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Skye Bioscience (NASDAQ: SKYE) This clinical-stage biotech is gaining momentum with Nimacimab, a next-gen obesity drug targeting peripheral CB1 receptors, offering fewer side effects and better muscle retention than GLP-1s. A new Arecor partnership supports longer-lasting dosing. With Phase 2a data due late 2025 and strong cash reserves, the $142.8M market cap leaves room for major upside. (Price at call: $4.35, Current price: $4.24, Analyst expectation: $6)

Bristol-Myers Squibb (NYSE: BMY) Bristol Myers Squibb looks undervalued despite patent cliff fears. Only half of Eliquis’ $13.3B revenue hits BMY due to its Pfizer partnership, while Celgene-related amortization is set to drop sharply, boosting EPS by ~$2.60 by 2026. With $13B+ in annual cash flow, BMY can fund buybacks, debt cuts, and new drugs. Growth brands like Opdualag and Camzyos are gaining fast, and the $11B BioNTech deal signals a deepening pipeline. Trading at a steep discount, BMY is primed for a strong post-patent rebound. (Current Price: $47.66, Analyst expectation: $54)

Tariff Announcement Numbness: Markets developing immunity to trade war escalation as announcements lose shock value. Recipe: Focus on companies with actual trade exposure rather than reacting to headline drama. Brazilian food importers face a real 50% cost increase while most tariff threats remain political theater requiring selective analysis.

Tech Milestone Monetization: Nvidia's $4T achievement demonstrates AI infrastructure value creation despite broader market indifference. Recipe: Maintain exposure to AI ecosystem leaders with sustainable competitive advantages. Semiconductor platform companies like Broadcom are benefiting from concentrated spending patterns.

Consumer Staples Resilience: Costco's accelerating growth and Ferrero's Kellogg bid highlight defensive sector strength. Recipe: Consider premium food and consumer brands with pricing power and acquisition appeal. Stable cash flows and brand moats provide portfolio stability amid policy uncertainty.

Biotech Partnership Revival: Nurix's collaboration revenue surge demonstrates viable funding models beyond traditional VC. Recipe: Screen for biotech companies with pharmaceutical partnerships providing revenue stability. Big Pharma is seeking external innovation, creating opportunity for smaller players with promising assets.

Airline Demand Sustainability: Delta's guidance will signal summer travel strength and pricing power durability. Recipe: Monitor earnings for demand normalization signals and capacity discipline maintenance. International travel recovery and business demand return are crucial for sector-wide margin expansion.

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Is Trump rewriting global trade again—one letter at a time? With 50% tariffs slapped on Brazilian goods over Bolsonaro’s trial, and copper now joining steel and aluminum in tariff territory, markets are bracing for more than just political drama.

India, sensing danger, is stepping carefully—no dollar challenge here—while hoping to clinch a trade deal before it gets burned by the BRICS backlash. Meanwhile, Vietnam dodged a bullet, landing a 20% rate instead of 46%, but gets slapped with 40% if caught transshipping.

The EU is bargaining for exemptions under a 10% blanket tariff. Canada blinked—scrapping its digital tax to revive stalled talks. But with pharma facing a looming 200% tariff threat, and China warning of retaliation, is a new global tariff war just heating up?

USD News

Thursday's Main Course

Pakistan Roosevelt Hotel Strategy: Government seeking $1B valuation for Manhattan property through joint venture model rather than outright sale. The century-old hotel, shut since 2020, represents a valuable foreign asset in the $7B IMF privatization push.

BMW Q2 European Strength: German automaker reports 0.4% delivery increase as 10.1% European growth offsets 13.7% China decline. US market stability at 1.4% growth, demonstrating geographic diversification benefits.

Ulta Beauty UK Expansion: Cosmetics retailer nearing Space NK acquisition for over £300M, expanding British high street presence. Deal value reflects premium beauty market consolidation trends.

China Deflation Action Signals: President Xi is showing signs of finally addressing price wars plaguing the economy. Government intervention could potentially end deflationary pressures across multiple sectors.

European Telecom Regulatory Pushback: Vodafone, Iliad, and 1&1 opposing EU plans for laxer fixed network regulations, warning of market leader re-monopolization. Fiber optic expansion concerns are driving competitive protection advocacy.

Vietnam Trade Compliance: Preparing stricter penalties for illegal transshipments and Chinese product inspections following the Trump deal. 40% levy on illegally transshipped goods incentivizes genuine compliance.

Meta AI Talent War: Offering $200M+ package to Apple's Ruoming Pang, highlighting Silicon Valley compensation escalation. OpenAI CEO reveals Meta offering $100M+ signing bonuses to poach employees.

Ant Group USDC Integration: Jack Ma-backed company planning Circle stablecoin adoption on blockchain platform pending regulatory compliance. China's payment infrastructure is embracing digital currency innovation.

Oracle Indonesia Expansion: Partnering with DayOne Data Centers for the first cloud services center in the country. Batam Island facility supporting 120+ megawatts, demonstrating Southeast Asia infrastructure investment.

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Nvidia (NVDA ⬆️ 0.5% premarket): AI chip king makes history becoming first company to reach $4 trillion market cap during Wednesday's session, closing at record $162.88 with $3.974T valuation. Milestone beats previous Apple record of $3.915T as AI dominance continues. Stock up 21% year-to-date despite broader market malaise. Analyst bite: Historic achievement demonstrating AI revolution's unprecedented value creation.

WK Kellogg (KLG ⬆️ 49%): Cereal maker absolutely explodes on Wall Street Journal report of Ferrero's $3B acquisition approach. Italian candy giant could finalize Froot Loops and Frosted Flakes deal this week as family-owned company expands breakfast portfolio. Premium acquisition multiple highlighting brand value. Analyst bite: Consumer staples M&A demonstrating resilient food brand valuations.

Broadcom (AVGO ⬆️ 0.2% premarket): Semiconductor platform extends Wednesday's 2.2% gain to a record $277.90 close with market cap surpassing $1.3T for the first time. Stock up 20% year-to-date as AI infrastructure demand drives multiple expansion alongside Nvidia leadership. Analyst bite: Semiconductor ecosystem benefiting from concentrated AI spending.

Delta Air Lines (DAL ⬇️ 0.2% premarket): Airline sector bellwether reports Q2 earnings before bell with summer travel demand and pricing power in focus. Guidance historically impacts United, SkyWest, and international carriers as industry demand patterns emerge. Analyst bite: Travel demand sustainability crucial for sector-wide margin outlook.

Autodesk & PTC: Engineering software M&A speculation creates volatility as Bloomberg reports Autodesk evaluating cash-and-stock deal for PTC. Target jumps 18% on acquisition interest while the acquirer declines 2.5% on dilution concerns. Analyst bite: Software consolidation accelerating as companies seek scale advantages.

Nurix Therapeutics (⬆️ 47%): Biotech rockets on fiscal Q2 revenue surge to $44.1M from $12.1M year-ago versus $17.5M consensus. Strong collaboration revenues are driving outperformance in a challenging biotech funding environment. Analyst bite: Partnership models providing revenue stability amid sector weakness.

Costco (⬆️ 0.7%): Warehouse retailer breaks five-month slowing trend with 8% retail sales growth for the five weeks ended July 6th. Same-store sales up 5.8% with e-commerce jumping 11.5% as membership model demonstrates resilience. Analyst bite: Consumer staples strength supporting premium membership valuations.

😭 Forget the Border Crisis, China, and the Deep State "This Will Define Trump's Legacy". (Money & Markets)

ETF Gainers:

2x Ether ETF (⬆️ 12.20%): Ethereum leveraged enthusiasm returning

ProShares Ultra Ether ETF (⬆️ 12.20%): Crypto optimism getting double exposure

T-Rex 2X Long Ether Daily Target ETF (⬆️ 12.06%): Digital asset momentum building

Defiance Daily Target 2X Long RIOT ETF (⬆️ 11.42%): Bitcoin mining appetite reviving

Direxion Daily S&P Biotech Bull 3X Shares (⬆️ 10.97%): Biotech getting leveraged love

ETF Losers:

T-Rex 2X Inverse Ether Daily Target ETF (⬇️ 11.95%): Crypto bears getting served losses

ProShares UltraShort Ether ETF (⬇️ 11.90%): Ethereum pessimism backfiring

Direxion Daily S&P Biotech Bear 3X Shares (⬇️ 11.00%): Biotech bears losing appetite

GraniteShares 2x Short COIN Daily ETF (⬇️ 10.34%): Crypto exchange pessimism fading

T-Rex 2X Inverse MSTR Daily Target ETF (⬇️ 9.45%): MicroStrategy shorts getting squeezed

🥡 Car insurance costs are set to reach record highs in 2025. Are you ready? Shop around and compare policies by checking out Money's Best Car Insurance list.

🥡 Apple's Quiet Recovery Signals Tech Rebound: After a period of underperformance, Apple's stock has seen a modest uptick amid speculation of an AI partnership to revamp Siri—Are you ready for the potential surge in tech investments?

🥡 Italian Food Giant Ferrero in Talks to Acquire WK Kellogg: The maker of Ferrero Rocher is reportedly in advanced discussions to buy the US cereal company for up to $3 billion—What could this mean for the future of breakfast cereals and iconic brands?

🥡 July's Full Buck Moon Rises Today: Skygazers can catch a glimpse of the full buck moon around its peak illumination today, July 10th, with optimal viewing after sunset in North America—What other celestial events can you spot this month?

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