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TLDR

MARKET RECAP → Stocks kept climbing on Friday with the S&P 500 hitting a new record high. The upward movement occurred amongst trade angst, specifically after Trump released comments on tariffs between the U.S. and Canada.

TRUMP HALTS TALKS, THREATENS TARIFFS → Trump pulled the plug on trade talks with Canada after it announced a digital tax on U.S. tech firms. He’s now threatening new tariffs, reigniting tensions that spooked markets and alarmed allies.

COINBASE LEADS THE S&P 500 → Coinbase (COIN) is the S&P 500’s top stock for June, up 30 percent and 400 percent year to date. Analysts still see more upside as crypto trading surges and Coinbase branches into broader financial services.

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MARKETS

Market Snapshot

Today’s S&P 500 Heatmap

Notable Earnings Next Week

POLL OF THE DAY

Politics

Trump Halts Talks, Threatens Tariffs

Canada Tariff Talks Implode: Trump torpedoes U.S.-Canada trade talks over a new Canadian tech tax, calling it a hostile move against American companies like Amazon (AMZN), Meta (META), and Google (GOOG). His abrupt exit from negotiations leaves a proposed economic and security pact in limbo.

Tariff Threats Back On: Trump says steep tariffs on Canadian imports will be reinstated within a week, citing the need to “protect American innovation.” Previous duties on Canadian aluminum, lumber, and autos may return in force, stoking fears of a broader North American trade war.

Markets Shudder, Allies Bristle: Markets dipped slightly as investors digested the breakdown. U.S. tech giants could face retaliatory taxes, while Canadian officials accused Trump of “economic coercion,” signaling that global allies may be rethinking post-2024 diplomatic strategy.

Crypto

Coinbase Leads the S&P 500

Best Performer On The Street: Coinbase (COIN) is the S&P 500’s best performing stock for June, up over 30 percent. This continues a monster run for the crypto exchange, which has skyrocketed nearly 400 percent over the past year, fueled by the crypto rebound and ETF fueled trading volumes.

More Fuel In The Tank: Analysts say the rally may not be over. Trading activity remains strong, Bitcoin ETF flows are sticky, and regulatory clarity is improving. Oppenheimer just raised its price target to 320 dollars, about 20 percent higher from here.

Not Just About Crypto: Coinbase is not just riding Bitcoin (BTC). It is pivoting into broader financial services including stablecoins, custody, and institutional clients. That diversification could help insulate it from the next crypto winter.

BULL VS. BEAR

KEEP READING

Quantum computing is having a moment. But the technology remains futuristic (CNBC)

China confirms details of U.S. trade deal (CNBC)

Core inflation rate rose to 2.7% in May, more than expected, Fed’s preferred gauge shows (CNBC)

Trump calls New York Democratic mayoral candidate Zohran Mamdani ‘a communist’ (CNBC)

Apple seeks to avoid a crash with ‘F1 The Movie’ (Morning Brew)

What is a Money Order? How a Money Order Works (ML)

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• Perplexity — Perplexity AI is an AI-chatbot-powered research and conversational search engine

• The Market Ear — Live news, analysis and commentary on what moves markets and trading

• Coinmarketcap.com — Crypto market data

• Finviz — Financial visualizations

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• Dataroma — Track stock picks and portfolios of legendary value investors such as Warren Buffett

• ChatGPT — Large language model-based chatbot powered by generative AI

• Vimcal — Lightning-fast calendar and AI scheduling assistant

• AltIndex — Alternative datasets to uncover unique insights

• GFR Smart Stock Selector — Filters stocks to help investor choices

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