The Rundown Trump Threatens to Remove Tesla Subsidies, Circle Applies for National Bank Charter
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Jul 1, 2025 In a dynamic market landscape, the S&P 500 and NASDAQ show resilience despite economic headwinds. The heated exchange between Elon Musk and Donald Trump over Tesla's government subsidies raises eyebrows. Meanwhile, Apple considers shifting its AI strategy from in-house to third-party solutions. The financial struggles of AMC prompt efforts for restructuring, while an exciting collaboration between Netflix and NASA aims to bring live space content to audiences. Stay tuned for insights into these pivotal developments!
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Markets Climb Wall of Worry
- Despite multiple shocks including tariffs and geopolitical issues, the S&P 500 ended Q2 up 10%, its best quarter since 2023.
- This shows markets can climb a 'wall of worry' where optimism grows amid uncertainty.
Elon Musk and Trump Clash Over Subsidies
- Elon Musk opposes Senate bill cutting green energy subsidies that would worsen the US deficit.
- Trump retaliates by threatening removal of Tesla and SpaceX subsidies and questions Musk's reliance on government funds.
Apple Considers Outsourcing Siri AI
- Apple plans to ditch in-house AI for Siri and test OpenAI's ChatGPT and Anthropic's Claude models.
- This signals Apple's shift from total control to partnering for competitive AI performance.