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The “One Big Beautiful Bill Act” advanced to Senate debate and was projected to swell US debt by over $3 trillion
Google faces new potential consequences in its antitrust trial. US District Judge Amit Mehta may order Alphabet to sell its Google Chrome browser as part of break up its current monopoly on search ads—an order that Barclays thinks could wipe out 25% of Google’s value. Ross Sandler (Barclays analyst) said “the probability of a Chrome divestiture, while low, has increased in our view,” and that the most-likely candidates to buy the browser would be companies like OpenAI, Anthropic, and Perplexity.
Energy and tech outperformed yesterday, even though OPEC+ announced extra oil production and Google faces its impending lawsuit repercussions.Meta pumped on news about its AI advertisement functionality, which aims to create and run entire ad campaigns—starting with nothing but a single user-provided image. The initiative has been controversial though; here’s why some executives seem to distrust Meta’s ad system.
The “Sell America” strategy is still alive and well. The US dollar took a 0.8% dip as Donald Trump doubled down on tariffs yesterday, raising steel and aluminum import duties to 50% from 25%. And the it might keep dipping—Morgan Stanley has a thesis on why the dollar has much farther to fall over the coming year.
😱 Fear and Greed Index
🧠 Make yourself heard
Who *should* own Chrome if Google is forced to sell?
What Elon Musk’s Neuralink plans to do with the $650 million it just secured from ARK Invest, Founders Fund, and others.
IBM acquired Seek AI and launched Watsonx AI Labs in NYC to accelerate enterprise AI development.
Microsoft committed $400 million to expand AI and cloud infrastructure in Switzerland, upgrading four data centers to meet strict data residency needs.
xAI announced a $5 billion debt sale, targeting a $113 billion valuation to fund major AI expansion.
📊Alternative Investing News
This form of private market income doubled from $900 billion in 2022 and could hit $2 trillion by 2032, per Bain & Company.
Gold jumped 2.5% to $3,372.13 on safe-haven demand driven by US-China tensions, Ukraine conflict, and a weakening dollar.
Private market assets reached $60–65 trillion, growing 9–10% annually, with alternative credit expanding at 7% CAGR from 2012 to 2022.
🥇 AltIndex Top Stock Pick
AltIndex’s AI-driven stock analysis gave ServiceNow a buy signal.
💲 Current Price: $1,006.61 🎯 Target Price: $1,162.75 📈 Upside: 15.5% 🤖 AI Score: 60/100
Key reasons for the buy signal included:
💰️ 18.63% revenue increase YoY ⬆️ 4.43% revenue increase QoQ 💵 32.56% net income increase YoY 👍️ 88% positive employee sentiment 📱 140 app downloads per day (stable) 📸 8% increase in Instagram followers
Supplier delivery times stretched to their longest delays since 2022, with the supplier deliveries index hitting 56.1 as port operators report declining cargo volumes amid widespread supply chain disruptions.
JPMorgan warned stocks looked vulnerable above April levels as tariffs loom, stagflation risks grow, and China rejected President Trump's trade violation claims, escalating tensions.
🪙 Crypto
Meta shareholders rejected a proposal to add Bitcoin to its $72 billion treasury, with only 0.08% voting in favor and nearly 5 billion votes against.
Metaplanet bought 1,088 BTC for $117.5 million, raising holdings to 8,888 BTC worth over $930 million, nearing its 10,000 BTC year-end goal.
The SEC flagged concerns over crypto ETF plans by REX Financial and Osprey Funds, questioning if staking features comply with securities laws.
💡 Ideas, trends, and analysis
The ABUSA trade (“Anywhere But the USA”) gained traction as the US dollar index tumbled more than 8% since January and investors shifted toward Europe, Japan, and emerging markets.
The housing correction accelerated as unsold new homes hit 117,000, luxury sales fell 10%, Austin prices dropped 20.4%, and Texas listings surged 53%, while Citi, Redfin, and Zillow warned of further declines.
🌍 International Markets
🇯🇵 Tokyo's inflation remained elevated at 3.4% in May, with core CPI rising to 3.6%. Rice prices soared 93.7%, pressuring the Bank of Japan ahead of its June meeting.
🇨🇳 Why did Beijing just stop publishing hundreds of economic statistics all of a sudden?
🇷🇺 Russian officials unveiled a memorandum to Ukraine proposing the gradual restoration of diplomatic and economic ties, including gas transit return, according to state-run Tass.
🇸🇬 Singapore's Monetary Authority set a June 30 deadline for local crypto firms targeting overseas markets to halt operations or face up to $200,000 in fines and three years in prison.
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“Set it and forget it. And hope no nuclear destruction before I can enjoy at least 1 year of retirement in 30 years.”
🚚 Market movers
Slate’s upcoming electric vehicles will cost less than many used cars do.
Chime priced its IPO at $24–$26 per share, targeting an $11.2 billion valuation, less than half its $25 billion private mark.
Google agreed to spend $500 million over 10 years to improve compliance in a shareholder lawsuit settlement tied to antitrust claims.
Disney cut several hundred jobs across film, TV, and corporate teams due to weak traditional media revenues and a pivot to fewer, higher-quality productions.
President Trump asked the Supreme Court to lift a block on mass federal layoffs as part of his plan to restructure government agencies.
JetBlue and United announced a strategic partnership that could lower fares at JFK by 5–10% and at Newark by 3–7%, pending regulatory approval.
The NTSB scheduled a June 24 hearing on the Boeing 737 MAX 9 mid-air emergency that grounded the fleet and triggered a DOJ criminal probe.
📊 Earnings this week
Campbell Soup shares rose 2.6% after reporting stronger demand for snacks and meals as more consumers returned to cooking at home.
🐦️ Curated Finance Twitter Roundup
We’ve gone through and picked out some Twitter posts we think you’ll get value from.
