The Weekend Rip
Happy Weekend!

It was a wild week that started with a call for peace in the Middle East after a massive bombing. Thankfully, the peace actually held after initial missile launches. Flash forward to the end of the week, and the market was hitting all-time highs, with hope that policymakers would find a market-friendly solution to trade and tax problems before the new earnings season starts in July. The sheer positivity in the face of such wild macro events could make a market junkie feel nuts. 📉 

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

◀️ On Monday, markets rallied as fears of all-out war faded following limited U.S. and Iranian military exchanges. The U.S. launched precision airstrikes on Iranian nuclear facilities over the weekend, and Iran responded with missile fire that was largely intercepted. With no further escalation by Monday’s close, crude oil tumbled and investors rotated back into risk-on assets, lifting the S&P 500 by its largest one-day gain in a month.

Tesla soared 8% as early feedback from its invite-only robotaxi pilot in Austin suggested the rollout went smoothly. Hims & Hers dropped 8% after Novo Nordisk ended their Wegovy partnership and accused Hims of selling unauthorized compounded versions of Wegovy.

🌏️ On Tuesday, the market surged as a ceasefire between Israel and Iran showed tentative signs of holding. Oil futures dropped sharply on the de-escalation, while equities climbed across nearly every sector, pushing the S&P 500 within 1% of an all-time high. Carnival rose over 4% after posting record Q2 earnings and raising guidance, pointing to resilient consumer demand despite global uncertainty. In contrast, FedEx fell after hours as the shipper warned of weak Asia-to-America volumes and trimmed its 2026 outlook.

The robotaxi race intensified as Uber launched Waymo-powered autonomous rides in Atlanta, while analysts upgraded Lyft, calling it the top mid-cap idea for 2025. Meanwhile, Fed speakers struck a cautious tone—Raphael Bostic and Michael Barr both suggested one rate cut late this year, as the Fed balances stable employment with tariff-driven inflation risks.

⚡️ On Wednesday, President Trump’s NATO remarks touted strikes on Iran as decisive, despite contrary Pentagon reports, while Fed Chair Jerome Powell reiterated caution on rates. Wall Street flinched after Socialist Zohran Mamdani secured the NYC Democratic nomination for Mayor, and it freaked out some talking heads, many of whom won’t be affected by NYC policies. 😏 

General Mills slipped after weak forward guidance, while Tesla continued its European delivery slide, down 28% YoY, outpaced by rivals like SAIC and BYD. Semiconductors stayed hot: Nvidia hit another all-time high as analysts floated a $6T cap forecast.

🐂 On Thursday, the S&P 500 closed just shy of a new record as AI stocks carried the market higher, despite a Q1 GDP revision showing a contraction of 0.5%. Political chatter intensified around the search for Jerome Powell’s successor, with markets now pricing in a slim chance of a July cut as speculation of an early "shadow chair" pick builds. Powell’s term ends in 2026, but policy influence may shift sooner.

Nvidia extended its record-setting streak, while Micron rallied on the back of a Q3 beat and bullish revenue guidance that triggered a wave of analyst upgrades. BigBear AI surged again, continuing a breakout week fueled by biometric contract wins and DoD deals, pushing its market cap north of $1 trillion. Walgreens and McCormick also topped estimates.

😢 On Friday, the S&P 500 notched a fresh all-time high, closing at 6,173 despite mid-session turbulence triggered by a flare-up in U.S.–Canada trade tensions. Market momentum was driven by upbeat consumer sentiment data and optimism over potential Fed rate cuts, even as inflation ticked slightly above expectations.

Fed officials continued to send mixed messages—some hinting at a possible July cut, while Chair Powell warned tariffs could complicate that trajectory. With the Senate nearing a tax bill deal and the market shrugging off geopolitical and macro risks, the bulls ended the week firmly in charge.

Nike jumped after beating expectations despite a 12% sales decline and 86% drop in profit— guidance hinted at stabilization ahead.

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

Here are the closing weekly 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

Earnings season is done, with just 22 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

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

Links That Don’t Suck 🌐

📺️ LIVE - SUNDAY OUTLOOK WITH BRIAN SHANNON

⚠️ Senate tax bill would add $3.3 trillion to US deficits, CBO says

🗞️ New Vanguard report: Americans are saving for retirement at record levels

👀 Hims & Hers’ ugly split with Wegovy maker weighs on the telehealth company’s future

😅 Goldman Sachs warns tariffs won’t help the U.S. boost manufacturing productivity

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