Good morning investors! Stocks hit new highs thanks to positive environment.. even crypto is going well. Solana hit a four-month peak, while Bitcoin traded flat and Ethereum and Cardano saw losses, highlighting varied momentum among top cryptocurrencies.
Today we cover:
More trade deals
Changes in taxes
GM announces earnings
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📊 Economy and News
U.S. Considers Eliminating Capital Gains Tax on Home Sales
President Donald Trump announced his administration is considering removing capital gains taxes on home sales.
“If the Fed lowers rates, we might not need this, but we’re looking at no tax on home sale gains,” Trump said in the Oval Office.
Currently, home sale profits are taxed, though primary residences have large deductions.
Rep. Marjorie Taylor Greene praised the move, linking it to her No Tax on Home Sales Act.
Recent tax cuts from Trump’s first term were made permanent, but critics warn this new proposal could favor the wealthy and add to the national debt.
The policy could boost the housing market by encouraging sales, potentially raising home prices, but may shift investment from stocks to real estate and face Congressional resistance due to fiscal concerns.
Brazil eases 2025 spending curbs needed to comply with fiscal rules.
Central banks told to prepare for climate shock to labour market.
The Fed may not be able to cut interest rates this year, BofA says.
Tariff movement: Trump announced that he had made the “largest Deal ever” with Japan, that involves “reciprocal” tariffs of 15% on the country’s exports to the U.S.
Trump also said that Japan will invest $550 billion into the United States, adding that the U.S. will “receive 90% of the Profits.”
Trump also said that Japan will “open their Country to Trade including Cars and Trucks, Rice and certain other Agricultural Products, and other things.“
The U.S. president added that the deal would also create “Hundreds of Thousands of Jobs.”
In addition, the US now has a deal with the Philippines. According to the President, Philippines will pay 19% tariffs in deal struck with leader Marcos.
Moreover, the US and Indonesia have signed a deal and US, China are set to discuss tariff deadline extension in Stockholm.
Controversial: Trump says Fed’s Powell will be out in 8 months, calls him a ’numbskull’. Also, Canada tariffs could add $14,000 to the cost of building a home by 2027.
How do you expect Google to react after earnings?
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📈 Stocks
S&P 500 6,309.62 (+0.064%)
DJIA 44,502.44 (+0.40%)
NASDAQ 20,892.69 (-0.39%)
BRENT CRUDE 68.59 (-0.90%)
* Prices as of Jul 23rd, 12:20 AM UTC
GM Q2 2025: Strong Earnings Amid Tariff Challenges and EV Push
General Motors (GM) reported Q2 2025 earnings that surpassed Wall Street estimates, despite a $1.1 billion tariff impact. The automaker affirmed its full-year guidance, projecting a $4-5 billion tariff hit, with its Korea business accounting for $2 billion.
GM’s core profit fell 31.6% to $3.04 billion, with adjusted EPS at $2.53 (vs. $2.44 expected) and revenue at $47.12 billion (vs. $46.28 billion expected). Shares dropped 8%.
CEO Mary Barra emphasized efforts to reduce tariff exposure through manufacturing adjustments and cost initiatives, targeting a 30% mitigation of tariff costs. Reports said tariffs took $1-billion bite out of GM earning.
GM reported 974,000 vehicle sales, including 46,300 EVs, securing the No. 2 spot in U.S. EV sales. Despite slower EV demand due to Trump’s tax bill ending EV credits, Barra called EVs the company’s “North Star.”
GM’s diversified lineup and $4 billion investment in U.S. plants aim to balance gas and electric vehicle production.
Good to know: Amazon to buy AI company Bee that makes wearable listening device.
Microsoft says Chinese hacking groups exploited SharePoint vulnerability in attacks.
More meme stocks?: Who’s next?
One day after surging 120%, Opendoor fell 40% at the open proving to be a true meme stock. Retail traders have been drawn to low-value, heavily shorted stocks, with several catching fire.
Kohl’s ($KSS) soared 37.62%, jumping from near $10 to almost $20 before retreating, despite no major news. It marked its best trading day in years, with an estimated 40% of its 112M share float held in short interest, making it a prime target for retail momentum.
Behavioral finance expert Victor Ricciardi told MarketWatch that this week’s small stock surges echo the 1990s, describing them as retail-driven microbubbles. Kohl’s brand recognition, like that of GameStop or AMC, fueled its appeal.
Other stocks followed suit. Petco ($WOOF) climbed 29.01%, revisiting its meme stock status from last year when it rose 35% post-earnings miss.
Krispy Kreme ($DNUT) gained 26.69%, with an additional 24% after hours, despite little news.
Coca Cola reports: The Coca-Cola Company (KO) reported Q2 2025 earnings with a comparable EPS of $0.87, up 4% year over year, surpassing the Zacks Consensus Estimate of $0.83, while revenues of $12.54 billion grew 1% but missed the $12.59 billion estimate.
Organic revenue rose 5%, driven by strong pricing and segment growth, despite a 1% drop in unit case volume and currency headwinds.
Management reiterated 2025 organic revenue growth of 5-6% and projects 3% comparable EPS growth.
Also, the company announced plans to roll out cane sugar Coke in US after Trump push.
💵 Personal Finance
New Student Loan Repayment Plan: Key Details on RAP
When Congress passed the "big beautiful bill" earlier this month, signed by President Trump, it introduced the Repayment Assistance Plan (RAP), a new student loan repayment option available by July 1, 2026.
This income-driven repayment plan calculates payments based on adjusted gross income, ranging from 1% to 10% of earnings, with a minimum $10 monthly payment.
Unlike other plans, RAP offers loan forgiveness after 30 years and includes benefits like a $50 monthly discount per dependent and subsidies for those not reducing their principal.
Existing borrowers keep some current plans, but new loans post-2026 will only offer RAP or standard repayment.
RAP payments also count toward Public Service Loan Forgiveness.
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👩🏽⚖️ Legal Stuff
Nothing in this newsletter is financial advice. Always do your own research and think for yourself.