Markets are steaming into the summer at all-time highs as the July 9th reciprocal tariff deadline approaches and the Big Beautiful Tax bill has been signed into law, and investors’ animal spirits are howling as meme stocks are back in fashion. We go inside the rally with Ryan Detrick of The Carson Group, and stare into the horizon in search of more momentum. Plus, public companies are bingeing on Bitcoin, driving cryptocurrencies back to the Moon. What could go wrong?

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Everyone from corporate executives to Wall Street’s top strategists feared the worst for the stock market and the U.S. economy as the new administration tried to turn economic policy upside down at the beginning of the year, but we are ending the first half of the year at new record highs. Sam Ro of TKer clubs back aboard the Express to talk about the biggest surprises from the first half of 2025, the disconnect between feelings and returns, and second half predictions. Plus, who wants to be a millionaire? About 54 million people can now claim that milestone.

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As the U.S. attacks Iran, tensions in the Middle East tighten as the one of the key chokepoints for global oil is at risk. The Federal Reserve held interest rates steady last week, as expected, but the divide inside the central bank deepens as policy hawks and doves take sides. Plus, why the A.I. revolution might just be getting started, and which companies will be driving the next wave of hyper-growth, according to Dan Ives of Wedbush Securities. Dan is so convinced that he helped create an A.I. focused ETF with his own name on it.

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As Israel and Iran exchange missile attacks, the new bull market faces its first real challenge as ‘Event Risk’ takes over and oil prices spike. JC Parets of TrendLabs joins The Express to share the only charts that really matter right now, and the key indicators to watch this summer. Plus, the Fed will deliver its decision on interest rates this week and while no change is expected, it will be the first time we’ve seen the Dot Plot since the tariff war began. Where are the dots heading, and how to prepare your portfolio.

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As trade tensions ease and the headline economic data eases recession fears, a new bull market is picking up speed led by what Bank of America Securities calls the "Bro Billionaire Basket of Stocks", including Palantir, Nvidia, Coinbase and Bitcoin. Proximity to power is everything under this administration and in this stock market, and offenders like Tesla get punished when they cross the lines at Pennsylvania Ave. Plus, Silver prices hit a 13-year high as the Gold to Silver ratio narrows, signaling a new bull market in commodities, especially if the tariff truces stick.

LINKS for show notes:
https://www.carsongroup.com/insights/blog/author/rdetrick/
https://www.investopedia.com/what-to-expect-in-markets-this-week-may-inflation-data-apple-conference-gamestop-earnings-11749224https://www.investopedia.com/terms/g/gold-silver-ratio.asp
https://www.vandaresearch.com/news/
https://www.investopedia.com/u-s-china-to-meet-for-trade-talks-monday-11749945
https://www.investopedia.com/apple-big-developers-event-kicks-off-monday-what-you-need-to-know-11747463

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From inside the Bitcoin 2025 Conference in Las Vegas, it is clear that the new era of cryptocurrency is here and fully backed by the Trump administration. Listen to Vice-President JD Vance's remarks to the crowd of over 40,000 crypto-faithful, and wander the aisles of the exhibit hall at The Venetian and the walls between the traditional financial system and decentralized finance are melting. Plus, the White House's aggressive tariff policy was temporarily blocked by a federal trade court, but the president has many more methods of extracting tariffs from our trading partners and he's used them before. The tariff war is far from over, but CEOs like Jamie Dimon of JP Morgan are more worried about the war we are waging with the 'enemy within'. Listen to Dimon's comments from the Reagan Economic Forum last week.

LINKS
https://www.youtube.com/watch?v=3BrQG85fypM
https://www.youtube.com/watch?v=1NHLha3jG2g
https://www.investopedia.com/court-rules-trump-s-tariffs-can-stay-on-for-now-11744787
https://www.youtube.com/c/ActionCrypto
https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html
https://www.investopedia.com/terms/c/chain-transactions-cryptocurrency.asp
https://www.youtube.com/c/ActionCrypto
https://www.investopedia.com/what-to-expect-in-the-markets-this-week-11744837

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The 90-day tariff truce boosted markets and propelled the Nasdaq into a new bull market as the A.I. trade got some beneficial treatment from the White House, Is there any conviction behind this rally, or is it simply short covering ahead of the summer season? Plus, Moody's downgrades the U.S. credit rating on concerns about rising debt levels, but investors have plenty of other concerns.

LINKS
https://www.investopedia.com/what-to-expect-in-the-markets-this-week-11734954
https://www.investopedia.com/terms/s/shortcovering.asp
https://www.investopedia.com/tariffs-may-pinch-profits-at-walmart-retailer-says-11735725
https://www.moodys.com/web/en/us/about-us/usrating.html
https://www.bespokepremium.com/interactive/research/think-big-blog/

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You Can Now Trade eToro on the eToro online brokerage platform as the company joined the capital markets through an IPO on the Nasdaq. Co-founder and CEO Yoni Assia on the platform's long journey from its origins in 2007, through the Great Financial Crisis, the pandemic and the dawn of cryptocurrency to its debut as a public company.
LINKS:
https://www.etoro.com/about/
https://www.investopedia.com/etoro-review-6741360

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Fed Chair Powell is preaching patience as the Fed held interest rates last week, but individual investors have been leaning back into the stock market after a historical bout of pessimism. The tariff tantrum has reset the all-important CAPE Ratio, and while the fundamentals look a little better right now, the future of corporate profits is the $22 trillion question as trade negotiations continue. Plus, what to expect this week as new inflation reports and consumer sentiment readings are coming our way.

Resource links
https://www.spglobal.com/spdji/en/spiva/article/us-persistence-scorecard/
https://www.investopedia.com/what-to-expect-in-the-markets-this-week-11731294
https://www.investopedia.com/us-and-china-are-meeting-to-talk-trade-tariffs-this-weekend-heres-what-we-know-update-11731774
https://www.investopedia.com/terms/c/cape-ratio.asp
https://classic.foodandwine.com/
https://www.downtownjoshbrown.com/

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It may have come as a surprise to those of us in attendance at the Berkshire Hathaway meeting in Omaha this Saturday, but Warren Buffett gracefully said he'll be stepping aside as CEO at the end of the year, ending the greatest 60-year run in business history. The 94-year old paved the way for his successor, Greg Abel, but reassured investors and the Berkshire faithful that he'll be hanging around to provide his infinite wisdom to the new leadership team, and to the rest of us. Listen to Warren's enduring words of wisdom, and to his faithful investors and students who are on the lifelong investing journey with him.

Links for show notes:
https://www.investopedia.com/terms/m/marketcapgdp.asp
https://www.investopedia.com/articles/markets/041714/how-warren-buffett-made-berkshire-hathaway-worldbeater.asp
https://www.investopedia.com/warren-buffett-to-step-down-as-ceo-of-berkshire-hathaway-at-year-end-11727785
https://www.investopedia.com/what-to-expect-in-the-markets-this-week-11725770
https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html
https://www.investopedia.com/terms/s/sell-in-may-and-go-away.asp
https://buffett.cnbc.com/warren-buffett-archive/
https://www.investopedia.com/terms/m/marketcapgdp.asp
https://www.youtube.com/watch?v=1Nvte97VM6Y

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