And welcome back to Street Tweets from The Street Sheet!
Venture capitalists might’ve found a new favorite sector: Defense technology.
Last week, Anduril Technologies raised $2.5 billion in a funding round that was reportedly more than 8x oversubscribed. The startup is now worth $30.5 billion, leading a new wave of defense tech unicorns like Scale AI, Shield AI, and Skydio — each worth over $1B.
If it’s wearing camo and comes with a government contract, investors want in.
— Brooks & Cas
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Markets enjoyed a strong week, including a pre-weekend rally on Friday that was fueled by strong employment data.
The economy added 139,000 new jobs in May, which, despite being lower than April’s levels, was better than most analysts were expecting.
Unemployment also held steady at 4.2% last month, a semi-miracle considering all the turbulence from DOGE, tariffs, and the trade war(s). We’ll chalk it up to good old-fashioned American resilience 🇺🇸
The Dow Jones rose 1.7%, the S&P 500 was up 2%, and the NASDAQ soared 2.5%.
On Monday, consumer inflation expectations will be released.
Tuesday will feature the NFIB Business Optimism Index and an update on US crude oil inventories.
Wednesday will reveal insight into May’s inflation rate, a highly anticipated release.
Thursday will reveal more inflation data with the release of the producer price index, along with initial jobless claims and the Fed balance sheet.
On Friday, the University of Michigan will release its preliminary consumer sentiment report.
NASDAQ down 0.2% on the year. Basically flat. So pretty much everything. Tariffs, DOGE, removing tariffs, adding them back in, Elon leaving DOGE, Elon and Trump having a falling out. Basically all priced in.
— Joe Weisenthal (@TheStalwart)
7:21 PM • Jun 5, 2025
Despite a drama-filled start to the year, all 3 major indexes have recovered their losses and are largely flat halfway through the year.
A big congratulations to any readers who bought the dip 👏
President Trump threatens to cut Elon Musk's government contracts.
Tesla stock is plunging.
— Brew Markets (@brewmarkets)
7:35 PM • Jun 5, 2025
President Trump and top advisor Elon Musk have been feuding, which sent Tesla $TSLA ( ▼ 2.24% ) sliding on Thursday. The stock is now down nearly 25% YTD, but still up 400% over 5 years.
The feud has featured a blend of general pettiness (like Trump threatening to sell his Tesla) and serious allegations (like Musk stating that Trump is in the Epstein files).
With all this tweeting going on, we just have one question: Don’t you both have companies and countries to run?
UPDATE: $CRCL is up 200% 😳
— Stocktwits (@Stocktwits)
5:04 PM • Jun 5, 2025
The crypto company, Circle, made waves this week by rising 200% during its initial public offering.
This is yet another sign of strength from the crypto industry, as more and more companies have been adding BTC to their balance sheet.
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JUST IN: Amazon $AMZN to test humanoid robots for deliveries.
— Watcher.Guru (@WatcherGuru)
1:18 AM • Jun 5, 2025
It’s probably just Amazon testing its new robot delivery system.
The Everything Store is apparently “creating robots that can hear, understand, and act on natural language commands.”
Good idea. It’s not like that could ever backfire in any way.
$MSFT at new all time high today.
$3.5 trillion, largest company on the world, bypassing $NVDA.
Fundamentals win again.
— Wasteland Capital (@ecommerceshares)
5:47 PM • Jun 6, 2025
Now there are at least 10 trillion-dollar companies.
Which company do you think will be the first to reach $10 trillion?
The anniversary of which famous military event happened yesterday, Friday, June 6th? |
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