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CLOSING BELL
Red Hot Commie Summer

The market fell on Wednesday after oil rebounded from a major sell-off on Middle East peace. President Trump spoke at a Nato conference, answering international press questions with his usual vigor. He said that the strikes on Iran’s nuclear program were devastating, despite a Pentagon report to the contrary. At the same time, Fed president Jerome Powell spoke in front of Congress, and towed the careful line of saying nothing about macroeconomics while promising nothing.

Still, the interest rate cut narrative grew after Morgan Stanley analysts said the Fed will cut rates seven times in 2026. That’s way more than the Fed’s estimated once. 👀 

Today's issue covers  Mamdani wins NYC Democratic nomination and scares Wall Street, and politics shape stocks while oil climbed, equities fell, and AI still minted records. 📰

With the final numbers for indexes and the ETFs that track them, 2 of 11 sectors closed green, with tech $XLK ( ▲ 0.85% ) leading and real estate $XLRE ( ▼ 2.44% ) lagging.

S&P 500 $SPY ( ▲ 0.06% ) 6,092

Nasdaq 100 $QQQ ( ▲ 0.26% ) 22,237

Russell 2000 $IWM ( ▼ 1.17% ) 2,136

Dow Jones $DIA ( ▼ 0.22% ) 42,982

STOCKS
Summer May Be Slow And Violent, But Earnings And Politics Are Still Shaping Prices 🤑 

While Macroeconomics, tariffs, and warfare ran the global conversation on Wednesday, here are some stories you may have missed:

General Mills fell $GIS ( ▼ 5.11% ) after reporting earnings Wednesday morning, cautioning of cautious consumers. The Cheerios and Progresso seller said they expect net sales to fall 1%, or grow 1%, and adjusted earnings to decline 10-15%.

$BB ( ▲ 12.47% ) climbed 12% after the ‘cybersecurity company’ boosted its fiscal-year sales guidance after swinging to a profit in Q1.

$FLG ( ▼ 3.87% ) fell after the regional bank, previously known as NYCB, after investors worried the firm’s real estate exposure to the rent market in NYC was dangerous after the Democratic party almost officially nominated Zohran Mamdani, a self-described socialist who believes in easier access to housing by freezing rent increases. Analysts at D. A. Davidson said the fear was overblown.🧧 

NYCB has been shaky before- the firm originally changed its name after it hit money troubles around New Year’s in 2024 during a major regional bank blowup.

$TSLA ( ▼ 3.8% ) fell after the firm reported sold 28% fewer EVs in Europe YoY, outshone by every other major manufacturer ranked by the Association of Car Manufacturers, SAIC, a Chinese state-owned automaker, sold twice as many cars as Tesla, and another Chinese brand, BYD, is also catching up. BYD outsold Tesla in April, and sold just 40 fewer cars than the U.S. brand in May, according to the report.

As self-driving tests run, they can’t come up with good results fast enough for Tesla investors. 🏎️ 

SPONSORED
StartEngine: Riding Tech IPO Tailwinds Into Today’s Deadline

You may have seen the headlines: the tech IPO market is finally showing signs of life.

Chime just went public, following strong IPOs from Circle and eToro.¹

And that could be great news, not just for Wall Street, but for investors like you.

Why? StartEngine.

This alternative investing platform doesn't just offer exposure to pre-IPO companies like OpenAI, Perplexity, and Databricks.² StartEngine (and its investors) can potentially benefit when these companies succeed, thanks to 20% carried interest in some of the platform's pre-IPO offerings.³

Investors are paying attention. In a quieter market, StartEngine pulled off $30M in revenue in Q1 2025, its biggest quarter ever (based on unaudited financials).⁴

Now StartEngine is preparing to close its current fundraise this week. If you want to tap into pre-IPO value while supporting the future of fintech, join more than 5K+ investors who have already committed $14.2M in this round.

*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here.

COMPANY NEWS
Oil Climbed And Equities Fell While AI Still Prints Records 🤖 

While Oil might run the general market, semiconductor firms are moving higher all the same.

$NVDA ( ▲ 4.33% ) climbed to a new record high close after a price target rise from Loop Capital Market Analysts, during the firm’s annual investor day. Loop said the firm’s market cap can climb to 6T, higher than its $3T price tag that recently overcame Microsoft as the highest valuation on the market.

After the closing bell, Micron climbed after the semiconductor firm posted Q3 earnings that beat estimates, and posted a forward-looking revenue range that was way above current estimates.

The semi’s success sent Nvidia, and stocks like $AMD ( ▲ 3.59% ) or Sandisk even higher in after-hours trading.

$MU ( ▼ 0.52% ) said it pulled in Q3 adjusted operating income of $2.49B, above Wall Street Estimates for $2.13B. The firm expects revenue in the current quarter between $10.4-$11B, way above estimates for $9.89B, especially considering the higher-than-high street estimates for semiconductor and computing firms.

Speaking of computing, it wasn’t just hardware that climbed. $PLTR ( ▼ 0.23% ) pulled back slightly after hitting an all-time high, set to join the Russell 1,000 after climbing 460% in one year. Jefferies analysts said it would cut the Russell midcap growth index 11% as the ticker shifts lists.

$GOOGL ( ▲ 2.35% ) climbed after Google said it is launching an AI agent called Gemini CLI, a coding and content generation companion.

POPS & DROPS
Top Stocktwits News Stories 🗞️ 

Intel is shutting down its automotive unit and laying off most employees in that division as part of a broader cost-cutting effort under CEO Lip-Bu Tan. Read more

Bumble stock soared over 25% after the company raised its Q2 revenue forecast and announced plans to cut 30% of its workforce, aiming to streamline operations and boost innovation. Read more

Shell fell after a Wall Street Journal report that it was in early talks to acquire BP in a potential $90 billion deal that would mark the largest energy merger since Exxon and Mobil. Later in the day, the firm denied the claims. Read more

Oil prices rebounded after a two-day slump as traders weighed the Iran-Israel ceasefire and falling U.S. inventories, with Brent and WTI both climbing over 1%. Read more

US could run out of money to pay its bills between mid-August and early October unless Congress raises the $36 trillion debt ceiling, according to a new Bipartisan Policy Center projection. Read more

Jerome Powell warned that tariffs could drive inflation higher and said the Fed won’t cut rates until it sees how price pressures play out, despite Trump’s push for immediate easing. Read more

Trump called Jerome Powell “terrible” and said he has narrowed down three or four candidates to replace him as Fed Chair, intensifying pressure for immediate rate cuts. Read more

Hewlett Packard Enterprise unveiled new Gen12 servers with AMD chips, doubling memory and enhancing security, but retail investors showed little enthusiasm. Read more

Don’t miss a story! Follow @StocktwitsNews for a live feed in real time. ✍️ 

PRESENTED BY STOCKTWITS
Waymo vs Tesla, UPS at a Pivot, and Retail Just Won Q2

Welcome to Daily Rip Live with Katie Perry, Shay Boloor, and special guest Tom Bruni, Editor-in-Chief of Stocktwits. From Carnival Cruise Line’s earnings beat to UPS's inflection point and the growing power of retail, this episode covers everything you need to know to make sense of a frothy summer tape. Plus, we unpack BNPL shakeups, the rise of predictive markets like Polymarket, and why boomer stocks aren’t as safe as they look.

🛳️ Carnival Crushes Earnings

📦 FedEx Beats, But Cuts Guidance

🤖 Waymo vs Tesla: The Autonomy Duopoly

📊 Retail Outplays Institutions Again

WHAT’S ON DECK
Tomorrow’s Top Things 📋

Economic data: Continuing Jobless Claims (8:30 AM), Durable Goods Orders (8:30 AM), GDP (8:30 AM), Initial Jobless Claims (8:30 AM), Pending Home Sales (10:00 AM), 7-Year Note Auction (12:00 PM), Fed Barr Speaks (1:15 PM). 📊

Pre-Market Earnings: HIVE Digital Technologies ($HIVE), Walgreens Boots Alliance ($WBA), McCormick & Co ($MKC), Orion Energy Systems ($OESX), and Acuity Brands ($AYI). 🛏️

After-Hour Earnings: Nike ($NKE). 🎧

P.S. You can listen to all of these earnings calls and more straight from the Stocktwits app or website. You’ll find them on the calendar page and individual symbol pages once they’re set to begin! We’ll see you there. 👍

Links That Don’t Suck 🌐

👑 In New York City on July 10th? Join the CMT Association and Stocktwits for our Summer Social, Second Half Outlook Event!

📺️ Fed’s Powell repeats warning about tariffs as some GOP senators accuse him of bias

⚠️ Mamdani’s Shock Win Has Wall Street Fretting Over ‘Hot Commie Summer’

😨 Nvidia shares hit record as AI chipmaker again becomes world’s most valuable company

👀 Early US intelligence report suggests US strikes only set back Iran’s nuclear program by months

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Terms & Conditions 📝

StartEngine Disclaimer: This Reg A+ offering is made available through StartEngine Crowdfunding, Inc. No broker-dealer or intermediary involved in offering. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment. For more information, please see the most recent Offering Circular and Supplements and Risks related to this offering. In addition, as described in the Offering Circular, the Company retains the right to continue the offering beyond the Termination Date, in its sole discretion. 1. Source: Ron Shevlin, “The Chime IPO May Kickstart A Fintech Investment Comeback,” Forbes, June 14, 2025 2. The underlying companies held by StartEngine Private Funds LLC, and StartEngine Private LLC (together, “StartEngine Private”) are not participating or involved in the offering. The availability of company information does not indicate that the company has endorsed, supports or otherwise participates with StartEngine Private or any of its affiliates. StartEngine Crowdfunding LLC purchases shares from current and former employees, early investors, and advisors of the companies and sells the shares to StartEngine Private for each offering. When you make an investment in a company on StartEngine Private, you are purchasing an interest in a series of StartEngine Private Funds LLC or StartEngine Private LLC, each a Delaware limited liability company (together the “Series LLCs”), which were created to hold shares of privately held companies. An investor will not directly own or hold shares of the private company but instead will own member interests in a series of the Series LLCs, which either directly or indirectly, will hold shares in the company. There may not be a one-to-one economic parity on the value of the Series LLCs interests and the underlying shares. 3. StartEngine receives 1% equity in fees from many of our crowdfunding offerings, and 20% carried interest in some of our Private pre-IPO offerings. There is no guarantee that the 20% carried interest or equity received as compensation will have value, that they will generate income for StartEngine, or that the company will be profitable. 4. Based on our Q1 2025 Form 10-Q/A. This revenue growth has been driven by StartEngine Private, a new product line that offers funds in late stage companies. This product line has driven over $24.6 million of the $30 million in revenue from Q1 2025. To understand the impact on margins, see financials.

Securities Disclaimer: STOCKTWITS IS NOT A TAX ADVISOR, BROKER, FINANCIAL ADVISOR OR INVESTMENT ADVISOR. THE SERVICE IS NOT INTENDED TO PROVIDE TAX, LEGAL, FINANCIAL OR INVESTMENT ADVICE, AND NOTHING ON THE SERVICE SHOULD BE CONSTRUED AS AN OFFER TO SELL, A SOLICITATION OF AN OFFER TO BUY, OR A RECOMMENDATION FOR ANY SECURITY. Trading in such securities can result in immediate and substantial losses of the capital invested. You should only invest risk capital, and not capital required for other purposes. You alone are solely responsible for determining whether any investment, security or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. You should also consult an attorney or tax professional regarding your specific legal or tax situation. The Content is to be used for informational and entertainment purposes only and the Service does not provide investment advice for any individual. Stocktwits, its affiliates and partners specifically disclaim any and all liability or loss arising out of any action taken in reliance on Content, including but not limited to market value or other loss on the sale or purchase of any company, property, product, service, security, instrument, or any other matter. You understand that an investment in any security is subject to a number of risks, and that discussions of any security published on the Service will not contain a list or description of relevant risk factors. In addition, please note that some of the stocks about which Content is published on the Service have a low market capitalization and/or insufficient public float. Such stocks are subject to more risk than stocks of larger companies, including greater volatility, lower liquidity and less publicly available information. Read the full terms & conditions here. 🔍

Author Disclosure: The author of this newsletter does not hold positions in any of the securities or assets mentioned. 📋