Good morning investors! Happy 4th July (we know it’s tomorrow!)
Today we cover:
The new job report
Tesla falls
Trump depends
📊 Economy and News
US Job Growth Slows Sharply in June
Labor market cools as payrolls miss expectations:
Nonfarm payrolls rose just 57,000 in June (vs. 110,000 expected).
April and May gains were revised lower by 74,000 jobs.
Labor force participation rate dropped to 61.5% — the lowest in more than five years (lowest outside Covid since 1976).
Key Sector Moves:
Leisure & Hospitality: -61,000 (biggest drop since pandemic)
Professional & Business Services: +36,000
Healthcare: +22,000
Construction: +11,000
Wage growth remained moderate at +3.5% year-over-year. Markets reduced expectations for a near-term Fed rate hike.
Important: workers are dropping out — especially prime-age adults
The drop in the unemployment rate masked a concerning trend: a massive exodus from the labor force.
Prime-age participation (25–54) fell sharply to 83.3%.
Household employment dropped 507,000.
Economists point to possible effects from immigration slowdown, retirements, and weaker hiring confidence.
The labor market remains in a “low hire, low fire” state, but the declining participation rate raises concerns about underlying weakness.
Global hits:
Morocco’s trade deficit widens 20.8% in first five months.
Hungary minister threatens to shut battery factories over violations.
Ireland revises Q1 domestic growth lower to 0.3%.
European IPO activity jumps 76% in first half of 2026.
Reminder: US money market funds hit record $7.95 trillion on inflows. Elsewhere, Municipal bond funds attract $1.7 billion in weekly inflows. Lastly, mortgage rates ease to seven-week low at 6.43%.
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📈 Stocks
S&P 500 7 483,24 (+0.00014%)
DJIA 52 900,07 (+1.14%)
NASDAQ 25 832,67 (-0.81%)
BRENT CRUDE 71.51 (-0.43%)
* Prices as of Jun 3rd, 12:20 AM UTC
Tesla’s Worst Day in a Year
Tesla reported strong second-quarter results, delivering 480,126 vehicles and producing 451,758 units, easily surpassing Wall Street forecasts of around 406,000 deliveries.
The numbers reflect a 25% increase from the same period last year and a 34% rise from the first quarter. Model 3 sedans and Model Y SUVs made up 97% of total deliveries.
Despite the positive beat, Tesla shares dropped 7.49% — marking the company’s worst trading day in nearly a year. The stock has now fallen after each of the past three quarterly delivery reports as investors remain concerned about profitability pressures, intensifying competition from Chinese EV makers, and backlash against Elon Musk’s political activities.
The company continues shifting focus toward future growth areas including the Cybercab robotaxi, electric Semi trucks, and Optimus humanoid robots, while also expanding its energy storage business, which deployed a record 13.5 GWh in the quarter. Full Q2 financial results are scheduled for release on July 22.
Interesting: Amazon has deployed enough satellites to launch Leo service later this year.
Sandwich chain Jersey Mike’s files for IPO, reports 50% same-store sales growth in recent years.
Autonomous drone startup Quantum Systems raises $1.2 billion as investors pile into defense.
Surprising: Nvidia offers start-up customers chance to swap compute power for revenue share. And, reports say that OpenAI is ‘in early talks to give 5% stake to US government’.
💵 Personal Finance
Trump Boosts Family Wealth Initiatives While Defending Personal Finances and Market Moves
President Donald Trump continues to expand wealth-building opportunities for American families as Trump Accounts (also known as 530A accounts) officially launch on July 4.
Parents or guardians of children under 18, particularly babies born between 2025 and 2028, will receive a $1,000 initial federal deposit. A growing list of major employers — including Goldman Sachs, Morgan Stanley, JPMorgan Chase, BlackRock, Intel, Micron, and others — have pledged to match the government contribution for their employees’ children. Additional private support includes $250 contributions from Michael Dell for lower-income ZIP codes, Ray Dalio in Connecticut, Brad Gerstner in Indiana, and targeted deposits from Micron in several states.
But, this isn’t the only thing Trump is in the news for. The President has been under fire for ‘wealth’ he has generated in this tenure – a topic he discussed in a recent CNBC interview where he defended his family’s business dealings and substantial 2025 earnings, which topped $2.24 billion according to his financial disclosure.
He expressed sympathy for his children, noting that nearly any business activity they pursue could be seen as a conflict of interest due to the broad impact of presidential policy. Trump stated that his son Eric manages his investments through large financial institutions in semi-blind trusts and emphasized that he forgoes his presidential salary.
The disclosure also revealed Trump made 327 stock purchases on April 8, 2025 — one of his busiest trading days — during a sharp market sell-off triggered by his “liberation day” tariff announcements. His buys focused on mega-cap tech giants including Apple, Alphabet, Amazon, Microsoft, and Nvidia. The next day, Trump posted on Truth Social that it was “a GREAT TIME TO BUY!!!” before announcing a partial tariff rollback, sparking a strong market rebound. The White House maintains that all of Trump’s assets are managed by independent third parties with no conflicts of interest.
💰 Be a Better Investor
“People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.”
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