Good morning investors! Stocks are hitting new highs thanks to renewed confidence.
Today we cover:
Mortgage rate jumps
Earnings inside
EV tax credit is disappearing
If you could make one thing more affordable, what would you choose?
๐ Economy and News
Freddie Mac: 30-Year Mortgage Rate Climbs to 6.72%
Freddie Mac announced that the 30-year fixed-rate mortgage (FRM) rose to 6.72%, up from 6.67% last week, following five weeks of declines. The uptick comes after a stronger-than-expected jobs report, according to Sam Khater, Freddie Macโs Chief Economist.
"Despite affordability hurdles, lower rates are driving a surge in home purchase and refinance applications, up 25% and 56% respectively compared to last year," Khater noted.
The 15-year FRM also increased to 5.86% from 5.80% last week. Both rates remain below last yearโs levels of 6.89% (30-year) and 6.17% (15-year), per Freddie Macโs Primary Mortgage Market Survey.
Global hits:
Trump tariff impact may be seen in Q2 earnings, Capital Economics says.
AI slows down some experienced software developers.
Brazilโs monthly inflation slows, annual rate remains above target.
Donโt ignore: Goldman warned that the dollarโs safe-haven status is eroding, expecting it to turn risky. Also, the White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation. Lastly, the Fed is considering changes to what constitutes a โwell-managedโ bank
Just in: Trump announces 35% tariffs on Canada starting Aug 1.
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๐ Stocks
S&P 500 6,280.46 (+0.27%)
DJIA 44,650.64 (+0.43%)
NASDAQ 20,630.66 (+0.094%)
BRENT CRUDE 68.64 (-2.28%)
* Prices as of Jul 11th, 12:20 AM UTC
Levi Strauss Raises Guidance Amid Tariff Challenges
Levi Strauss raised its full-year guidance, expecting adjusted earnings of $1.25-$1.30 per share, up from $1.20-$1.25, surpassing analystsโ $1.23 estimate.
The company anticipates tariffs, primarily a 30% rate on China and 10% globally, will impact earnings by $25-$30 million.
Most sourcing comes from Pakistan, Bangladesh, and Indonesia, potentially facing higher duties.
Second-quarter earnings beat expectations with 22 cents per share against 13 cents expected and revenue of $1.45 billion versus $1.37 billion.
Sales rose 6% year-over-year, prompting a revised full-year revenue growth forecast of 1-2%, up from a prior decline of 1-2%. Gross margin hit a record 62.6%, driven by fewer markdowns, lower costs, and 11% growth in direct sales.
Leviโs is focusing on direct-to-consumer channels, with over half its business from e-commerce and stores, and saw 14% growth in womenโs apparel and 16% in tops. Strategic moves include selling Dockers and partnerships with Beyoncรฉ and Nike to stay relevant.
Tesla: Tesla moves to expand Robotaxi to Phoenix, following rival Waymo. Also, Grok is expected to come to Tesla cars next week.
Delta flew: Delta's stock hit a four-month high jumping about 12% after restoring its full-year guidance, with Q2 earnings of $2.01 per share beating estimates, though down from $2.36 last year. The company projects $5.25-$6.25 EPS and up to $4B in free cash flow, fueled by stronger consumer confidence, smoother trade talks, and rising travel demand. This marks a recovery from Q1โs guidance cut, which had sparked concerns over trade disruptions.
๐ Crypto
Bitcoin $115,770 (+4.33%)
Ether $2,947 (+6.43%)
Solana $155 (+3.21%)
Total market cap $3.53T (+4.23%)
* Prices as of Jul 11th, 12:20 AM UTC
Bitcoin's Remarkable Rise and Risk-Adjusted Returns

Bitcoin has jumped about 10% this week and has crossed the $118,000 mark for the first time. The worldโs largest digital currency has delivered extraordinary gains, soaring 93% in the past year, 1,096% over five years, and an astonishing 38,122% over the last decade, with a 5-year compound annual growth rate of 64%. These returns are unparalleled in traditional investing.
Yet, Bitcoin's true strength lies in its risk-adjusted performance. According to Case Bitcoin, its 5-year Sharpe ratio of 1.34 outshines gold (0.96), stocks (0.81), and Treasuries (-0.56). While retail investors often focus on potential upside, savvy investors prioritize returns relative to riskโand Bitcoin excels here like no other asset.
From a niche digital concept to a multi-trillion-dollar powerhouse, Bitcoin has captured the attention of financial titans like Larry Fink, Paul Tudor Jones, and Stanley Druckenmiller, echoing the enthusiasm of early adopters. Itโs not just an investment; itโs a defining financial story of our time.
๐ต Personal Finance
EV Tax Credit Deadline Sparks Buying Frenzy
President Trumpโs new bill ends federal EV tax creditsโup to $7,500 for new EVs and $4,000 for usedโafter Sept. 30, 2025.
This has sparked a rush to buy or lease electric vehicles before the deadline.
Tesla, the leading U.S. EV maker, is urging consumers to act fast, with messages like โYOLO your car purchase nowโ on social media.
Analysts predict a surge in EV sales this summer, with automakers offering discounts and incentives. Consumers must take possession by Sept. 30 to qualify, and experts recommend stacking federal, state, and utility subsidies, considering used EVs, or leasing to maximize savings.
If youโre unsure of EVs, hereโs a nice video:
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