Hello Capitalists,

Trump sends in the troops as local businesses struggle to survive the LA riots. What does he get for it? Sued by Gavin Newsom… Here’s some good news: The White House launches investment accounts for newborns that would be a financial game changer for young Americans, the Gulf of America is making a fortune, Disney secures Hulu after 16 years, and Ford just dropped the new retro inspired Mustang.

Let’s break it down for you:

• The Top Line Market Numbers:

• DOW: 42762.36 (⏸0.00) 

• S&P: 6007.06 (⬆️0.11)

• NASDAQ: 19581.21 (⬆️0.26)

Rioters set self-driving cars ablaze, company removes service in downtown LA

As anti-ICE rioters loot and destroy Los Angeles, Waymo, Google's autonomous vehicle subsidiary, has temporarily pulled its self-driving cars from the downtown area after multiple vehicles were reportedly set on fire.

• Why?: The company said it removed cars from downtown "out of an abundance of caution" and is coordinating with law enforcement, though it plans to continue operating in other parts of LA. The Los Angeles Police Department confirmed around 9:15 p.m. Sunday that "multiple autonomous vehicles" had been set ablaze as part of the unrest.

• Multiple businesses were looted and vandalized overnight in downtown Los Angeles, with graffiti covering buildings for several blocks including the LA Times building. Video showed looters breaking into a T-Mobile store on South Broadway after midnight, while police also responded to reports of looting at an Adidas store, recovering some stolen merchandise.

• Police have declared all of downtown LA an unlawful assembly area and reported 42 arrests from Sunday's violent protests, including 19 by the California Highway Patrol after demonstrators shut down the 101 Freeway for hours. National Guard troops are now posted around federal buildings with a heavy law enforcement presence throughout the area.

• Trump deployed some 2,000 National Guard troops on Sunday and 700 U.S. Marines on Monday to the area to address the violence and destruction as he faces backlash from local leaders like Mayor Karen Bass and Governor Gavin Newsom. (More on this below)

Trump and Elon friends again?

Elon Musk signaled that his feud with President Donald Trump may be coming to an end after the President made a kind statement to the press.

• Trump told reporters Monday "We had a great relationship and I wish him well — very well, actually." Musk responded with a heart emoji, suggesting the former "First Buddy" may be ready to move past their bitter falling-out from last week.

• The conflict escalated dramatically over Trump's "One Big Beautiful Bill Act," which Musk called an "outrageous, pork-filled" measure and "disgusting abomination" that would increase the federal deficit by $3 trillion. Musk went "nuclear" on June 5, taking credit for Trump's electoral victory and even accusing the White House of concealing Jeffrey Epstein files to protect Trump, though he later deleted those posts.

• Trump fired back, saying Musk "went crazy" and "lost his mind," threatening to cut government contracts to Musk's companies. This prompted Musk to threaten decommissioning the Dragon spacecraft—the government's primary way to send humans to space—though he later backed down from that threat as tensions appear to be de-escalating.

Quote of the Day:

Trump Accounts for babies could change forever what growing up in America looks like

Parents and future parents, listen up! The White House is buzzing about a new plan that could give every newborn a financial head start, and it’s worth knowing about because it might just change the game for your kids’ future.

• What’s the Deal? President Trump is pushing a policy in the One Big Beautiful Bill Act to give every U.S. citizen newborn $1,000 in a tax-deferred investment account, called “Trump Accounts,” to kickstart their financial future.

• When and Who? The pilot program would cover kids born between January 1, 2024, and January 1, 2029, as long as at least one parent has a valid Social Security number.

• How It Works: The $1,000 goes into a low-cost index fund tracking the stock market, managed by the child’s guardians, with the option to add up to $5,000 a year.

• Big Names Backing It: CEOs from companies like Dell, Uber, and Goldman Sachs are on board, with Dell pledging to match the $1,000 for their employees’ kids.

• Why It Matters: Supporters say these accounts could grow into hefty nest eggs by age 18—potentially $50,000 with just $750 extra saved yearly—helping with education, housing, or starting a business.

Newsom is suing Trump for trying to maintain law and order in LA

California’s Governor Gavin Newsom is taking on President Donald Trump in a legal showdown over the deployment of National Guard troops in Los Angeles.

• Lawsuit Filed: California, led by Newsom and Attorney General Rob Bonta, is suing Trump and Defense Secretary Pete Hegseth, arguing that the federal government illegally took control of 2,000 California National Guard troops to handle protests in L.A. without the governor’s consent.

• Why the Troops?: Trump ordered the National Guard to L.A. to manage protests sparked by Immigration and Customs Enforcement (ICE) raids, claiming the demonstrations were a “rebellion” against federal authority.

• Newsom’s Stance: Newsom calls the deployment “illegal, immoral, and unconstitutional,” saying local law enforcement had the situation under control and accusing Trump of escalating tensions for political gain.

• Heated Rhetoric: Trump upped the ante by supporting his border czar’s threat to arrest Newsom for obstructing ICE operations, while Newsom fired back, calling Trump’s actions a move toward “authoritarianism.”

• Marines Involved Too: The Defense Department also sent 700 U.S. Marines to L.A. to support the Guard, prompting Newsom to consider additional legal action to block their deployment.

• Bigger Implications: The lawsuit argues Trump’s move violates state sovereignty and the Constitution, setting a precedent that could affect how federal power is used in other states.

The Gulf of America leads the charge of Trump’s “Drill Baby Drill” policy

The U.S. is flexing its energy muscle on the global energy stage thanks to President Trump’s push for “energy dominance.” It’s is all about ramping up U.S. oil production, especially in the Gulf of Mexico, to secure a stronger economic and geopolitical position.

• Oil Output Surge: U.S. crude oil production is set to hit a record 13.4 million barrels per day in 2025, with the Gulf of Mexico leading the charge, contributing nearly 2 million barrels daily.

• Gulf’s Comeback: After years of decline, the Gulf is seeing a revival with new projects like Chevron’s Anchor field, which uses cutting-edge deepwater drilling tech to boost output.

• Trump’s Strategy: Trump’s “energy dominance” plan aims to leverage fossil fuels for economic and geopolitical clout, pushing for more drilling to keep the U.S. as the world’s top oil producer.

• Economic Implications: Increased production could lower oil prices, but recent price drops (below $70/barrel) are squeezing smaller producers, potentially leading to job cuts or reduced investments.

• Global Market Impact: The U.S. is outpacing OPEC+ in oil supply growth, with Gulf exports helping meet global demand, especially as countries like China rely heavily on U.S. ethane for plastics.

The make up of the US Job market is changing

The U.S. job market is a hot topic because it’s shaping how people find work and what kinds of jobs are out there and the new jobs are popping up.

• Job Growth Continues: The U.S. added 254,000 jobs in September 2024, beating expectations, with unemployment dropping to 4.1%, signaling a robust labor market.

• Sector-Specific Gains: Most new jobs are in leisure, hospitality, healthcare, and government, while sectors like manufacturing and tech see slower growth or layoffs.

• Mismatch for Workers: Many new jobs don’t align with the skills or expectations of unemployed workers, especially those from declining industries like manufacturing.

• Wage Growth Slows: Wages are rising slower than inflation, making it harder for workers to keep up with living costs despite more job openings.

• Part-Time Work Rises: There’s an increase in part-time and gig jobs, which often lack benefits and stability, leaving some workers frustrated.

Quantum computing is the future and IBM just made a huge announcement

Quantum computing sounds like something straight out of a sci-fi movie but IBM just made a big move that brings us closer to making it a real-world game-changer. Their latest announcement about building a fault-tolerant quantum computer by 2029 is a huge deal because it could unlock solutions to problems that our current computers would take thousands of years to crack. This isn’t just techy hype—it could revolutionize industries like medicine, finance, and logistics.

• Big Goal for 2029: IBM plans to deliver "Starling," the world’s first large-scale, fault-tolerant quantum computer by 2029, capable of running 20,000 times more operations than today’s quantum systems.

• Fault-Tolerant Breakthrough: Starling will be designed to operate without errors, a major leap that makes quantum computing reliable for practical uses like drug discovery and supply chain optimization.

• New York Data Center: The quantum computer will be housed in IBM’s new quantum data center in Poughkeepsie, New York, with about 200 logical qubits to tackle complex problems.

• Efficient Error Correction: IBM is using a new code called qLDPC, which allows error correction with fewer qubits, making the system faster and more scalable.

• Industry Impact: Experts predict the quantum computing market could hit $8.6 billion by 2028, with IBM’s advancements paving the way for applications in semiconductors, finance, and more.

• Competitive Race: IBM is up against tech giants like Microsoft, Google, and Amazon, plus startups like IonQ, in a heated race to dominate quantum computing.

Ford’s new Mustang is the ultimate 80’s throwback

Mustang fans, get ready to take a trip back to the '80s! Ford just dropped the 2026 Mustang FX Package, and it’s a total love letter to the iconic Fox Body Mustang that ruled the roads in the '80s and '90s. Think retro vibes mixed with modern muscle.

• Retro Styling That Pops: The FX Package brings back the Fox Body’s angular, '80s cool with Oxford White accents on badges, grille nostrils (optional on Performance Pack models), and two 19-inch wheel designs—split-five-spoke or a turbofan-style throwback.

• New Color, Old Soul: Adriatic Blue Metallic, a teal-inspired hue, channels the 1993 SVT Mustang Cobra, while Orange Fury Metallic Tricoat makes a comeback for the first time since 2019, available across all Mustang models.

• Nostalgic Interior Vibes: Inside, you get perforated leather seats with plaid inserts that scream '80s, plus City Silver and Adriatic Blue stitching, and a retro Mustang GT badge on the dash.

• GT Premium Exclusive: The FX Package is only for GT Premium models (coupe or convertible, manual or auto), packing a 480+ horsepower 5.0-liter V8 for that modern muscle feel.

• Extra Retro Goodies: The digital gauge cluster can switch to a Fox Body-style layout with green-glow lettering, and white taillights (available via Ford Performance Parts) add more '80s flair.

• Order Soon!: Order books open in late June 2025, so fans of this nostalgic mashup need to act fast to snag one. Pricing details are still to come.

Disney finally acquires Hulu after nearly 16 years

Disney just wrapped up a major deal that’s a big step for their streaming empire. Disney has just made a $439 million payment to Comcast to fully own Hulu, which is kind of a big deal in the world of streaming wars. It’s a move that shows Disney’s doubling down on controlling the platforms where we all binge our favorite shows.

• Disney’s Big Buyout: Disney paid Comcast $438.7 million to acquire the remaining 33% stake in Hulu, giving them full ownership of the streaming service.

• Years-Long Saga Ends: This deal, finalized after an extended appraisal process, resolves a long-standing joint venture that began in 2009 between Disney and Comcast’s NBCUniversal.

• Streaming Power Play: Full control of Hulu lets Disney integrate it more deeply with Disney+ and ESPN’s upcoming direct-to-consumer service, strengthening their streaming portfolio.

• Bob Iger’s Vision: Disney’s CEO, Bob Iger, highlighted the deal as a key move to enhance their streaming strategy, aiming to compete better in a crowded market.

• Financial Details: The payment will be recorded as a noncontrolling interest charge and won’t affect Disney’s adjusted earnings per share for fiscal 2025.

• Deal Timeline: The agreement to buy Comcast’s stake was made in 2023, with the transaction set to be fully completed by July 24, 2025.