📞 Apple fails to impress

and US-China start talking

Good morning investors! Stocks and crypto jumped together with investors gaining confidence back and BTC hitting the $110,000 mark once again.

Today we cover:

  • US-China talks resume

  • What’s new coming to Apple

  • Avoiding investment scams

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📊 Economy and News 

US-China Trade Talks Resume in London Amid Tariff Tensions

US and Chinese officials, including Commerce Secretary Howard Lutnick and Vice Premier He Lifeng, met in London to address the ongoing trade war threatening global growth.

Key issues include Chinese rare earth exports, vital for technology, and US restrictions on semiconductors and AI-related tech.

Following a "very positive" call between Trump and Xi Jinping, both sides aim to ease trade barriers, though disputes over tariff breaches persist.

A temporary truce in May reduced US tariffs to 30% and Chinese tariffs to 10%, but mutual accusations of non-compliance remain. Economists warn that escalating trade barriers could further dampen global growth, projected at 2.9% by the OECD.

The talks are set to continue on Tuesday morning. Investors seem to be excited. Shares of several semiconductor companies rose on Monday. Qualcomm jumped more than 4% after the chipmaker announced it will acquire semiconductor firm Alphawave for $2.4 billion. Shares of Advanced Micro Devices added 4.8% and Texas Instruments rose 3.5%, while Nvidia shares ticked higher. Alibaba gained 1.8%.

Global hits:

US economy: Citi pushes back July Fed rate-cut bets, flags potential labor market loosening. Also, less than 30% of CEOs see either a mild or severe recession taking place over the next six months. That’s well below the more than 60% who said the same in April as tariffs put businesses on high alert.

About vaccines: FDA approves Merck’s RSV shot for infants, ramping up competition with Sanofi and AstraZeneca. On the other hand, RFK Jr. removes all members of CDC panel advising U.S. on vaccines. Lastly, Pfizer CEO Albert Bourla said no drug pricing commitments were made in Trump administration talks, despite discussing most-favored-nation pricing.

Just in: China’s exports to the U.S. clock their sharpest drop in more than 5 years — down over 34% in May. Elsewhere, consumers’ year-ahead expectations for inflation tumbled in May by 0.4 percentage points to 3.2%. Lastly, Microsoft launches the ROG Xbox Ally with ASUS, a handheld gaming device with a full-screen Xbox experience, cloud gaming, and optimized Windows 11 interface..

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📈 Stocks

S&P 500 6,005.88 (+0.092%)
DJIA 42,761.76 (-0.0026%)
NASDAQ 19,591.24 (+0.31%)
BRENT CRUDE 67.04 (+0.86%)
* Prices as of Jun 10th, 12:20 AM UTC

Apple’s WWDC25 Failed to Impress – All that was Announced

Apple’s WWDC25 keynote introduced a sleek overhaul with the “Liquid Glass” UI, transforming iOS 26, macOS Tahoe 26, and other platforms with translucent, dynamic visuals inspired by Vision Pro. The crowd was underwhelmed by the lack of groundbreaking AI leaps, but highlights included:

  • Liquid Glass: A glossy, adaptive redesign for iOS, iPadOS, watchOS, and tvOS, enhancing app icons and widgets.

  • macOS Tahoe: Features a transparent menu bar, customizable folders, and iPhone app integration like Phone and Live Activities.

  • More Productivity: Upgraded Mac’s Spotlight search enabling users to perform tasks like sending emails directly from the home screen. The iPad is also gaining enhanced window management, with resizable, persistent windows and a tile-like layout, making it a more viable laptop alternative.

  • ChatGPT in Image Playground: Enhanced AI image styling, with privacy-first processing.

  • Better Communication: Introducing features like a separate folder for unknown senders in Messages and call screening that identifies callers’ names and reasons before connecting. Additionally, the Phone app will include a hold assist feature to manage call queues without hold music, while Messages will offer colorful backgrounds and polls to enhance group chats, rivaling WhatsApp.

  • Live Translation: Real-time translation for calls, FaceTime, and Messages, supporting select languages.

  • Games App: A new hub for gaming with social features and Metal 4 upgrades.

  • Apple Music & TV: Lyric translation, Automix, and karaoke mode with iPhone mic support.

AI Updates: There were some AI updates to Apple’s Visual Intelligence that now identifies objects in any app, including social media, and supports in-image searches or ChatGPT queries for details and purchasing options, expanding last year’s camera-based object recognition.

Also, Apple is opening up its on-device AI model to third-party app developers. That will mean iOS users could see more AI-enabled features on apps like Kahoot or AllTrails.

In addition, Apple Maps will now remember users’ preferred routes and a new “Workout Buddy” for the Apple Watch will analyze users’ health and fitness data to provide personalized information and motivation while they’re exercising.

Sadly, we didn’t hear anything on the promised ‘AI-enhanced Siri’.

Available for testing now, full releases hit this fall. The redesign sparked mixed reactions—some praised the fresh look, while others called it a “gimmick” with little AI innovation. The stock fell -1.21% to close the day as the presentation failed to impress critics.

Surprising: OpenAI hits $10 billion in annual recurring revenue fueled by ChatGPT growth. Elsewhere, Topgolf Callaway stock jumps nearly 15% after director scoops up more than $2 million worth of shares. Lastly, Disney to pay Comcast $438.7 million to take full control of Hulu, ending lengthy valuation process.

Good to know: Warner Bros. Discovery will split into two companies by mid-2026: Streaming & Studios, led by CEO David Zaslav, including HBO Max and movie properties, and Global Networks, led by CFO Gunnar Wiedenfels, including CNN, TNT Sports, and Discovery.

Waymo halted its downtown LA self-driving car service after protesters set five vehicles on fire and vandalized local businesses during anti-ICE demonstrations. The situation in the city is not good but that isn’t hampering investor confidence.

Not that easy: Robinhood (-1.98%) and AppLovin (-8.21%) shares dropped after neither was added to the S&P 500 during the June rebalancing, despite high expectations from investors. The S&P Global site crashed briefly due to heavy traffic, but no new stocks, including speculated additions like Interactive Brokers and Carvana, were included. This is also an opportunity as these names are expected to grow once they get added.

💵 Personal Finance

Your Guide to Avoiding Investment Scams

In 2024, investment scams cost consumers $5.7 billion, a 24% jump from 2023, outpacing all other fraud types, per the Federal Trade Commission. With 79% of reported victims losing an average of $9,000, and unreported cases likely inflating the total, these schemes are a growing threat.

How Investment Scams Work

Scammers promise big returns on trendy opportunities, often using tactics like "pig-butchering"—building trust through unsolicited messages via text messages, social media, or dating apps before pitching fake investments, especially in cryptocurrency. Criminals vanish with the money once invested. AI tools like deepfakes enhance their deception, while Southeast Asian crime hubs in Cambodia, Laos, and Myanmar fuel global operations, often with trafficked workers. Cryptocurrency aids these frauds by enabling fast, hard-to-trace fund transfers.

Red Flags and Protection Tips

To reduce your risk, watch for these warning signs:

  • Urgency: High-pressure tactics push you to act fast, claiming limited-time offers or threats like legal action or data loss.

  • Unusual Payments: Requests for crypto, wire transfers, payment apps, or gift cards signal trouble.

  • Isolation: Scammers discourage sharing details with others, using intimidation to silence you.

Stay cautious—there’s no foolproof shield, but recognizing these patterns can help you steer clear of costly traps.

Here’s an interesting video on the topic:

💰 Be a Better Investor

“Nothing awakens the conscience like a lot of money.”

P. Sainath

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👩🏽‍⚖️ Legal Stuff
Nothing in this newsletter is financial advice. Always do your own research and think for yourself.