RSVPs for our Nashville trip in October go live tomorrow. If you’re into music and making money from music, it could be right up your street.

• Nvidia bounced back and pulled the Nasdaq up along with it.

  • The Nasdaq surged 1.3% and the S&P 500 gained 0.4%, while the Dow declined 0.8%, losing 300 points.

  • Nvidia's 7% rebound after a three-day slump was the main driver behind the tech-heavy Nasdaq's gains.

• Volkswagen has taken a $1 billion stake in EV startup Rivian, with plans for a joint venture, pushing Rivian shares over 30%.

• Tesla recalled the Cybertruck to fix faulty windshield wipers and loose trim pieces, marking the third and fourth recalls for the EV.

• PetroChina agreed to pay a $14.5 million fine for misclassifying ultra-low-sulfur diesel as a mineral oil mix for 2019-2020 exports to Mexico.

📈 Trends you need to know

Yesterday’s big news pushed Rivian shares above Tesla for the last twelve months, but it’s been an awful year for them both.

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Ideas, trends, and analysis

• High office vacancy rates could damage the economy this year, with 20% of the $4.7 trillion in commercial mortgage debt coming due.

• 80% of marginal farmers in India were affected by adverse climatic events in the past five years, with 43% losing at least half their crops.

• The typical newly built house in the US is shrinking, with a median size of 2,140 sq ft in Q1 2024, the smallest since 2009.

🌍 Global Perspectives

• 🇫🇮 Finland will be the first country to start vaccinating humans against bird flu next week.

• 🇵🇸 A new report found Gaza at high risk of famine, with 96% of the population facing food insecurity.

• 🇮🇱 Israel's Supreme Court ruled that ultra-Orthodox Jews must be drafted into the military.

• 🇵🇸 🇮🇱 Israeli airstrikes on Gaza City killed at least 24, including a sister of Hamas chief Ismail Haniyeh.

• 🇰🇪 Protesters stormed Kenya's parliament and set it ablaze over a controversial finance bill.

• 🇷🇺 The International Criminal Court issued arrest warrants for Russia's former defense minister Shoigu and top general Gerasimov.

• 🇰🇪 400 Kenyan police officers left for Haiti to lead a UN security mission on the same day as the violent anti-government protests in Nairobi.

📊 Crypto

• Congressman Matt Gaetz introduced legislation to allow federal income tax payments in Bitcoin.

• Coinbase shares have tumbled 13% in the past two weeks, aligning with Bitcoin's 9% drop.

• VanEck filed form 8-A for its spot Ether ETF, setting the stage for trading to begin as early as July 2nd.

• Fintech firm Fideum launched a crypto investment launchpad emphasizing inclusivity, fairness, and regulatory compliance.

🧠 Errata

• Painted lady butterflies flew 2,600 miles across the Atlantic Ocean without stopping, a feat never before recorded.

• A New Jersey man brought the virtual world to life by flying to Florida and attacking an online gamer, in person, with a hammer.

• China's Chang'e 6 probe returned with the first-ever moon samples from the lunar far side.

• McDonald's just dropped another value meal as the company focuses on affordable options. Turns out people don't like spending $30 in a drive-thru.

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

Cheers,

Wyatt