From Apple’s AI Miss to Circle’s Wild IPO— Anything But Boring

• 📈 Market Indices Update

• 📢 Top 3 Market Stories

• 🔎 Rich & Powerful Are Buying

• 🔥 Underrated & Overrated Stocks

• 📊 One Chart

• 🚀 Biggest Market Movers

• 🐦 Best Tweet

📈 Market Indices Update

• S&P 500: ↑ 0.56% to 6,039.45 – Stocks rose ahead of key inflation data due tomorrow and amid ongoing U.S.–China trade talks.

• Dow Jones: ↑ 0.27% to 42,875.23 – The Dow saw modest gains as investors maintained a cautious but optimistic stance.

• Nasdaq: ↑ 0.64% to 19,716.24 – Tech shares led the advance, with small-cap indices also showing strength.

• Gold: ↓ 0.06% to $3,339.10/oz – Gold edged lower as a stronger dollar and equity gains dampened safe-haven demand.

• 10-Year Treasury Yield: ↓ 0.44% to 4.49% – Yields dipped as investors positioned ahead of tomorrow’s CPI report.

• EUR/USD: 1.1423 (+0.02%) – The euro saw a slight uptick.

• USD/JPY: ¥144.89 (+0.21%) – The dollar strengthened against the yen.

• Bitcoin: ↑ 0.80% to $108,900 – Bitcoin posted modest gains.

🔍 Summary: Markets showed a cautious upward drift as investors awaited the U.S. inflation print and developments from the second day of U.S.–China trade talks.

^{_{Data as of market close, 4:00pm ET}}

📢 Top 3 Market Stories You Should Care About

​1️⃣ Apple’s WWDC Falls Short on AI Expectations (CNBC)

• Apple's stock fell -1.7% yesterday after the WWDC keynote amid investor disappointment

• Highlights included the new “Liquid Glass” UI, AI-powered real‑time messaging and translation tools, and a “Workout Buddy” on Apple Watch

• Siri overhaul remains delayed into next year due to privacy and performance tradeoffs

• Market Reaction: Apple shed approximately $75 billion in market cap mid-keynote, dipping through key technical levels.

🔎 Why it matters: Apple’s $3.3 trillion valuation depends heavily on meaningful AI progress. The lack of headline‑grabbing innovation puts pressure on future product roadmaps and could impact the broader tech sector’s momentum.

2️⃣ World Bank Cuts U.S. & Global Growth Forecast Amid Trade Tensions (The Times)

• U.S. growth slashed to 1.4% for 2025, down sharply from the January estimate of 2.3% .

• Global GDP outlook trimmed to 2.3%, the slowest non-recession growth since the global financial crisis .

• Cuts also hit the Eurozone (–0.3 pp) and Japan (–0.5 pp); China’s forecast holds steady at ~4.5%.

• World Bank warns that escalating trade barriers and ongoing policy uncertainty could push the forecast even lower

3️⃣ Immigration Crackdown Distorting U.S. Jobs Data, Confusing Fed Signals (Reuters)

• U.S. employment data shows a drop of 696k jobs in May, but the unemployment rate held steady at 4.2%.

• Economists say stricter immigration policies are shrinking the labor force, masking true economic weakness.

• This divergence could lead the Fed to misread labor market strength, complicating monetary policy.

🔎 What 5 Rich & Powerful Are Buying

👟 Cindy L. Davis – Director, Deckers Outdoor
→ Bought 1,825 shares at $109.76/share ($200K) on June 6
→ Why It Matters: With $DECK ( ▼ 1.88% ) down ~45% from recent highs, this insider buy could signal a rebound play.

🚀 Bill Ackman’s Pershing Square – Buying Amazon
→ Ackman has been accumulating shares since April’s tech pullback
→ Described $AMZN ( ▼ 2.03% ) as a “fantastic franchise” at an “extremely attractive” valuation
→ Why It Matters: A rare public big-tech bet by Ackman, signaling confidence in long-term growth despite macro headwinds.

🏦 Hedge Funds – Rotating into Tech & AI
→ Goldman Sachs reports hedge fund buying at the fastest pace since Nov 2024
→ Focused on semiconductors and AI across U.S. and Europe
→ Why It Matters: Smart money piling into growth sectors may sustain the market rally.

📉 Staffan Encrantz – Director, Sight Sciences
→ Bought 90,525 shares at $4.17–4.24/share (~$382K)
→ $SGHT ( ▲ 0.48% ) jumped ~14% this week; SGHT has more cash than debt and a current ratio of 10.4
→ Why It Matters: Strong insider conviction + healthy balance sheet = potential undervalued gem.

📉 ISQ Global Fund – Dumps $188M Stake in Kinetik Holdings
→ Sold 4,262,090 shares at an average of $44.16/share (~$188.2M) of $KNTK ( ▲ 3.05% ) on June 4
→ ISQ is a 10% owner—this was a major liquidation
→ Why It Matters: A large institutional exit can signal shifting confidence or portfolio rotation in the energy infrastructure space.

💰 Jeremy Andrus – CEO, Traeger
→ Bought 727,187 shares of $COOK ( ▼ 5.95% ) for ~$1M total
→ Why It Matters: Rare insider buying spree from a CEO during a rough patch—clear signal of long-term conviction.

🏢 Apollo Management – Sells $372M Worth of ADT
→ Sold 45M shares at $8.27/share (~$372.15M) of $ADT ( ▼ 1.44% ) 
→ Why It Matters: That’s a huge block. Institutional sell-downs like this often lead to temporary stock pressure or ownership shakeups.

🚀 IPO of the Week: Circle Internet Financial

Circle —the fintech firm behind the $61B stablecoin USDC—made a blockbuster debut on the NYSE, signaling a breakout moment for crypto-native infrastructure.

What They Do:
Circle powers digital payments via USDC, a 1:1 dollar-backed stablecoin used across DeFi, trading, and fintech apps. It's a key bridge between crypto and traditional finance.

IPO Performance:
Priced at $31/share, raised $1.05B , hit $105+, +240% from IPO price

Big Buyers:

• Ark Invest bought 4.48M shares across ARKK, ARKW, ARKF

• BlackRock reportedly took a sizable stake

Why It Matters:
Circle’s IPO is the largest stablecoin-related listing ever, reopening the door for crypto-fintech IPOs. All eyes are now on the 180-day lockup and potential ETF launches tied to $CRCL ( ▲ 10.66% ).

📊 One Chart That Explains Everything

This chart shows if wage growth is outpacing inflation (pink) or falling behind (blue), from 2007 to 2025.

Long-Term Trend

• Since 2006, wages rose 78.7%, but real wages only grew 11.9%

• Most of the gains were wiped out by inflation

Recent Good News
Since early 2024, wages are finally beating inflation again—just slightly

Bottom Line:
Wages are rising—but inflation has taken most of the gains.

🚀 Biggest Market Movers

📈 Top 3 Winners

• $INTC ( ▼ 6.34% ) – Semis rallied on U.S.–China trade optimism.

• $TSLA ( ▲ 0.1% ) – Musk–Trump tensions eased, calming investor nerves.

• $SEDG ( ▼ 0.48% ) – UBS upgrade boosted solar outlook.

📉 Top 3 Losers

• $SJM ( ▲ 1.55% ) – Weak sales and downbeat forecast hit shares.

• $CEG ( ▲ 0.4% ) – Pullback after strong run; profit-taking.

• $CRM ( ▼ 0.86% ) – Mild tech dip, post-rally consolidation.

🐦 Best Tweet of the Week