Someone back up the brinks truck, because we’re all swimming in dolla bills….
Today was nothing short of another day, another record. The S&P 500 just closed at 6,204.95, notching yet another ATH and daring shorts to do something about it. The Nasdaq tagged along with its own fresh ATH of 20,369.73, while the Dow hauled itself 275 points higher. Bigly.
(Source: Giphy)
If you haven’t noticed yet, the market is in full main character mode and it doesn’t give a flying “F” about macro “concerns”. Tariffs, trade wars, Canada trying to tax Google like it’s 2010… it’s all for the birds, and everyone from your grandma’s portfolio to Jamie Dimons is shrugging it off. Translation: The “wall of worry” is now just a speed bump for anyone still pretending to care about risk management.
Case in point: Coinbase was the S&P’s June prom queen, up 43% for the month after regulatory wins and a spot in the index. Robinhood popped 10% after continuing to milk every crypto mouth breather alive with tokenized stocks and crypto staking. BitMine Immersion Technologies soared 700% after announcing a $250 million ether-buying plan and putting Tom Lee (a.k.a. Wall Street’s bean counting final boss) in charge.
(Source: Giphy)
As for the regulars, Apple led the Dow today (+2%) after rumors Siri might finally get an upgrade that doesn’t make you want to throw your phone in the ocean. Nvidia (+0.15%), Microsoft (+0.30%), and Meta (+0.61%) all took names this Monday. As for Amazon, shares dipped -1.75% presumably after Jeff Bezos received backlash for tying the knot with the Temu Sofia Vergara (read: Lauren Sanchez) in Venice, while Tesla plunged -1.84%.
Elsewhere, banks are still alive and, frankly, thriving. The ‘who’s who’ of Wall Street greed glands (think: Goldman Sachs, JPMorgan, Wells Fargo, and Citigroup) all rose after passing the Fed’s stress test. Oh, and Bitcoin’s stuck at $107,500, which means nothing except that crypto Twitter is about to get even more insufferable.
(Source: X)
Moral of the story here? The market is in full “catch me if you can” mode. Meaning those who are still screaming “recession” are the same ones who bring up gold at Thanksgiving. Stocks are on a tear, and the only people losing sleep are the ones who convinced themselves this couldn’t possibly last. Spoiler: It did, and it’s on a friggin’ heater.
Of course, July could be a totally different story, especially as Trump’s 90-day reprieve is about to expire (with threats about “springing back” tariffs if foreign negotiators don’t play nice). But until then, the market has a fever, and the only medicine is new All-Time Highs. Meaning, keep your head on the swivel and place your bets accordingly. Until next time, friends…
If you read all of this, congrats for having a 10 second attention span (better than me). As always, here’s our heatmap for today.
At the time of publishing, Stocks.News holds positiosn in Meta, Microsoft, Apple, Amazon, and Tesla as mentioned in the article.
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