📆 Earnings, Jobs, and PCE, oh my

🥽 Plus Meta spaffed $50 billion of the wall

Investing in Uranium. The next big thing or the new best way scammers will use to steal your money?

Are you overpaying your financial advisor?

Ah, summer. Time for barbecues, beach vacays, and oh yeah – your financial advisor taking their quarterly fees.

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  • Passive fund fees average 0.11% – what do you pay?

  • Management fees range from 0.80% to 1% – are you overpaying?

  • Red flag report: Is your advisor a true fiduciary, or just a registered broker?

With ​Rainbook​, you can answer these questions in just a few clicks, at no cost.

Remember readers, your financial advisor works for you. Evaluate your advisor’s performance + uncover hidden fees with Rainbook (it’s free).

📰 Market Headlines

  • Wall Street braces for a whirlwind week as a Fed decision, Big Tech earnings, and the July jobs report loom ahead.

    • The S&P 500 and Nasdaq fell over 1% and 2.3% respectively last week, while the Dow Jones rose about 0.6%

    • The Fed decision is due Wednesday. On Thursday, Apple and Amazon earnings will follow, and on Friday, the July jobs report will follow.

  • Meta's Reality Labs division lost nearly $50 billion over four years, with insiders blaming a chaotic culture and lack of AR/VR expertise.

  • Former President Trump pledged to maintain current bitcoin holdings if elected but stopped short of promising a strategic reserve.

  • Apple's AI features, which were initially planned for the iOS 18 release, will now roll out in October with iOS 18.1 due to stability concerns.

🕶️ 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

PCE is coming down slowly but surely.

🧠 What do you think?

Cocaine Sharks are a thing we’ve got to worry about now. But how would it hold up against Cocaine Bear?

Who are you backing?

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📊 Stocks

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

Winners and losers

Earnings, upgrades, and acquisitions

Welcome to the busiest earnings week of the year. Here is who’s reporting:

  • Monday: McDonald's (MCD), Philips (PHG), Tilray (TLRY)

  • Tuesday: Microsoft (MSFT), BP (BP), Electronic Arts (EA), JetBlue (JBLU), Marathon Petroleum Corporation (MPC), Pinterest (PINS), Pfizer (PFE), Procter & Gamble (PG), Starbucks (SBUX)

  • Wednesday: Meta (META), Boeing (BA), Carvana (CVNA), Humana (HUM), The Kraft Heinz Company (KHC), Mastercard (MA), Paycom (PAYC), Qualcomm (QCOM)

  • Thursday: Apple (AAPL), Amazon (AMZN), Booking Holdings (BKNG), Canada Goose (GOOS), Coinbase (COIN), ConocoPhillips (COP), Crocs (CROX), DraftKings (DKNG), Marathon Digital Holdings (MARA), Moderna (MRNA), Roku (ROKU) SiriusXM (SIRI)

  • Friday: Chevron (CVX), Exxon Mobil (XOM)

Market movers

  • Stripe acquired Lemon Squeezy, a payment processing startup, to scale merchant of record selling.

  • "Deadpool & Wolverine" broke the R-rated opening weekend record, grossing $205 million domestically and $438.3 million globally.

  • Apple joined 15 other major tech companies by signing the White House's voluntary commitment to developing safe and trustworthy AI.

  • WazirX announced plans to socialize its $230 million security breach loss among all customers, returning only 55% of user holdings.

  • The US Treasury launched an initiative with Amazon basin governments to disrupt illicit finance fueling nature crimes.

Ideas, trends, and analysis

  • The US saw inflation cool over June, with PCE price index up 0.1% month-over-month, boosting hopes for a September rate cut.

  • Generative AI's power demands put strain on the US grid, with data centers expected to consume 16% of total US power by 2030.

  • Barcelona announced a ban on short-term rentals by 2028 to address housing shortages and increasing rent prices.

Recommended Newsletter

🌍 Global Perspectives

  • 🇦🇺 Australia signed a $1.4 billion contract to upgrade its Collins class submarines.

  • 🇮🇷 Iran's supreme leader formally endorsed reformist Masoud Pezeshkian as president.

  • 🇷🇺 Putin issued a nuclear warning over US plans to deploy missiles in Germany in 2026.

  • 🇺🇸🇮🇱🇱🇧 The US engaged in "continuous discussions" with Israel and Lebanon after a rocket attack killed 12 children in the Golan Heights.

  • 🇨🇺🇷🇺 Three Russian warships arrived in Cuban waters, deepening ties between the two nations.

  • 🇬🇧 The UK's new government declared the nation "broke and broken" as it prepared to tackle a shortfall in public finances.

📊 Crypto

  • Michigan's pension fund added $6.6 million in ARK 21Shares Bitcoin ETF holdings, becoming the third pension to own a Bitcoin ETF.

  • Senator Lummis introduced a bill urging the US Treasury to purchase 1 million bitcoins over five years as a "strategic Bitcoin reserve."

  • Grayscale Ethereum Trust ETF experienced historic outflows of $1.5 billion since its launch, with $356 million withdrawn in a single day on July 26.

🧠 Errata

  • Sierra Space blew up another inflatable space station module, achieving safety levels four times NASA's minimal requirements.

  • Two meteor showers, the Southern Delta Aquariids and Alpha Capricornids, are set to dazzle skywatchers in late July.

  • A black bear and a cub tore apart the inside of a car in Connecticut after being trapped inside.

📺 What to Watch Today

Did they try putting on a movie?

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

Cheers,

Wyatt

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