🛬 Boeing pled guilty to fraud

🌀 While Beryl pummeled Houston, killing seven

As Hurrican Beryl rips through the US and submerges Houston, I encourage you to revisit my analysis of how climate change will impact American Real Estate values.

ICONOMI: Master your crypto strategy

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ICONOMI has one of the longest-standing public crypto index portfolios, running since 2017. It's perfect for crypto beginners and those who don't have the time or skillset to outperform the market.

How ICONOMI works:

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📰 Market Headlines

  • Wall Street squeezed out fresh highs as investors braced for Powell's testimony and key inflation data this week.

  • Russia fired 38 missiles at Ukraine yesterday, killing 41, including at least three children. Targets included a children's hospital, a maternity center in Kyiv, and children's nurseries.

  • Boeing pled guilty to a criminal fraud conspiracy charge after a probe into two fatal 737 MAX crashes.

  • Serena Williams attempted to deposit her first $1 million check at a drive-thru ATM.

🕶️ Market Vibes

🎰 Market Forecasts and Futures

Forecasts via ​Kalshi​, the prediction market.

😱 Fear and Greed Index

🎤 What you said last time

📈 Trends you need to know

Confirmed shark attacks from 1580 to present

Australia is only behind America because records weren’t kept until like five years ago.

🧠 What do you think?

What's killed more people over the last 20 years?

Login or Subscribe to participate in polls.

📊 Stocks

Get $20 free shares at ​public.com​ using code ALTSCO.

Winners and losers

Earnings, upgrades, and acquisitions

  • Volkswagen and Rivian unveiled a $5 billion joint venture to develop next-gen software-defined vehicle platforms, set to finalize in Q4 2024.

  • Eli Lilly announced plans to acquire Morphic Holding Inc. in a $3.2 billion deal.

Market movers

  • Tesla and a shareholder clashed in court over a $7 billion legal fee request related to Elon Musk's pay package lawsuit.

  • Apple removed several VPN apps from its App Store in Russia at the government's request.

  • Samsung workers in South Korea began a 3-day strike for better pay.

  • OpenText cut 1,200 jobs and added 800 as part of an optimization plan.

  • Newrez axed 265 jobs in Colorado and Arizona, its third round this year.

Ideas, trends, and analysis

  • US consumer borrowing jumped in May, driven by a spike in credit card balances.

  • The wedding industry is booming, with brides spending an average of $2,000 on gowns in 2023, up from $1,631 in 2018. [Ed: I have a theory on this]

Recommended Newsletter

🌍 Global Perspectives

  • 🇺🇦 🇷🇺 Russia launched a missile strike on Kyiv, Ukraine, killing at least 36 civilians.

  • 🇭🇺 Hungary's Prime Minister Viktor Orban traveled to Washington after discussing a Chinese peace plan for Ukraine in Beijing.

  • 🇬🇷 A fishing boat carrying nearly 300 migrants to Europe safely reached a southern Greek island.

  • 🇵🇭 🇯🇵 The Philippines and Japan signed a landmark bilateral defense pact.

  • 🇪🇸 Thousands of Barcelona residents took to spray tourists with water to protest overtourism.

📊 Crypto

  • Crypto trading firm Auros launched a $50 million VC arm to invest in early-stage crypto startups.

  • VanEck and others filed amended registration statements for spot Ethereum ETFs as the SEC deadline approaches.

  • Bitcoin plummeted as Germany sold off hundreds of millions worth of seized BTC, still holding around $1.9 billion.

🧠 Errata

  • A rural Chinese student sparked awe and suspicion after beating math elites in a global contest.

  • NASA's Mars simulation volunteers returned after 378 days in a mock habitat.

  • Ants perform limb amputations on injured comrades, rivaling human medical care.

  • A driver got stuck on a Utah mountain thanks to a Google Maps "shortcut".

  • TSA set a new record, screening over 3 million travelers in a single day.

📺 What to Watch Today

Behold, tiny surgeons at work.

That’s all for today. Did I miss anything? Smash the reply button to let me know.

Cheers,

Wyatt

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