Week Ending June 13th, 2025 
Tuesday's Market Moves

Dow Jones - 42,866.87 (+0.25%) 

Nasdaq - 19,714.99 (+0.63%) 

S&P 500 - 6,038.81 (+0.55%) 

Weekly Recap

• Stocks continue to move north. U.S. stocks climbed for a second straight day on Tuesday, boosted by progress in U.S.-China trade negotiations. Both the S&P 500 and Nasdaq are now nearing their record closing highs. The S&P 500 has surged over 20% since its April 8 low and is approaching its all-time high from February 19.
• European and Asian markets were mixed. Overseas, European markets traded mixed following an improvement in the eurozone Sentix economic index. Markets in Asia were also mixed overnight
• Gold and silver retreated. The yellow metal was less than 0.5% during the session to hover near $3,347 per ounce. Silver hovered near $36 per ounce, its highest level since February 2012.
• Bitcoin headed towards a new record. The leading digital currency hovered near $110,000.
• Tesla jumped as Elon Musk’s feud with President Trump dissipated. Investors are turning their attention to Tesla’s upcoming quarterly delivery report, expected in early July. Wall Street anticipates second-quarter deliveries of 412,000 vehicles, representing a 7% year-over-year decline, according to Barron's.
• Scott Bessent is in line to take Jerome Powell’s Position as Fed Chair. Treasury Secretary Scott Bessent is emerging as a potential candidate to replace Jerome Powell as Chair of the Federal Reserve, according to an increasing number of advisers both inside and outside the Trump administration.
• Meta struck a big AI deal. Meta Platforms (META) has agreed to acquire a 49% stake in artificial intelligence startup Scale AI for $14.8 billion, according to The Information, which cited two people familiar with the deal. 
• Apple unveiled ‘Liquid Glass.’ The iPhone maker revealed a major redesign of its operating system on Monday, dubbed "Liquid Glass."
• U.S. trade talks in London are going well. The second round of critical tariff negotiations between the United States and China is currently taking place at Lancaster House, a historic government venue in London. “We’re doing well with China. China’s not easy,” President Trump told reporters at the White House. “We’re getting good reports from the talks.”
• Big economic data today. Investors are now anticipating the May Consumer Price Index (CPI) report.
• Videogame retailer GameStop reported a decline in quarterly revenue on Tuesday. The company's first-quarter revenue fell 17% to $732.4 million, compared with $881.8 million a year ago.
• Boeing erased gains of as much as 2% on Tuesday. This is despite booking 303 new orders in May, the most since December 2023.
• Disney was the No. 1 trending ticker on Yahoo Finance. Shares jumped 2% on the heels of peer Warner Bros. Discovery's announcement to split into two publicly traded companies.
• IBM stock added more than 2%. The cloud, software, and network infrastructure giant announced it is building the world's first large-scale quantum computer.
• Shares of J.M. Smucker sank. The food producer forecast full-year profit below Wall Street expectations.
• Casey’s General Stores (CASY) jumped. The company reported quarterly earnings and revenue that significantly surpassed analyst expectations. Comparable store sales (excluding fuel) increased 1.7%. Looking ahead, the company forecasts a stronger same-store sales growth of 2.5% for fiscal 2026 and announced a dividend increase.
• McDonald’s (MCD) fell 1.4%. The fast-food giant received a downgrade from Buy to Sell by Redburn Atlantic, which raised concerns about the potential impact of weight-loss drugs on consumer behavior. This comes a day after Morgan Stanley downgraded the stock to Equal-Weight, citing multiple challenges including reduced personal incomes, growing health consciousness, and international difficulties.
• Taiwan Semiconductor Manufacturing (TSM) climbed 1.8% pre-market. The company announced a 40% increase in May revenue, driven by strong demand for AI-related chips.
• J.M. Smucker (SJM) dropped 8.4% before the market opened. Although the company beat earnings and revenue estimates, its fiscal 2026 outlook disappointed investors. The projected earnings range fell below consensus, with the company citing a “dynamic and evolving external environment,” including the effects of tariffs.
• Shares of Designer Brands (DBI) plummeted more than 20%. The DSW parent reported first-quarter results that missed analyst estimates and withdrew its fiscal 2025 outlook.
• News from Starlink. Elon Musk’s internet service Starlink has applied for permission to operate a satellite connection in southwestern Switzerland, according to the Swiss communications office (BAKOM).

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"Over time, bitcoin has proven itself to be a better hedge against inflation than many other asset classes, even gold ... adding bitcoin to a corporate treasury seems like a prudent choice." 

-Elliot Johnson, CEO of the Bitcoin Treasury Corporation

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Most Active Stocks

• Tesla (TSLA)
• Nvidia (NVDA)
• Meta (META)
• IBM (IBM)
• Apple (AAPL)

Weekly Notables

Apple iPad Gets Big Upgrades

Apple’s (AAPL) iPad is on track to receive substantial upgrades that could greatly enhance its viability as a laptop alternative. These improvements arrive with iPadOS 26, unveiled at Apple’s WWDC 2025 event on Monday. A standout among the updates is the introduction of advanced multitasking capabilities, which aim to make the iPad operate more like a Mac and less like an iPhone. “Apple’s iPad is getting some major enhancements that should make it a far more useful laptop replacement.”

FDA Approves Merck’s RSV Shot for Infants

The Food and Drug Administration has approved Merck’s latest treatment designed to protect infants from respiratory syncytial virus (RSV) during their first season of exposure, clearing the way for its release ahead of the approaching fall and winter virus season. The therapy, which will be sold under the name Enflonsia, is set to compete in a market currently led by Sanofi and AstraZeneca’s Beyfortus—a leading monoclonal antibody injection. 

Earnings Spotlight: Oracle (ORCL)

Technology company Oracle Corporation is scheduled to announce its results for the fourth quarter of FY25 today. Oracle stock has rallied over 42% in the past year, fueled by strength in cloud infrastructure and its AI-driven services. Wall Street analysts expect the company to report earnings of $1.64 per share, reflecting about 1% year-over-year growth.