TLDR

MARKET RECAP → Stocks closed lower Friday as investors weighed fresh economic data and cautious Fed signals against a backdrop of lingering rate uncertainty. In the crypto environment Bitcoin (BTC) continued downward pressured by trending headlines. $BTC.X ( ▲ 2.24% ) 

Markets Stumble on Middle East Shock → Markets nosedived as Israel bombed Iran and oil spiked, sparking safe-haven rallies and defense stock surges. Meanwhile, payment giants took a hit on stablecoin disruption threats from Walmart and Amazon.

AMAZON'S HEALTH CARE SHAKEUP → Amazon (AMZN) is merging its pharmacy and virtual care units after key execs quit, aiming to cut complexity and get health ambitions back on track. So far, Amazon’s health push has sputtered, struggling against entrenched rivals. The shakeup might help — or it might just be more corporate whack-a-mole.

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Markets Stumble on Middle East Shock

🛑 Markets Crater on Middle East Escalation. The Dow plunged 800 points Friday after Israel launched major airstrikes on Iran, igniting regional retaliation and rattling global investors. Oil surged 6%, defense stocks soared, and tech darlings like Nvidia (NVDA) slid as traders fled risk assets.

📈 Safe Havens and Oil Boom. Brent and WTI crude shot up as fears over Middle East oil supply intensified. Gold hit a near two-month high, and defense names like Lockheed Martin (LMT) and RTX (RTX) climbed 3–5% on heightened conflict exposure. Meanwhile, Palantir (PLTR) bucked the tech sell-off with a 1% gain, riding its defense credibility.

📉 Consumer Confidence Surges, But Market Ignores It. The University of Michigan’s consumer sentiment index jumped nearly 16% to 60.5 in June—well ahead of forecasts—but was swiftly overshadowed by geopolitical chaos. Investors remained fixated on oil-driven inflation risks and global uncertainty.

TECH

Amazon's Health Care Shakeup

🩺 Amazon (AMZN) is reshuffling its health care deck. Following the sudden departure of two senior leaders, Amazon is folding its virtual care and pharmacy units into a single business under Neil Lindsay, senior VP of health services. The move aims to streamline operations as Amazon tries to solidify its health care ambitions amid fierce competition and high-profile stumbles.

💊 Amazon Pharmacy faces growing pains. Despite its big bet on pharmacy and virtual care, Amazon has struggled to gain significant market share. The company’s health efforts, including Amazon Clinic and Amazon Pharmacy, have faced regulatory hurdles, execution challenges, and an inability to break consumer loyalty to established players like CVS (CVS) and Walgreens (WBA).

📈 What’s next for Amazon Health? The reorganization is pitched as a way to sharpen Amazon’s focus on delivering integrated, affordable health solutions. But with executive turnover and operational resets, questions linger about whether Amazon can truly disrupt the sector or if it’s destined for more trial and error.

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