The Weekend Rip
Happy Weekend

It was the second red trading week in a row, and it feels like a theme that short weeks are bad for the market this year. It was the first full week of air combat between Israel and Iran, which shook markets and bolstered energy prices. Saturday, President Trump inserted himself and the U.S. into the conflict, carrying out strikes on Iranian nuclear facilities. It is unclear where the violence will escalate next, though Iranian military sources said there was a big bullseye painted on the newly arrived U.S. aircraft carrier strike group that picked up the B2 bombers on their exit from Iranian airspace Saturday night.

It’s also the first full week of China and the U.S. playing along to a new (old) trade agreement tune. Finally, it was a rate decision week, but the FOMC came right out and said, ‘We are not going to work this summer, at least not till July.’ Maybe the coming week’s PCE inflation numbers will change their tune. 📉 

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

◀️ On Monday, Trump reaffirmed his commitment to tariffs at the G7 summit, at least for the day, as world leaders sought clarity on U.S. trade policy ahead of the self-imposed July 9 deadline. Senator Tim Kaine introduced a resolution aiming to limit Trump's ability to launch military strikes against Iran without congressional approval (it didn’t work.) EU negotiators are reportedly considering a 10% tariff deal with the U.S. to avoid higher levies on cars, pharmaceuticals, and electronics, though officials stress the offer is conditional.

🌏️ On Tuesday, the S&P 500 dipped back below 6,000 as rising tensions between Iran and Israel weighed on sentiment and Trump left the G7 summit early to ponder joining another Middle East war this century. May retail sales were weaker than expected, reflecting tightening consumer behavior under tariff pressure. Solar stocks were hit hard after the Senate tax bill proposed phasing out clean energy credits by 2028, while JetBlue slumped on a gloomy 2025 outlook that dragged down the airline sector.

⚡️ On Wednesday, the Federal Reserve held interest rates steady at 4.25%–4.5%, with the latest dot plot showing policymakers still expect two cuts this year, though seven officials forecast no change. Markets briefly rallied on the decision before reality sank in—tensions in the Middle East remain high, FOMC inflation expectations for 2026 rose, and new tariffs could emerge. Coinbase jumped over 4% as the Senate passed the GENIUS Act and the firm unveiled Coinbase Payments, enabling businesses to accept USDC transactions.

🐂 On Thursday, U.S. markets were closed for the Juneteenth holiday, but global sentiment leaned risk-off. Futures hinted at a cautious tone heading into Friday’s session, which features a “Triple Witching” expiration—when stock index futures, options, and individual equity options all expire simultaneously. This quarterly event often stirs volatility. Meanwhile, Cem Karsan joined the Stocktwits Weekend Rip team to break down the market.

😢 On Friday, trading wrapped up for a short and volatile week that ended in a market decline. Federal Reserve Governor Christopher Waller opened the session with a hopeful signal of a possible rate cut as soon as July, but investor nerves frayed as reports emerged about the U.S. considering tighter chip tool export restrictions to China. Tesla watchers braced for Sunday’s launch of its self-driving ride-hailing pilot in Austin.

Saturday, this week's Stocktwits Top 25 showed the week’s top movers, and the U.S. military carried out Operation Midnight Hammer on the Iranian Nuclear Program.

Here are the closing prices: 

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THE BRIEF

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.

Earnings This Week

The Spring earnings season is dead and buried, with just 58 stocks reporting this week.

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

Economic Calendar

It’s a busy week of economic data, with investors focused on PCE inflation data, and Fed Reserve member speeches.

In addition to the above, check out this week's complete list of economic releases.

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⚠️ U.S. Strike on Iran Began With a Ruse

🕔️ Iran says it reserves all options after ‘outrageous’ U.S. strikes, launches fresh attacks on Israel

🥟 U.S. used 14 bunker-busters, 7 B-2 bombers in "Midnight Hammer" strikes on Iran

🛢️ Oil to open higher as US strikes on Iran boost supply risk premium

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