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Monday, June 9

Noteworthy macro moves today: Bitcoin +2.0%. 

The U.S. stock market is experiencing a cautious upward trend as investors await the outcome of high-stakes trade talks between the United States and China, scheduled for today in London. This follows better-than-expected employment data released last Friday, which showed an increase of 139,000 jobs in May against forecasts of 130,000. The positive labor report has eased recession fears and tempered expectations regarding imminent interest rate cuts by the Federal Reserve.

In Asia, markets reacted positively to these developments with significant gains observed across major indices such as Japan's Nikkei and Hong Kong's Hang Seng Index ahead of today's negotiations on rare earth exports that are critical for various industries including technology and automotive sectors. However, European stocks have shown mixed performance due to ongoing uncertainties surrounding trade relations despite some optimism from recent economic indicators.

China’s latest economic data reveals persistent deflationary pressures; consumer prices fell by 0.1% year-on-year while producer prices dropped significantly more than expected at -3.3%. These figures highlight challenges within China's economy just before crucial discussions aimed at resolving tariff disputes with the U.S., raising concerns about potential impacts on global supply chains if no agreement is reached during this round of talks.

Bitcoin (BTC/USD) [+1.9%]
Bitcoin has increased in value, reflecting a daily return influenced by ongoing US-China trade talks in London, which are fostering positive sentiment for global trade relations. Concurrently, reports of a significant rise in China's exports suggest resilience in economic activity, potentially benefiting cryptocurrency valuations. Social media discussions reveal a notable deposit of USDC into HyperLiquid, which opened a long position in Bitcoin with substantial leverage. Additionally, digital asset funds have seen significant inflows over the past weeks, although Bitcoin has experienced outflows for the second consecutive week. Optimistic sentiments persist on social media regarding Bitcoin's potential to reach new all-time highs, particularly above $108.5k, amidst political developments and corporate actions such as The Blockchain Group's efforts to raise over $340 million for Bitcoin acquisition.

WBD | +9.0% | +2.4B
Warner Bros Discovery Inc | Movies & Entertainment
Warner Bros. Discovery Inc. announced plans to separate into two publicly traded companies by mid-2026 in a tax-free transaction. The new Streaming & Studios entity will include Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO, and HBO Max, led by CEO David Zaslav. The Global Networks entity will encompass CNN, TNT Sports, Discovery, and Discovery+, managed by Gunnar Wiedenfels. To facilitate this transition, the company has secured a $17.5 billion bridge facility from J.P. Morgan. Additionally, there are reports that China will import more international films, which may impact various media companies, including Warner Bros. Discovery.

CCJ | +6.3% | +1.8B
Cameco Corp | Coal & Consumable Fuels
Cameco Corp reports an anticipated increase of approximately $170 million in its 49% equity share of Westinghouse Electric Company's 2025 adjusted EBITDA. This rise is linked to Westinghouse's role in constructing two nuclear reactors at the Dukovany power plant in the Czech Republic. The financial benefits for Westinghouse as a subcontractor during this project will include fuel fabrication services. The compound annual growth rate for Westinghouse's adjusted EBITDA is projected to remain between 6% and 10% over the next five years, excluding the anticipated $170 million increase. Social media discussions have highlighted these developments, noting that Cameco formed a second handle while developing the right side of its cup base, characterized by strong accumulation and heavy weekly volume.

HOOD | -4.1% | -2.6B
Robinhood Markets Inc | Investment Banking & Brokerage
Robinhood Markets Inc. experienced a notable decline in its share price, attributed to the announcement from S&P Dow Jones Indices that there would be no changes to the S&P 500 membership. This news, released shortly ago, followed speculation regarding Robinhood's potential inclusion in the index, which had previously driven its stock to recent highs. Shares were down significantly in premarket trading, priced at 71.2. Additionally, Redburn-Atlantic downgraded Robinhood from Neutral to Sell, with a revised price target of 48, up from 40, further contributing to the negative sentiment surrounding the stock. Social media discussions highlighted confusion regarding Robinhood's status in the S&P 500, with conflicting posts about its inclusion leading to a drop in stock price and frustration among users.

MRK | +2.3% | +4.7B
Merck & Co Inc | Pharmaceuticals
Merck & Co Inc has announced that its cholesterol drug, enlicitide decanoate, has met primary and all key secondary endpoints in two Phase 3 trials, the CORALreef HeFH and CORALreef AddOn studies. These trials showed statistically significant reductions in low-density lipoprotein cholesterol (LDL-C) compared to placebo and other non-statin therapies. Importantly, there were no significant differences in adverse events between the treatment and control groups. This marks a significant advancement in Merck's clinical development program, which will assess enlicitide's safety and efficacy across approximately 17,000 patients. The findings are set to be presented at an upcoming scientific congress.

TSLA |-1.8% | -16.5B
Tesla Inc | Automobile Manufacturers
Tesla Inc. (NASDAQ: TSLA) is experiencing downward pressure, reflecting broader trends in the Automobile Manufacturers sector. In pre-market trading, Tesla's stock declined significantly following a broker downgrade to "Hold," adding to a substantial drop over the previous week that erased approximately $152 billion in market capitalization. The ongoing public feud between CEO Elon Musk and former President Donald Trump has escalated, with Trump suggesting a review of Musk's federal contracts, potentially affecting Tesla's financial standing. Furthermore, Tesla is in the final stages of price negotiations with China and the EU concerning electric vehicles, although an agreement has yet to be reached. Compounding these issues, the company faces scrutiny over its Full Self-Driving system amid an investigation linked to a fatal crash, while recent leadership changes raise concerns about talent retention and innovation.

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