Hello Capitalists,

The New York City Mayor’s race is exposing some major Democrat issues. The Fed Governor just dropped a huge hint that interest rate cuts may be coming sooner rather than later. Trump just gave Iran a chance for peace. The Senate passed Stablecoin legislation, Circle’s shares are soaring and Starbucks goes MAHA.

Here is everything you need to know about the markets today:

• The Top Line Market Numbers:

• DOW: 42247.99 - (⬆️0.18) ✅

• S&P: 5972.29 - (⬇️0.14) 🔴

• NASDAQ: 19464.56 - (⬇️0.42) 🔴

The ideological fight in the Democratic party just spilled on to the streets of NYC

The 2025 NYC mayoral race is heating up, and it’s becoming a real clash of ideologies in the Democratic Party that could define the city’s future.! The primary is just days away, and one candidate’s bold platform is stirring up both excitement and challenges. 

• Zohran Mamdani’s Progressive Push: Zohran Mamdani, a 33-year-old democratic socialist Queens assemblyman, is gaining traction with his promises of rent freezes, free bus rides, and no-cost childcare, appealing strongly to younger and progressive voters, but his policies resonate more with affluent white voters and are hitting roadblocks with key Black and Latino voting blocs.

• Struggles with Key Demographics: Despite his grassroots momentum, Mamdani’s socialist label and policies, like rent control, aren’t resonating as well with Black and Latino communities, who were crucial in past elections, like Eric Adams’ 2021 win, making it tough for him to build a broad coalition.

• Cuomo’s Edge: Former Governor Andrew Cuomo is leading polls by appealing to Black, Jewish, and non-college-educated voters, showing how experience and name recognition are trumping Mamdani’s progressive platform for now.

Fed Governor hints that interest rate cuts may be coming sooner than later

Federal Reserve Governor Christopher Waller just dropped a hint that the central bank might start cutting interest rates as soon as July 2025. This matters because lower rates could mean cheaper loans for things like homes, cars, or even credit cards.

• Waller’s Bold Call: Waller believes the Fed can cut rates soon, possibly at the July 29-30 meeting, as inflation isn’t a major threat anymore and the labor market needs support to avoid a slowdown.

• Cautious Approach: He suggests starting slowly to avoid surprises, noting that tariffs (like those pushed by President Trump) won’t likely cause lasting inflation spikes.

• Mixed Fed Views: While Waller’s ready to act, other Fed officials are more cautious, with market predictions leaning toward a September cut, and the Fed’s recent vote kept rates steady at 4.25%-4.5%.

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Trump hits pause on military action against Iran for two weeks

President Trump has made a decision to put a pause on military action against Iran and give diplomacy a shot. This has everyone—investors, world leaders, and analysts—watching closely, as it could affect everything from oil prices to international relations.

• Trump’s Shift to Diplomacy: President Trump has signaled he’ll hold off on striking Iran, favoring diplomatic efforts for now, a pivot from his earlier tough talk that included suggesting Tehran residents evacuate.

• Trump’s Two-Week Deadline: President Trump has set a two-week window to decide if the U.S. will join Israel’s military campaign against Iran, citing a “substantial chance” of negotiations but warning of action if talks fail.

• Market and Global Impact: The decision has calmed oil prices and equity futures, which had been jittery due to fears of U.S. military involvement in the Israel-Iran conflict, though investors in places like Dubai remain wary of regional fallout.

• European Efforts in Play: Foreign ministers from France, the UK, and Germany are engaging Iran in Geneva to de-escalate tensions, while Trump prepares for a national security meeting to weigh his next steps.

• Market Jitters and Past Lessons: The conflict has rattled markets due to fears of oil supply disruptions, while European leaders stress avoiding past mistakes like those in Iraq and Libya, pushing for diplomacy over war.

Quote of the Day:

The Stablecoin revolution is coming and Circle soars after Senate passes crypto legeslation

The U.S. Senate just passed a game-changing bill for stablecoins, and it’s sending shockwaves through the market—especially for companies like Circle.

• Circle’s Stock Soars: Shares of Circle, the issuer of the USDC stablecoin, jumped 7% on Friday, after a 33% surge on Wednesday, and are up over 500% since its June 5 IPO, showing massive investor excitement.

• GENIUS Act Passes Senate: The bill, called the GENIUS Act, sets clear rules for stablecoins (cryptos pegged to assets like the U.S. dollar), boosting regulatory clarity and encouraging big companies like Amazon and Walmart to explore stablecoin use.

• Next Stop: House of Representatives: The bill now heads to the House, which has its own version (the STABLE Act), but reconciling the two could take time, delaying the final law that might supercharge the $260 billion stablecoin market.

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Starbucks goes MAHA at RFK’s urging

Starbucks is teaming up with the government to make its menu healthier, aligning with the "Make America Healthy Again" (MAHA) initiative.

• Starbucks’ Health Pledge: HHS Secretary Robert F. Kennedy Jr. announced that Starbucks CEO Brian Niccol plans to "further MAHA" the menu, building on existing practices like avoiding artificial dyes, flavors, high fructose corn syrup, and artificial sweeteners.

• Recent Menu Changes: Starbucks has already started testing healthier options, like a protein-packed cold foam for health-conscious customers, and made moves like removing nondairy milk fees and adjusting matcha sweetness levels.

• Bigger Picture: This meeting reflects growing pressure on the food industry to cut harmful additives, with Kennedy pushing to phase out synthetic dyes, signaling a shift toward prioritizing consumer health.

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