Key Takeaways
- Circle’s blockbuster IPO marks crypto’s Wall Street comeback
Fueled by a friendlier regulatory environment under Trump. - Political risk hits tech valuations
As the Trump–Musk clash turns personal and knocks billions off Tesla’s value. - AI investment surges
With Meta’s $10B talks to back Scale AI highlighting growing consolidation in the space. - Banks pivot toward digital assets
With Deutsche Bank joining the tokenized deposit wave alongside JPMorgan and Santander. - Markets show strength but caution lingers
With the S&P 500 crossing 6,000 even as investors hedge against credit risk and inflation.
IPO’s in the Week
- Omada Health (OMDA, Nasdaq), Digital health company Omada Health went public on June 6, 2025, offering 7.9 million shares at $19.00 each, raising approximately $150.1 million. The company, which focuses on chronic disease management through digital care programs, surged 21.05% on its first day of trading.
- Circle Internet Group (CRCL, NYSE), Circle, the fintech firm behind the USDC stablecoin, launched its long-awaited IPO on June 5, 2025. It raised $992 million by selling 32 million shares at $31.00 per share. The stock jumped 29.40% in its debut, reflecting strong investor interest in blockchain infrastructure plays.
Markets Weekly
- S&P 500 closed at 6000.36, up 103.68 points or 1.76% for the week.
- Russell 1000 ETF closed at 329.47, up 6.24 points or 1.93% for the week.
- Russell 2000 closed at 2132.25, up 65.75 points or 3.18% for the week.
- Russell 3000 closed at 3415.38, up 64.16 points or 1.91% for the week.
- VIX closed at 16.77, down 3.04 points or 15.35% for the week.
- DJIA closed at 42,762.87, up 562.93 points or 1.33% for the week.
- Nasdaq closed at 19,529.95, up 466.89 points or 2.45% for the week.
- Bitcoin closed at $105,615.63, down $34.18 or 0.03% during 5 trading days.
- Ethereum closed at $2,416.46, down $119.72 or 4.72% during 5 trading days.
- Solana closed at $147.91, down $9.87 or 6.26% during 5 trading days.
- XRP closed at $2.1624, down $0.017 or 0.77% for the week.
- Gold closed at $3,322.70, up $25.80 or 0.78% for the week.
- Silver closed at $36.03, up $2.58 or 7.71% for the week.
- WTI closed at $64.58, up $3.47 or 5.68% for the week.
- Brent closed at $66.47, up $3.43 or 5.44% for the week.
- U.S. stocks hit their highest level since February as strong jobs data eased slowdown fears, pushing the S&P 500 to 6,000 with broad sector gains.
- Global investors are piling into South Korean equities as new pro-reform leadership sparks a bull market and revives hopes for stronger shareholder returns.
- Rio Tinto is seeking a multibillion-dollar bailout for its Tomago aluminum smelter in Australia, citing energy cost spikes and plans to boost renewable power use by 2030.
- China’s central bank raised gold reserves for a seventh straight month in May, adding 60,000 ounces as part of a broader move to diversify away from U.S. dollar assets.
- Despite strong recent gains, the S&P 500 is struggling to break above record highs, with traders awaiting key catalysts like inflation data and tariff clarity.
- Money managers are hedging for downside risk amid low volatility and concerns over sticky inflation and unresolved trade disputes.
- Corporate cash levels are falling among S&P 500 companies outside the mega-cap tech sector, raising concerns about slowing profits and balance sheet risk.
- Tight credit spreads leave little margin for error, with analysts warning that rising inflation or volatility could sharply increase refinancing costs.
- Emerging-market issuers raised $331 billion in hard-currency debt this year as investors chased yield amid a weaker dollar and tight U.S. spreads.
- Venezuela plans a 50% fuel price hike to offset revenue losses after Chevron and other oil majors halted operations under renewed U.S. sanctions.
- Investors are pulling money from gold-mining ETFs despite record gold prices, signaling fading momentum in the sector after a torrid early-2025 rally.
- Bankrupt fintech Synapse has moved to liquidate after failing to sell its assets, leaving customer funds frozen and no path forward for reorganization.
- Silver Point and Elliott have proposed a £10 billion rescue plan for Thames Water, including deep creditor haircuts and a £4 billion equity injection to avert collapse.
- Fed’s Harker urged patience on rate cuts, saying officials should wait for clearer data, though a potential cut later this year remains on the table if inflation eases.
- Texas removed BlackRock from its fossil-fuel blacklist after policy shifts, but legal challenges over ESG practices persist in other states like Indiana and Oklahoma.
- Circle shares surged 168% in their NYSE debut, reflecting revived investor appetite for crypto as Trump-era policies boost market optimism.
- Tesla shares sank 14% as the Trump–Musk feud escalated, dragging tech stocks lower amid broader concerns over slowing economic data.
- JPMorgan CEO Jamie Dimon said he’s not retiring anytime soon, signaling continuity at the helm as succession speculation continues to swirl.
Politics Weekly
- President Trump ordered 2,000 National Guard troops to Los Angeles for 60 days to control unrest following federal immigration raids.
- Elon Musk walked back his threat to decommission SpaceX’s Dragon spacecraft after clashing with Trump over federal contracts and tax policy.
- President Trump warned Elon Musk of “serious consequences” if he backs Democrats opposing the GOP tax bill, calling their relationship over.
- President Trump’s renewed outreach to Xi Jinping and upcoming talks in London signal momentum, but global trade deals remain elusive.
- Russia and Ukraine blamed each other for delays in finalizing their largest planned prisoner swap since the full-scale invasion began.
- French President Emmanuel Macron will visit Greenland on June 15 to discuss Arctic security and resources, as Trump renews interest in acquiring the island.
- Iran claimed its intelligence services obtained thousands of sensitive Israeli nuclear files, including documents, images, and videos, though details remain undisclosed.
- Ukraine rejected Russia’s claim of a ground incursion into Dnipropetrovsk, calling it disinformation as front-line fighting remains concentrated in Donetsk.
- The UK pledged due diligence on China’s planned London embassy amid U.S. pressure, with Trump warning the project could jeopardize UK–US trade talks.
- The UK aims to finalize a trade deal with the US within two weeks, as both sides work to resolve key conditions ahead of the July 9 deadline.
- A U.S. trade delegation extended its stay in India as momentum builds toward finalizing a phased deal ahead of the July reciprocal tariffs deadline.
- Thailand and Cambodia agreed to de-escalate a recent border standoff, with military adjustments and bilateral talks set for June 14 in Phnom Penh.
- The U.S. Interior Department proposed rescinding 2024 restrictions on oil and gas development in Alaska’s 23-million-acre petroleum reserve, citing overreach of authority.
Technology Advancements in the Week
- Apple’s WWDC 2025 event will unveil redesigned interfaces across iOS, macOS, and other platforms, shifting to a year-based software naming system.
- Meta is in talks to invest over $10 billion in Scale AI, marking its largest-ever external AI bet to support the expansion of its Llama model ecosystem.
- Renault is in talks with France’s defense ministry to produce drones in Ukraine, marking a strategic pivot into military tech following its exit from Russia.
- Crypto exchange Gemini confidentially filed for an IPO after Circle’s blockbuster debut, as the Winklevoss-led firm rides Trump-era momentum and rising digital asset valuations.
- The UK is considering lifting its ban on retail crypto ETPs to compete with the booming U.S. market, as Bitcoin and Ether products gain global traction.
- Deutsche Bank is exploring stablecoins and tokenized deposits, including issuing its own digital token, as global banks accelerate their push into blockchain-based payments.
- Taiwan’s Yageo plans to retain Shibaura’s advanced AI sensor technology in Japan if its acquisition succeeds, as it competes with Minebea in a heated takeover bid.
- The U.S. Commerce Department issued new rules for its $43B broadband fund, pushing states to revise plans for faster, cheaper, tech-neutral internet expansion.
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