🧾 FICO who?

Good evening. It was a quiet day on Wall Street as investors tried to make sense of Trump’s shifting trade policies. He pushed back his sweeping “Liberation Day” tariffs to August 1, giving countries a few more weeks to strike deals. He insists there won’t be another extension.

Some think it’s a classic case of the so-called “TACO” trade: Trump Always Chickens Out. Others don’t. Is it TACO Tuesday?

⬆︎⬇︎ 1-day change
Market data: today’s market close

WINNERS

⬆︎7.23% Intel

New CEO, same playbook: layoffs. Intel, the chipmaker behind the processors powering most of your laptops, is laying off over 500 employees across its Oregon campuses. Roles affected include engineers working on cloud systems, software tools, and product development. The move comes just months after new CEO Lip-Bu Tan took over. [Read more]

⬆︎2.78% Trump Media

The crypto pivot is happening. Back in March, Trump Media announced a partnership with Crypto.com. Now, the first major step is here: the company just filed paperwork to launch the Truth Social Crypto Blue Chip ETF, a fund that would hold Bitcoin, Ether, Solana, Cronos, and Ripple. Crypto.com will serve as custodian and trading partner, but the ETF still needs SEC approval. [Read more]

⬆︎⬇︎ 1-day change
Market data: today’s market close

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LOSERS

⬇︎1.85% Goldman Sachs
⬇︎3.08% Bank of America
⬇︎3.16% JPMorgan Chase

Bank stocks got humbled. HSBC downgraded JPMorgan, Goldman Sachs, and Bank of America, saying the recent rally may have priced in all the good news (like strong credit quality, better investment banking results, and looser regulations) while ignoring risks like slowing growth and future rate cuts. [Read more]

⬇︎3.58% Enphase
⬇︎6.54% First Solar
⬇︎11.43% Sunrun

The Trump vs. solar saga continues. Trump just signed an executive order targeting federal support for clean energy. The order directs the government to start phasing out subsidies for alternative energy like wind, solar, and battery storage, calling them expensive, unreliable, and often tied to foreign supply chains. [Read more]

⬇︎8.71% Fair Isaac

The FICO monopoly is cracking. Fannie Mae and Freddie Mac will now let lenders use VantageScore 4.0 (a credit model built by Equifax, Experian, and TransUnion) instead of relying solely on FICO, the long-dominant score from Fair Isaac. VantageScore 4.0 uses machine learning and trended data to better evaluate people with limited credit history. [Read more]

⬆︎⬇︎ 1-day change
Market data: today’s market close

EXTRA

THE END

That’s it for today’s recap. We hope you found it valuable.

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