Despite a shortened trading week and tons of economic data, the large-cap indexes scored another week of gains on the back of big tech. 🦾

Let's recap and prep you for the week ahead. 📝

What Happened?

🤖 On Monday, big tech and banks dominated the market, while the smaller-cap Russell 2000 lagged. Boeing agreed to acquire its troubled supplier Spirit Aerosystems for $37.50/share, Roaring Kitty revealed a stake in Chewy, and homebuilding stocks broke technical support.

🧑‍💼 On Tuesday, bulls reminded bears that they don’t take vacation breaks, with Tesla and other big tech leading the market to new all-time highs. Elsewhere, palladium prices perked up, and Peloton kicked cash concerns down the road.

😏 On Wednesday, soft economic data renewed hopes for a September rate cut. Meanwhile, precious metals and mining stocks broke out of their recent consolidations as the silver/gold ratio suggests more room to run.

🏖️ On Thursday, U.S. markets were closed for Independence Day.

🥳 On Friday, stocks made new all-time highs as Meta, Apple, Google, Microsoft, and more big tech continued their rise. Meanwhile, labor market data showed a continued softening, Samsung shares surged on AI hopes, and Saks Fifth Avenue and Neiman Marcus merged (with the help of Amazon).

🤩 This week's Stocktwits Top 25 showed outperformance vs. the indexes.

🔥 Certain symbols were on the Stocktwits trending tab for most of the week, including $GME, $CHWY, $META, $KOSS, $RDDT, and $IREN.

Here are the closing prices: 

⚡ NASCAR joins the global race to spur EV demand by unveiling a new electric SUV. While NASCAR racing is known for its loud, fast cars burning gas and rubber, the company did something different this past week. It unveiled an all-electric SUV with twice as much horsepower as their current gas-powered vehicles. The prototype is meant to highlight how far electric vehicles (EVs) have come and gauge fan interest in electric cars. CNN Business has more.

🪫 AI companies have become a treasure trove of information for hackers. A recent breach of OpenAI’s systems luckily didn’t allow access to any material information. Still, it reminded us all that cybersecurity at artificial intelligence (AI) firms will be crucial in protecting all the data they collect and create daily. This information falls into the buckets of high-quality training data, bulk user interactions, and customer data…all of which could be dangerous if it falls into the wrong hands. More from TechCrunch.

🤔 AI’s latest “interesting” use case. A company called American Rounds is looking to start dispensing bullets from a vending machine at grocery stores and other common shopping centers. It plans to use artificial intelligence (AI) and facial recognition technologies to verify that buyers are of legal age to buy bullets. The company thinks it’s solving a clear problem, but for many, this is just another example of AI creating solutions for things people didn’t know they wanted…because they probably don’t. Gizmodo has more.

Stocktoberfest is back with an intimate event for executives, influencers, and the most active investors in financial markets. 🤝

Network with industry thought leaders like Howard Lindzon, Michael Batnick, Brian Shannon, Michael Parekh, and many more during the 2-day palooza.

Space is going quickly so grab your seat now, and we'll see you in beautiful Coronado, CA! 😎

Need a concise summary of what's going on this week? Look no further. Here’s a rundown of this week’s earnings and economic data.

It’s a lighter economic data, with investors focused on Jerome Powell’s commentary and U.S. inflation data. In addition to the above, check out this week's complete list of economic releases.

Just 29 stocks report this week, but banks kick off a new earnings season on Friday. Some tickers you may recognize are $DAL, $PEP, $JPM, $WFC, and $FAST.

Above is a quick summary. Check out the full Stocktwits earnings calendar for the other names reporting this week.

🧰 Navigate the market with MarketSurge’s pro trading tools––get 5 weeks for $39.95*

☀️ Too much solar? How California found itself with an unexpected energy challenge

🛒 California family’s $444 receipt from Trader Joe’s goes viral on social media: ‘Insane’

🕺 The average wedding costs well over $30,000. Some couples are having ‘micro weddings’ instead

🛟 Why you’re seeing lots of teens at work this summer — but still so many empty lifeguard chairs

🕵️ Trends With No Friends — find stocks with high relative strength and a low social following

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