HAPPY SATURDAY TO THE STREET.
And welcome back to Street Tweets from The Street Sheet!
2025 has been a tough year for one unexpected market: luxury watches.
The luxury watch market was already facing headwinds such as rising gold prices and competition from cheaper alternatives like the Apple Watch. Now, watch-producing powerhouse Switzerland is facing 39% tariffs.
The silver lining? Secondhand luxury watch prices have dropped for 13 consecutive quarters. So for those of you who ogle vintage Omega Speedmasters as much as undervalued stocks, this might just be your ideal entry point.
— Brooks & Cas
MARKET REVIEW
You want the good news or the bad news first?
The good news came from the likes of Apple $AAPL ( ▲ 1.91% ), Meta $META ( ▼ 0.83% ), and Microsoft $MSFT ( ▼ 1.11% ). Some of America’s biggest tech companies reported increased revenue, margins, and profit fueled by strong fundamentals and AI-powered growth. The latter surged into the $4T market cap club.
The bad news came on Friday, when July and May’s job numbers were revised sharply downward from previous levels. Turns out, the US economy had 258,000 fewer jobs than previously reported. This unfortunate update, along with fresh tariff announcements, sparked a sharp selloff to end the week.
Overall, the bad outweighed the good as all three major indexes finished last week in the red. The S&P 500 slid 2.4% for its worst weekly performance since May 23. The Nasdaq Composite fell 2.2%, while the Dow Jones shed nearly 3%.
MARKET PREVIEW
Next week will feature a few critical economic reports, including factory orders on Monday, import/export data and the trade balance on Tuesday, and jobless claims and quarterly productivity on Thursday.
The latter report in particular could either reaffirm investors’ confidence in the labor market, which seemed shaken by Friday’s jobs data, or add more fuel to the fire.
Also on deck: Speeches from several Federal Reserve governors, who will likely offer their thoughts on whether or not the US economy needs an interest rate cut.
If governors vocalize support for rate cuts, it could really ramp up the pressure on Fed Chair Jerome Powell to cut rates in September. Pressure will also mount if the stock market continues to slide next week.
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live look at figma employees today
— #gaut (#@0xgaut)
7:28 PM • Jul 31, 2025
Figma’s IPO just minted some fortunes.
Design tool Figma $FIG ( ▼ 6.65% ) made headlines by surging 250% on its IPO day — nearly triple the S&P 500’s 5-year return.
While Figma is undoubtedly a great business, that type of jump isn’t really supposed to happen.
It looks like Figma’s investment bank drastically underestimated demand for its stock — by about 3x.
Carvana $CVNA is trading up 16% after hours on earnings in what would be a new all-time high above $370.
This fully erases the 99% drawdown it saw at its December 2022 low. It's up 10,000% since.
Unreal.
— #Bespoke (#@bespokeinvest)
9:08 PM • Jul 30, 2025
Speaking of soaring stocks…
They don’t call it “Carvana the Comeback Stock” for nothing.
OK, nobody calls it that. But they should. Carvana $CVNA ( ▲ 1.54% ) is a great lesson in the importance of timing...
If you bought in late 2021 and sold in 2022, you lost 99%.
If you bought in 2022 and sold today, you’re up 10,000%.
If you bought in late 2021 and held, you’re about even.
Yo, ho, yo, ho, the investor’s life for me…
Microsoft +7% after-hours (up $265B) and Meta +10% after-hours (up $175B).
Total $440B market cap gains and incredible levels of we are so back-ness.
— #Trung Phan (#@TrungTPhan)
8:34 PM • Jul 30, 2025
Turns out, Meta and Microsoft know how to make money!
Who’d’a thunk it?
Both Meta $META ( ▼ 0.83% ) and Microsoft $MSFT ( ▼ 1.11% ) have invested tens of billions of dollars in AI — and now they’re reaping the rewards. But they’re not done yet.
Microsoft plans to spend $30 billion on AI during its next fiscal quarter, while Meta is planning to spend $72 billion on AI for the entire year.
In other words, they sure know how to spend it, too.
Unrelated question: Is Zuck still building the metaverse? Where are we at with that?
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Y Combinator JUST announced what startups they want to fund next in 2025. And they want 10-person companies worth $100 billion (and more).
My notes below in case it's helpful to you:
— #GREG ISENBERG (#@gregisenberg)
8:49 PM • Jul 30, 2025
Want to be “The Next Big Thing”? Here’s your rubric.
Prominent venture capitalist fund Y Combinator named some terms for its next big investments.
According to #3, it’s willing to invest $500,000 for an AI startup that generates $100 billion with just 10 people.
It’s safe to say expectations are sky-high in Silicon Valley.
ALERT: Berkshire Hathaway’s cash position is now 30% of their total assets
Let that sink in.
— #Bravos Research (#@bravosresearch)
1:00 PM • Jul 31, 2025
Buffett is a lot of things — but cash poor ain’t one of them.
Berkshire Hathaway is holding the most cash since the mid-2000’s…
…right before the financial crisis.
What do you think? Coincidence? Or foreshadowing?
