👀 Circle's IP-OH

Good afternoon! After nearly a decade of pleading tweets, fan petitions, and drive-thru interrogations, McDonald’s is finally giving the people what they want: the Snack Wrap. It returns July 10, just in time to rescue McDonald’s from a 3.6% sales slump and give the chicken wars a spicy new twist. Bonus: There’s a whole online shrine celebrating the wrap’s comeback like it’s Beyoncé at Coachella.

Mickey D’s isn’t just listening to fans—it’s clapping back at Chick-fil-A, Popeyes, and anyone else flexing chicken cred. This time the Snack Wrap comes loaded with McCrispy strips and attitude, in spicy or ranch. And just to keep things extra petty, Popeyes dropped its own wrap this week. Let the tortilla games begin.

MARKETS

• Stocks gave up early gains after Trump reignited his feud with Elon Musk, calling him “CRAZY” and threatening to pull federal contracts. Tesla plunged 14%, erasing its trillion-dollar status and dragging the S&P 500 and Nasdaq down with it.

• A cheerful Trump-Xi phone call briefly lifted markets, but rising jobless claims and Musk drama flipped sentiment. Investors are now focused on Friday’s jobs report for clues on the economy’s next move.

STOCKS
Winners & Losers

What’s up 📈

• Planet Labs exploded 49.37% thanks to the satellite imagery stock beating Wall Street forecasts, posting its first quarter of positive cash flow and record revenue. ($PL)

• MongoDB soared 12.84% after the software company crushed analyst estimates last quarter and projected better-than-expected earnings next quarter. ($MDB)

• Land’s End climbed 13.02% after the clothing company missed revenue forecasts but beat on profits and said tariffs won’t hurt its bottom line. ($LE)

• Scott’s Miracle-Gro rose 10.9% after the fertilizer titan reiterated its strong full-year guidance. ($SMG)

• Dollar Tree rebounded 9.08% after JPMorgan upgraded the stock to overweight, following a steep drop the prior day. ($DLTR)

• Arlo Technologies jumped 11.03% after announcing it surpassed $300 million in annual recurring revenue earlier than expected. ($ARLO)

• Five Below gained 5.59% on a strong earnings beat and optimistic forward guidance. ($FIVE)

What’s down 📉

• ChargePoint Holdings plummeted 22.49% after posting disappointing quarterly results. ($CHPT)

• PVH Corp. sank 17.96% despite beating last quarter’s estimates, due to slashing its second-quarter outlook. ($PVH)

• Brown-Forman dropped 17.92% on weak earnings and guidance for the whiskey maker. ($BF.B)

• Ciena fell 12.92% after delivering a much weaker-than-expected earnings report. ($CIEN)

• Tesla declined 14.26% following escalating tensions between Elon Musk and President Trump. ($TSLA)

• Winnebago Industries lost 5.99% after its guidance fell short of expectations, citing cautious consumer sentiment. ($WGO)

IPO
Circle Doubles in Wild First Day of Trading for Stablecoin Firm

Circle, the stablecoin firm behind USDC, just made the biggest splash on Wall Street since meme stocks ruled the timeline. Shares debuted at $69 and rocketed up to $83.23 by the close—good for a 168% gain on its first trading day. At one point, the stock surged 230%, pausing multiple times for volatility. So much for stable.

The Trump administration’s full-throated support of crypto didn’t hurt. With the White House openly pushing a “bitcoin superpower” agenda and legislation for stablecoin regulation moving through Congress, Circle couldn’t have picked a better time to go public.

Crypto FOMO Hits the NYSE

Circle raised $1.1 billion in its upsized IPO, giving it a market value of $18.5 billion. Toss in options and RSUs, and you’re looking at a $22 billion fully diluted valuation. USDC (the company’s stablecoin) has about $61 billion in circulation, making it the world’s #2 stablecoin behind Tether’s $154 billion USDT.

And this wasn’t some sleepy debut. Demand was so strong the deal was upsized twice, and orders outpaced available shares by 25x. Backers like BlackRock and Cathie Wood’s ARK jumped in, signaling serious institutional confidence in Circle’s crypto chops.

IPO Winter Thawed?

Circle’s debut is the biggest day-one IPO pop since 2021, and it’s breathing life back into a sluggish listing environment. After Trump’s trade war froze the IPO pipeline, a few firms like CoreWeave and eToro tested the waters—and succeeded. Now Chime, Klarna, and StubHub are prepping for their own public entrances.

Year-to-date, companies that went public in 2025 are up 15% on average—crushing the S&P 500’s <1% gain. CRCL is now the poster child of that comeback.

Big Picture: With crypto sentiment warming and DC laying down the regulatory red carpet, Circle’s blockbuster debut could mark a turning point—not just for stablecoins, but for the entire IPO market. Just don’t expect the “stable” in stablecoin to apply to its share price.

NEWS
Market Movements

• 📉 Trump Trades Slide on Political Risk: Stocks tied to Trump—including Palantir, Trump Media, Geo Group, and Bitcoin—slumped as investors reassessed political exposure amid Trump’s public split with Musk. ($PLTR, $DJT, $GEO, $BTC)

• 📉 Broadcom Falls After Modest Beat: Broadcom slightly beat Q2 estimates but underwhelmed investors after a massive AI-fueled rally. Shares dropped up to 4.5% post-earnings despite strong AI guidance and a record $4.97B profit. ($AVGO)

• 👚 Lululemon Slashes Guidance, Shares Plunge: Lululemon beat Q1 expectations but cut its full-year outlook due to macro headwinds and tariff concerns. The stock fell 23% as the company plans modest price hikes and grapples with slowing U.S. growth. ($LULU)

• 🚕 Uber Drivers Now Training Its AI: Uber drivers can now earn extra by helping train the company’s AI systems, including labeling and grading responses—even as Uber expands its robotaxi partnerships that may one day replace them. ($UBER, $GOOGL)

• 📈 Robinhood Could Join S&P 500: BofA analysts say Robinhood is a “prime candidate” for S&P 500 inclusion, which could drive major buying activity from index funds. Shares are up nearly 50% in the past month. ($HOOD)

• 🏗 Nvidia-Backed CoreWeave Buys Into Applied Digital: CoreWeave revealed a 5.5% stake in Applied Digital, boosting the latter’s stock. Nvidia holds stakes in both companies, deepening its dominance in AI infrastructure. ($CRWV, $APLD, $NVDA)

• 🤖 Amazon Testing Doorstep Delivery Robots: Amazon is trialing humanoid robots to ride in Rivian vans and deliver packages directly to customers’ doors. The project uses the DeepSeek-VL2 LLM and represents a leap beyond warehouse automation. ($AMZN, $RIVN)

• 🏪 Five Below Pops on Earnings Beat, Uber Deal: Five Below jumped 10% after reporting a 20% revenue spike and announcing a new Uber Eats partnership to deliver from 1,500 stores. Shares are now up nearly 30% YTD. ($FIVE, $UBER)

• 🧻 Kimberly-Clark Nears $3.5B Kleenex Sale: Kimberly-Clark is close to selling its international tissue business to Brazil’s Suzano as it refocuses on higher-margin products. The North American Kleenex unit stays. ($KMB)

• 📲 Temu and Shein See U.S. Usage Drop: U.S. user numbers fell 52% for Temu and 25% for Shein in May amid tariff pressure and a closed trade loophole, prompting both to pivot toward other global markets. ($PDD)

• 🛡 Hackers Breach Salesforce Systems: Hackers impersonated IT staff to access Salesforce data at 20+ U.S. and European firms, prompting Google to sound the alarm over phishing-driven ransom attacks. ($GOOGL, $CRM)

• 🇺🇸 Wise Shifts Listing to U.S.: U.K. money transfer firm Wise will move its primary listing to the U.S. while keeping a secondary London listing, sending shares up 11%. ($LON:WISE)

POLITICAL
Tesla falls sharply after Musk and Trump feud gets nasty

Tesla just lost more money in a day than most companies are worth. Shares tanked 14% on Thursday, wiping out $152 billion in market value, after President Trump threatened to yank government contracts from Elon Musk’s companies. That drop pushed Tesla below the $1 trillion mark—settling at $916 billion—and marked its single biggest market cap loss… ever.

From “Big Beautiful Bill” to Big Ugly Fallout

This all started when Elon Musk called Trump’s tax-and-spending plan a “disgusting abomination”—not exactly the language you’d use for your old boss’s pride and joy. From there, the bromance unraveled fast. Trump clapped back by threatening Musk’s government cash flow, claiming Elon was “wearing thin” and had gone “CRAZY.” Musk responded in real-time on X with a dismissive “Whatever,” because sometimes you just have to quote Avril Lavigne when your net worth takes a nine-figure hit.

Then Came the Fireworks

Musk didn’t stop at snark. He claimed Trump would've lost the election without his help, floated impeachment, and even dropped an Epstein files accusation like it was just another Tuesday. Trump, in full counterpuncher mode, threatened to cancel every federal contract tied to Musk’s empire—SpaceX, Tesla, you name it—which have collectively brought in $22.5 billion since 2000.

The feud sent Tesla’s stock into freefall, down 18% on the week and nearly 30% for the year. It’s a brutal reversal after a surprise 22% rally in May. Analysts say the stock could face more pressure if federal EV credits are rolled back, as proposed in Trump’s “big beautiful bill”—potentially wiping $1.2B from Tesla’s bottom line.

And while Tesla still hasn’t launched its long-promised robotaxi service in Austin, competitors like Waymo are already giving rides and racking up partnerships.

Big Picture: Just weeks ago, Musk was getting a golden key to the White House. Now, he's torching the “big beautiful bill” as a fiscal dumpster fire, while Trump is threatening to torch his federal contracts. Whether this ends in reconciliation or regulatory war, one thing’s clear: when billionaires brawl, markets bruise—and nobody’s walking away clean.

Calendar
On The Horizon

Next Week

All eyes are on Friday’s jobs report—the final piece in a week packed with labor market signals. It’s the one that actually moves markets, especially after April’s surprise hiring spike left economists red-faced. This time, expectations are far lower: around 125,000 new jobs, with unemployment ticking up to 4.3% as companies navigate tariff turbulence. A miss in either direction could send stocks spinning to close out the week.

NEWS
The Daily Rundown

• 🏦 Wells Fargo Escapes Fed Restrictions: The Federal Reserve lifted a 2018 asset cap on Wells Fargo that was imposed after its fake accounts scandal. The cap, which cost the bank an estimated $39 billion in lost growth, had frozen its size at $1.95T. CEO Charlie Scharf, who took over in 2019, has now been cleared to scale the business and catch up to rivals like JPMorgan.

• 🧠 Biden Autopen Scandal Spurs Federal Probe: President Trump ordered an investigation into whether Biden aides concealed his cognitive decline by using an autopen to sign documents. The probe will assess the legality of executive actions taken and whether aides misled the public on Biden’s mental fitness.

• 💸 Warner Bros. Shareholders Reject CEO Pay: Shareholders voted against CEO David Zaslav’s $51.9 million compensation in a non-binding Say-on-Pay vote. The company acknowledged the result and pledged to engage more with investors amid growing scrutiny over executive pay.

• 📚 Columbia Found in Violation of Anti-Discrimination Law: The U.S. Department of Education ruled that Columbia University failed to protect Jewish students from harassment during pro-Palestinian protests, violating federal law. The finding could impact Columbia’s accreditation and access to federal student aid, as investigators cited the university’s “deliberate indifference” to antisemitism.

• 🎓 Trump Bars New Foreign Students at Harvard: President Trump signed an executive order banning most new international students from enrolling at Harvard, citing national security and the school’s alleged inaction on antisemitism. The order also allows for existing student visa reviews and possible revocations.

• 📞 Putin Vows Response to Ukraine Strike: After a phone call with President Trump, Russian President Vladimir Putin reportedly pledged retaliation for Ukraine’s drone strike on Russian bombers. Trump described the hour-long call as productive but said peace talks remain elusive.

• ⚖️ Tom Girardi Sentenced to 7+ Years for Embezzlement: Famed attorney Tom Girardi, known for the “Erin Brockovich” case and his marriage to Erika Jayne, was sentenced to over seven years for stealing more than $15 million from clients. He must also pay $2.3 million in restitution and a $35,000 fine.

• 🔋 Automakers Grapple with Rare Earth Shortages: U.S. carmakers are scrambling after China halted exports of key EV magnets. Without these components, automakers face delays, costlier alternatives, or reliance on China for motor assembly—undermining the very goals of Trump’s tariffs.

• 💰 Americans Boost Retirement Contributions: Fidelity reports that Americans saved a record 14.3% of income in their 401(k)s in Q1, up from 13.5% in 2020. Despite the increase, average balances fell 3% to $127,100 due to market volatility.

• 💼 Trump’s “Big Beautiful” Tax Bill Adds $2.4T to Deficit: The CBO says Trump’s tax-and-spending bill would reduce taxes by $3.75 trillion but add $2.4 trillion to the deficit over 10 years, and leave nearly 11 million more people without health insurance. Some Senate Republicans and even Elon Musk have expressed concerns.

REFERRAL
Share Investinq 🤝 Acquire Swag

If you love reading our newsletter, don’t be selfish — share it. Odds are your favorite finance bro, trader, investor, or stock market fanatic will too.

Don’t keep all the market news to yourself — share the love using the unique link below.

We deliver you all the news for free every single day (go on… help us out ;)

And here’s the kicker: every referral you make gets you entered into a raffle to win some awesome prizes listed below. Just share the link below and you’ll be entered once they sign up.

RESOURCES
The Federal Reserve Resource

Join our small yet growing subreddit 🚀: https://www.reddit.com/r/investinq/

Wall Street Reads 💎 (Best Books):

• Stock Market Books📚
  https://drive.google.com/file/d/1NQ-vdLE1afXFcc5PwDRp1d5VSHzDly88/view?usp=sharing

• Options Trading Books📗 https://drive.google.com/file/d/1xeYL3IpjT623CJpO_Ole1Z-GuzHQQJzg/view?usp=sharing

• Business Books 📖https://drive.google.com/file/d/1VfuTqhPVB2YjDOd0N56UhF6kmZU-kLci/view?usp=sharing

Check out our latest issues 🎯: https://investinq.beehiiv.com