Good morning investors! Pressure remains as investors don’t seem to be going in one direction.
Today we cover:
US-Iran continue attacks
Samsung reports
Don’t trust AI investors
📊 Economy and News
US-Iran Continue Attacks – Ceasefire Over?
The U.S. began a “series of powerful strikes” against Iran on Tuesday in retaliation for Iranian attacks on three commercial vessels transiting the Strait of Hormuz, U.S. Central Command said.
In retaliation, Iran’s Islamic Revolutionary Guard Corps attacked American military targets in Bahrain and Kuwait.
At the same time, the U.S. Treasury Department revoked a license that allowed Iran to sell its oil around the world. As a result, oil prices jumped.
Furthermore, President Donald Trump said he believes the Memorandum of Understanding with Tehran “is over,” but that negotiators can “keep talking if they want.”
Global hits:
US power demand to climb through 2027 on data centers.
World must close $4 trillion annual funding gap to reach development goals.
Canada’s trade surplus in May jumps to a four-year high as US exports surge.
Brazil auto sales slip 0.8% in June, production down 3%.
Prediction: Traders on Kalshi think the Nasdaq-100 will end 2026 above 30,000, predicting a cooler second half of the year.
Reminder: US consumers’ near-term inflation expectations rise in June.
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📈 Stocks
S&P 500 7,503.85 (-0.45%)
DJIA 52,925.15 (-0.25%)
NASDAQ 25,818.69 (-1.17%)
BRENT CRUDE 76.14 (+4.42%)
* Prices as of Jul 8th, 12:20 AM UTC
Samsung Profit Jumps 1,800% in Q2, But Shares Fall on AI Spending Concerns
Samsung Electronics reported record preliminary second-quarter results, with operating profit surging to 89.4 trillion won ($58.4 billion) — an increase of more than 1,800% from the previous year. Revenue reached 171 trillion won, more than doubling year-over-year.
Despite the strong earnings, Samsung shares dropped nearly 7%, as investors focused on rising concerns about AI infrastructure spending, cooling memory chip demand, and higher capital expenditures. The report also took down other AI names.
Analysts noted the strong results were largely expected and already priced in. Additional pressures include new labor bonus payouts, plans for major semiconductor plants in a non-traditional location, and investor rotation toward rival SK Hynix ahead of its U.S. listing.
Interesting: Rivian stock dropped 18% after the electric vehicle maker announced a capital raise, expecting to raise roughly $1.51 billion with the offering. Moreover, the company pre-released some second-quarter results and said it expected revenue to be between $1.55 billion and $1.65 billion during the period.
Meta enters AI image model race in bid to court advertisers and subscribers.
Surprising: Stellantis to sell small Fiat Topolino EV for $13,995 in U.S. In other news, Toyota to invest $3.6 billion to move Tacoma pickup truck production from Mexico to Texas. Lastly, Netflix, Disney and Alphabet’s YouTube are all interested in challenging Fox for the U.S. broadcast rights to the 2030 and 2034 World Cup.
💵 Personal Finance
Study Warns Against Relying on AI for Personal Finance Advice
A new study published in the Journal of Financial Planning found that popular AI tools often provide inconsistent, inaccurate, or demographically biased advice on personal finance matters.
Researchers tested seven widely used generative AI platforms—ChatGPT, Claude, Copilot, DeepSeek, Gemini, Meta AI, and Perplexity—with identical prompts about emergency savings, asset allocation, and retirement portfolio withdrawals. They also varied the hypothetical user's race and gender to check for bias.
Key findings:
Responses varied significantly across platforms, even on the same questions.
While many aligned with basic principles (like the 4% retirement withdrawal rule), outputs were often incomplete, misleading, or incorrect.
AI tools frequently "hallucinate" confident-sounding but wrong answers.
Recommendations sometimes shifted based on user demographics.
Experts recommend using AI only as a starting point for general information, not as a substitute for professional financial advice. AI lacks fiduciary duty and is highly sensitive to how questions are phrased.
Those looking for reliable advice can check our YouTube channel as well.
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