Good morning investors! This short week may have some big surprises as US-Iran finally agree on a deal.
Today we cover:
What to expect this week
US-Iran war
Elon Musk a trillionaire
📊 Economy and News
What to Expect this Week
Here’s what to keep an eye on this week:
Monday, June 16
Earnings: La-Z-Boy (LZB) reports Q4 results after the close, with a conference call Wednesday at 8:30 a.m. ET. Watch for impacts from high logistics/shipping costs (following MillerKnoll’s cautious outlook).
Tuesday, June 17
Earnings: CarMax (KMX) reports Q1 results before the open, conference call at 8:00 a.m. ET. New CEO Keith Barr faces pressure from activist investor Starboard Value.
Data: May Retail Sales (8:30 a.m. ET) — recent trends show cautious consumer spending, with growth mainly at gas stations and wholesale clubs.
Earnings: Jabil (JBL) reports Q3 results before the open, conference call at 8:30 a.m. ET. Focus on AI-driven demand for circuit boards (shares up ~65% YTD).
Fed: FOMC interest rate decision at 2:00 p.m. ET, followed by Kevin Warsh’s first press conference at 2:30 p.m. ET.
Wednesday, June 18
Earnings: Kroger (KR) reports Q1 results, conference call at 8:00 a.m. ET. New CEO John Foran is pushing price cuts to gain market share.
Earnings: Accenture (ACN) reports Q3 results, conference call at 8:00 a.m. ET. Investors are monitoring potential pressure from reduced federal spending and AI advancements.
Thursday, June 19
Markets closed for Juneteenth.
Friday, June 20
No major U.S. market activity or scheduled events.
Global hits:
No more attacks in Lebanon, Trump tells Israel, as U.S. nears deal with Iran.
South Korea household loans surge as investors pile into stocks.
Tens of thousands of new jobs and more than £18 billion boost to British economy as Prime Minister meets Japanese leader.
US-Iran Deal: The text of a memorandum of understanding with the United States has been finalized and will be formally signed Friday in Switzerland. As a result, the US will end its naval blockade on the country, and Iran will open The Strait of Hormuz.
Iranian deputy foreign minister has said nuclear issues will be discussed during the upcoming 60-day negotiations on a final agreement with the United States.
E4 nations including the United Kingdom, France, Germany and Italy said on Sunday the countries were prepared to lift sanctions on Iran in response to steps on its nuclear program after the US and Iran reached a deal to end their war.
Reminder: Trump heads to G7 summit in France as world awaits Iran deal.
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📈 Stocks
S&P 500 7,431.46 (+0.52%)
DJIA 51,202.26 (+0.71%)
NASDAQ 25,888.84 (+0.31%)
BRENT CRUDE 87.34 (-3.05%)
* Prices as of Mar 3rd, 12:20 AM UTC
Elon Musk: World’s First Trillionaire
Elon Musk’s net worth has crossed $1 trillion, making him the world’s first trillionaire — at least on paper.
SpaceX’s successful IPO, priced at $135 per share, surged to around $161 by the close of its first trading day.
Musk owns approximately 4.76 billion shares in the rocket company, which now accounts for over 70% of his wealth.
His stake in Tesla (about 11%), plus smaller holdings in Neuralink and The Boring Company, further boosted his fortune.
Interesting: Anthropic says U.S. suspends foreign access to Fable 5, Mythos 5 AI models.
Surprising: JetBlue bets big on Fort Lauderdale, from a new airport lounge to an international gateway.
💵 Personal Finance
Trump Accounts: Can They Help Close America’s Wealth Gap?
Trump Accounts, launching July 4, aim to boost long-term wealth building for U.S. children by providing tax-deferred investment accounts seeded with government and private funds.
Eligible children born between 2025 and 2028 will receive a one-time $1,000 Treasury deposit. The funds will be invested in U.S. stock funds, primarily tracking the top 500 companies. Additional contributions may come from employers, philanthropists, and a $6.25 billion pledge from Michael Dell and his wife targeting lower-income families.
Limited Reach So Far
Nearly 6 million children — about 40% of eligible kids — have been signed up as of late May. However, experts worry participation among low-income families remains low due to the opt-in process tied to tax filing.
“Low-income households that owe no federal income tax often don’t file, leaving out the children who need it most,” according to an Urban Institute report.
Challenges to Closing the Wealth Gap
Even with seed money, disparities are expected to persist. Wealthy families are more likely to add regular contributions, potentially growing accounts to hundreds of thousands by age 30. Low-income children may end up with far less — around $2,500 without extra deposits.
Critics argue automatic enrollment would be more effective at ensuring broad participation. Without it, higher-income families are likely to benefit disproportionately.
While Trump Accounts represent a step toward broader access to stock market investing, experts say they may not significantly narrow the wealth gap unless enrollment barriers are reduced and sustained contributions are encouraged.
The program highlights ongoing challenges in U.S. wealth inequality, where the top 10% hold over 87% of equities and mutual funds.
💰 Be a Better Investor
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