Good Afternoon. It's National Piña Colada Day, who knew? But before you grab that tropical drink, let's dive into the latest market movers.

—Rosie, Wyatt, Evan & Conor

🔥 What’s Hot: 🔥

❄️ What’s Not: ❄️

1. Wells Fargo Exits Bilt Rent Rewards Card After Steep Losses

The News: Wells Fargo is pulling the plug early on its partnership with Bilt, the credit card that let users earn rewards on rent, after the venture turned into a money-loser costing the bank up to $10 million a month. Bilt is now in talks with fintech Cardless to take over as the card’s new issuer.

Why It Matters: If you’re a Bilt cardholder or apartment renter looking to rack up points, change is coming—and it’s a wake-up call for banks trying bold rewards plays. The shakeup shows just how tricky it is to profit from rent rewards, and could impact the future of creative credit card perks across the industry.
Source: wsj.com

2. Bitcoin Breaks All-Time High—Traders See Path to $120K

The News: Bitcoin surged to a record $113,833 on July 10, smashing its all-time high for the second straight day and triggering a wave of excitement and $280 million in liquidations, according to analysts at B2BINPAY, as investors piled in on renewed momentum.

Why It Matters: If you own crypto or just like to watch the fireworks, Bitcoin’s breakout could spark gains for altcoins and the broader market. With new ETF demand, big investors moving coins to cold storage, and bullish charts, analysts now see a real shot at $120,000—making crypto one of the hottest tickets on Wall Street this summer.
Source: crypto.news

3. Robot Surgeon Performs World’s First Fully Autonomous Gallbladder Removal

The News: A Johns Hopkins–led team announced that their AI-powered robot, SRT-H, has performed gallbladder removals on pig cadavers—completing every step of the surgery without human help for the first time ever.

Why It Matters: If you’re following the future of healthcare or robotics, this milestone brings us a giant step closer to fully autonomous surgeries. The tech could one day mean safer, more precise procedures for patients, shake up the medical workforce, and put “robot surgeon” on the list of must-watch innovations in hospitals worldwide.
Source: jhu.edu

4. Delta Shares Take Off After Earnings Beat and Guidance Rebound

The News: Delta Air Lines stock soared 10% after the company posted second-quarter results that topped Wall Street’s forecasts and restored its full-year profit guidance—reversing a previous warning tied to economic uncertainty and trade worries.

Why It Matters: If you invest in travel or watch the airline sector, Delta’s upbeat numbers are a welcome sign that consumer and business travel demand is bouncing back, even as rivals struggle. With premium cabins and loyalty revenue leading the way, Delta’s performance could help lift industry confidence and spark a fresh look at travel stocks this summer.
Source: yahoo.com

5. Elon Musk’s Grok 4 Overtakes AI Rivals, Sets New Benchmark Records

The News: Elon Musk’s xAI just released Grok 4, which smashed multiple AI benchmarks—including a record score on the ARC-AGI-2 test—and now ranks as the world’s top-performing AI model, beating out OpenAI and Anthropic.

Why It Matters: If you follow tech stocks, work in AI, or just want to know what’s next for the industry, Grok 4’s leap in reasoning and math skills puts xAI at the front of the pack. With Musk promising even bigger advances, this could heat up the AI arms race, open new doors for advanced automation, and force rivals to innovate faster than ever.
Source: techcrunch.com

1. Ferrero Buys Kellogg in $3.1B Breakfast Takeover

The News: Italian chocolate giant Ferrero is snapping up U.S. cereal icon Kellogg for $3.1 billion, taking over brands like Froot Loops and Corn Flakes as the legendary cereal maker faces rising costs and shifting breakfast habits.

Why It Matters: If you grew up with Tony the Tiger or just track global food giants, this move gives Ferrero a breakfast power play in America. Expect more competition—and maybe new chocolate twists—at your grocery store, as international buyers scoop up legacy U.S. brands facing new pressures and evolving tastes.
Source: bbc.com

2. Priya Nair Named First Woman CEO of India’s Consumer Goods Giant HUL

The News: Hindustan Unilever has tapped Priya Nair as its new CEO—the first woman to lead the 92-year-old company—at a pivotal moment as India’s top consumer goods giant faces slower growth and shifting urban trends.

Why It Matters: If you follow emerging markets or global leadership moves, this historic appointment spotlights the rising power of women in the C-suite and could set the tone for more diverse leadership across India Inc. All eyes are now on Nair as she steers HUL through tough market headwinds and a new chapter for the subcontinent’s biggest brands.
Source: cnbc.com

3. Trump Hits Brazil With 50% Tariff Over Bolsonaro ‘Witch Hunt’

The News: President Trump announced a sweeping 50% tariff on all Brazilian imports starting August 1, tying the move to Brazil’s prosecution of former president Bolsonaro—a rare political rationale for U.S. trade policy that immediately sent coffee and orange juice prices soaring.

Why It Matters: If your mornings run on coffee or OJ, brace yourself—Brazil supplies a huge chunk of both for U.S. consumers. The tariff could mean pricier breakfasts, supply shocks, and fresh trade tensions just as food inflation bites at home. With both countries trading barbs and threats of retaliation, this move could reshape global markets—and your grocery bill.
Source: foxbusiness.com

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