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Robinhood Registered user
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Subscribed 5 years ago
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Tech tumbled as momentum stocks ran into a blowout jobs report and a wave of profit-taking
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Presented by
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<h1 style="margin:0;color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:30px;font-weight:700;letter-spacing:-2.5px;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:36px">
<span class="tinyMce-placeholder" style="word-break: break-word;">
Hey Snackers,
</span>
</h1>
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<p style="margin:0;margin-bottom:16px">
Is it 1986 or 2026? As a
<strong>
</strong>
<a style="text-decoration: underline; color: #5869ff;">
<strong>
buzzy biopic
</strong>
</a>
moonwalks the King of Pop back into the mainstream, Michael Jackson’s “Billie Jean” recently topped both
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Spotify
</strong>
</a>
’s
<a style="text-decoration: underline; color: #5869ff;">
<strong>
global streaming
</strong>
</a>
chart and the
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Billboard Global 200
</strong>
</a>
more than
<a style="text-decoration: underline; color: #5869ff;">
<strong>
43 years after its initial release
</strong>
</a>
. Zooming out, the most listened to songs and artists are increasingly populated by
<a style="text-decoration: underline; color: #5869ff;">
<strong>
some of the biggest tracks of yesteryear
</strong>
</a>
.
</p>
<p style="margin:0;margin-bottom:16px">
Stocks fell sharply on Friday, with the Nasdaq 100 suffering its
<a style="text-decoration: underline; color: #5869ff;">
<strong>
biggest daily decline
</strong>
</a>
<strong>
</strong>
since April 2025. The S&P 500 broke its nine-week winning streak, while the Russell 2000 fell as well. All three indexes posted a weekly loss.
</p>
<p style="margin:0;margin-bottom:16px">
Technology was the worst-performing sector by a wide margin, with
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Technology Select Sector SPDR
</strong>
</a>
tumbling as investors rotated into defensive sectors, with consumer staples, utilities, and healthcare all rising, along with real estate.
</p>
<p style="margin:0">
🧠 With the World Cup starting this week, let’s kick off with our
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Snacks Seven Quiz
</strong>
</a>
:
</p>
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<tr>
<td class="pad" style="padding-top:5px;padding-bottom:5px;padding-left:10px;padding-right:10px">
<div style="margin-left:-20px">
<ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
<li aria-level="1" style="Margin:0 0 8px 0">
What portion of employees plans to take at least one day off for the World Cup?
<br/>
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Check your answer
</strong>
</a>
.
</li>
</ul>
</div>
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<strong>
PROFIT-TAKING
</strong>
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<a style="text-decoration: underline; color: #5869ff;">
<strong>
Tech tumbled as momentum stocks ran into a blowout jobs report and a wave of profit-taking
</strong>
</a>
</h1>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
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<p style="margin:0">
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Broadcom
</strong>
</a>
threatened to derail the AI trade last Wednesday evening. Coming into its earnings on a scorching run, it wasn’t wildly surprising that — on the back of results that were solid but failed to give any real excuses to incrementally bid the stock — the stock shed 13% Thursday, dragging memory stocks down with it. But that wasn’t the end of it.
</p>
</div>
</td>
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<td class="pad" style="padding-top:10px;padding-bottom:15px;padding-left:10px;padding-right:10px">
<div style="margin-left:-20px">
<ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
<li aria-level="1" style="Margin:0 0 8px 0">
Friday saw
<a style="text-decoration: underline; color: #5869ff;">
<strong>
widespread selling in the tech space
</strong>
</a>
, and while some might blame Broadcom, those earnings were old news at the time of the sell-off. What gives?
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
For starters, a
<a style="text-decoration: underline; color: #5869ff;">
<strong>
blowout jobs report
</strong>
</a>
, which sent yields spiking.
<a style="text-decoration: underline; color: #5869ff;">
<strong>
The US economy added 172,000 jobs
</strong>
</a>
in the month of May, sending
<a style="text-decoration: underline; color: #5869ff;">
<strong>
10-year Treasury yields higher
</strong>
</a>
. Experts had predicted only 85,000 new jobs — just half the reported number.
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
Good news for the economy can be bad news for the stock market, as that print slashed the implied odds of a rate cut later this year and potentially weighed on the valuations of what are perceived to be riskier assets.
</li>
</ul>
</div>
</td>
</tr>
</table>
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<td class="pad" style="padding-bottom:10px">
<div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
<p style="margin:0">
Perhaps more plausible, however, is that there’s simply a general sense that momentum stocks and winners are a touch overextended.
</p>
</div>
</td>
</tr>
</table>
</td>
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</td>
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</td>
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<span class="tinyMce-placeholder" style="word-break: break-word;">
THE TAKEAWAY
</span>
</h1>
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<p style="margin:0;margin-bottom:16px">
Until very recently, winners like
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Micron
</strong>
</a>
,
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Sandisk
</strong>
</a>
, and
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Marvell Technology
</strong>
</a>
, to name but a few, have been ripping relentlessly higher. Momentum — by far the best-performing risk factor in equities in 2026 —
<a style="text-decoration: underline; color: #5869ff;">
<strong>
ate it real bad on Friday
</strong>
</a>
, while low volatility, which has been crushed year to date, enjoyed a rare reprieve.
</p>
<p style="margin:0">
The S&P 500 had been shooting for its 10th straight week of gains; so much for that.
</p>
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Presented by State Street Investment Management
</strong>
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Looking to tap into the latest investment trends?
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<p style="margin:0;margin-bottom:16px">
<a style="text-decoration: underline; color: #5869ff;" target="_self">
<strong>
SPY
</strong>
</a>
provides access to the world’s largest market and many of its top growth drivers in a single trade.
</p>
<p style="margin:0;margin-bottom:16px">
Invest in AI innovators like Nvidia and Tesla transforming America’s future, and tech companies like Microsoft and Apple reshaping how businesses operate.
<a style="text-decoration: underline; color: #5869ff;" target="_self">
<strong>
With broad exposure to the US economy
</strong>
</a>
and all 11 major sectors, you can benefit from today’s most powerful growth engines without the risk of picking individual winners.
</p>
<p style="margin:0;margin-bottom:16px">
SPY can also serve as a foundation for your portfolio to anchor and build around. You can stay invested in the US equity market while freeing up time to research your next investment opportunity.
</p>
<p style="margin:0">
<a style="text-decoration: underline; color: #5869ff;" target="_self">
<strong>
Get there with SPY, the world’s most traded ETF
</strong>
</a>
.
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<strong>
ZOOM OUT
</strong>
</span>
</span>
</span>
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<strong>
Stories we’re obsessed with
</strong>
</h1>
</td>
</tr>
</table>
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<ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
<li aria-level="1" style="Margin:0 0 8px 0">
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Switching games
</strong>
</a>
<strong>
:
</strong>
The Switch 2 launched on June 5, 2025. One year later, the handheld is the fastest-selling console in history, with 19.9 million units moved as of
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Nintendo
</strong>
</a>
’s most recent quarter. But, as the industry continues to reel from AI’s “
<a style="text-decoration: underline; color: #5869ff;">
<strong>
RAMpocalypse
</strong>
</a>
,” lingering tariffs, ballooning game budgets that have squeezed margins, and slowing “
<a style="text-decoration: underline; color: #5869ff;">
<strong>
black hole
</strong>
</a>
”
<a style="text-decoration: underline; color: #5869ff;">
<strong>
engagement
</strong>
</a>
, the Switch 2 may be the
<a style="text-decoration: underline; color: #5869ff;">
<strong>
last of a dying breed
</strong>
</a>
: a reasonably priced, mass-market console.
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Corporate America has never been this profitable
</strong>
</a>
<strong>
:
</strong>
In the first quarter of 2026, S&P 500 companies kept nearly $0.15 of profit for every dollar of revenue, according to FactSet — the
<a style="text-decoration: underline; color: #5869ff;">
<strong>
highest figure recorded
</strong>
</a>
since the data provider began tracking the metric in 2009, and
<a style="text-decoration: underline; color: #5869ff;">
<strong>
more than double
</strong>
</a>
the long-run historical average of around $0.06 going back to 1946. Much of it comes down to the index’s new center of gravity, the
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Magnificent 7
</strong>
</a>
.
</li>
</ul>
</div>
</td>
</tr>
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</td>
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</table>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
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</td>
</tr>
</tbody>
</table>
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<strong>
THE BEST THING WE READ TODAY
</strong>
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</span>
</span>
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<a style="text-decoration: underline; color: #5869ff;">
<strong>
We interviewed the CEO of Andon Market, who is not a real person
</strong>
</a>
</h1>
</td>
</tr>
</table>
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<p style="margin:0">
<strong>
Andon Labs
</strong>
is taking a different approach to AI benchmarks, like measuring how well a model can
<a style="text-decoration: underline; color: #5869ff;">
<strong>
run a vending machine
</strong>
</a>
or
<a style="text-decoration: underline; color: #5869ff;">
<strong>
a radio station
</strong>
</a>
. Its latest experiment lets an
<a style="text-decoration: underline; color: #5869ff;">
<strong>
AI run a brick-and-mortar shop
</strong>
</a>
. We visited. And we had some questions for the boss.
</p>
</div>
</td>
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<strong>
Snacks shots
</strong>
</h1>
</td>
</tr>
</table>
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<div style="margin-left:-20px">
<ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
<li style="Margin:0 0 8px 0">
⚽️
<strong>
World Cup:
</strong>
With the long-awaited North American World Cup coming this weekend, the markets* are clear: there’s like no chance the winner is going to be from North America. The US has just a 3% chance (which feels…
<em>
ambitious
</em>
), Mexico has a 2% chance, and Canada is among the 1% or lower crowd. The consensus is a European winner, with
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Spain (18%)
</strong>
</a>
,
<strong>
</strong>
<a style="text-decoration: underline; color: #5869ff;">
<strong>
France (17%)
</strong>
</a>
,
<a style="text-decoration: underline; color: #5869ff;">
<strong>
England (11%)
</strong>
</a>
,
<a style="text-decoration: underline; color: #5869ff;">
<strong>
and Portugal (10%)
</strong>
</a>
leading the rankings.
</li>
<li style="Margin:0 0 8px 0">
<strong>
📺 Paramount:
</strong>
The news that a group of states is
<strong>
</strong>
<a style="text-decoration: underline; color: #5869ff;">
<strong>
pursuing a lawsuit seeking to block Paramount’s acquisition of Warner Bros. Discovery
</strong>
</a>
<strong>
</strong>
has rattled traders’ increasing certainty that the deal will go through, increasing the market-implied probability that Warner Bros. will be bought by nobody from
<a style="text-decoration: underline; color: #5869ff;">
<strong>
14% to 19% in a single day
</strong>
</a>
.
<strong>
</strong>
</li>
</ul>
</div>
</td>
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</table>
<table border="0" cellpadding="10" cellspacing="0" class="paragraph_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
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<p style="margin:0">
*Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.
</p>
</div>
</td>
</tr>
</table>
</td>
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</td>
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<h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:25px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:30px">
<span class="tinyMce-placeholder" style="word-break: break-word;">
What else we're Snackin'
</span>
</h1>
</td>
</tr>
</table>
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<div style="margin-left:-20px">
<ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
<li aria-level="1" style="Margin:0 0 8px 0">
Longtime
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Tesla
</strong>
</a>
bear JPMorgan upgraded its rating and raised its price target
<strong>
</strong>
<a style="text-decoration: underline; color: #5869ff;">
<strong>
by 228%
</strong>
</a>
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Meta
</strong>
</a>
is supercharging its subscription businesses with
<a style="text-decoration: underline; color: #5869ff;">
<strong>
paid plans for all sorts of stuff
</strong>
</a>
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
<strong>
Trulieve
</strong>
will list on the New York Stock Exchange, a first for the US cannabis sector, and
<a style="text-decoration: underline; color: #5869ff;">
<strong>
more may be on the way
</strong>
</a>
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
<strong>
Anthropic
</strong>
asks what happens when
<a style="text-decoration: underline; color: #5869ff;">
<strong>
AI models can improve themselves
</strong>
</a>
— and whether anyone could stop them
</li>
</ul>
</div>
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<tbody>
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<td>
<table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;border-radius:0;color:#000;width:600px;margin:0 auto" width="600">
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<td>
<table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#5869ff;background-size:auto;border-bottom:30px solid #fff;border-left:30px solid #fff;border-radius:10px;border-right:30px solid #fff;border-top:30px solid #fff;color:#000;width:600px;margin:0 auto" width="600">
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<td class="col-pad" style="padding-bottom:15px;padding-left:25px;padding-right:25px;padding-top:15px">
<table border="0" cellpadding="0" cellspacing="0" class="heading_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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<h1 style="margin:0;color:#fff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:25px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:center;margin-top:0;margin-bottom:0;mso-line-height-alt:30px">
<span class="tinyMce-placeholder" style="word-break: break-word;">
Snack Fact of the Day
</span>
</h1>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-top:10px;padding-bottom:10px;padding-left:40px;padding-right:40px">
<div style="color:#000;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.2;text-align:center;mso-line-height-alt:22px">
<p style="margin:0">
<a style="text-decoration: underline; color: #ffffff;">
<strong>
Crypto digital asset treasuries have shed $62 billion in market cap since October.
</strong>
</a>
</p>
</div>
</td>
</tr>
</table>
</td>
</tr>
</table>
</td>
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<tbody>
<tr>
<td>
<table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;border-radius:0;color:#000;width:600px;margin:0 auto" width="600">
<tbody>
<tr>
<td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;vertical-align:top" width="100%">
<table border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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<td class="col-pad" style="padding-left:25px;padding-right:25px">
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<tr>
<td class="divider_inner" style="font-size:1px;line-height:1px;border-top:1px solid #5869ff">
<span style="word-break: break-word;">
</span>
</td>
</tr>
</table>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="heading_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tr>
<td align="center" class="pad" style="width:100%">
<h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:25px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:30px">
<span class="tinyMce-placeholder" style="word-break: break-word;">
This Week
</span>
</h1>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="list_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word;color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px" width="100%">
<tr>
<td class="pad" style="padding-top:5px;padding-bottom:5px;padding-left:10px;padding-right:10px">
<div style="margin-left:-20px">
<ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
<li aria-level="1" style="Margin:0 0 8px 0">
<strong>
Monday:
</strong>
Premarket earnings:
<a style="text-decoration: underline; color: #5869ff;">
<strong>
The Campbell’s Company
</strong>
</a>
.
<strong>
</strong>
Postmarket earnings:
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Vail Resorts
</strong>
</a>
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
<strong>
Tuesday:
</strong>
Premarket earnings:
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Uranium Energy
</strong>
</a>
,
<a style="text-decoration: underline; color: #5869ff;">
<strong>
JM Smucker
</strong>
</a>
, and
<a style="text-decoration: underline; color: #5869ff;">
<strong>
SailPoint
</strong>
</a>
.
<strong>
</strong>
Postmarket earnings:
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Casey’s General Stores
</strong>
</a>
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
<strong>
Wednesday:
</strong>
Premarket earnings:
<strong>
</strong>
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Chewy
</strong>
</a>
.
<strong>
</strong>
Postmarket earnings:
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Oracle
</strong>
</a>
and
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Navan
</strong>
</a>
.
<strong>
</strong>
US May Consumer Price Index. US May Treasury Statement
</li>
<li aria-level="1" style="Margin:0 0 8px 0">
<strong>
Thursday:
</strong>
Postmarket earnings:
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Adobe
</strong>
</a>
and
<a style="text-decoration: underline; color: #5869ff;">
<strong>
Lennar
</strong>
</a>
.
<strong>
</strong>
US May Producer Price Index
</li>
</ul>
</div>
</td>
</tr>
</table>
</td>
</tr>
</table>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
<table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-16" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tbody>
<tr>
<td>
<table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;color:#000;width:600px;margin:0 auto" width="600">
<tbody>
<tr>
<td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;vertical-align:top" width="100%">
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<tr>
<td class="col-pad" style="padding-left:25px;padding-right:25px">
<table border="0" cellpadding="0" cellspacing="0" class="divider_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tr>
<td align="center" class="pad" style="padding-top:25px;padding-bottom:25px">
<table border="0" cellpadding="0" cellspacing="0" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
<tr>
<td class="divider_inner" style="font-size:1px;line-height:1px;border-top:1px solid #5869ff">
<span style="word-break: break-word;">
</span>
</td>
</tr>
</table>
</td>
</tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
<tr>
<td class="pad" style="padding-top:10px;padding-bottom:5px;padding-left:10px;padding-right:10px">
<div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:16px;font-weight:400;letter-spacing:0;line-height:1.2;text-align:left;mso-line-height-alt:19px">
<p style="margin:0;margin-bottom:16px">
<strong>
State Street Investment Management Disclosure:
</strong>
<strong>
<br/>
</strong>
<strong>
<br/>
</strong>
<strong>
Before investing, consider the funds’ investment objectives, risks, charges, and expenses. To obtain a prospectus or summary prospectus, which contains this and other information, call 1-866-787-2257 or visit
</strong>
<a style="text-decoration: underline; color: #1d1d1d;">
www.statestreet.com/im
<strong>
.
</strong>
</a>
<strong>
Read it carefully.
</strong>
Investing involves risk. ALPS Distributors, Inc. (fund distributor); State Street Global Advisors Funds Distributors, LLC (marketing agent)
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