investors sought safety after Senate passed Trump's tax bill. Gold futures settled 1.3% higher at $3,349.8.
Oil went up. Brent crude went up 0.5% to $67.09/barrel while WTI crude went up 0.7% to $65.55/barrel. Gains driven by positive demand signals from China, Saudi Arabia, and Russia.
Crypto news. Bitcoin hovered under $106,000. SEC approved Grayscale Index ETF conversion; Solana, XRP, and Cardano cleared for spot trading.
The Big Beautiful Bill was passed. Senate passed Trump's sweeping $3.3T tax and spending bill (50-50 vote; VP JD Vance cast tie-breaker). Bill includes repeal of federal ban on state-level AI regulation, phase-out of clean energy subsidies after 2027.
Solar stocks rallied. The Senate stripped an excise tax on wind and solar projects: Sunrun (RUN) +10%, Enphase (ENPH) +4%, and SolarEdge (SEDG) +7%.
Circle (CRCL)jumped 2.8%. Investors learned that the stablecoin company applied for a national trust bank charter.
Tesla slumped. The electric vehicle maker sank after President Trump called for a probe into federal subsidies received by Musk's companies.
OshKosh Corp. went higher. The company received an upgrade from Goldman Sachs to "BUY" with a price target of $131.
Diabetes stocks fell. CMS proposed reimbursement changes causing slumps in Tandem (TNDM) -4%, Beta Bionics (BBNX) -6%, Dexcom (DXCM) -4%, and Insulet (PODD) -4%.
Lululemon is suing Costco. The athletic apparel company is suing Costco for allegedly selling knockoff products.
Apple moved higher. AI rumors tied to Anthropic or OpenAI led to gains.
"I wouldn't take any meeting off the table or put it directly on the table," Powell said during a panel discussion at a European Central Bank monetary policy conference in Portugal when asked about a potential rate cut this month. "It's going to depend on how the data evolved."
Lululemon has filed a lawsuit against Costco, accusing the retail giant of selling low-cost knockoffs of some of its best-selling athleisure products.
In the complaint filed in the U.S. District Court for the Central District of California, Lululemon claims Costco has "unlawfully traded" on its brand reputation, goodwill, and distinctive designs by selling unlicensed apparel that allegedly infringes on its patents. The lawsuit also alleges that Costco frequently sources products for its Kirkland private label from manufacturers connected to major brands, without disclosing those ties to consumers.
Ford Sales Jump 14% in Q2
Ford Motor (F) shares climbed Tuesday following the release of second-quarter sales data showing sharp year-over-year gains. Ford posted a 14% jump in Q2 sales compared to a year ago—"about 10 times the estimated 1.4% industry increase," the company said—delivering 612,095 vehicles. The increase was led by strong demand for its pickup trucks, with F-Series, Ranger, and Maverick sales rising 15% to 288,564 units.
President Trump and Elon Musk Reignite Their Feud
President Trump escalated his feud with Elon Musk on Tuesday, slamming the billionaire over federal subsidies and suggesting scrutiny from the Department of Government Efficiency (DOGE), which Musk once led. "Without subsidies, Elon would probably have to close up shop and head back home to South Africa," Trump wrote on Truth Social, adding, "perhaps we should have DOGE take a good, hard, look at this?" The clash came as Senate Republicans stripped a key AI protection from Trump's legislative package, deepening tensions with Silicon Valley. Musk, a vocal critic of the bill, warned GOP lawmakers they "will lose their primary next year if it is the last thing I do on this Earth."
Disclaimer: We are engaged in the business of advertising and promoting companies. All content on our website is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Neither the information presented nor any statement or expression of opinion, or any other matter herein, directly or indirectly constitutes a solicitation of the purchase or sale of any securities. Neither the owner of Trading Wire nor any of its members, officers, directors, contractors or employees are licensed broker-dealers, account representatives, market makers, investment bankers, investment advisers, analyst or underwriters. Investing in securities, including the securities of those companies profiled or discussed on this website is for individuals tolerant of high risks. Viewers should always consult with a licensed securities professional before purchasing or selling any securities of companies profiled or discussed on Trading Wire. It is possible that a viewer's entire investment may be lost or impaired due to the speculative nature of the companies profiled. Remember, never invest in any security of a company profiled or discussed on this website unless you can afford to lose your entire investment. Also, investing in micro-cap securities is highly speculative and carries an extremely high degree of risk. Trading Wire makes no recommendation that the securities of the companies profiled or discussed on this website should be purchased, sold or held by viewers that learn of the profiled companies through our website.
Some of the content on this website contains "forward-looking statements." Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential," or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which may be beyond a company's control, and cannot be predicted or quantified, and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. It is hereby noted that forward-looking statements contained herein may include everything other than historical information, involve risk and uncertainties that may affect a company's actual results of operation. A company's actual performance could greatly differ from those described in any forward-looking statements or announcements mentioned on this website or the websites contained within. Factors that should be considered that could cause actual results to differ include: the size and growth of the market for the company's products; the company's ability to fund its capital requirements in the near term and in the long term; pricing pressures; unforeseen and/or unexpected circumstances in happenings; etc. and the risk factors and other factors set forth in the company's filings with the Securities and Exchange Commission. However, a company's past performance does not guarantee future results.
Generally, the information regarding a company profiled or discussed on this website is provided from public sources tradingwire.com makes no representations, warranties or guarantees as to the accuracy or completeness of the information provided or discussed. Viewers should not rely solely on the information obtained through our website or in communications originating from our website. Viewers should use the information provided by us regarding the profiled companies as a starting point for additional independent research on the companies profiled or discussed in order to allow the viewer to form his or her own opinion regarding investing in the securities of such companies. Factual statements, or the similar, made by the profiled companies are made as of the date stated and are subject to change without notice and Trading Wire has no obligation to update any of the information provided. Trading Wire, its owners, officers, directors, contractors and employees are not responsible for errors and omissions.
From time to time certain content on this website is written and published by our employees or third parties. In addition to information about our profiled companies, from time to time, our website will contain the symbols of companies and/or news feeds about companies that are not being profiled by us but are merely illustrative of certain activity in the micro cap or penny stock market that we are highlighting. Viewers are advised that all analysis reports and news feeds are issued solely for informational purposes. Any opinions expressed are subject to change without notice. It is also possible that one or more of the companies discussed or profiled on this website may not have approved certain or any statements within the website. Trading Wire encourages viewers to supplement the information obtained from this website with independent research and other professional advice. The content on this website is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data. Third Party Web Sites and Other Information This website may provide hyperlinks to third party websites or access to third party content.Trading Wire, its owners, officers, directors, contractors and employees are not responsible for errors and omissions nor does Trading Wire control, endorse, or guarantee any content found in such sites. Trading Wire does not control, endorse, or guarantee content found in such sites. By accessing, viewing, or using the website or communications originating from the website, you agree that Trading Wire, its owners, officers, directors, contractors and employees, are not responsible for any content, associated links, resources, or services associated with a third party website. You further agree that Trading Wire, its owners, officers, directors, contractors and employees shall not be liable for any loss or damage of any sort associated with your use of third party content. Links and access to these sites are provided for your convenience only. Trading Wire uses third parties to disseminate information to subscribers. Although we take precautions to prevent others from obtaining our subscriber list, there is a risk that our subscriber list, through no wrong doing on our part, could end up in the hands of an unauthorized party and that subscribers will receive communications from unauthorized third parties. We encourage viewers to invest carefully and read the investor issuer information available at the web sites of the United States Securities and Exchange Commission (SEC). The SEC has launched an investor-focused website to help you invest wisely and avoid fraud at www.investor.gov and filings made by public companies can be viewed at www.sec.gov and/or the Financial Industry Regulatory Authority (FINRA) at: www.finra.org. In addition, FINRA has published information at its website on how to invest carefully at www.finra.org/Investors/index.htm.
