Hello Capitalists,

Trump is receiving a lot of praise from NATO for brokering a promising ceasefire between Israel and Iran. NYC democrats just voted for a radical socialist to be mayor. And Tesla and Nvidia are having incredible days in the market after big news breaks for both tech powerhouses.

Here is everything you need to know:

“Daddy” Trump scores big NATO win

NATO Secretary-General Mark Rutte called President Donald Trump "Daddy" during a joint press conference after Trump compared the Israel-Iran fighting to "two kids in a schoolyard" who "fight like hell." Rutte laughed and said "Daddy has to sometimes use strong language to get it stopped," referring to Trump's profane criticism of both countries.

• Trump's Frustrated Rant: The exchange came after Trump furiously declared that Israel and Iran "don't know what the f–k they're doing" when they broke a cease-fire agreement as soon as it took effect. Trump later announced the deal was back on, posting that "ISRAEL is not going to attack Iran" and planes would "turn around and head home" with a "friendly Plane Wave."

• Excessive Praise: Rutte lavished Trump with praise throughout the summit, calling him a "good friend" and crediting him for "finally" getting Europe to boost military spending to 5%. When asked if he was being too flattering, Rutte said "I think it's a bit of a question of taste," while Trump shared glowing text messages from Rutte praising his "decisive action in Iran."

• NATO Success Claims: Rutte praised Trump for achieving "something NO American president in decades could get done" by getting NATO allies to commit to 5% military spending. Trump, who has been dubbed having a rapport with "the Trump Whisperer" Rutte, said he thinks Rutte likes him and joked that if he doesn't, "I'll come back and I'll hit him hard."

• Trump’s Response: A reporter asked Trump what he thought of the remark, “Mark Rutte, he called you ‘daddy’ earlier, do you regard your NATO allies as you children?”

  Watch Trump’s response below:

• The Top Line Market Numbers:

• DOW: 43020.79 - (⬇️0.16) 🔴

• S&P: 6092.72 - (⬆️0.01) ✅

• NASDAQ: 19945.96 - (⬆️0.17) ✅

• CBOE VIX Volatility Index: 17.33 (⬇️0.15) ⚠️⬇️

NYC takes disturbing step towards becoming Soviet…

New York City mayoral primary just took an alarming turn, shaking up the Democratic race and signaling a radical shift in the city’s political landscape. Zohran Mamdani, a young far-left underdog, has pulled ahead, and former Governor Andrew Cuomo has already thrown in the towel.

• Mamdani’s Stunning Lead: 33-year-old State Assemblyman Zohran Mamdani, a democratic socialist, surged ahead with about 44% of first-choice votes in the Democratic primary, outpacing Cuomo’s 36% with over 80% of votes counted. His high-energy campaign, focussed on a socialist overhaul of New York including rent freezes, government grocery stores and major corporate tax hikes which apparently resonated big time with younger voters.

• Cuomo Concedes Early: Despite the race heading to ranked-choice voting (since no candidate hit 50%), Andrew Cuomo conceded to Mamdani, praising his rival’s “highly impactful campaign” that inspired young voters. Cuomo’s leaving the door open for an independent run in November, though.

• What’s Next: The final winner won’t be confirmed until at least July 1 due to ranked-choice tabulations, but Mamdani’s lead and endorsements from progressives like Brad Lander make him a strong contender to face Mayor Eric Adams (running as an independent) and Republican Curtis Sliwa in the general election.

Quote of the Day:

DC’s Swamp dwellers are leaving as the DOGE cuts start to bite

Federal layoffs tied to the Department of Government Efficiency (DOGE) are shaking things up, and it’s hitting the local housing scene hard.

• Layoffs Driving Market Shifts: Nearly 40% of D.C.-area real estate agents reported working with clients affected by federal layoffs or buyouts in May, with over half saying these job cuts are impacting the housing market, according to Bright MLS.

• Sellers Outnumber Buyers: The market’s seeing a surge in homes for sale—43% of agents noted more sellers—especially from federal workers taking early retirement or facing layoffs, but buyers are hesitant due to economic uncertainty.

• Price Pressure and Inventory Spike: Home prices are starting to dip, though still above national averages, as inventory grows, with 50% more retirement-related sales in D.C. compared to other mid-Atlantic markets.

Tesla launches robotaxis, big industry disruption coming next

Tesla’s robotaxi launch in Ausin Texas is a big deal because it could shake up the entire auto and ride-hailing industry, potentially making Tesla a dominant player in the future of self-driving cars. This isn’t just about cool tech—it’s about transforming how we get around and who controls the market.

• Tesla’s robotaxi could disrupt the auto market: Analysts at Piper Sandler say Tesla’s self-driving tech, rolled out for the first time in Austin, gives it a first-mover edge, potentially reshaping the industry as competitors like Waymo and Baidu scramble to keep up.

• Huge market potential, but risks loom: The robotaxi service could help Tesla grab a massive slice of the $1.5 trillion U.S. mobility market, though analysts warn a crash or poor Q2 results could hurt its sky-high valuation.

• Facing tough competition: While Tesla’s using modified Model Ys to start, rivals like Google’s Waymo (already in multiple U.S. cities) and Amazon’s Zoox are scaling up, with China’s Baidu eyeing Europe.

Nvidia soars as analysts project a share price of $250

Nvidia’s stock is making waves again, and because this tech giant is powering the AI revolution that’s shaping our future its no small thing. Whether you’re an investor or just curious about the tech world, Nvidia’s comeback shows how innovation and market demand can drive massive growth, even after a rough patch.

• Nvidia’s Stock Surge: Nvidia shares climbed over 2% on Wednesday, nearing a record high above its January 2025 close of $149.43, marking a strong recovery from earlier struggles.

• AI Demand Fuels Growth: The company’s turnaround is driven by robust AI chip demand, with Q1 2025 revenue beating expectations and that was despite a $2.5 billion hit from China export bans.

• Bullish Analyst Outlook: Loop Capital raised its price target to $250, the highest on Wall Street, signaling confidence in Nvidia’s continued dominance in AI technology.