HAPPY SATURDAY TO THE STREET.

And welcome back to Street Tweets from The Street Sheet!

Andy Byron, CEO of open-source data firm Astronomer, has been benched after a viral video showed him cuddling with the company’s head of HR at a Coldplay concert. The board has launched a formal investigation. Interim CEO already named.

Hard to say what’s more surprising: the alleged affair, or the fact that there’s a unicorn startup called Astronomer. We certainly hadn’t heard of it before this week…

— Brooks & Cas

MARKET REVIEW

Investors got plenty of positive news this week.

The producer price index (a key inflation indicator) stayed flat in June, while retail sales rose, and jobless claims fell.

In other words, inflation isn’t spiking, people are still spending, the job market is strong, and the US economic ship is sailing smoothly!

The Nasdaq Composite jumped 1.5%, scraping out a gain on Friday to close at a fresh record high. The S&P 500 rose 0.7%, and the Dow Jones stayed mostly flat.

MARKET PREVIEW

On Monday, the CB Leading Index will be released.

Tuesday will feature the week’s marquee event: an update from Federal Reserve Chair Jerome Powell. The Fed Chair wasn’t exactly a portrait of job security this week, as reports surfaced that President Donald Trump was considering firing Powell. We’ll see if the uncertainty shakes up his typically stoic remarks.

Wednesday will bring a housing market update with fresh data on existing home sales and the 30-year fixed mortgage rate. Thursday will be a busy day with reports on initial jobless claims, new home sales, and three different S&P Global PMIs: manufacturing, services, and composite.

On Friday, the week will conclude with an update on durable goods orders.

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Meet the PARC stocks 👋

Markets have had a modest year so far. But four companies have been on fire:

  1. Palantir $PLTR ( ▼ 1.79% ) — Up 104% YTD.

  2. AppLovin’ $APP ( ▼ 4.42% ) — Up 350% over the past 12 months.

  3. Robinhood $HOOD ( ▼ 2.39% ) — Up 178% YTD.

  4. Coinbase $COIN ( ▼ 2.22% ) — up 80% over the past 12 months.

Could PARC be the next FAANG?

Or are you more of the Inverse Cramer mindset — in which case they’re just a bunch of CRAP?

The “Embodied Intelligence” ETF just dropped.

Viral videos of robots doing crazy stunts are nothing new. The only difference? Now you can invest in them.

KraneShares officially released the Global Humanoid and Embodied Intelligence Index ETF $KOID ( ▼ 0.44% ), which tracks leading robotics and humanoid companies.

You know, so you can start building Wall-E-quity.

OpenAI has momentum. #Analysis.

Banks have started issuing equity research on private companies, giving firms like OpenAI the same analyst love once reserved for the Apples $AAPL ( ▲ 0.9% ) and Amazons $AMZN ( ▼ 0.8% ) of the world.

When you can raise billions, reward employees, and move markets without going public, who needs an IPO?

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Has Google got way mo’ growth ahead?

Google $GOOGL ( ▲ 0.65% ), a long-time stock market outperformer, is down 3% so far this year. Investors are divided.

Bears will point to AI chatbots threatening Google’s primary cash cow, Google Search. Bulls highlight the growth potential of Waymo, YouTube, & Google Cloud.

What do you think? Can this old dog can still learn some new tricks?

Chip ban? Unbanned. Rally? Activated…

Nvidia $NVDA ( ▼ 2.54% ) got word that it can continue selling its H20 chip to China, reversing a ban from April.

The AI giant surged on the news, a move that helped drive the entire Nasdaq Composite up for the week.

As the sole $4 trillion company, good news for Nvidia is good news for the market.

QUESTION

Uber recently announced plans to release 20,000 robotaxis by investing $300m which EV startup?

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