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NEWS
It Is Wednesday, My Dudes

The market climbed on Wednesday. Outside of the Middle East, there was not a ton of policy-related news, and though climbing 18% from the bottom, the S&P 500 stands alone in the green for the year. Without further news on tariff deals, analysts say it will be hard for the market to climb any further. Maybe Fed Chief Powell will stir things up speaking tomorrow. 👀

Today's issue covers: Etoro’s IPO Flew, SMCI Climbs on Cool News, and More. 📰

Here’s the S&P 500 heatmap, followed by index closing numbers and the ETFs that track them. 3 of 11 sectors closed green, with tech $XLK ( ▼ 1.4% ) leading and healthcare $XLV ( ▼ 0.5% ) lagging.

S&P 500 | $SPY ( ▼ 1.12% ) | 5,893

Nasdaq NDX | $QQQ ( ▼ 1.26% ) | 21,319

Russell 2000 | $IWM ( ▼ 1.83% ) | 2,084

Dow Jones | $DIA ( ▼ 1.78% ) | 42,051

STOCKS
Etoro Jumps After IPO, Is It Fintech Summer? 🐻 

eToro $ETOR ( ▼ 4.07% ) debuted on the Nasdaq on Wednesday, raising nearly $310 million after pricing its IPO at $52 per share, above expectations. The stock opened at $69.69, surging 34% and valuing the company at $5.6 billion. The stock hit as high as $74/share at one point.

Investors welcomed the strong debut amid a prolonged IPO slowdown tied to tariff concerns. Chime, a fintech bank, also filed to go public on the Nasdaq. With tariff cuts on the way, 2025 could bring back fintech IPO’s:

Back in April, Swedish Buy Now Pay Later firm Klarna and the U.S. ticket dealer StubHub delayed their public listing debuts after President Trump’s Liberation Day event on the 2nd.

“We felt that we’re seeing the light at the end of the tunnel of the correction in the markets,” CEO Yoni Assia told CNBC.

Ahead of listing, eToro saw a nearly 30% spike in Stocktwits watchers, with retail sentiment maxing out.

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