Is their bromance dead or what? The market needs to know.

“When something is important enough, you do it even if the odds are not in your favor.” – Elon Musk A solid week for U.S stocks across the board from small-caps to large caps. Major U.S. indexes recorded a second week of positive gains, rising roughly 1-2% for the week. Oil went higher. The price of U.S. crude oil surged more than 6% as the commodity climbed to its highest price in six weeks.  Bitcoin found its footing again. Bitcoin surged above $105,000 amid the overall market rally. Gold fell over 1% as strong US jobs data clouded the outlook for rate cuts. Chances of a rate cut became more hopeless. Strong job data and easing tariff concerns saved the week. Nonfarm payrolls rose by 139,000 in May, above expectations for a 130,000 gain, while the unemployment rate held steady at 4.2%. President Trump said high level trade talks with China would take place in London today. Tesla rebounded after a $150B meltdown. Apple’s big conference kicks off this week. Market Snapshot Dow Jones - 42,762.87 (+1.05%) ↗ NASDAQ - 19,529.95 (+1.20%) ↗ S&P 500 - 6,000.36 (+1.03%) ↗ Fat Chance on a Rate Cut Image courtesy of Jeb Smith via YouTube President Donald Trump called on Federal Reserve Chair Jerome Powell to cut interest rates by a full percentage point. A new report from the Bureau of Labor Statistics showed stronger-than-expected job growth in May. Trump highlighted ongoing rate cuts in Europe as a comparison. The Fed last enacted a one-point rate cut at once during the onset of the Covid-19 crisis in March 2020, and lowered rates by a full percentage point over the course of President Joe Biden’s final year in office. The Federal Reserve is expected to hold interest rates steady as the U.S. labor market cools without indicating a full-blown downturn. While some investors are hoping for rate cuts, the Fed’s decision reflects a mix of factors—including persistent inflation concerns, labor market resilience, and uncertainty surrounding trade policy impacts. "The labor market isn't collapsing," said Nela Richardson chief economist at ADP. "Wages are robust, but they're not triggering inflation. Hiring is slow, but it's not leading to outside layoffs. So in that sense, there's nothing in the labor market that points in any direction [for the Fed] strongly. “The weak numbers we’re seeing now does not point to a labor market that’s collapsing, but there is hiring hesitancy,” Richardson said to reporters. In a note titled “May-day? More like Pay-day!“ Bank of America US economist Shruti Mishra remarked that solid wage income growth is “supportive of consumption but will also likely keep the Fed in their inflation fighting stance.” Job Data to the Rescue Image courtesy of BernardMarr.com The unemployment rate—calculated from a separate survey than the main jobs report—held steady at 4.2% in May. Employers added 147,000 jobs in April, based on revised figures, while May’s payrolls showed modest growth. Revisions to previous data revealed that job gains in March and April were 95,000 lower than initially reported. Stocks moved higher in early trading after the report’s release. “We’re in a low-hiring, low-firing environment,” said Brett Ryan, senior U.S. economist at Deutsche Bank. “There’s no clear signal of a deeper downturn ahead. Is the labor market particularly strong? No—but that’s been the case for the past six to twelve months.” Federal employment dropped by 22,000 in May, marking the fourth consecutive monthly decline. While President Trump has made shrinking the federal workforce a priority, the latest figures represent only part of those intended cuts. Many affected employees are still on paid leave or receiving severance, and thus are not counted as unemployed. Additionally, legal challenges and court rulings have slowed the pace of downsizing. As for the Federal Reserve, the latest labor data is unlikely to alter its current cautious stance. Policymakers are expected to use the summer to assess how shifting trade conditions influence business hiring and pricing strategies. Let them panic. Let them mock him - again. The Dems and their lapdog media are about to miss the biggest wealth explosion in a generation. One Wall St vet believes he’s decoded Trump's 40-year game plan - and discovered where the money is really going, starting as soon as June 17. Click here for more. Tesla Rebounds from $150B Market Cap Loss Image courtesy of Disruption Banking A high-profile feud between former President Donald Trump and billionaire Elon Musk intensified on Thursday, wiping out more than $150 billion from Tesla’s (TSLA) market capitalization. The sharp sell-off followed Musk’s pointed criticism of a Republican-backed spending bill championed by Trump, prompting a swift and combative response from the former president. The public clash fueled investor anxiety over escalating political risk surrounding one of the world's most valuable companies. “This is a disaster of epic proportion for Tesla and SpaceX,” Ross Gerber, CEO of Gerber Kawasaki Wealth & Investment Management, told Yahoo Finance. “And whether Elon wants to accept it or not, he did help Trump get elected. It is his fault that Trump is president of the United States.” Tesla stock rebounded somewhat on Friday, gaining about 6% in afternoon trading as Musk and Trump appeared to tone down their rhetoric. Still, Gerber warned, “I think we're just getting started for the declines because a lot of the stock price’s value isn't based off the underlying business. It's based off the perception that Elon being a part of Tesla is somehow wonderful.” Musk’s criticism focused on Trump’s proposed tax bill, which is projected to add trillions to the federal deficit over the next decade and includes provisions that would scrap electric vehicle tax credits—an important driver of Tesla sales. Gerber called the potential loss of those incentives a “death blow” for the company. The bill has cleared the House and is headed to the Senate, with Trump pledging to sign it into law by July 4. Despite the volatility, Morgan Stanley reaffirmed its Overweight rating and $410 price target on the stock. Apple’s Big Conference Kicks Off This Week Image courtesy of Tech Radar Apple’s Worldwide Developers Conference kicks off on June 10, and it’s shaping up to be a big event—especially with rumors pointing to a major redesign of iOS. A new report from Bloomberg’s Mark Gurman outlines what he expects Apple to unveil during the keynote, revealing at least 25 updates and changes across Apple’s software platforms. Here are the key highlights: The biggest announcement may be a unification of the user interface across all Apple operating systems, along with a shift in naming conventions. The new design, reportedly codenamed Solarium, is inspired by visionOS and features a rounder, more translucent look compared to current versions of iOS and macOS. This refreshed interface will bring a consistent appearance to iOS, macOS, iPadOS, tvOS, watchOS, visionOS, and even CarPlay. Additionally, Apple is expected to replace version numbers with a year-based naming system—so iOS 19 would become iOS 26, iPadOS would also be iPadOS 26, and so forth. The updated design will showcase increased transparency and a frosted glass effect. Toolbars and tab bars will be revamped with new icons and more pop-out menus, creating a more cohesive visual experience. Redesigned widgets for weather, appointments, and stock tickers will reflect this new aesthetic. While many apps will only see minor visual tweaks, some key apps across the platforms are set for more significant updates. Stay tuned—WWDC 2025 looks ready to bring some exciting changes to Apple’s software ecosystem. On the Move Lululemon sank more than 20% in midday trading Friday. The activewear company cut its full-year earnings guidance, citing a “dynamic macro-environment.” The new forecast calls for earnings per share between $14.58 and $14.78, down from a prior range of $14.95 to $15.15. DocuSign plunged 18%. The company lowered ts full-year billings outlook, despite unveiling a $1 billion share repurchase plan. Broadcom slipped more than 3%. The stock trailed the broader chip sector after its forward guidance underwhelmed investors. Microsoft opened at a record high. The tech giant surpassed Nvidia to reclaim the title of the world’s most valuable publicly traded company. Circle, the stablecoin issuer, soared 22% in early trading Friday. The stock built on a stunning 168% rally in its market debut. The stock has experienced multiple volatility-driven trading halts amid optimism fueled by pro-crypto signals from the Trump administration and corporate sector. Samsara ended down 4.6%. This was better than the 12% intraday drop shares saw as the company dealt with valuation pressure. Omada Health jumped 36% to around $25 per share Friday afternoon. The company made its stock market debut. What Else to Watch This Week A Consumer Price Index (CPI) report due Wednesday will reveal whether the recent slowdown in inflation continued into May, even as tariffs and global trade tensions remain high. The previous CPI report showed annual inflation at 2.3% in April, down from 2.4% in March. Core inflation, which excludes food and energy, held steady at 2.8% month over month. Despite tariff concerns, equity markets were nearly flat on Friday and closed the month of May with a gain.  Potential market moving catalysts this week: Monday (6/9): Wholesale Inventories. Tuesday (6/10): no reports. Wednesday (6/11): Consumer Price Index (CPI), EIA Crude Oil Inventories, MBA Mortgage Applications Index, Treasury Budget; 10-year Treasury Note Auction. Thursday (6/12): Producer Price Index (PPI), Continuing Claims, EIA Natural Gas Inventories, Initial Claims; 30-Year Treasury Bond Auction. Friday (6/13): University of Michigan Consumer Sentiment - Preliminary. Earnings on deck this week: Monday (6/9): Casey's General Stores Inc. (CASY), Calavo Growers Inc. (CVGW). Tuesday (6/10): J.M. Smuckers Co. (SJM), Core & Main Inc. (CNM), Academy Sports and Outdoors Inc. (ASO), GameStop Corp. (GME), GitLab Inc. (GTLB), Dave & Buster's Entertainment Inc. (PLAY). Wednesday (6/11): Chewy Inc. (CHWY), SailPoint Inc. (SAIL), Victoria's Secret & Co. (VSCO), Oracle Corp. (ORCL). Thursday (6/12): Lovesac Co. (LOVE), RH Inc. (RH). Friday (6/13): no reports. Watch Our Latest Weekly Video On Youtube Or Spotify Disclaimer: We are engaged in the business of advertising and promoting companies. All content on our website is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Neither the information presented nor any statement or expression of opinion, or any other matter herein, directly or indirectly constitutes a solicitation of the purchase or sale of any securities. 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