TLDR

MARKET RECAP → The S&P 500 (VOO) remained steady on Friday but is set to break its four-week winning streak with a weekly decline.

ELON MUSK FACES SEC PROBE OVER TWITTER BUYOUT → The SEC probes Musk's Twitter buyout, alleging securities fraud. Musk counters with claims of harassment while mocking SEC Chair Gensler online. 🐌

UNITEDHEALTH CEO ADDRESSES TRAGIC LOSS→ UnitedHealth CEO Andrew Witty urged healthcare reform after the death of Brian Thompson, acknowledging flaws in the system and public frustrations. 🩺

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MARKETS

Today’s S&P 500 Heatmap

Notable Earnings This Week

TODAY’S TOP NEWS

Elon Musk Faces SEC Pressure

🕵️ The SEC issued a "settlement demand" to Elon Musk, alleging securities fraud tied to his 2022 Twitter buyout. Musk has 48 hours to respond or potentially face charges.

💸 The investigation centers on Musk's Tesla stock sales and stake in Twitter before the leveraged buyout. Musk's lawyer accused the SEC of a "six-year harassment campaign" against him.

🐌 Musk ridiculed SEC Chair Gary Gensler on X, sharing AI-generated images and demanding explanations. The probe adds to Musk's legal troubles, including a shareholder lawsuit over undisclosed Twitter investments.

TODAY’S TOP NEWS

UnitedHealth CEO Addresses Tragic Loss

🩺 UnitedHealth Group CEO Andrew Witty mourned the death of Brian Thompson and called for reform in the flawed U.S. health-care system. He highlighted the industry's patchwork nature and pledged to partner with stakeholders to improve care quality and lower costs.

💊 Witty acknowledged public frustration with insurers, especially over denied claims and rising costs, and admitted UnitedHealth shares responsibility for these challenges. He emphasized the need for better communication about coverage decisions and their clinical basis.

💼 Thompson’s tragic death has intensified criticism of the insurance industry, which already faced public resentment and financial pressures from rising medical costs and delayed surgeries post-pandemic. Witty expressed commitment to making the system work better.

BULL VS. BEAR

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