Good Afternoon. Happy 7/11! As everyone grabs a free Slurpee, the markets are serving up their own brain freeze & sugar rush with fresh tariffs and wild swings. Let’s sip through today’s headlines and see what’s shaking on Wall Street.

—Rosie, Wyatt, Evan & Conor

🔥 What’s Hot: 🔥

❄️ What’s Not: ❄️

1. Dow Drops 200 Points as Trump Escalates Tariff Fight

The News: Stocks slid Friday, erasing recent gains, after President Trump slapped a 35% tariff on Canadian imports and warned of even higher blanket tariffs for other countries. The Dow fell more than 250 points as traders digested a flurry of tariff threats, leaving markets jittery ahead of next week’s earnings and inflation data.

Why It Matters: As trade battles heat up with key partners like Canada, investors face fresh uncertainty just as earnings season kicks off—so buckle up for a bumpy ride.
Source: cnbc.com

2. JPMorgan to Start Charging Fintechs for Customer Data

The News: JPMorgan Chase is set to roll out new fees for fintech firms that access its customer account data, hitting payment-focused companies hardest. News of the move rattled the sector. PayPal, Block, Visa, and Mastercard all saw their shares drop on Friday as details emerged.

Why It Matters: If you use payment apps or follow fintech stocks, this shift could drive up costs, change how you move money, and squeeze profits for some of your favorite financial platforms. With big banks looking to cash in on their data, expect ripple effects for digital wallets, payments innovation, and maybe even what you pay for convenience.
Source: yahoo.com

3. Robinhood reverses Friday decline as bitcoin and other crypto plays surge

The News: Robinhood shares bounced back after a rocky morning, thanks to a rally in Bitcoin and other crypto-related assets.

Why It Matters: If you're riding the crypto rollercoaster, buckle up. This shows how tightly some stocks are now tethered to digital currencies and how quickly fortunes can flip.
Source: marketwatch.com

4. Millions Face Sharp Health Insurance Hike in 2026 as Tax Credits Expire

The News: More than 22 million Americans could see their health insurance premiums jump by 75% in 2026, as enhanced tax credits for Affordable Care Act coverage are set to expire after next year. The lapse comes after President Trump’s July 4 tax bill extended many cuts but left out a renewal for these key health subsidies.

Why It Matters: If you buy your own insurance or know someone who does, expect major sticker shock. Millions may pay much more or lose coverage entirely. With health costs already straining household budgets, this could spark a new coverage crisis, especially for lower-income families, small business owners, and self-employed workers.
Source: cnbc.com

5. U.S. Posts Surprise $27B Surplus as Tariff Revenue Soars

The News: The U.S. Treasury reported a $27 billion budget surplus in June, a dramatic swing from May’s $316 billion deficit, thanks entirely to a historic surge in tariff revenue following President Trump’s sweeping new trade policies.

Why It Matters: Here’s the catch: while tariffs just plugged the budget in the short term, they’re already raising prices for households and threatening to slow economic growth. Economists warn this “quick fix” could mean higher costs at the store and slower wage growth for everyone even as Washington celebrates the surplus headline.
Source: axios.com

1. UK and France Invest €1.5B in Eutelsat to Rival Starlink

The News: The UK and France are pouring €1.5 billion into Eutelsat to supercharge Europe’s satellite internet ambitions and reduce the continent’s dependence on Elon Musk’s Starlink. The funding supports the new IRIS² constellation—a next-gen, 290-satellite network designed to provide secure, sovereign European connectivity by 2030

Why It Matters: This move is Europe’s boldest yet to break free from foreign tech dominance and bolster cybersecurity. With satellite internet now vital for everything from government to crisis response, this public-private push could reshape the global internet race—and protect Europe from disruptions if geopolitical tensions flare.
Source: thenextweb.com

2. UK Economy Contracts for Second Straight Month

The News: Britain’s economy shrank by 0.1% in May, following a 0.3% decline in April, as weak industrial and construction activity outweighed slight gains in the services sector, according to new government data.

Why It Matters: The double dip in growth is a warning sign: the world’s sixth-largest economy is flirting with recession just as global trade tensions and political uncertainty heat up. It’s more bad news for British policymakers and for anyone hoping for a rebound in UK stocks or the pound.
Source: reuters.com

3. China’s Deflation Deepens as Price Wars Erupt

The News: China’s economy is slipping further into deflation, with fierce price wars breaking out across industries from EVs to coffee and real estate. Producer prices fell 2.8% in the first half of 2025, and consumer prices also slipped, as companies slash prices just to survive.

Why It Matters: China’s deflation is a warning: aggressive price cutting may mean cheaper goods for the world but could spark job losses, shrinking profits, and more instability in the world’s second-largest economy. As U.S. and EU tariffs rise, Chinese firms are racing to build overseas factories—potentially flooding global markets and triggering fresh trade tensions for years to come.
Source: cnbc.com

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