A TON OF THINGS HAPPENED IN THE STOCK MARKET TODAY

A TON OF THINGS HAPPENED IN THE STOCK MARKET TODAY.

Here's a full recap:

1. SpaceX $SpaceX(SPCX.US) will be added to the Nasdaq 100 tomorrow before the market opens, creating forced buying from mutual funds and ETFs that track the index and collectively manage roughly $800B in AUM. SpaceX’s initial weighting will be about 1%, based on free-float market cap, which excludes insider and restricted shares. That weighting could grow over time as lockups lift, the public float expands, and Nasdaq rebalances the index in September and December.

2. Samsung Electronics prelim Q2 operating profit surged 19x YoY to roughly $58.4B, beating $55.3B consensus, driven by booming AI memory demand. Revenue came in slightly below expectations at about $111.8B vs. $113.1B consensus, but still rose 129% YoY. On an operating income basis, Samsung is now arguably the most profitable company in the world, generating more operating profit than Nvidia $NVIDIA(NVDA.US) did last quarter.

3. Robinhood $Robinhood(HOOD.US) CEO Vlad Tenev says demand for Trump Accounts has been “tremendous,” with 6M kids signing up pre-launch to express interest and millions of accounts already invested. The accounts are now officially active and open for contributions, allowing parents, grandparents, family, friends, and employers to collectively contribute up to $5,000 annually for eligible American children. SpaceX $SpaceX(SPCX.US) president Gwynne Shotwell and her husband are donating $320M of company stock to help fund Trump Accounts for more than 2M American children.

4. Broadcom $Broadcom(AVGO.US) and Apple $Apple(AAPL.US) expanded their long-standing technology partnership through 2031. Under the new multi-year agreements, Broadcom will develop and supply a range of custom ASIC silicon products for multiple generations of Apple devices.

5. The top 10 most active options today by contracts traded were $Tesla(TSLA.US) with 4.4M contracts, $NVIDIA(NVDA.US) with 2.3M contracts, $Apple(AAPL.US) with 1.5M contracts, $Amazon(AMZN.US) with 790K contracts, $SpaceX(SPCX.US) with 727K contracts, $Meta Platforms(META.US) with 668K contracts, $Microsoft(MSFT.US) with 637K contracts, $Intel(INTC.US) with 566K contracts, $Micron Tech(MU.US) with 530K contracts, and $SoFi Tech(SOFI.US) with 421K contracts.

6. TeraWulf $Terawulf(WULF.US) signed a 20-year lease with Anthropic for its Justified Data campus in Kentucky, representing roughly $19B of contracted revenue over the initial term. The campus is expected to support about 401MW of critical IT load, with initial capacity coming online in H2 2027 and full capacity by early 2028. Separately, TeraWulf is selling its 50.1% stake in the Abernathy JV to a Fluidstack-led investor group, monetizing an approximately $450M investment.

7. Retail is levering up into options. 0DTE options now account for a record 48% of total retail options volume, more than tripling over the past five years. They also represented a record 30% of total U.S. options volume in May, well above the 2022 high of roughly 18% and the five-year average of about 21%. As short-dated trading keeps growing, the average options contract now expires in under 3 days.

8. JPMorgan says Meta $Meta Platforms(META.US) potentially monetizing excess AI compute through a cloud business could be positive for returns on AI infrastructure, but the firm would rather see Meta use that capacity inside its own products. The report notes Meta could charge developers for access to models hosted on its infrastructure or rent raw compute to third parties, with JPM estimating 1GW of capacity could generate around $20B in annual revenue and several dollars of EPS. Still, JPM argues the bigger upside is Meta using its compute, 4B+ users, and AI products across Family of Apps to drive internal inference demand, which would support continued heavy capex rather than implying a slowdown.

9. Michael Saylor’s Strategy $Strategy(MSTR.US) sold 3,588 BTC over the last two weeks for roughly $216M as part of its new Bitcoin Monetization Program, which allows up to $1.25B of BTC sales. The latest sale included 2,225 BTC at an average price of $60,773, following the prior week’s sale of 1,363 BTC at $59,256. Strategy still holds 843,775 BTC, with an average acquisition cost of $75,476 per BTC.

10. AI giants OpenAI, Anthropic, and Google are handing out free compute credits worth hundreds of thousands of dollars to win startup customers, per WSJ. The battle for startups is intensifying as top AI labs offer discounts and credits to lock in the next generation of enterprise users. The strategy is simple: subsidize usage now, drive early adoption, and turn today’s startup customers into durable long-term revenue streams.

11. Deutsche Bank says U.S. public debt is the clearest macro risk to American dominance. Federal deficits have stayed around 5%–6% of GDP since 2022 despite the economy being near full employment, while debt held by the public is set to surpass 100% of GDP this year. Interest payments now exceed defense spending and are the fastest-growing budget item, with the CBO projecting a $1.9T FY2026 deficit and public debt rising to 120% of GDP by 2036.

12. Leopold Aschenbrenner’s next investment target filed for Nasdaq this Friday. SK Hynix $SK hynix(SKHY.US) is raising $28B, with Situational Awareness indicating interest in up to $7B of shares. SK Hynix has roughly 59% of the global HBM market, about 70% of Nvidia’s $NVIDIA(NVDA.US) HBM4 allocation, Nvidia alone represents 27% of revenue, and its entire 2026 chip lineup is already sold out. SK Hynix will be going public on the Nasdaq via ADRs and will be one of the largest foreign memory companies, now worth $1T.

WALL STREET IS THE GREATEST SHOW ON EARTH.

Source: amit