Good morning investors! Stocks are hitting new highs as greed controls the market.
Fun Fact: Did you know that the S&P 500 has hit record highs more than 30 times in 2025 so far, driven by tech giants and easing geopolitical tensions? The market’s resilience is a reminder of the power of long-term investing
Today we cover: A mix of U.S. and global market updates, crypto surges, and practical personal finance tips to keep your portfolio thriving. Plus, we’ve included some fun charts to give us better context.
US GDP revised lower
US Dollar down 10% so far this year
Nvidia stock hits another all time high!
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📊 Economy and News
US-China trade deal
The U.S. just announced a deal was signed. No details yet. President Trump said a deal is likely with India next. The EU said it’s ready to sign a deal as well. Looks like the trade wars are over.
U.S. GDP Revised Down to -0.5% in Q1
The U.S. economy shrank at a 0.5% annualized rate in Q1, revised from -0.2%, due to weaker consumer spending (0.5% vs. 1.2%) and a surge in imports driven by Trump’s tariffs.
The Commerce Department’s BEA noted that imports, which reduce GDP, spiked as businesses preempted higher costs.
Domestic demand growth was cut to 1.9% from 2.5%. Despite a projected 3.4% GDP rebound in Q2, economists warn of ongoing economic softening.
Gross domestic income rose 0.2%, with corporate profits revised upward. Unemployment claims fell to 236,000, but continuing claims hit a 2021 peak at 1.974 million. Investors await the PCE price index for inflation insights.
Global hits:
Dollar drops to lowest since 2021 against euro, sterling.
Canada’s payroll employment remained relatively stable in April with a minor decrease of 6,200 jobs, following two consecutive monthly declines in February and March.
Canada home prices are expected to decline 2% as trade war hits homebuyer confidence.
Retail sales in Britain fall sharply in June.
US Home Listings Growth Slows: New U.S. home listings rose by only 2.5% year-over-year, the smallest increase in five months. Declines were notable in Tampa (-15.2%), San Antonio (-14.4%), and Orlando (-11.1%). High home prices (up 1.6% to a record $400,266 median) and mortgage rates near 7% are deterring sellers and buyers. Pending sales dropped 2.3%, but early demand is up 6%, per Redfin’s Homebuyer Demand Index. Mortgage applications fell slightly (-0.4%) but rose 12% annually.
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📈 Stocks
S&P 500 6,141 (+0.80%)
DJIA 43,386 (+0.94%)
NASDAQ 20,167 (+0.97%)
BRENT CRUDE $67.75 (+0.1%)
* Prices as of June 26th, 5:20 PM EDT
Nike beats earnings - $0.14 EPS vs $0.132 expected (a 6% surprise) and revenue beats at $11.1B vs $10.73B expected (3.44% surprise).
Nike’s 5 year chart shows they’re struggling! Down 33% since 5 years ago and nothing but down since the end of 2021. Yikes!
NIKE - I can’t bear to look at this chart
NVIDIA Reclaims Most Valuable Company Title: NVIDIA’s shares surged 4.3%, pushing its market cap to $3.75 trillion and reclaiming the title of the world’s most valuable company. Its AI-driven growth continues to dominate market headlines.
Compare NVDA chart with Nike. Up 1400% in the past 2 years.
It matters which stocks you buy and which narratives you follow.
Nvidia the past 5 years - up 1400%
Point of reference: In last week's episode of the All In Pod, the 4 famous high net worth investor hosts picked Tesla, NVIDIA, and Google (Alphabet) as key contenders in the AI and technology space and their top stock picks. Here’s a link to the discussion.
Apple changes: Apple updated its App Store policies in Europe to comply with the EU's Digital Markets Act, aiming to avoid a €500 million ($585 million) fine. The changes are minor, and the European Commission is reviewing them for compliance.
Also, Apple is set to propose making it easier for third-party developers to send customers outside of its App Store to make software purchases.
Good to know: Private investment firms of wealthy families are investing more in alternatives. Elsewhere, crypto exchange Kraken debuts peer-to-peer payments app Krak. Lastly, Chinese smartphone company Xiaomi revealed its luxury YU7 SUV that will cost less than Tesla’s Model Y (remember Tesla is much more than just a car company!).
What do you think of the charts?
🔐 Crypto
Bitcoin $107,435 (-0.2%)
Ether $2,425 (-0.6%)
Solana $141.71 (-2.0%)
Total market cap $3.4 T (-2.6%)
* Prices as of June 26th, 5:20 PM EDT
Coinbase Stock Hits 52-Week High: Coinbase’s stock surged over 40% since the Senate passed the GENIUS Act, which establishes a federal framework for stablecoins. Analysts call Coinbase the “one-stop Amazon” of crypto services.
Invesco Bids for Solana ETF: Invesco became the ninth firm vying for a spot Solana ETF, with a 90% chance of approval by next month, signaling growing institutional interest.
👀 Trajan’s note: Solana does ~80% of all crypto transactions. They are dominating all crypto yet the price of Solana remains depressed?! Sometimes markets aren't rational. That made change with ETFs.
MicroStrategy Eyes S&P 500 Inclusion: MicroStrategy, holding 592,000 BTC, has a 91% chance of joining the S&P 500 by Q2’s end, provided Bitcoin stays above $95,240 through June 30. This could further legitimize crypto in mainstream finance.
This is the MSTR chart for the past 5 years. Up 3,231%!
Microstrategy the past 5 years
💵 Personal Finance
Is war a good time to invest? - Part II
We talked about investing in war in yesterday’s issue, let’s continue the topic:
Geographic Exposure: Consider the geographic exposure of your investments. If you have significant exposure to regions directly impacted by the conflict, it may be prudent to assess the potential risks and take appropriate actions to protect your portfolio. For example, big Israeli firms like Teva Pharmaceutical Industries and Bank Leumi might suffer due to the current situation but firms with no presence in Israel and no links to the country will typically not have much of an impact. For example, look at McDonald’s which is currently offering free meals in Israel, which has resulted in a backlash in some Muslim-majority countries. This backlash could impact the company’s bottomline as it might result in reduced sales.
Safe Haven Assets: During periods of geopolitical uncertainty, investors often seek safe haven assets such as U.S. Treasuries, gold, or cash. These assets tend to be less volatile and may provide a degree of protection in turbulent times. Hence, we’d suggest that you consider investing in these assets. Precious metals, for example, have proven to do very well in such situations.
Psychological Factors: Be aware of emotional responses to geopolitical events. Fear and panic can lead to impulsive decisions that may not align with your long-term financial goals. Having a well-thought-out investment plan can help you stay disciplined. Also, it might be a good idea to get in touch with a professional to help you make the right call.
Monitoring and Adaptation: Continuously monitor your investments and the evolving geopolitical situation. Be prepared to adapt your investment strategy as circumstances change.
💰 Be a Better Investor
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👩🏽⚖️ Legal Stuff
Nothing in this newsletter is financial advice. Always do your own research and think for yourself.