|  | Nasdaq | 21,053.58 | |
| | S&P | 6,329.94 | |
| | Dow | 44,173.64 | |
|  | 10-Year | 4.200% | |
| | Bitcoin | $115,161.56 | |
| | American Eagle | $13.28 | |
| | Data is provided by |  |
*Stock data as of market close, cryptocurrency data as of 6:00pm ET. Here's what these numbers mean. | - Markets: Stocks rebounded like Wilt Chamberlain yesterday, recovering from the plunge brought on by last week's disappointing jobs data and tariff concerns, with the S&P 500 snapping a four-day losing streak.
- Stock spotlight: Sydney Sweeney's ad for American Eagle has gotten tons of attention—both good and bad, with some criticizing it for oversexualization and even promotion of eugenics with its genes/jeans pun. And now, it has gotten the retailer the Trump Bump: The clothing chain soared like its namesake after the president posted on social media that Sweeney is a registered Republican and has the "'HOTTEST' ad out there."
| Markets Sponsored by HeartSciences $3.50/share opportunity: After their expected FDA submission, analysts give HeartSciences shares a one-year price target of $14. Invest at $3.50. |
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TRADE Like a straight-A student living the nightmare that their teacher called their parents to say they're on the verge of failing math, famously conflict-avoidant Switzerland is racing against the clock to get out of the fight President Trump picked with the country last week. He slapped Switzerland with a punishing 39% tariff—the highest among industrialized nations—and more than double the 15% import duty the EU negotiated recently. Yesterday, Swiss leaders said they're "ready to present a more attractive offer," and would address US concerns. The trade barrier—which one Swiss newspaper called the country's biggest defeat since France beat it in the Battle of Marignano in 1515—came after a phone call between Trump and Swiss President Karin Keller-Sutter last week. It blindsided negotiators who reportedly believed that they were on track to seal a favorable trade deal. The country's leaders are now getting flak for bungling talks and are working to change Trump's mind before the new tariff rate is slated to kick in on August 7. Not feeling neutral The steep tariff could risk tipping Switzerland's economy into a recession, as the US accounts for a sixth of all the goods the country sends abroad. Switzerland's claim to fame as a top-shelf goods supplier is what made it a target for some of Trump's heaviest tariffs: - The land of bougie chocolate and watches has the 13th-largest annual trade surplus with the US, amounting to $38 billion last year.
- Though a chunk of that comes from Swiss gold exports (the country is a major transit point for the precious metal), some local business leaders blamed the country's pharma giants for inspiring Trump's ire. The $35 billion worth of Swiss drugs sent to the US yearly contributes to the trade imbalance.
Even though pharma is currently exempt from the import duty, Switzerland-based Novartis and Roche's US subsidiary Genentech were among the major pharma purveyors that POTUS recently gave 60 days to lower drug prices. Looking ahead…Keller-Sutter said Switzerland doesn't have many concessions it could give the US, as it already has a 0% tariff rate for almost all American products. But Switzerland's business minister Guy Parmelin said the country could try to win Trump over by offering to buy more American liquefied natural gas or ramping up investments in the US economy.—SK | | |
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Presented By HeartSciences Some Wall Street analysts project this stock will jump to $14 over the next year. But you can still invest for $3.50. HeartSciences (Nasdaq: HSCS) is a technology leader in AI that makes heart disease easier to detect on the front lines. Their patented software can be added to any ECG device. With 1b ECGs performed every year, it's no surprise Wall Street is bullish. HSCS shares have closed as high as $5.73 this month. But you can get preferred stock for $3.50, which can be converted into Nasdaq-traded common stock anytime. Even better? HeartSciences is targeting FDA submission this summer, making now a key moment to invest. Invest in HeartSciences at $3.50/share here. |
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WORLD  Tesla awards Elon Musk $29 billion worth of stock to keep the CEO focused. The electric car maker granted Musk 96 million restricted shares, saying it was a "first step, good faith" gesture toward retaining its CEO and keeping his focus on the company amidst his other projects. Musk had previously threatened to turn his attention to developing AI elsewhere if he didn't get more control of Tesla. The company said Musk, who is currently the world's richest person, hadn't been paid in years because of legal disputes over his $56 billion 2018 pay package (which a Delaware court tossed out as improperly granted twice, prompting Tesla to appeal), noting that the company's value on the stock market has gone up by $735 billion since 2018. The shares will be forfeited if Tesla prevails in getting the earlier compensation package restored. The big payday comes despite Tesla's recent falling sales amid Musk's public turn to politics.
 AI pushes Palantir's quarterly revenue up to $1b. The data analysis software company beloved by both retail traders and government spies is on a roll: Palantir's revenue rose 48% last quarter, hitting $1 billion for the first time, which its CEO Alex Karp said was thanks to "the astonishing impact of AI." Palantir also upped its guidance for the year, saying it now expects to make $4.14 billion to $4.15 billion. While some on Wall Street have warned that the company's shares are overvalued, Karp said, "The skeptics are admittedly fewer now, having been defanged and bent into a kind of submission."
 Trump threatens India with high tariffs for buying Russian oil. He hasn't revealed an exact number, but with President Trump's envoy Steve Witkoff headed to Russia this week to try to encourage it to negotiate a ceasefire with Ukraine, Trump said he plans to "substantially" raise tariffs on India's goods. Last week, the president said he would impose a 25% tariff on Indian imports, but this would likely be on top of that since he has threatened "secondary tariffs" on Russia's trading partners. India called targeting it "unjustified and unreasonable," saying the US and the EU had also traded with Russia.—AR
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RETAIL Ty Haney, the woman who brought you exercise dresses, has returned to her athleisure company, Outdoor Voices, as a partner and co-owner ahead of today's launch of the first collection of her new tenure. "We're back, baby," Haney said in a reel posted to OV's Instagram last week. The original outdoor voice said she started working with OV again late last year, soon after a private equity firm bought the struggling brand and asked Haney to come home. It's a full-circle moment on an overall bumpy ride for OV: - The DTC brand peaked in 2018, five years after its founding, with legions of millennial fans and a $110 million valuation.
- Its valuation dropped to $40 million in early 2020. The board of directors then pushed Haney out as CEO amid highly publicized quarreling.
- OV reported its first profitable month soon after for June 2020, but the overhaul didn't last—OV shuttered all of its stores last year before accepting an acquisition offer to avoid bankruptcy.
Now…Haney recently told Texas Monthly that she wants to court Gen Z with more "fashion-forward and sexy" activewear. Her return comes at a time when everybody—including high fashion—is doing athleisure, and direct competitors like Vuori and Alo are gaining ground.—ML | | |
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MEDIA The right-leaning New York Post is making a pivot to the left coast. The tabloid is launching the California Post out of a Los Angeles headquarters in early 2026, a move that comes as local news options are dwindling and elections are forthcoming. While starting a newspaper now may seem like starting a horse-and-buggy company 20 years after the arrival of the automobile, there's evidence that parent company News Corp's Rupert Murdoch has done his homework: - The Post says it's been profitable the past three years, a rare feat in the industry.
- Los Angeles already has the second-largest concentration of Post readers. Now, it will have a pun-loving paper of its own.
- The Los Angeles Times, LAist, and LA Weekly have all cut staff in recent years. The Times laid off 20% of its newsroom in January of 2024, and owner Patrick Soon-Shiong said the paper was losing $30 million to $40 million annually. This could create a space for The Post to thrive.
Zoom out: The Post cited the midterm and gubernatorial elections happening next year in California, a staunchly blue state, as one reason behind the timing. "We are at a pivotal moment for the city and the state, and there is no doubt that The Post will play a crucial role," said Robert Thomson, CEO of News Corp.—DL | | |
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STAT It probably wasn't as big a shock to BP as it was to Jed Clampett, but the company said yesterday it had made its biggest oil and gas discovery in 25 years while drilling off the coast of Brazil. The find comes as BP turns away from trying to pivot to renewable energy, once again going all in on fossil fuels. - The area, known as the Bumerangue block, is in deep water in the Santos Basin, 404km (218 nautical miles) from Rio de Janeiro. It's believed to contain gas, condensate, and oil—though BP wasn't willing to estimate exactly how much yet.
- BP said it could be the company's largest find since the discovery of the giant gas and condensate field Shah Deniz in the Caspian Sea in 1999.
The discovery is BP's 10th this year as the company searches for more oil and gas to try to convince investors that it can deliver returns from traditional black gold. The company reports its quarterly results today.—AR |
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Together With T-Mobile Written in the stars. Look up: Do ya see it? Probably not. But the mere thought of T-Mobile's T-Satellite working on your behalf up in space should be a comforting one. T-Mobile members with Experience Beyond plans can pay just $10/line during this promo. Get in on the fastest median download speeds in the US. |
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NEWS - Texas issued civil arrest warrants for Democratic lawmakers who left the state to block a vote on a redistricting map requested by President Trump that could add five Republican seats in Congress.
- The State Department has proposed requiring applicants for US business and tourist visas to post a bond of up to $15,000, potentially making US travel unaffordable for many visitors.
- Plastic pollution is a danger to health that costs the world at least $1.5 trillion per year, according to a report published in a prestigious medical journal yesterday ahead of talks aimed at negotiating a worldwide treaty to address the issue.
- Air taxi company Joby will acquire helicopter operator Blade's passenger business for $125 million, while Blade will hang on to its medical transport division.
- Israel's government voted to fire the attorney general, who has investigated Prime Minister Benjamin Netanyahu, but the country's Supreme Court halted the firing while it considers whether it's legal.
- Martha Stewart is debuting a skincare line, a first for the 84-year-old entrepreneur.
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PLAY Brew Mini: Today's Mini taps into the magic. Play it here. Hiking trivia Hiking the Appalachian Trail (some or all of it) is an American summer tradition. How many states does the trail pass through? And how many of those states can you name? |
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ANSWER 14 states. From south to north: Georgia, North Carolina, Tennessee, Virginia, West Virginia, Maryland, Pennsylvania, New Jersey, New York, Connecticut, Massachusetts, Vermont, New Hampshire, and Maine. Word of the Day Today's Word of the Day is: preempting, meaning "acting before someone else can." Thanks to Anne from Florida for the timely suggestion. Submit another Word of the Day here. |
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✢ A Note From HeartSciences This is a paid advertisement for HeartSciences' Regulation A+ offering. Please read the offering circular at https://invest.heartsciences.com/. ✳︎ A Note From Fidelity ETFs are subject to market fluctuation and the risks of their underlying investments. ETFs are subject to management fees and other expenses. Before investing in any mutual fund or exchange-traded fund, you should consider its investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus, an offering circular, or, if available, a summary prospectus containing this information. Read it carefully. Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917 1208841.1.0 |
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