|  | Nasdaq | 25,709.43 | |
|  | S&P | 7,383.74 | |
|  | Dow | 50,866.78 | |
|  | 10-Year | 4.536% | |
|  | Bitcoin | $63,054.73 | |
|  | Campbell’s Co. | $21.68 | |
| | Data is provided by |  | *Stock data as of market close, cryptocurrency data as of 11:00pm ET. Here's what these numbers mean. | - Markets: Yesterday marked 100 days since the war in Iran started. And while oil prices are below their recent highs, energy prices are still well above pre-conflict levels, and the future of the Strait of Hormuz remains in question.
- Stock spotlight: We’ll get an update on stocks (and soups, stews, and broths) when Campbell’s reports earnings today. It’s been a rough year for the food company, which found out on Friday that it’s losing its spot in the S&P 500.
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Can Siri do more than ruin the best part of a song by telling you to turn? We’ll find out this week at Apple’s annual Worldwide Developers Conference (WWDC), where the company is expected to debut a revamped version of its digital voice assistant, along with some other AI-powered improvements. What’s on the line? Only CEO Tim Cook’s legacy. A Siri of unfortunate events: It’s been 15 years since Apple debuted its virtual assistant, and lately, it’s been feeling even older. While ChatGPT and Claude vibe-code their way through Silicon Valley, Siri has been relegated to glorified kitchen timer status. That’s why Apple announced it would be injecting the feature with some AI horsepower…in 2024. Now, after a series of delays, we’re finally expected to see the fruits of Apple’s labor. Per Bloomberg: - Siri will be powered by Google’s Gemini model.
- It’s expected to get its own standalone chatbot app.
- Siri will be able to handle multistep instructions; work across iOS, iPadOS, and macOS; and perform actions within certain apps.
A last chapter for the Cook book This year’s WWDC, which runs until Friday, is Cook’s last as CEO. And despite his undeniable track record of optimizing operations and building shareholder value, he’s got an AI-shaped hole on his résumé. While every other tech company on Earth seemed to be announcing gajillion-dollar AI deals, Cook took a more cautious approach. But after Apple Intelligence, the company’s previous foray into AI, tripped over the starting gate, Cook dialed up the intensity and took a more hands-on role than he usually does, Bloomberg’s Mark Gurman reported. Tern the page: Building a solid AI foundation would also be a nice parting gift for Cook to give incoming CEO John Ternus, who takes over in September.—BC | | |
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Don’t be intimidated by new AI tools or shifting talent pools. Master them with insights from authorities in the field. Grab your free virtual ticket to Indeed FutureWorks and get insights from featured speakers like: - Ethan Mollick, a professor at the Wharton School who studies the effects of AI on work, entrepreneurship, and education
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- Joseph Fuller, Harvard Business School professor and host of the Managing the Future of Work podcast
Indeed FutureWorks is live this September 2–3. Register for free now. |
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Tensions mount between Israel and Iran. On Sunday, Israeli warplanes struck Beirut’s southern suburbs, targeting what Prime Minister Benjamin Netanyahu’s office called Hezbollah command centers, in retaliation for a rocket fired toward northern Israel. Later on Sunday, Iran retaliated by launching missiles toward Israel, which the country intercepted. Israel then responded by barraging targets in southwestern Iran. Early Monday local time, the Houthis, an Iran-backed militia in Yemen, announced a blockade of Israel in the Red Sea. On Sunday, President Trump told Fox News that Israel’s attack on Beirut had not been coordinated with the US, and he was “not happy about it.” Severe thunderstorms impacted millions of Americans this weekend. And along with the rain came lightning, hail, and strong winds in many states. Over 50 million people were in the storm threat zone as of Saturday afternoon, including the Northeast, Indiana, and West Virginia. Texas and Missouri were under flash flood watch through midday yesterday due to the thunderstorms. The Northern Plains also saw thunderstorms with large hail and damaging winds yesterday. More than 200,000 customers in the Northeast alone lost power, and 50,000 people in Pennsylvania remained without it into yesterday. Pope Leo arrived in Spain for a weeklong visit. Leo touched down in Madrid on Saturday and celebrated Mass for a crowd of 1.2 million people there yesterday. It’s the first papal visit to Spain in 15 years, and Leo wants to emphasize the country’s influence on the history of Christianity at a time when young Spaniards are increasingly returning to Catholicism. Bad Bunny was also in Madrid this weekend, which the pope did not shy away from. He said on Saturday, “If they are confronted with the question ‘Do you want to go see Bad Bunny or do you want to go to see the pope?’ I think many will see Bad Bunny. But I think there will also be a few here to see the pope. And that says something, you know.”—HVL
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It may be the best of times and the worst of times for Broadway, according to industry watchers. Not because there’s an adaptation of A Tale of Two Cities starring Michael Fassbender playing all 24 characters scheduled to hit the Great White Way, but because there very plausibly could be. Ticket sales for the Broadway season that just ended on May 24 exceeded $1.9 billion, a new record. But the theatrical genre is in “this is fine” territory: - That total relied on fans flocking to see big-name movie stars tackle roles in plays. A revival of Every Brilliant Thing, a one-man play starring Daniel Radcliffe, for example, was one of the most successful shows of the season.
- But “successful” is subjective—it was considered a “big win” when the play officially recouped its investment in early May. Only three of more than 24 productions did so this season, according to The Hollywood Reporter.
Meanwhile, the art form that put Broadway on the map—original musicals—are increasingly risky and costly for investors. Of the 35 productions that opened this season, 12 were musicals, and only six were considered original. And of the four nominated for best new musical at last night’s Tony Awards, three were based on movies or TV shows. Big picture: The Broadway League thinks the surge in ticket sales means that consumers are still willing to splurge on experiences. See all this year’s Tony winners here.—HVL | | |
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$DRNI prepares for potential Nasdaq listing. But the real opportunity is now. Doroni just unveiled the showroom model of a flying car that’s already been preordered by 600+ people, representing $240m in potential revenue. Now, they’re working toward their first commercial deliveries by 2028. By 2032, they’re targeting $1.4b in annual revenue. Invest in Doroni at $3.10/share by June 18. |
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SpaceX plans to go public: CEO Elon Musk could become a trillionaire this week, if SpaceX debuts on the Nasdaq on Friday as expected. The rocket company’s IPO is expected to be light-years beyond anything world markets have seen before, eclipsing the size of previous monster IPOs like Alibaba and Saudi Aramco. When all of the stardust settles, SpaceX is expected to have a $1.77 trillion valuation, which would make it the seventh-biggest company in the US by market cap, per CNBC. The World Cup kicks off: North America officially gets the ball rolling on the world’s biggest sporting event this Thursday. Four dozen teams are competing in the men’s World Cup this year, with matches spread across the US, Canada, and Mexico through July 19. FIFA predicts that the weeks-long soccer tournament could inject billions into the host nations’ economies, but the actual math is more complicated than that. It has to be a good time to be a North American scarfmaker, though, even if it is hot outside. An interest in inflation: New Federal Reserve Chairman Kevin Warsh will have some fresh inflation data to consider before the central bank makes an interest rate decision next week. The consumer price index report will be released on Wednesday, and the producer price index report will be released on Thursday. Interest rate hikes are looking more likely later this year, after last month’s jobs report came in stronger than expected. President Trump told Meet the Press that while he wants rates lowered, Warsh should “do whatever he wants.” But wait, there’s more: - The NBA Finals continue. The New York Knicks are up 2–0 on the San Antonio Spurs. Game 3 is tonight, Game 4 is on Wednesday, and Game 5, if necessary, will be held on Saturday.
- The NHL Stanley Cup Final is also continuing this week. The Vegas Golden Knights have a 2–1 series lead on the Carolina Hurricanes. Game 4 is tomorrow night, Game 5 is on Thursday, and Game 6, if necessary, will be on Sunday.
- Oracle will report earnings on Wednesday, and Adobe will report on Thursday.
- Steven Spielberg’s latest film on extraterrestrial life, Disclosure Day, comes out in the US on Friday.
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Bosnia and Herzegovina apparently isn’t taking any chances when it comes to properly fueling for this year’s World Cup soccer tournament. Whenever the national team plays a match, the world’s biggest Bosnian coffee pot will reportedly be nearby. The pot holds thousands of cups of joe, making it barely bigger than your mom’s Stanley tumbler. It made an appearance on Saturday in St. Louis—home to the largest Bosnian population outside of Bosnia and Herzegovina—where the team played a friendly against Panama. Free coffee was given out to fans, which seems like something a stadium called Energizer Park should do more often.—BC |
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