Happy Bobby Bonilla Day to all baseball fans and savvy dealmakers out there! If you’re not a sports enthusiast, here’s why you should care about this oddly charming financial tale: every July 1, former MLB player Bobby Bonilla receives a $1.19 million check from the New York Mets, thanks to a financial strategy from 2000 that turned a $5.9 million contract buyout into $30 million in payments spread out through 2035. Sounds like winning without even playing, right?
Now, grab your coffee (or tea), and let's get into today's top stories!
📈 Markets Snapshot
Stocks up, dollar down—it’s been a ride.
Nasdaq: 20,369.73 (+0.48%)
S&P 500: 6,204.95 (+0.52%)
Dow: 44,094.77 (+0.63%)
10-Year Treasury: 4.230% (-5 bps)
Bitcoin: $107,481.08 (-0.01%)
What’s brewing?
The S&P 500 wrapped up its strongest quarter since December 2023, with Meta reaching an all-time high, propelled by Mark Zuckerberg’s aggressive AI hires. Meanwhile, investors are giddy about a potential Federal Reserve rate cut later this year, fueling optimism in corporate earnings.
💵 Economics
Greenback Slinks While Stocks Surge
The US dollar is having a rough year, falling 10% last month alone—its worst first half in over 50 years. Here’s why the mighty greenback is losing some luster:
Global investors are ditching US government bonds over concerns about the long-term stability of the economy, compounded by shifts in trade policy and inflationary fears.
The “One Big Beautiful Bill,” expected to add $3.3 trillion to the national debt, further dampens confidence in the dollar’s appeal.
What’s the upside? A weakening dollar could bolster US exporters and boost the foreign revenue of tech giants like Apple and Microsoft. But on the flip side, your European summer vacation isn’t getting any cheaper.
Big picture? The dollar’s roller-coaster ride could challenge its role as the world’s favorite reserve currency.
🌍 Around the World
Headlines You Need Today
🇺🇸 Senate Tackles a Marathon Tax Bill Session
Last night, senators pulled an all-nighter to debate amendments to the GOP tax bill. Key issues included Medicaid cuts, clean energy credits, and extensive wrangling to pass the legislation by July 4.
🇨🇦 Canada Ditches Digital Tax to Revive US Trade Talks
Facing stalled trade negotiations, Canada scrapped a tax on digital services. This decision helps smooth relations with President Trump, who also paused discussions over new tariffs against Japan.
🏗️ Home Depot Bets on the Pros
Home Depot is acquiring building distributor GMS for $4.3 billion as it shifts focus from DIY consumers to professional contractors in a post-COVID era.
Looking for deeper global insights? Head over to today’s full World section on Substack!
☕ Food & Beverage
Luckin Coffee Makes a Splash in the US
Why should Starbucks feel nervous? Luckin Coffee, China's largest coffee chain, just planted its first US flag with two stores in NYC. Famous for its quirky menu and unbeatable prices, Luckin already outperformed Starbucks in China. Will this disrupt the US market? Time will tell, but Starbucks isn’t in a great position—sales are already declining on its home turf.
Coffee enthusiasts—what’s the most adventurous flavor you’d try? Share your vote below!
🎯 Stat of the Day
3 New Teams Join the WNBA Lineup
Expanding its horizon, the WNBA is adding 3 new franchises—Cleveland in 2028, Detroit in 2029, and Philadelphia in 2030. With rising attendance and climbing franchise valuations (up an average of 180% this year), the league is thriving. Now players are holding out for higher salaries to reflect the growing pie.
Tipoff Thoughts: Who’s your dream player for a new team? Drop your pick in the comments!
🔗 Quick Brew—What Else is Brewing?
Wildfires erupt tragically: Two firefighters lost their lives as a man set blazes and then opened fire on responders in Idaho.
Backlash at Harvard: Federal investigation finds the university failed to curb antisemitism.
Moderna’s latest innovation: Say hello to a combined flu and COVID vaccine waiting for approval.
Warren Buffett’s billions: The legendary investor just donated $6B to charity, adding to his $60B+ lifetime philanthropy.
💡 Your To-Do List
Start your day smart with these curated gems:
Snack smarter: Make delicious s'mores from the comfort of your kitchen. Check it out!
Brush up on DIY skills: Master vinaigrettes at home—never buy dressing again!
Plan big: Discover the cost of building dream teams, with hidden hiring costs you never expected.
Have a cool rec? Comment below, and we may feature it next week!
🎉 Fun & Games
Test your movie knowledge!
Which ranks higher, Parasite or Spirited Away?
No Country for Old Men or There Will Be Blood?
Bridesmaids or Moneyball?
Borat or Inception?
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