Good morning investors! Stocks were mixed yesterday despite growing tension in the Middle East that even forced many airlines to cancel flights.
Today we cover:
Oil prices drop
Hims & Hers falls
Changes to credit score
Is this the end of the Iran-Israel war?
📊 Economy and News
Oil prices drop as Iran retaliation fears die down
Oil prices dropped sharply after Iran launched missiles at the U.S. Al-Udeid Air Base in Qatar, with no casualties reported. Brent and WTI crude each fell over 7%, easing fears of a wider Middle East conflict.
Key Points:
Iran retaliated for U.S. strikes on its nuclear sites but appeared to avoid escalation.
The lack of casualties and intercepted missiles gave investors hope for de-escalation.
Trump credited Iran for “early notice” and urged peace talks, saying Israel should follow suit.
Fears of a blockade of the Strait of Hormuz remain, but Iran hasn’t acted on it yet despite Iran’s parliament backing the move.
U.S. and allies warned Tehran against closing the vital oil route, which carries 20% of global crude.
Markets are watching closely, but for now, the energy sector has avoided its worst-case scenario.
Just in: Israel and Iran have agreed to a temporary ceasefire that Trump says will turn into a permanent option.
Global hits:
India’s business activity surges in June on strong demand, record export orders, PMI shows.
Britain’s industrial strategy cuts green levy to lower energy bills.
Singapore’s annual core inflation rate 0.6% in May, matching poll forecast.
Housing market: There were 1.54 million housing units available at the end of May, an increase of over 20% from May of last year.
The median price of an existing home sold in <ay was $422,800, up 1.3% year over year.
Homes are taking longer to sell at 27 days versus 24 a year ago.
Shocking: House of Representatives has banned WhatsApp Messenger from all official devices, citing poor encryption, cybersecurity risks, and user data transparency concerns. Elsewhere, Super Micro fell -7% after announcing plans to raise $2 billion through convertible notes set to mature in 2030.
Sponsored by Percent
BlackRock now recommends up to 19% allocation to alternatives–including private credit - as market volatility threatens traditional portfolios.
On Percent, accredited investors access this rapidly growing asset class with average net returns of 14.9% in 2024 - significantly outperforming major indices.
Private credit's lower correlation to public markets has made it a cornerstone of institutional portfolios during uncertain times.
Institutional Strategy: Follow BlackRock's 19% alternatives recommendation
Strong Performance: 14.9% average net returns in 2024
Portfolio Stabilizer: Lower correlation to market swings
Accessible Entry: Start with just $500
Modernize your portfolio with private credit investments that thousands already trust.
📈 Stocks
S&P 500 6,025.17 (+0.96%)
DJIA 42,581.78 (+0.89%)
NASDAQ 19,630.98 (+0.94%)
BRENT CRUDE 71.58 (-7.14%)
* Prices as of Jun 24th, 12:20 AM UTC
Hims & Hers Stock Drops Amid Novo Nordisk Dispute
Hims & Hers plummeted 34.63% after Novo Nordisk (-5.49%) ended their partnership, accusing Hims of illegally selling compounded semaglutide (Wegovy’s active ingredient) post-FDA allowance expiration in April 2025 and misleading marketing.
Hims CEO Andrew Dudum countered, alleging Novo misled the public to push Wegovy prescriptions and engaged in anticompetitive tactics. The dispute highlights tensions over patient access to affordable weight loss drugs versus regulatory compliance and brand integrity.
Good news: Major U.S. health insurers, including CVS Health, UnitedHealthcare, and Cigna, have voluntarily committed to simplifying prior authorization processes, addressing a key barrier to timely patient care. Prior authorization requires healthcare providers to secure approval from insurers before delivering certain treatments or services, often causing delays and frustration.
The reforms, effective immediately, will apply to commercial plans, select Medicare, and Medicaid plans, impacting approximately 257 million insured Americans. The changes aim to reduce approval times, streamline requirements, and enhance transparency, benefiting both patients and providers by facilitating faster access to necessary medical care.
Check this: Kroger is closing around 60 stores in the next year and a half. And, Microsoft unveiled its compact Mu language model to drive a fast, on-device AI assistant for Windows Settings, allowing users to make natural language queries with low latency on Copilot+ PCs. Lastly, Compass sues Zillow as fight over privately marketed listings heats up.
💵 Personal Finance
Buy Now, Pay Later Loans to Impact Credit Scores with New FICO Models
FICO is set to launch updated credit scoring models that will include data from Buy Now, Pay Later (BNPL) loans, a shift aimed at giving lenders greater visibility into consumer debt behavior.
Once considered “invisible” to credit bureaus, BNPL usage will now factor into the FICO Score 10 and 10T versions, potentially helping or hurting credit profiles—especially for younger borrowers without established histories.
While this move could allow responsible users to build credit, it also raises concerns about overspending and the rise of “phantom debt,” as many consumers juggle multiple short-term installment loans.
With few regulations and limited reporting from BNPL providers, rollout challenges remain.
Industry experts say adoption will be gradual, especially since most lenders still rely on older FICO models. FICO’s new approach attempts to aggregate multiple BNPL loans to avoid unfair credit penalties, but how quickly this data influences real-world lending remains uncertain.
Here’s an interesting video on the topic:
💰 Be a Better Investor
"A friendship founded on business is better than a business founded on friendship."
Think you know stocks?
Pro puts your instincts to the test with our Bull vs Bear AI stock advisor. Plus: exclusive deep dives, smarter tools, and zero fluff.
What did you think of today's newsletter?
👩🏽⚖️ Legal Stuff
Nothing in this newsletter is financial advice. Always do your own research and think for yourself.