The legacy sequel to The Apprentice just aired another episode.

President Trump fired IRS Commissioner Billy Long a mere 60 days into his tenure. Treasury Secretary Scott Bessent will fill in, while Long is reportedly being floated for an ambassador gig.

No word yet on where the former taxman is headed. But if I had to guess… Luxembourg.

Finally, read to the end for a breakdown of what’s breaking down…

— Brooks & Cas

The top companies target big markets. Like Nvidia growing ~200% in 2024 on AI’s $214B tailwind. That’s why the same VCs behind Uber and Venmo also backed Pacaso. Created by a former Zillow exec, Pacaso’s co-ownership tech transforms a $1.3 trillion market. With $110M+ in gross profit to date, Pacaso just reserved the Nasdaq ticker PCSO.

Invest for $2.90/Share

_{Paid advertisement for Pacaso’s Regulation A offering. Read the offering circular at invest.pacaso.com. Reserving a ticker symbol is not a guarantee that the company will go public. Listing on the NASDAQ is subject to approvals.}

$AAPL ( ▼ 0.3% ) Apple Stock Rally Pushes Nasdaq Near a Record (WSJ)

$SG ( ▲ 0.98% ) Sweetgreen takes record plunge after ripple fries fail to thrill (Bloomberg)

$DOCS ( ▲ 1.23% ) Doximity buys Pathway Medical for $63 million to help doctors get AI-powered answers (CNBC)

$PINS ( ▲ 0.89% ) Pinterest Stock Gets Multiple Price Target Hikes. Shares Tumble on Earnings Miss. (Barron’s)

$LZ ( ▲ 1.31% ) BofA Securities upgrades LegalZoom stock rating to Buy on subscription growth (Investing.com)

Axios: The White House plans to issue an executive order clarifying whether gold bars are subject to tariffs after confusion sent prices to a record high.

AP: Trump will nominate economic adviser Stephen Miran to the Federal Reserve board for a temporary term ending in January 2026.

Reuters: Firefly Aerospace $FLY ( ▲ 2.7% ) shares tumbled the day after a strong Nasdaq debut, despite continued investor interest in high-growth IPOs.

CNBC: Tesla $TSLA ( ▲ 1.39% ) received approval to operate a ride-hailing service in Texas through its Robotaxi unit, with a license valid through August 2026.

Bloomberg: Fannie Mae and Freddie Mac could launch a $30B IPO this year, with a potential combined valuation exceeding $500B.

Gold touched new record highs today. UBS $UBS ( ▼ 0.58% ) believes there’s still at least one attractive way to play the “golden opportunity”.

The firm recently initiated coverage of Kinross Gold Corp $KGC ( ▲ 0.26% ) with a Buy rating and a $20 price target. The bullish stance is largely driven by persistently high gold prices, which UBS believes will remain elevated at around $3,500 per ounce through 2026.

Kinross, a major player in gold and silver mining, stands to benefit from gold’s appeal as a hedge against inflation and geopolitical uncertainty. Analyst Daniel Major emphasized its relative undervaluation, noting that it trades at a discount compared to other gold mining peers.

The bank highlighted Kinross’ strong performance over the past several years, outperforming large-cap rivals like Agnico Eagle $AEM ( ▲ 0.12% ), Newmont $NEM ( ▼ 0.48% ), and Barrick $ABX ( ▲ 0.64% ). This performance has led to a re-rating of its valuation multiple from a lower base, signaling growing investor confidence.

UBS believes Kinross still offers “attractive value” and anticipates that continued operational strength and rising cash returns will fuel further stock re-rating. This positions Kinross as a compelling play for investors looking to capitalize on the ongoing strength in the gold market.

Aside from heightened gold prices, Kinross’s financial strategy adds to its appeal. UBS points to its ongoing debt reduction efforts and strong cash returns to shareholders as signs of fiscal discipline and healthy operations. These factors enhance its ability to deliver value to investors.

Shares are already up more than 90% YTD. But UBS believes that this momentum can continue, especially if macroeconomic and geopolitical conditions continue to favor safe-haven assets like gold.

Most people nearing retirement wonder if they’re truly on the best path. But they don’t always feel comfortable asking for a second opinion.

That’s where Money Pickle comes in.

A simple survey can connect you with licensed fiduciary advisors who specialize in retirement income planning. These are professionals legally required to put your interests first — and their job is to review your current strategy, identify any gaps, and offer objective guidance.

In other words? No pressure, no products, no sales pitch.

Just clarity, confidence, and answers to big questions about taxes, income stability, estate planning, and more — all in a matter of minutes.

TAKE THE SURVEY HERE

WSJ: Trump’s advisers are expanding the Fed chair search to include James Bullard and Marc Sumerlin, among other new contenders.

Bloomberg: The US and Russia are working on a potential truce that would formalize Russia’s control over occupied Ukrainian territory.

AP: Trump presented charts in the Oval Office to defend the economy after jobs data showed signs of a slowdown.

Reuters: UK regulators approved Boeing’s $BA ( ▼ 1.21% ) acquisition of Spirit AeroSystems, opting not to pursue a deeper competition probe.

BI: Is Apple facing its Blackberry $BB ( ▲ 2.46% ) moment? Wedbush’s Dan Ives believes the tech giant could see a massive loss in valuation if it doesn’t pivot to AI.

Forget vibes. This is data.

According to Financial Times, the personality traits employers used to value are going the way of the landline, made obsolete by the internet.

Bullish signal for AI-powered CRM? 🤔

Are you bullish or bearish on Graham Holdings $GHC ( ▼ 0.2% ) over the next 12 months?

▇▇▇▇▇▇ 🐂 Bullish

▇▇▇▇▇▇ 🐻 Bearish