Hello.
Wall Street just finished its best quarter since 2020, and somehow that's not the biggest story.
The Dow closed at another record. The S&P 500 capped a blockbuster quarter. Chip stocks just posted their best quarter ever as investors continue piling into the AI trade. If you only looked at the indexes, you'd think everything was firing on all cylinders.
Then there's Bitcoin.
The world's largest cryptocurrency just suffered its worst month in four years, dropping more than 20% in June and falling below $60,000. While stocks have quietly climbed back to all-time highs, crypto has been moving in the opposite direction, reminding investors that not every risk asset rides the same wave.
The divide doesn't stop there. New research this week found companies investing the most aggressively in AI are actually hiring more workers, not fewer. This is exactly what we’ve been predicting would happen. The lesson? AI may not be replacing jobs as much as it's rewarding businesses that know how to use it.
The second half of 2026 is officially underway, and the gap between the winners and losers is only getting wider.
Today:
📰 Market Headlines: Stocks cap their best quarter since 2020, Bitcoin tumbles, Rocket Lab makes an $8B bet
🤖 AI/Tech: Anthropic launches Claude Sonnet 5, Tesla begins Cybercab testing, AWS doubles down on AI
💼 Market Movers: BMW's $1.7B EV investment, Dish heads toward bankruptcy, Google shuts down Tenor's API
Let's get started.
This is not financial advice. Always do your own research. Past performance doesn’t guarantee future results.
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🤖 The AI Jobs Debate Just Got Messier
AI isn't replacing workers as quickly as many feared (which is what we’ve been saying! Anyone remember Abundance Theory?). According to new data from Ramp and Revelio Labs, companies investing heavily in AI are actually hiring more. Businesses spending around $30 per employee each month on AI grew headcount by 10.2%, while entry-level hiring jumped 12%. Engineering, marketing, finance, customer service, and sales all saw gains, challenging the idea that AI automatically leads to layoffs.
The catch? These are mostly fast-growing, tech-forward companies that were already positioned to scale. Researchers found that simply paying for AI tools isn't enough. The companies seeing hiring gains are the ones weaving AI into how they operate, not just experimenting with it.
The takeaway: AI may not be replacing jobs as much as it's rewarding the companies that know how to use it. The biggest competitive edge actually putting AI to work instead of just, you know… slapping it on anything and everything for no reason!
📰 Market Headlines
US stocks rose Tuesday to cap a rip-roaring second quarter that turned around Wall Street's 2026 fortunes.
The Dow edged up nearly 0.3% to post a fresh record after closing above 52,000 for the first time on Monday. The S&P 500 gained 0.8% to post its best quarter since 2020, and the Nasdaq rallied 1.5%.
Chip stocks powered the rally, with the Philadelphia Semiconductor Index posting its best quarter on record. Tech's stellar first half has been driven by a furious run-up in semiconductors, though the sector has seen increased volatility in recent weeks. ASML and other chip-tool stocks surged after Samsung and SK Hynix announced fresh investment plans.
Bitcoin posted its worst month since June 2022, shedding more than 20% in June alone and sliding below $60,000 on Tuesday. The world's largest cryptocurrency is now down 33% year-to-date compared with the S&P 500's 9% gain. One strategist at Finality Capital Partners said he wouldn't be surprised to see bitcoin drop to $40,000 or $45,000 before finding a bottom, which he expects in September or October. US-listed spot bitcoin ETFs are set for their largest monthly outflows since their January 2024 launch, with investors yanking more than $4.1 billion in June.
President Trump took in nearly $1.2 billion from his crypto businesses last year, a federal financial disclosure released Tuesday shows. World Liberty Financial brought in more than $500 million from selling governance tokens, while CIC Digital took in over $600 million from meme coin sales. Both products have plunged in value since the sales. Forbes now estimates the president's net worth at $6 billion, up from $2.3 billion in 2024.
Rocket Lab announced its largest-ever acquisition, an $8 billion deal for Iridium Communications that vaults the company into direct competition with SpaceX and Amazon in direct-to-mobile satellite services. CEO Peter Beck called it "a very typical, smart Rocket Lab deal" and said he intends to keep growing through acquisitions.
Oil prices continued to fall as flows through the Strait of Hormuz recover faster than expected. Morgan Stanley cut its forecasts amid warnings of a looming glut. Brent futures traded below $74 a barrel and WTI futures dipped below $70, with both on pace for a quarterly drop.
The dollar's relentless rise pushed the yen to a 40-year low, prompting talk of intervention by Japan. HSBC warned the greenback's rally could become "explosive" if the Fed hints it's prepared to tighten policy. A JOLTS reading on job openings came in better than expected on Tuesday at 7.6 million, though the hiring rate remained low.
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🤖 AI/Future/Tech News
Tesla started testing Cybercabs without steering wheels or pedals in Austin with a safety monitor riding as a passenger.
AWS invested $1 billion in Forward Deployed Engineering, embedding thousands of engineers inside customer facilities.
NVIDIA's BioNeMo is now baked into Claude Science, letting researchers run protein folding simulations via conversational AI.
Riverside launched newsletter tools that convert podcast recordings into email-ready content.
🚨 Trending on Reddit
Sellas Life Sciences Group (SLS) chatter spiked as the company nears completion of its Phase 3 REGAL trial. Users are speculating about a possible takeover by larger pharma companies, pointing to restructured severance packages for top executives as a signal that significant changes could be on the horizon.
Tesla (TSLA) conversation centered on personal trading strategies rather than news catalysts. Users noted success buying calls every time the stock dips into the 370s/380s range, with discussions focused on timing entries and exits.
AST SpaceMobile (ASTS) sentiment leaned bullish, with users anticipating an upcoming JLEO PR announcement. Chatter was enthusiastic, with traders predicting a significant price jump and plenty of "to the moon" energy in the comments.
Strategy (MSTR) mentions picked up following an 8% rise. Users debated trading strategies for the stock and speculated about potential market movements once larger institutional traders start making moves.
Robinhood (HOOD) chatter was mixed. Some users expressed frustration with the platform, particularly citing the GameStop controversy, while others praised its user-friendly interface and option strategy tools. Debates compared Robinhood against Fidelity and Schwab on trade fills, contract fees, and overall usability.
🤫 Insider Trading
🚚 Market Movers
BMW completed a $1.7 billion investment in its South Carolina plants, with its iX5 SUV becoming the first fully electric model made in the US starting late 2026.
Dish DBS is reportedly filing for Chapter 11 as parent EchoStar wrestles with $25 billion in debt and 177,000 subscriber losses last quarter.
MSP provider TPx filed for Chapter 11 to wipe $1.1 billion in debt. Potential bidders have until August 7 to make an offer for the 575-person company.
Patrick Industries and LCI Industries agreed to merge in an all-stock deal, combining two of the largest RV, marine, and housing component suppliers.
Cosmos Health authorized a $5 million buyback representing nearly half its market cap. Shares dropped 7% anyway.
Google is shutting down Tenor's API today, forcing X, Discord, Bluesky, and WhatsApp to migrate to alternative GIF pickers.
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What's the biggest investing story to watch during the second half of 2026?
🎤️ What you said last time
🧠 The Missing (Market) Links
Less than 40% of US households can afford a $200,000 starter home, with median incomes $7,000 short of the $62,000 needed.
The US hair brush market will hit $1.17 billion by 2033, up from $650 million, driven by professional tools and organic materials.
AI-fueled tech investment has driven half of US GDP growth since 2025, outpacing total business investment by 2x.
Mississippi leads affordability for first-time buyers at 62% of households, Rhode Island trails at 16.5%.
US tech sector productivity is growing 2.2% per quarter since 2023, versus 0.5% in the broader private sector.
North America's resin coated sand market will grow 15-20% by 2035, premium grades expanding 4-5% annually on tighter environmental standards.
California non-homeowners need $140,676 to afford a $482,000 starter home, $67,776 above median state income.
📜 Quote of the Day
The market is a pendulum that forever swings between unsustainable optimism and unjustified pessimism.
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The information provided in Stocks & Income is for informational and educational purposes only and should not be construed as financial advice, investment advice, or a recommendation to buy or sell any securities. Stocks & Income is not a registered investment advisor, broker-dealer, or licensed financial planner. Always do your own research and consult with a licensed financial advisor before making any investment decisions. We may hold positions in or receive compensation from the companies or products mentioned. Disclosures will be made where applicable. Past performance doesn’t guarantee future results.
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