Markets
markets
Luke Kawa

Trump’s Truth Social might be worth more than Elon Musk’s X now

Elon Musk, the world’s richest man, has been at a number of Trump rallies recently to promote the former president ahead of next Tuesday’s election. Perhaps while the two are rubbing shoulders, he might get some tips from the Republican nominee on how to grow a social-media company.

A September 28 filing from Fidelity’s Blue Chip Fund, which owns a stake in the private company, suggests the firm thinks X is worth $9.4 billion. After Monday’s eye-popping 22% gain on record volumes, Trump Media & Technology Group (parent company of Truth Social) has a market capitalization of $9.48 billion.

We don’t want to take this judgement as gospel for myriad reasons. The numbers are close, the dates aren’t perfectly apples-to-apples, and there are different ways to assess how much companies are worth (market cap versus enterprise value, etc.). Also, this is just one institution’s view.

We doubt that Musk is sweating any of this too much, seeing as X’s operational performance is not his top priority in running the social-media platform, and also because of the bit about him still being the world’s richest man who saw that net worth swell by billions last week thanks to Tesla’s strong earnings report and guidance.

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Chicago Bulls player Michael Jordan is surrounded by NBA Championship trophies after his team defeated the Utah Jazz 90-86 to win the 1997 NBA Finals at the United Center in Chicago, IL.

Stock climb on US-Iran peace deal; semiconductors rally

This morning, President Trump and Iranian President Masoud Pezeshkian signed a memorandum of understanding aimed at ending the war.

Tasha Matsumoto6/18/26
Luke Kawa
6/18/26
Accenture poised for record one-day decline after Q3 new bookings and Q4 revenue guidance disappoint

Accenture isn’t cashing in too much from the AI revolution.

Accenture CEO Highlights AI's Role in Future Business at CES 2
markets
Helena Cheng

Intel surges after Trump announces US chip deal with Apple

Intel is soaring in early trading after President Donald Trump posted on Truth Social that Apple has agreed to work with the semiconductor giant to design and manufacture its chips domestically.

President Trump positioned the agreement as the latest victory for his administration’s industrial policy after the federal government acquired a 9.9% equity stake in Intel last year.

"Stupid Presidents took our Economy for granted, and let Taiwan and others steal our Semiconductor Factories," Trump wrote in the post. "We design everything, but we need to BUILD it here, NOW! So I decided to help Intel because we need to design and build our Chips right here in America... and, finally, Apple has agreed to work with Intel to design and build its Chips in America."

Intel reportedly reached a preliminary agreement back in May to manufacture chips for the Apple, which has been facing supply constraints for its iPhone as well other products. The deal could help Apple reduce its reliance on longtime partner TSMC by bringing more of its chip manufacturing stateside.

"This partnership helps Apple with chip development and manufacturing on US soil with greater focus on reducing dependence on Asian manufacturing facilities." Wedbush's Dan Ives commented in a company report. He has a $400 price target for Apple this year.

The timing aligns with Intel's technical roadmap. Earlier this week, Intel confirmed that its advanced, performance-boosted 18A-P process node officially entered its risk production phase. This move serves as a blueprint for both Intel chips and processors the company plans to build for foundry customers.

“The current capacity crunch is probably emboldening customers to give Intel a harder look at this stage than perhaps they might ordinarily be inclined to do as the prospect of more advanced capacity will take on higher value in a constrained environment,” wrote Bernstein analyst Stacy Rasgon. “We are sure that Trump’s encouragement is at least not going to hurt though.”

Momentum was built around Intel Foundry services as surging global AI demand continuously outpaced capacity. Earlier this month, Google reportedly placed an order with Intel to manufacture more than 3 million of its increasingly popular tensor processing unit chips in 2028. According to the report, Nvidia is also testing to see if Intel could manufacture its next-gen Feynman chips.

markets
J. Edward Moreno

Stocks rise after US, Iran sign peace plan

Stocks rose Thursday morning after President Trump and Iranian President Masoud Pezeshkian signed a memorandum of understanding aimed at ending the war, in another sign that a months-long war that caused energy prices to spike could be coming to an end.

Trump signed the MOU before a dinner in Versailles, France on Wednesday evening. The president previously announced that a deal had been reached on Sunday evening, saying that traffic through the Strait of Hormuz would resume and that the US naval blockade would be lifted.

The deal comes after both sides exchanged attacks last week, escalating tensions to some of the highest levels since the US and Israel struck Iran in late February.

The price of Brent Crude ticked even lower after dropping on Sunday, sitting at about $76 a barrel. Oil giants like Shell, Chevron and Exxon fell on the news, as average gas prices in the US dropped below $4 for the first time in months.

Futures for the S&P 500 and Nasdaq Composite rose 0.9% and 1.5%, respectively. Last week, inflation readings for May showed both wholesale inflation and consumer prices rose in large part because of higher energy costs.

Signs of the peace deal have also lead to buying of momentum stocks this week. iShares MSCI USA Momentum Factor ETFrose another 1.46% in premarket trading.

Tasha Matsumoto
6/17/26
Stocks fall after new Fed Chair Warsh’s first policy meeting as traders worry about a rate hike

While the Fed left rates unchanged (as expected) a hawkish dot plot has traders bracing themselves for a rate hike this year.

Brown bear on a rock

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