πŸŒ™ Tesla moons ahead of production numbers

πŸ‡ΊπŸ‡Έ And American presidents are now (mostly) immune from prosecution

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πŸ“° Market Headlines

  • Tesla sparked a tech rally as Wall Street kicked off Q3.

    • Nasdaq outpaced other indexes with a 0.8% gain, while the S&P 500 rose 0.3% and the Dow added 0.1%.

    • Tesla stock surged about 6% ahead of its quarterly delivery results, expected to be released on Tuesday.

  • The Supreme Court ruled that former President Trump had "presumptive immunity" for official acts as president.

  • A federal judge halted President Biden's temporary moratorium on new licenses for US liquefied natural gas exports following a lawsuit filed by 16 states.

  • Boeing agreed to buy back Spirit AeroSystems for $4.7 billion, with Airbus taking on some of Spirit's operations.

πŸ•ΆοΈ Market Vibes

🎰 Market Forecasts and Futures

Forecasts via ​Kalshi​, the prediction market.

😱 Fear and Greed Index

🎀 What you said last time

Let’s kick the tires and light the fires.

πŸ“ˆ Trends you need to know

Stefan found this one…what do you think it means?

🧠 What do you think?

Should the American president have immunity for things s/he does while in office?

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πŸ“Š Stocks

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

Winners and losers

Earnings, upgrades, and acquisitions

  • BlackRock agreed to buy UK data firm Preqin for $3.2 billion in cash.

  • Sony acquired Amber Japan and plans to launch a crypto exchange following the acquisition.

Market movers

  • Nvidia is set to face antitrust charges in France for alleged anti-competitive practices.

  • Google announced disclosure requirements for election ads using digitally altered content.

  • Vaire Computing raised $4.5 million for "reversible computing" chips that could drastically reduce energy consumption.

  • Robinhood acquired the AI-powered research platform Pluto Capital to enhance its app with real-time optimization tools.

Ideas, trends, and analysis

  • Gen Z is more willing to commit digital fraud, with 33% knowing someone involved in payment fraud. [Ed: Another example Gen Z figures the deck is stacked against them]

  • Gold prices are rallying to all-time highs in 2024, defying traditional market correlations with the US dollar.

  • US manufacturing contracted for a third month in June, with input prices dropping to a six-month low.

Recommended Newsletter

🌍 Global Perspectives

  • πŸ‡²πŸ‡²πŸ‡―πŸ‡΅ Myanmar arrested 11 people, including a Japanese executive, for inflating rice prices during economic turmoil.

  • πŸ‡ͺπŸ‡Έ Barcelona's plan to raise capital by floating 'Barca Media' on NASDAQ officially ended after investors pulled out.

  • πŸ‡·πŸ‡ΊπŸ‡¨πŸ‡³ Russia is poised to surpass Turkmenistan as China's largest natural gas supplier once new pipelines are completed.

πŸ“Š Crypto

  • Blockchain security startup Mamori raised $5 million to use machine learning for detecting and fixing smart contract exploits.

  • Abra launched a treasury service for corporates to hold crypto as a reserve asset.

  • Ethereum suffered its worst outflows in two years due to spot ETF delays, totaling $119 million.

  • Circle became the first stablecoin issuer to secure regulatory approval under the EU's MiCA framework.

🧠 Errata

πŸ“Ί What to Watch Today

That was close.

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

Cheers,

Wyatt

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