Good afternoon! Americans are cutting back on booze at record rates, with just 54% saying they drink — the lowest in nearly 90 years. Young adults are now less likely to drink than their parents, a reversal fueled by shifting health attitudes and rising prices. Average consumption has dropped to 2.8 drinks per week, and exports are taking a hit too, with Canadian tariffs slashing U.S. spirits and wine sales abroad.

The vice market is feeling the ripple effect. Beer’s dominance has eroded to just 34% popularity, tied with wine, while nicotine pouches are stealing the spotlight. Altria is up nearly 25% this year thanks to smokeless nicotine, while Molson Coors is down over 10%. Even Anheuser-Busch is leaning on non-alcoholic beer growth to offset nine straight quarters of sales declines. With wellness trends accelerating and costs rising, beer might be headed for the same fate cigarettes faced decades ago.

MARKETS

• The Dow inched higher Friday, even as the S&P 500 slipped 0.3% and the Nasdaq 100 and Russell 2000 fell 0.5%, snapping their recent hot streak. The week still ended in the green for all three indexes, but rising Treasury yields — fueled by hotter PPI data on Thursday and fresh consumer confidence and retail sales figures Friday — kept traders on edge.

• Healthcare led the S&P 500 sector rankings, while most other sectors took a breather. The market’s tone suggested investors were locking in gains after a strong week, digesting economic data, and bracing for the next round of macro catalysts.

Take a Swing at What’s Next in Crypto

When you’re teeing off, you square up your shot for the best drive — the same goes for your financial future.

Our $3 report includes our #1 Coin for the market right now, including a step-by-step guide on how to trade it.

Learn to manage risks, make smarter plays, and aim for better outcomes.

Access The Report Now

STOCKS
Winners & Losers

What’s up 📈

• UnitedHealth jumped 11.98% for its best day since 2008 after Berkshire Hathaway disclosed a $1.6 billion stake, joined by positions from Michael Burry and David Tepper. ($UNH)

• Intel climbed 2.93%, adding to Thursday’s 7% surge, after reports the Trump administration may take a stake to help fund its Ohio factories. ($INTC)

• Twilio rose 4.79% after S&P Dow Jones Indices announced it will join the S&P MidCap 400, replacing Amedisys. ($TWLO)

• Evolv Technologies gained 5.16% after reporting a narrower quarterly loss, ending a DOJ investigation, and receiving two analyst upgrades. ($EVLV)

• Opendoor Technologies jumped 4.28% after announcing CEO Carrie Wheeler’s departure and the start of a succession process. ($OPEN)

• Wingstop rose over 3.55% after Raymond James upgraded the stock to strong buy, citing valuation and its AI-powered Smart Kitchen systems. ($WING)

• Salesforce advanced 3.89% after Starboard Value increased its stake by nearly 50%. ($CRM)

What’s down 📉 

• Applied Materials slid 14.07% despite beating Q3 expectations, as its current-quarter outlook missed estimates. ($AMAT)

• Sandisk dropped 4.58% after reporting a steep decline in gross margins from a year ago. ($SNDK)

• Cisco Systems fell 4.47% after HSBC downgraded the stock to hold from buy, citing offsetting weakness despite AI order growth. ($CSCO)

• Flowers Foods fell over 5.37% after missing Q2 revenue and EBITDA estimates and lowering full-year earnings guidance. ($FLO)

• Roblox dropped 6.34% after Louisiana’s attorney general sued the company for allegedly enabling predators on its platform. ($RBLX)
  

STOCK
Opendoor Stock Soars After CEO Carrie Wheeler Steps Down

A leadership shake-up with retail trader approval

Opendoor Technologies shares jumped 4.28% Friday after the home-flipping platform announced CEO Carrie Wheeler’s immediate departure. Shrisha Radhakrishna, the company’s chief technology and product officer, will step in as interim president and leader while the board works with search firm Spencer Stuart to find a permanent replacement. Wheeler, who took the helm in 2022, said she approached the board mid-year about succession plans and felt now was the right time to “make room for new leadership.”

The move comes amid a remarkable meme-stock-fueled comeback. Once trading near $0.50 in June, Opendoor shares have surged more than 500% this year after Canadian hedge fund manager Eric Jackson of EMJ Capital published a bullish case for the company in July. Jackson, who has been openly critical of Wheeler, said the new CEO must push aggressively into artificial intelligence and expand Opendoor into a “truly national and international platform for real estate.”

From pandemic darling to turnaround target: Opendoor made its name in the “iBuying” boom—using data and software to buy and flip homes quickly—but rising interest rates in 2022 crushed the model’s profitability. By last year, the company was fighting off delisting concerns. The stock’s resurgence this summer has been driven less by fundamentals and more by social-media hype, echoing the retail investor frenzies that boosted GameStop and AMC.

Despite the recent rally, Wall Street remains skeptical. Analysts at KBW and Citigroup both downgraded the stock to “sell” in recent weeks, citing uncertainty over strategy. Of the 11 analysts covering Opendoor, just one has a buy rating, with the rest split evenly between hold and sell recommendations. Shares are still far below their 2021 peak of $34.59.

Board doubles down on data: Lead independent director Eric Feder said Opendoor will lean into its “trove of data and assets” as it plots its next chapter. He and other directors insist they remain confident in the company’s core strategy, even as critics push for more radical changes. In the meantime, meme stock traders are claiming victory—at least for now—as the leadership shake-up they’ve long demanded becomes reality.

NEWS
Market Movements

• 📉 US stocks end week lower but still up overall: The S&P 500 fell 0.3% Friday, while the Nasdaq 100 and Russell 2000 dropped 0.5%. Healthcare outperformed, fueled by UnitedHealth’s biggest daily gain since March 2020 after Berkshire Hathaway and David Tepper’s Appaloosa revealed large stakes. Most other sectors, including tech, industrials, and consumer discretionary, ended in the red ($SPX).

• 🛠 Ford smashes US recall record: The automaker has issued 102 safety recalls in 2025, nearly five times more than the next-highest company. That’s more than the combined recalls of Chrysler, VW, GM, Mercedes-Benz, Honda, and BMW, and surpasses GM’s 2014 record of 77. Ford has already spent $2.8 billion on warranty and service actions in the first half of the year ($F).

• 🖥 OpenAI eyes Google Chrome: CEO Sam Altman said the company would consider bidding on Chrome if regulators force Google to sell it. OpenAI is targeting a $500 billion valuation, which would dwarf its current $18 billion value but still be within range to challenge other suitors. The comments come as antitrust scrutiny of big tech intensifies ($GOOGL).

• 🤖 Bloomberg pans Meta AI app: A review described the AI as inconsistent, impersonal, and prone to hallucinations. Despite heavy investment in AI, Bloomberg says the app lacks personalization and delivers an uneven user experience. Meta launched the app earlier this year amid a rush to integrate generative AI into consumer products ($META).

• ⚠️ Roblox sinks on child exploitation lawsuit: The Louisiana attorney general sued the company, alleging it enables systemic sexual abuse of minors. The complaint follows a similar lawsuit from a Georgia mother and investigations into hundreds of related cases. Critics cite Roblox’s inadequate safety measures as creating “the perfect place for pedophiles” ($RBLX).

• ✈️ Joby completes first US airport-to-airport test flight: The eVTOL maker flew from Marina to Monterey, California, in 12 minutes, including a hold for air traffic. Despite the milestone, shares fell as investors questioned its commercial significance. Joby is 70% through the FAA certification process and plans to buy Blade Air’s helicopter ride-share unit for $125 million ($JOBY).

• 💊 Buffett and Tepper boost UnitedHealth stakes: Berkshire Hathaway disclosed a large purchase of the health insurer, while Appaloosa Management nearly doubled its holdings to 2.45 million shares. At current prices, Tepper’s stake is worth about $735 million, making it his second-largest public position. The stock jumped over 12% on the news ($UNH).

  📉 Hims falls on FTC probe report: Bloomberg reported the FTC is investigating complaints about Hims & Hers’ advertising and cancellation practices. The telehealth company, which saw sales slow after an initial surge from GLP-1 weight-loss drugs, has lost about 10% in the past week. The FTC probe adds to legal and regulatory risks for the business ($HIMS).

• 💼 OpenAI staff plan $6B share sale: Current and former employees are preparing to sell shares to investors including Thrive Capital, SoftBank, and Dragoneer. The deal would value the ChatGPT maker at $500 billion, making it one of the most valuable private companies in the world ($MSFT).

• 💵 Foreign holdings of US Treasuries hit record: Overseas investors held $9.13 trillion in US Treasuries in June, according to Bloomberg. Japan remains the largest holder, with a $12.6 billion monthly increase to $1.15 trillion. Britain and Belgium saw the biggest gains, while India and Ireland posted declines ($UST).

• 🔍 China calls US a ‘surveillance empire’: State media criticized the US for placing trackers in chip shipments. The comment comes amid escalating tech tensions between the two countries and ongoing trade and security disputes. China has increasingly framed US export controls as a form of technological espionage.

EV

Tesla Posts July EV Gain as Nio Launches Budget Firefly in Europe

Tesla just posted some rare good news for its auto business: US EV sales rose in July, helped by a broader 26.4% month-over-month jump in national EV deliveries. The gain was enough to make July the second-best month for EV sales ever, according to Cox Automotive. While Tesla still sells roughly five times more EVs than rivals like Chevrolet, Hyundai, Ford, and Honda, its July sales were still slightly lower compared with last year. That follows a rough Q2, when Tesla’s vehicle deliveries sank 16% year over year.

Much of July’s strength may have been a race against the clock — next month marks the end of the $7,500 US EV tax credit for some models, likely pulling demand forward. But that boost could come at a cost: Analysts expect steeper price cuts ahead to keep sales afloat once the incentive expires. At the same time, Tesla is set to lose a key profit driver after the US effectively ended its regulatory credit market, a change that JPMorgan estimates could wipe out over half of the company’s profits.

Nio’s Budget Firefly EV Lands in Europe

Chinese EV maker Nio’s shares jumped nearly 8% Friday after it began delivering its new low-cost Firefly hatchback in Norway and the Netherlands. The car, starting at about $27,000 in Norway and under $35,000 in the Netherlands, marks the official European debut of Nio’s sub-brand. Norway’s status outside the EU also means the Firefly dodges the bloc’s 20% tariff on Chinese EV imports — a strategic edge for the launch.

Nio isn’t stopping there. The company plans to roll Firefly into 12 more European markets by the end of next year. This expansion comes on the heels of its Onvo brand launching a budget SUV in China aimed directly at Tesla’s popular Model Y. Investors seem to like the aggressive push — bullish call option activity in Nio spiked Friday morning, surpassing yesterday’s full-day total before lunch.

Calendar
On The Horizon

Next Week

This week’s calendar is loaded with housing market check-ins. Monday brings the homebuilder confidence index, Tuesday follows with housing starts and building permits, and Thursday wraps it up with existing home sales. On Wednesday, the Fed drops minutes from its July meeting — a chance to parse the thinking of dissenters like Bowman and Waller — and Thursday’s flash PMI readings will give a global pulse check on manufacturing and services under fresh tariffs.

The main event still looms ahead: next week’s Jackson Hole Symposium. The theme, “Labor Markets in Transition,” may not sound thrilling, but markets will be tuned in for Fed Chair Jerome Powell’s Friday speech to see if he tips his hand on rate cuts.

Earnings:
Tuesday: Home Depot, Medtronic, Toll Brothers, Xpeng, and La-Z-Boy Inc.
Wednesday: Target, Lowe’s, Baidu, TJX Companies, Estee Lauder, and Analog Devices
Thursday: Walmart, Bilibili, Intuit, Zoom Video Communications, Ross Stores, and Workday
Friday: BJ’s Wholesale Club

NEWS
The Daily Rundown

• 🏘 Israel Approves Controversial West Bank Housing Plan: Israeli Finance Minister Bezalel Smotrich announced plans to build 3,000 homes in the E1 area of the West Bank. The move is intended to “bury” the possibility of a Palestinian state, according to Smotrich. Most of the international community considers building in E1 illegal under international law. The decision is expected to heighten tensions with Palestinian leaders and draw strong condemnation from global allies.

• 🏡 Airbnb Launches ‘Reserve Now, Pay Later’ in US: Airbnb will allow users in the US to book select properties without paying upfront. The feature, called “Reserve Now, Pay Later,” aims to make travel planning more flexible. It is part of Airbnb’s broader push to attract budget-conscious travelers. The company says it will evaluate expanding the program globally depending on its success.

• 🚗 Cadillac Unveils Electric Crossover Concept: Cadillac revealed a sleek new electric crossover concept vehicle. The design showcases the brand’s vision for its EV future, combining luxury styling with zero-emission technology. The model features advanced infotainment systems, fast-charging capabilities, and a focus on aerodynamics. Cadillac plans to gauge consumer interest before deciding on production timelines.

• 🏠 Mortgage Rates Dip to 10-Month Low: The average 30-year fixed mortgage rate fell to 6.58%, its lowest since October 2024. Analysts linked the drop to lower bond yields following weak hiring data in the July jobs report. Mortgage experts warned the reprieve may be short-lived, as rates have hovered near 7% for most of the year. The high-rate environment has kept housing inventory on the market longer and discouraged many buyers.

• 🏟 LA 2028 to Allow Corporate Venue Names: For the first time, Olympic venues will keep their corporate names during the Games, as the LA28 committee moves to secure extra sponsorship revenue. Companies like Comcast and Honda have already signed on, and naming rights for 19 temporary venues are also for sale. The shift breaks with the Olympic “clean venue” tradition meant to strip branding from competition sites. LA28 says the move will help cover its $7 billion budget without taxpayer funding.

• 📦 Cardboard Box Demand Falls to 9-Year Low: US shipments of corrugated cardboard boxes dropped to their lowest second-quarter level since 2015, according to industry data. Economists see the decline as a possible early warning sign of reduced consumer demand. Cardboard demand is often viewed as a recession indicator, alongside metrics like lipstick sales. A clearer read on consumer health will come with the July retail sales report.

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