Good morning investors! Yesterday was great for investors as Nvidia beat Apple and Microsoft to become the world’s first $4 trillion public company while also helping Bitcoin cross $112,000 mark for the first time.
Today we cover:
No rate cut?
Samsung tries to beat competitors with new phones
Increase child tax credit
📊 Economy and News
Trump says yes, Fed says no
The Federal Reserve’s June 17-18, 2025, minutes, released July 9, 2025, show only "a couple" of the 19 policymakers supported an interest rate cut in July, with the benchmark rate unchanged at 4.25%-4.50%.
Most expect cuts later in 2025, anticipating "temporary or modest" inflation from Trump’s proposed tariffs. Despite calls from Trump for immediate cuts, a strong jobs report has lowered July cut odds to near zero.
Investors eye September and December for potential quarter-point reductions. However, Trump wants to lower the federal benchmark interest rate by at least 3 percentage points.
"Our Fed Rate is AT LEAST 3 Points too high. “Too Late” is costing the U.S. 360 Billion Dollars a Point, PER YEAR, in refinancing costs. No Inflation, COMPANIES POURING INTO AMERICA. “The hottest Country in the World!” LOWER THE RATE!!!" Trump wrote on Truth Social.
Global hits:
Bank of England relaxes mortgage lending rules to help boost growth.
Supreme Court clears way for Trump to pursue mass federal layoffs.
Chile’s inflation rate drops to 4.1% in June.
Just in: President Donald Trump said the U.S. will slap a 50% tariff on Brazil’s imports, partly in retaliation for the ongoing prosecution of the country’s former president, Jair Bolsonaro.
Brazilian President Luiz Inacio Lula da Silva said his country would respond with reciprocity.
Also, Trump says 50% tariff on copper will begin Aug. 1.
Check this: President Trump has sent letters to seven more countries with new tarrifs: 30% on Algeria, Iraq, Libya, and Sri Lanka; 25% on Brunei and Moldova; and 20% on the Philippines.
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📈 Stocks
S&P 500 6,263.26 (+0.61%)
DJIA 44,458.30 (+0.49%)
NASDAQ 20,611.34 (+0.94%)
BRENT CRUDE 69.95 (-0.34%)
* Prices as of Jul 10th, 12:20 AM UTC
Samsung introduces new phones, Apple lags behind
Samsung announced three new foldable smartphones to strengthen its position against Chinese competitors like Honor and Oppo. The lineup includes:
Galaxy Z Fold 7: Thinner at 8.9mm closed and 4.2mm open, weighs 215g. Features a 6.5-inch cover screen, 8-inch main display, and a 200MP main camera. Priced at $2,000, launches July 25.
Galaxy Z Flip 7: Slimmer at 6.5mm when open, with a 4.1-inch cover screen and 6.9-inch main display. Includes a 50MP main camera and 4,300mAh battery. Priced at $1,100.
Galaxy Z Flip 7 FE: A cheaper model at $900, slightly thicker with an older processor.
These are powered by Google’s Gemini model and Qualcomm’s Snapdragon 8 Elite chip, offering AI-driven camera tools and outfit suggestions via Gemini Live on the Flip 7’s cover screen.
Investors are looking at this move as Samsung’s foldable market share dropped to 45% in 2024 from 54% the previous year. Chinese brands like Honor (Magic V5) and Huawei dominate in China, the largest foldable market. Samsung aims to mainstream foldables, which currently hold less than 2% of the global smartphone market, with shipments projected to reach 45.7 million by 2028, according to IDC.
Honor recently launched the slim Magic V5, while Huawei introduced a tri-fold phone in 2024, offering a larger screen akin to an iPad. Samsung has shown similar concepts but hasn’t commercialized them yet.
But Samsung isn’t the only company that’s facing competition as Apple has also lost share with 8% of foldable phone buyers in Q1 2025 switched from iPhones in the US.
Samsung’s Won-joon Choi noted higher switch rates for foldables compared to regular phones. Apple may enter the foldable market in 2026, per Bloomberg and analyst Ming-Chi Kuo, though Apple hasn’t confirmed. Choi welcomed the potential competition.
Samsung is focusing on hardware upgrades and AI to stay ahead, optimizing Google’s Gemini assistant for foldable screens. Gemini Live is available on the Z Flip 7’s cover display, and the Z Fold 7 supports multi-window AI tasks. Samsung is exploring partnerships with other AI firms, like Perplexity, and aims to integrate AI agents for tasks like booking vacations, signaling a future shift in smartphone functionality.
Look here: Hims & Hers to offer generic semaglutide in Canada as Novo Nordisk patent lapses.
Retailers raked in $7.9 billion in online sales during the first 24 hours of Prime Day, an increase of nearly 10% year over year.
OpenAI to release web browser in challenge to Google Chrome.
Exciting: Cereal maker WK Kellogg shares jump 50% on report of possible $3 billion deal with Ferrero. Elsewhee, Amazon Web Services is building equipment to cool Nvidia GPUs as AI boom accelerates. Lastly, Ray-Ban maker EssilorLuxottica jump 6% on reported Meta stake in AI push.
And, Boeing hit a 15-month high after a price hike by Susquehanna and the possibility of a new order from Thai Airways.
💵 Personal Finance
Trump’s Bill Increases Child Tax Credit to $2,200
President Trump signed the One, Big Beautiful Bill Act on July 4, 2025, raising the child tax credit from $2,000 to $2,200 per eligible child starting in 2026.
The credit, partially refundable up to $1,700 in 2025, requires children under 17 to have a Social Security number and live with the taxpayer for half the year. At least one parent must also have a Social Security number.
Eligible families earn $200,000 or less ($400,000 for joint filers), with the credit phasing out by 5% for every $1,000 above these thresholds.
The expansion, costing $817 billion over 10 years, primarily benefits middle- and high-income earners, as eligibility rules remain unchanged.
Low-income families earning under $2,500 may not qualify, and nearly 3 million children could lose access due to the parental Social Security number requirement.
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👩🏽⚖️ Legal Stuff
Nothing in this newsletter is financial advice. Always do your own research and think for yourself.