(Brendan Smialowski/Getty Images) |
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It’s June, which usually means we stock up on strawberries while they are in peak season, but we kid you not when we say we saw a quart going for upward of $15 the other day. It turns out we’re not alone: the Washington Post reports that parents are “going broke on berries” and the cost of a pound of strawberries is now 6x that of bananas.
The S&P 500, Nasdaq 100, and Russell 2000 posted daily and weekly gains on Friday. Every sector finished in the green except for healthcare.
🎵 Some music trivia for you:
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- What is the only song released before 1980 to make the list of top 500 songs on Spotify?
Check your answer.
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Elon Musk is now a trillionaire |
After a needless to say eventful week, Elon Musk is now a trillionaire, having added some $274 billion to his net worth through last Thursday alone and $351 billion to his net worth year to date, according to the Bloomberg Billionaires Index.
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- That makes Musk more than 3x richer than the next man on the list, Google cofounder Larry Page. He’s nearly 4x richer than Jeff Bezos, and possesses nearly 10x the wealth of Bill Gates.
- As recently as 2024, the richest man on Earth had about $200 billion, and the title shifted between Musk, Bezos, and Bernard Arnault. In 2025, a rally in Oracle briefly made CEO Larry Ellison the richest man on the planet.
- Having blasted off to a trillion dollars, and with all rivals far in his Tesla’s rearview mirror, Musk is now in an entirely novel echelon of wealth.
- If you spent $27,000 a day for 100 years, you would spend about a billion dollars over that century. A trillionaire could do $27 million per day for that century.
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The ancient Egyptians believed that the measure of a person’s worth was calculated upon their death when Anubis, god of the afterlife, would weigh their heart against a feather to see if a heavy heart would be fed to Ammit, the Devourer of Souls. Here in America, we do things a little differently, where the measure of worth is the net present value of future cash flows, and in lieu of Anubis, we delegate that task to the market. As it stands now, by our ancient rites and customs, Elon Musk is the first trillion-dollar man.
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Sure, you might say, a trillion dollars is a lot of money, but that’s a paper trillion, the amount backed by voluminous stock holdings and not actually spendable. But given the ample number of people lining up around the block to offer credit vehicles and capital to the richest man in the world already, the line won’t be around the block so much as to the moon and back to offer money to a man who is 3x richer than his closest rival. It’s Musk’s world, and we’re just in it.
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Tactical tech trading starts with index options. |
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Stories we’re obsessed with |
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New data from energy think tank Ember shows that solar supplied 12.8% of US energy generation in May — marking not only the highest share ever recorded for the clean energy source, but also the first time it’s surpassed coal.
See it charted
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- 🇪🇸 Spain vs. 🇨🇻 Cape Verde: Spain, considered along with France to be the tournament favorite, is overwhelmingly expected to win this one, with prediction markets* giving Spain a 92% chance and Cape Verde a 4% shot.
- 🇧🇪 Belgium vs. 🇪🇬 Egypt: Belgium is a small powerhouse, coming in at No. 9 on the international rankings, and is seen as having the edge against Egypt; markets give Belgium a 62% chance of a win and Egypt a 16% chance.
- 🇸🇦 Saudi Arabia vs. 🇺🇾 Uruguay: The Kingdom of Saudi Arabia has an 11% chance of pulling off a win, while Uruguay has a 69% of winning their opening game.
- 🇮🇷 Iran vs. 🇳🇿 New Zealand: This one looks to be the closest match of the day, where Iran’s got a 54% chance of a win, while New Zealand comes in at a 21% chance.
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*Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.
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- Monday: May industrial production
- Tuesday: FOMC two-day meeting begins
- Wednesday: Premarket earnings: CarMax and Jabil. FOMC rate decision and press conference
- Thursday: Premarket earnings: Accenture and Kroger
- Friday: US markets closed in observance of Juneteenth
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For the sake of simplicity, the examples included do not take into consideration commissions and other transaction fees, tax considerations, or margin requirements, which are factors that may significantly affect the economic consequences of a given strategy. An investor should review transaction costs, margin requirements and tax considerations with a broker and tax advisor before entering into any options strategy.
Options involve risk and are not suitable for everyone. Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of Standardized Options. Copies may be obtained from your broker, one of the exchanges or The Options Clearing Corporation, One North Wacker Drive, Suite 500, Chicago, IL 60606 or call 1-888-OPTIONS or visit www.888options.com.
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Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... See more
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