📈 Corporate Actions & Big Business News
Tesla’s $25K Car Launch Moved to 2026
Tesla pushed back its highly anticipated low-cost EV model to 2026, citing engineering challenges. Markets reacted negatively, cutting $50B+ off Tesla’s market cap briefly.
Nvidia Hits $3 Trillion Market Cap 🚀
Nvidia became the third company ever to cross $3T, behind Apple and Microsoft, as AI chip demand remains white-hot. Jensen Huang announced a 10-for-1 stock split effective June 7th.
Apple WWDC 2025 Preview: AI Everywhere
Apple teased major AI integrations coming into iOS 19, including "Apple Intelligence" — a personal on-device AI layer. Stock rallied 4% post-announcement.
Pfizer Acquires Seagen for $43B
Pfizer completed its biggest acquisition in years, officially closing its $43B takeover of biotech firm Seagen, targeting dominance in cancer therapies.
Red Lobster Bankruptcy 🍤
Red Lobster officially filed for Chapter 11 bankruptcy. Analysts blame expensive leases, rising costs, and slowing demand for casual dining.
Boeing CEO to Step Down by Year-End
After multiple safety scandals, Boeing’s CEO Dave Calhoun announced he would exit by December 2025. Boeing shares surged on hopes for a turnaround.
🏛️ Economic & Political Moves
U.S. GDP Revised Down to 1.3% for Q1
The U.S. economy grew slower than expected in Q1. Consumer spending softened slightly but business investment remained strong.
Fed Officials Signal 1 Rate Cut Later This Year
Mixed messaging from the Fed: most policymakers now expect only 1 interest rate cut in 2025, citing persistent service inflation.
China’s Export Boom Surprises Analysts
Chinese exports rose 7% YoY in April, smashing expectations. U.S.-China tensions continue, but the trade engine is alive and well.
EU Elections Shake Up Power Balance
Far-right parties made significant gains in European Parliament elections, forcing coalition reshuffles and unsettling markets across Europe.
Mexico Elects First Female President 🇲🇽
Claudia Sheinbaum won Mexico's election by a landslide, continuing AMLO’s party legacy. Markets showed muted reactions.
💸 Markets Roundup: Volatility & Recovery
S&P 500 Back Near Record Highs
Despite brief corrections mid-May, tech strength (led by Nvidia, Microsoft) pulled indices back.
- S&P 500: ~5,350
- Nasdaq: ~17,200
- Dow: ~39,100
Gold Crosses $2,400/oz
Gold spiked to a record high before retreating slightly. Safe-haven demand remains strong as geopolitical tensions simmer globally.
Bitcoin Fails to Hold $70K
Bitcoin briefly breached $71K but retraced hard to ~$66K after ETF inflows slowed. Ethereum, Solana, and meme coins followed similar paths.
Oil Prices Stagnate Despite OPEC Cuts
Even with OPEC+ announcing deeper production cuts, oil hovered around $78-$80/bbl. Demand fears weigh heavier than supply-side cuts.
⚡️ Other Important Stories
OpenAI Unveils GPT-5.5 Turbo
OpenAI launched GPT-5.5 Turbo with smarter long-context memory and custom personalities. Tech world buzzing again about AI capabilities.
U.S. Consumer Confidence Drops
University of Michigan consumer sentiment fell to its lowest reading since November 2023 — Americans increasingly worried about inflation and job market outlook.
Trump and Biden Debate Scheduled for June 27
CNN will host the first Trump-Biden debate of the 2025 election cycle. It's earlier than usual, and stakes are sky-high.
🔥 Quick Takeaways
- Tech is still the king — AI fueling market rebounds.
- Politics heating up — both in U.S. and globally.
- Economy slowing slightly — but no recession yet.
- Commodities strong — gold and energy still holding firm.