Trump Letter To Epstein: Victims' Lawyer Says Lawmakers Could Subpoena Birthday Book ‘So Quickly'
Lawmakers could soon get President Donald Trump's alleged birthday letter to Jeffrey Epstein, if it exists, as an attorney for Epstein's victims told MSNBC on Wednesday that Epstein's estate is in possession of the book of birthday letters and would comply with a subpoena to turn them over—and Rep. Ro Khanna, D-Calif., suggested such a subpoena will be filed.
Jeffrey Epstein (left) and now-President Donald Trump in 1997 at Trump's Mar-a-Lago estate in Palm ... More Beach, Florida. Getty Images
Key Facts
The Wall Street Journal reported last week Trump wrote a 'bawdy' letter to Epstein as part of a birthday book of letters for the financier's 50th birthday, which allegedly included a drawing of a naked woman and Trump telling Epstein, 'Happy Birthday — and may every day be another wonderful secret.'
The reported letter has become a major point of contention, with Trump strongly denying that it exists and bringing a $10 billion defamation lawsuit against the Journal for reporting that it does.
Attorney Bradley Edwards, who represents some of Epstein's victims, told MSNBC on Wednesday that the existence of the birthday book 'is an absolute fact' and some of his clients were directed by Epstein associate Ghislaine Maxwell to help assemble it, though he could not confirm if Trump wrote one of the letters.
Epstein's estate is still in possession of the birthday book, Edwards said, and he believes they would likely comply with a subpoena for it, telling MSNBC, 'If someone simply called them on the phone and said, 'Give us the book,' they would probably give you the book.'
Khanna, who appeared on MSNBC right after Edwards, suggested the House Oversight Committee 'can easily move forward' on subpoenaing the book, telling anchor Lawrence O'Donnell that would likely be the 'cleanest way forward' to get Epstein documents, versus hoping the Justice Department will turn materials over.
Darren Indyke, the attorney in charge of Epstein's estate, has not yet responded to a request for comment.
Crucial Quote
The lawyers handling Epstein's estate 'would turn the book over immediately. No one would have to guess … You could flip to the page, 'Is there a letter, is there not a letter.' It's over, the victims would get to move on,' Edwards told MSNBC. 'We could solve this problem so quickly if people actually want to solve problems.'
What's In Epstein's Birthday Book?
Maxwell gathered letters from 'dozens' of Epstein's associates for the financier's 50th birthday in 2003 and compiled them into a 'leather-bound album,' according to the Journal. Epstein's friends wrote 'bawdy' letters to him for the book, the Journal reports, with lawyer Alan Dershowitz and billionaire Les Wexner reportedly among those who contributed letters. Trump's alleged letter reportedly included the following fictional exchange between Trump and Epstein:
'Voice Over: There must be more to life than having everything.
Donald: Yes, there is, but I won't tell you what it is.
Jeffrey: Nor will I, since I also know what it is.
Donald: We have certain things in common, Jeffrey.
Jeffrey: Yes, we do, come to think of it.
Donald: Enigmas never age, have you noticed that?
Jeffrey: As a matter of fact, it was clear to me the last time I saw you.
Donald: A pal is a wonderful thing. Happy Birthday — and may every day be another wonderful secret.'
The Journal did not print the letter in full, and Trump has strongly denied that it exists, claiming he 'never wrote a picture.'
Tangent
Edwards' comments came after the House Oversight Committee separately voted Wednesday night to subpoena the Justice Department for its files on Epstein. Khanna noted on MSNBC that the subpoena is likely to be difficult to actually enforce, however, given the DOJ is unlikely to comply with it, and would not take any legal action against itself for not complying. The committee has also subpoenaed Maxwell for testimony about Epstein's sex trafficking operation.
Key Background
The Journal's report on Trump's letter to Epstein came as a bombshell as controversy had already been intensifying over the president's relationship with the late financier. The DOJ's recent decision this month not to release further Epstein files has provoked a widespread backlash from even the president's own supporters, as it came after DOJ officials had repeatedly said they would release the documents. Trump allies including DOJ officials like FBI Director Kash Patel had pushed conspiracy theories tied to the Epstein files for years—such as the existence of an Epstein 'client list'—sparking outrage when those same officials later reversed course and said no such conspiracies exist. The uproar has led to increased scrutiny of Trump's friendship with Epstein, as the president is well-documented to have been friends with the late financier in the 1990s and early 2000s before a falling out in 2004. Trump has never been accused of any wrongdoing in connection with Epstein, who died in prison in 2019 after being accused of sexually abusing hundreds of women, many of whom were underage. The Journal later reported Wednesday that DOJ officials told Trump his name appeared in the Epstein files, though he has still not been accused of participating in any of the financier's alleged crimes.
Further Reading
Forbes
Trump Sues Rupert Murdoch, Dow Jones Over WSJ Story Linking Him To Jeffrey Epstein
Forbes
Trump Told In May He Was In Epstein Files, Report Says
Forbes
Why Trump's Epstein Case Against Wall Street Journal Could Backfire On Him
Forbes
FBI Agents Told To 'Flag' Epstein Files Mentioning Trump, Senator Claims
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
14 minutes ago
- Yahoo
Democrats Schumer, Jeffries demand meeting with GOP to avert government shutdown
Sen. Chuck Schumer and Rep. Hakeem Jeffries Monday called on their Republican counterparts to meet immediately to avert a government shutdown looming as soon as the end of next month. The Democratic congressional leaders, both of whom are from New York, called on Senate Majority Leader John Thune, R-South Dakota, and Speaker Mike Johnson, R-Louisiana, to sit down this week to discuss a plan to pass next year's budget, which would normally require negotiation with the minority party to secure the 60 votes needed in the Senate to avoid a filibuster. 'We have the responsibility to govern for all Americans and work on a bipartisan basis to avert a painful, unnecessary shutdown at the end of September,' Schumer and Jeffries wrote. The Democratic leaders noted they are willing to work with Republicans on a bipartisan basis to negotiate a budget deal that would keep the government open past Sept. 30. But they accused President Donald Trump and GOP leaders of plotting to govern without any input from Democrats and shut down the government if they don't get their way. 'Many within your party are preparing to 'go it alone' and continue to legislate on a solely Republican basis,' the Democratic leaders wrote. Government funding will expire Sept. 30. Lawmakers say to prevent a shutdown Congress will likely need to pass a stopgap funding measure when lawmakers return to Washington, D.C., after Labor Day. In exchange for their cooperation in passing new budget measures, Democrats want Republicans to agree not to turn around later in the year and pass a rescissions package cutting some of that same funding. Republicans recently voted to claw back $9 billion in previously appropriated funding and defunded the Corporation for Public Broadcasting, taking advantage of the legislative loophole that rescissions only require a simple majority in the Senate, not a 60-vote bipartisan supermajority. Schumer and Jeffries are also pressing for the administration to release funding it has unilaterally held up even though it was allocated by Congress last year. Republicans have suggested they may seek to pass one or more policy bills before the midterm elections using the arcane reconciliation process, like they successfully did with Trump's One Big Beautiful Bill. That measure, which polls say is very unpopular with voters, enacted draconian cuts to health care spending to bankroll tax cuts for the wealthy and big corporations. _____
Yahoo
14 minutes ago
- Yahoo
Recount for New Jersey's 39th District has begun. See who will pay for it
The official recount of the 39th Legislative District Democratic General Assembly from the June primary results began on Monday, Aug. 4. Candidate David Jiang, who came in third place with 8,317 votes, requested the recount. Jiang's running mate, Andrew LaBruno, received the nomination with the most votes at 9,137. Donna Abene received 8,454 votes in second place — 137 votes more than Jiang. Candidate Damon Englese came in fourth place with 6,137 votes. Only the first and second-place finishers will be on the November ballot for the two General Assembly seats and will face Republican incumbents Robert Auth and John Azzariti Jr. on Nov. 4. Board of Elections Chairman Richard Miller said, vote-wise, there is a big gap, but percentage-wise, it is 0.43% — it was a close race. Story continues below photo gallery. "The candidate felt that he wanted to do this, and the judge ruled that we should hold the recount," Miller said. "I don't think he will pick up that many votes, but you never know and he's entitled to this, so we are proceeding with it." A candidate who calls for a recount will pay a percentage of the total cost. Miller said the board of elections will cover about $20,000 for the recount, and the candidate will be charged approximately $2,500. "It's definitely an expense, but it's what the judge ruled," Miller said. "This is democracy at work. Sometimes we don't agree because of the cost, but you have to do what you have to do." Story continues below photo gallery. At 11 a.m. on Aug. 4, a team of people began the hand count of the 8,000 votes that were mailed in, as well as the provisional ballots from the 28 towns that fall under the 39th District. There will be two teams with a designated commissioner cross-checking the names and ballots. This is the first district-wide recount in at least the last 14 years, Miller said. Assembly District 39 is comprised of Bergen County municipalities Allendale, Alpine, Closter, Cresskill, Demarest, Dumont, Emerson, Harrington Park, Haworth, Hillsdale, Ho-Ho-Kus, Mahwah, Midland Park, Montvale, Northvale, Norwood, Oakland, Old Tappan, Park Ridge, Ramsey, River Vale, Rockleigh, Saddle River, Upper Saddle River, Waldwick, Washington (Bergen), Westwood and Woodcliff Lake. LaBruno and Jiang's website said it's "time to flip the 39th," a district that has not elected a Democrat since 1978. "We're proud to share that Andrew has won a seat on the slate by a healthy margin — and we're still waiting on final vote-by-mail and provisional ballot counts to see if we can get David across the finish line. We're staying hopeful and optimistic while we wait for the final results," the last update on their campaign website said. A message for comment left on their website was not immediately returned. "We're incredibly proud of this campaign — powered by the people. Every door knocked, every conversation had, and every sign planted was driven by real grassroots energy," their campaign website said. "The preliminary results showed your efforts: LD39 had an impressive 36% voter turnout, compared to last year (22%) and 2023 (12%)." LaBruno and Jiang were part of Steven Fulop's team as the Jersey City mayor sought the Democratic nomination for New Jersey governor. Mikie Sherrill received the Democratic nomination and Jack Ciattarelli the Republican in June's primary. This article originally appeared on Recount to represent Bergen County in 39th District has begun Solve the daily Crossword
Yahoo
14 minutes ago
- Yahoo
Stock market today: Dow jumps 500 points, S&P 500, Nasdaq rally in bounce back from Friday sell-off
US stocks rebounded sharply Monday, recovering from last week's sell-off sparked by disappointing labor data and continuing trade uncertainty. The benchmark S&P 500 (^GSPC) climbed 1.4%, while the blue-chip Dow Jones Industrial Average (^DJI) rose 1.3% or more than 500 points. The tech-heavy Nasdaq Composite (^IXIC) led the gains, rising about 1.7%. The moves follow a sharp pullback on Wall Street on Friday. All three major indexes posted their worst weekly declines in months, ending a run of positive market moves. The declines were exacerbated Friday after July's jobs report came in weaker than expected, and previous months' tallies were revised sharply lower, flipping the narrative on the labor market's strength. It led President Trump to lash out at the Bureau of Labor Statistics (BLS), which publishes the monthly jobs report, and fire its commissioner. Trump suggested he would nominate a new head for the agency in the coming days. Trump's battle with the Fed and Chair Jerome Powell has also remained in focus. Traders tempered expectations around interest rate policy following the bank's decision last week to leave rates unchanged for a fifth consecutive meeting. But after the weak jobs data, almost 90% of bets are on a cut in September. At the same time, investors are examining fallout from Trump's implementation of tariffs. The updated tariffs set to come into full effect this week range from 10% to 41% on a wide range of trading partners and raise concerns about rising costs amid broader inflationary pressures. On Monday Trump said he would be "substantially raising" tariffs on India as he presses to stop purchasing Russian oil, effectively accusing the nation of subsidizing Russia's war in Ukraine. Meanwhile, Tesla (TSLA) stock edged higher after reports emerged that the company had granted CEO Elon Musk 96 million shares worth about $29 billion. Read more: The latest on Trump's tariffs Earnings season continues to roll on with a busy week of corporate releases. Over 100 S&P 500 companies are set to report, with spotlights on Palantir (PLTR), Eli Lilly (LLY), and Disney (DIS). American Eagle stock rises 16% after Trump weighs in on viral Sydney Sweeney ad Yahoo Finance's Jake Conley reports: Read more here. Amazon's slowing cloud growth could continue to drag on its stock Yahoo Finance's Francisco Velasquez reports: Read more here. Tariffs not expected to cause recession or end bull market, says UBS As President Trump's tariff policy pans out, UBS strategists signal it won't cause a recession or spell the end of a bull market. 'Our base case remains that US tariffs will eventually settle around 15%," Ulrike Hoffmann-Burchardi, UBS Global Wealth Management's chief investment officer for Americas and global head of equities, wrote in a note on Monday morning. "While this would be the highest since the 1930s, and six times higher than when Trump returned to office, we do not expect it to cause a recession or end the equity bull market." In recent days, Trump has unleashed a flurry of trade deals, including a 90-day reprieve on goods imported from Mexico and 15% tariffs on EU goods. On Friday, Trump signed an order to hike tariffs on Canada to 35%, while he kept a baseline minimum rate of 10% across all US is set to implement duties this week. Trump says he will 'substantially' raise tariffs on India President Trump said on Monday he will "substantially" raise tariffs on India. Stocks still remained in rally mode following Friday's sell-off. "India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits," Trump wrote on Monday morning. "They don't care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA," he added. President Trump's sweeping tariffs are set to come into full effect later this week. Last Wednesday, Trump announced a 25% tariff on goods from India, plus an additional import tax because of the country's purchasing of Russian oil. Tesla shares jump 3% as board approves $30 billion alternative pay deal for Musk Tesla's (TSLA) shares jumped 3% on Monday after the EV maker's board approved a $30 billion alternative compensation plan for its billionaire CEO, Elon Musk. As Yahoo Finance's Alexis Keenan reports: Read more here. Stocks open higher following market sell-off US stocks opened higher on Monday, rebounding from a sharp sell-off spurred by disappointing labor data and tariff uncertainty. The S&P 500 (^GSPC) climbed 0.6% on Monday, while the tech-heavy Nasdaq Composite (^IXIC) rose 0.9%. The Dow Jones Industrial Average (^DJI) moved up 0.5%. Markets are coming off a Friday sell-off sparked by tariffs on dozens of countries that start on Aug. 7 and monthly jobs revisions to the downside that implied a labor market slowdown is underway. Trending tickers in premarket trading: Opendoor, Palantir, Tesla, Joby, Tyson Here's a look at what's trending in markets ahead of the opening bell: Opendoor (OPEN) stock popped 16% ahead of second quarter results on Monday morning. As my colleague Jake Conley has detailed, the stock has seen a resurgence in investor interest, powered by a bull case by EMJ Capital and speculative bets posted on Reddit forums. Palantir (PLTR) stock rose 2%. On Friday, the company announced it snagged a contract with the US Army that combines over 75 agreements into one package deal worth $10 billion over the next decade. The software and AI data company will report earnings after the bell on Monday. Tesla (TSLA) shares added more than 2% after the company approved a new pay package worth $29 billion for CEO Elon Musk amid an intense court battle in Delaware. The pay package is designed to boost Musk's voting power over time, which shareholders say is key to keeping him focused on the company and its mission, the special committee said in the filing. Joby (JOBY) shares climbed 5% premarket after the electric air taxi developer said it would acquire Blade Air Mobility's helicopter rideshare business for as much as $125 million. The deal would give Joby access to a network of air terminals in key areas like New York City. Blade Air (BLDE) stock rocketed nearly 30% higher on the news. Tyson Foods (TSN) stock increased 4% after the company reported fiscal third quarter results that beat expectations. The company raised its annual revenue forecast and said it expects resilient demand for chicken to offset weakness in the beef segment as high cattle prices weigh on profits. Check out more trending tickers here. Wayfair stock surges after online furniture retailer swings to a profit Wayfair (W) stock shot up 10% in premarket trading on Monday after the online furniture retailer reported its highest revenue growth and profitability since 2021. Wayfair posted diluted earnings of $0.11 per share, above estimates for a loss of $0.37 per share, according to S&P Global Market Intelligence. Revenue rose 5% to $3.27 billion, beating Wall Street's expectations of $3.12 billion. Net revenue in the US rose 5.3% to $2.9 billion in the quarter, while international net revenue increased 3.1% to $399 million. "We are optimistic that sales growth, along with management's commitment to controlling expenses/investments, may create a longer-term positive inflection in earnings revisions, on top of what we view as an attractive valuation," JPMorgan's Christopher Horvers wrote in a note ahead of earnings. "Further, over the next three to five years, [Wayfair] should outgrow the category given the longer-term shift toward online retailing and its advantaged assortment/ supply chain as the largest scaled online specialty player in the industry." Read more live coverage of corporate earnings here. Good morning. Here's what's happening today. Economic data: Factory orders (June) Earnings: Hims & Hers (HIMS), Palantir (PLTR), Tyson (TSN), Wayfair (W) Here are some of the biggest stories you may have missed over the weekend and early this morning: Job market worries in focus as earnings season rolls on Tesla approves near-$30B stock award for Musk US says rare earth talks with China 'halfway there' Trump to name new Fed governor, jobs data head in coming days Boeing defense union strikes for first time since 1996 Morgan Stanley's Wilson: Buy stocks dip on earnings strength Citi's gold bears turn bullish on US growth, inflation concerns Joby to acquire Blade Air's passenger business for $125M Swiss stocks decline on US tariffs, push for lower drug prices Oil slides as traders assess OPEC+ hike and Russian risks Oil eased on Monday as investors digested OPEC+'s latest supply increase, helping to counter a threat from Washington to move against Russian oil flows. Bloomberg News reports: Read more here. Morgan Stanley's Wilson: Buy stocks dip on earnings strength Morgan Stanley's strategist Michael Wilson said on Monday that investors should buy into bthe selloff in US stocks because of the robust earnings outlook for the coming year. Bloomberg reports: Read more here. Citi's gold bears turn bullish on US growth, inflation concerns Citigroup Inc (C) have turned from bearish to bullish on its gold (GC=F) forecast, with analysts now predicting bullion will rally to a record high in the near term due to a worsening US economy and inflation-boosting tariffs. Bloomberg News reports: Read more here. Goldman with a sobering view on the consumer Goldman Sachs out this morning with a subdued outlook on the US consumer following Friday's lackluster jobs report. Good read on the consumer from the WSJ today, mirrors what Procter & Gamble's (PG) CEO told me on earnings day. Goldman's chief economist Jan Hatzius: "We expect the weakness in consumer spending to continue in the second half of the year and forecast 0.8% real spending growth in 2025H2. Our view is underpinned by the expectation of a sharp slowdown in real income growth from its elevated pace in 2025H1. Income growth will be hit in Q3 by the phasing out of the one-off 2025H1 government transfer payments and in Q4 by the Medicaid and SNAP benefit cuts included in the new fiscal bill, which will take effect in 2025Q4 and affect lower-income households in particular. We also see higher tariff-driven inflation to impose a drag on real income growth in the second half of the year. Finally, we expect weak job growth due to lower immigration, cuts in government and healthcare hiring, and a tariff-related decline in activity. We expect declines in both business and residential investment in the second half of the year." Swiss stocks decline on US tariffs, push for lower drug prices Swiss stocks took a hit on Monday as the market reopened after a holiday. Worries about the impact from President Trump's 39% export tariffs and a push for drugmakers to lower prices have caused tension in the market. Bloomberg News reports: Read more here. Gold steady with weak job data bolstering the precious metal Gold (GC=F) held gains after a two month run of positivity as weak jobs data gave another reason to look towards haven assets. Bloomberg reports: Read more here. American Eagle stock rises 16% after Trump weighs in on viral Sydney Sweeney ad Yahoo Finance's Jake Conley reports: Read more here. Yahoo Finance's Jake Conley reports: Read more here. Amazon's slowing cloud growth could continue to drag on its stock Yahoo Finance's Francisco Velasquez reports: Read more here. Yahoo Finance's Francisco Velasquez reports: Read more here. Tariffs not expected to cause recession or end bull market, says UBS As President Trump's tariff policy pans out, UBS strategists signal it won't cause a recession or spell the end of a bull market. 'Our base case remains that US tariffs will eventually settle around 15%," Ulrike Hoffmann-Burchardi, UBS Global Wealth Management's chief investment officer for Americas and global head of equities, wrote in a note on Monday morning. "While this would be the highest since the 1930s, and six times higher than when Trump returned to office, we do not expect it to cause a recession or end the equity bull market." In recent days, Trump has unleashed a flurry of trade deals, including a 90-day reprieve on goods imported from Mexico and 15% tariffs on EU goods. On Friday, Trump signed an order to hike tariffs on Canada to 35%, while he kept a baseline minimum rate of 10% across all US is set to implement duties this week. As President Trump's tariff policy pans out, UBS strategists signal it won't cause a recession or spell the end of a bull market. 'Our base case remains that US tariffs will eventually settle around 15%," Ulrike Hoffmann-Burchardi, UBS Global Wealth Management's chief investment officer for Americas and global head of equities, wrote in a note on Monday morning. "While this would be the highest since the 1930s, and six times higher than when Trump returned to office, we do not expect it to cause a recession or end the equity bull market." In recent days, Trump has unleashed a flurry of trade deals, including a 90-day reprieve on goods imported from Mexico and 15% tariffs on EU goods. On Friday, Trump signed an order to hike tariffs on Canada to 35%, while he kept a baseline minimum rate of 10% across all US is set to implement duties this week. Trump says he will 'substantially' raise tariffs on India President Trump said on Monday he will "substantially" raise tariffs on India. Stocks still remained in rally mode following Friday's sell-off. "India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits," Trump wrote on Monday morning. "They don't care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA," he added. President Trump's sweeping tariffs are set to come into full effect later this week. Last Wednesday, Trump announced a 25% tariff on goods from India, plus an additional import tax because of the country's purchasing of Russian oil. President Trump said on Monday he will "substantially" raise tariffs on India. Stocks still remained in rally mode following Friday's sell-off. "India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits," Trump wrote on Monday morning. "They don't care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA," he added. President Trump's sweeping tariffs are set to come into full effect later this week. Last Wednesday, Trump announced a 25% tariff on goods from India, plus an additional import tax because of the country's purchasing of Russian oil. Tesla shares jump 3% as board approves $30 billion alternative pay deal for Musk Tesla's (TSLA) shares jumped 3% on Monday after the EV maker's board approved a $30 billion alternative compensation plan for its billionaire CEO, Elon Musk. As Yahoo Finance's Alexis Keenan reports: Read more here. Tesla's (TSLA) shares jumped 3% on Monday after the EV maker's board approved a $30 billion alternative compensation plan for its billionaire CEO, Elon Musk. As Yahoo Finance's Alexis Keenan reports: Read more here. Stocks open higher following market sell-off US stocks opened higher on Monday, rebounding from a sharp sell-off spurred by disappointing labor data and tariff uncertainty. The S&P 500 (^GSPC) climbed 0.6% on Monday, while the tech-heavy Nasdaq Composite (^IXIC) rose 0.9%. The Dow Jones Industrial Average (^DJI) moved up 0.5%. Markets are coming off a Friday sell-off sparked by tariffs on dozens of countries that start on Aug. 7 and monthly jobs revisions to the downside that implied a labor market slowdown is underway. US stocks opened higher on Monday, rebounding from a sharp sell-off spurred by disappointing labor data and tariff uncertainty. The S&P 500 (^GSPC) climbed 0.6% on Monday, while the tech-heavy Nasdaq Composite (^IXIC) rose 0.9%. The Dow Jones Industrial Average (^DJI) moved up 0.5%. Markets are coming off a Friday sell-off sparked by tariffs on dozens of countries that start on Aug. 7 and monthly jobs revisions to the downside that implied a labor market slowdown is underway. Trending tickers in premarket trading: Opendoor, Palantir, Tesla, Joby, Tyson Here's a look at what's trending in markets ahead of the opening bell: Opendoor (OPEN) stock popped 16% ahead of second quarter results on Monday morning. As my colleague Jake Conley has detailed, the stock has seen a resurgence in investor interest, powered by a bull case by EMJ Capital and speculative bets posted on Reddit forums. Palantir (PLTR) stock rose 2%. On Friday, the company announced it snagged a contract with the US Army that combines over 75 agreements into one package deal worth $10 billion over the next decade. The software and AI data company will report earnings after the bell on Monday. Tesla (TSLA) shares added more than 2% after the company approved a new pay package worth $29 billion for CEO Elon Musk amid an intense court battle in Delaware. The pay package is designed to boost Musk's voting power over time, which shareholders say is key to keeping him focused on the company and its mission, the special committee said in the filing. Joby (JOBY) shares climbed 5% premarket after the electric air taxi developer said it would acquire Blade Air Mobility's helicopter rideshare business for as much as $125 million. The deal would give Joby access to a network of air terminals in key areas like New York City. Blade Air (BLDE) stock rocketed nearly 30% higher on the news. Tyson Foods (TSN) stock increased 4% after the company reported fiscal third quarter results that beat expectations. The company raised its annual revenue forecast and said it expects resilient demand for chicken to offset weakness in the beef segment as high cattle prices weigh on profits. Check out more trending tickers here. Here's a look at what's trending in markets ahead of the opening bell: Opendoor (OPEN) stock popped 16% ahead of second quarter results on Monday morning. As my colleague Jake Conley has detailed, the stock has seen a resurgence in investor interest, powered by a bull case by EMJ Capital and speculative bets posted on Reddit forums. Palantir (PLTR) stock rose 2%. On Friday, the company announced it snagged a contract with the US Army that combines over 75 agreements into one package deal worth $10 billion over the next decade. The software and AI data company will report earnings after the bell on Monday. Tesla (TSLA) shares added more than 2% after the company approved a new pay package worth $29 billion for CEO Elon Musk amid an intense court battle in Delaware. The pay package is designed to boost Musk's voting power over time, which shareholders say is key to keeping him focused on the company and its mission, the special committee said in the filing. Joby (JOBY) shares climbed 5% premarket after the electric air taxi developer said it would acquire Blade Air Mobility's helicopter rideshare business for as much as $125 million. The deal would give Joby access to a network of air terminals in key areas like New York City. Blade Air (BLDE) stock rocketed nearly 30% higher on the news. Tyson Foods (TSN) stock increased 4% after the company reported fiscal third quarter results that beat expectations. The company raised its annual revenue forecast and said it expects resilient demand for chicken to offset weakness in the beef segment as high cattle prices weigh on profits. Check out more trending tickers here. Wayfair stock surges after online furniture retailer swings to a profit Wayfair (W) stock shot up 10% in premarket trading on Monday after the online furniture retailer reported its highest revenue growth and profitability since 2021. Wayfair posted diluted earnings of $0.11 per share, above estimates for a loss of $0.37 per share, according to S&P Global Market Intelligence. Revenue rose 5% to $3.27 billion, beating Wall Street's expectations of $3.12 billion. Net revenue in the US rose 5.3% to $2.9 billion in the quarter, while international net revenue increased 3.1% to $399 million. "We are optimistic that sales growth, along with management's commitment to controlling expenses/investments, may create a longer-term positive inflection in earnings revisions, on top of what we view as an attractive valuation," JPMorgan's Christopher Horvers wrote in a note ahead of earnings. "Further, over the next three to five years, [Wayfair] should outgrow the category given the longer-term shift toward online retailing and its advantaged assortment/ supply chain as the largest scaled online specialty player in the industry." Read more live coverage of corporate earnings here. Wayfair (W) stock shot up 10% in premarket trading on Monday after the online furniture retailer reported its highest revenue growth and profitability since 2021. Wayfair posted diluted earnings of $0.11 per share, above estimates for a loss of $0.37 per share, according to S&P Global Market Intelligence. Revenue rose 5% to $3.27 billion, beating Wall Street's expectations of $3.12 billion. Net revenue in the US rose 5.3% to $2.9 billion in the quarter, while international net revenue increased 3.1% to $399 million. "We are optimistic that sales growth, along with management's commitment to controlling expenses/investments, may create a longer-term positive inflection in earnings revisions, on top of what we view as an attractive valuation," JPMorgan's Christopher Horvers wrote in a note ahead of earnings. "Further, over the next three to five years, [Wayfair] should outgrow the category given the longer-term shift toward online retailing and its advantaged assortment/ supply chain as the largest scaled online specialty player in the industry." Read more live coverage of corporate earnings here. Good morning. Here's what's happening today. Economic data: Factory orders (June) Earnings: Hims & Hers (HIMS), Palantir (PLTR), Tyson (TSN), Wayfair (W) Here are some of the biggest stories you may have missed over the weekend and early this morning: Job market worries in focus as earnings season rolls on Tesla approves near-$30B stock award for Musk US says rare earth talks with China 'halfway there' Trump to name new Fed governor, jobs data head in coming days Boeing defense union strikes for first time since 1996 Morgan Stanley's Wilson: Buy stocks dip on earnings strength Citi's gold bears turn bullish on US growth, inflation concerns Joby to acquire Blade Air's passenger business for $125M Swiss stocks decline on US tariffs, push for lower drug prices Economic data: Factory orders (June) Earnings: Hims & Hers (HIMS), Palantir (PLTR), Tyson (TSN), Wayfair (W) Here are some of the biggest stories you may have missed over the weekend and early this morning: Job market worries in focus as earnings season rolls on Tesla approves near-$30B stock award for Musk US says rare earth talks with China 'halfway there' Trump to name new Fed governor, jobs data head in coming days Boeing defense union strikes for first time since 1996 Morgan Stanley's Wilson: Buy stocks dip on earnings strength Citi's gold bears turn bullish on US growth, inflation concerns Joby to acquire Blade Air's passenger business for $125M Swiss stocks decline on US tariffs, push for lower drug prices Oil slides as traders assess OPEC+ hike and Russian risks Oil eased on Monday as investors digested OPEC+'s latest supply increase, helping to counter a threat from Washington to move against Russian oil flows. Bloomberg News reports: Read more here. Oil eased on Monday as investors digested OPEC+'s latest supply increase, helping to counter a threat from Washington to move against Russian oil flows. Bloomberg News reports: Read more here. Morgan Stanley's Wilson: Buy stocks dip on earnings strength Morgan Stanley's strategist Michael Wilson said on Monday that investors should buy into bthe selloff in US stocks because of the robust earnings outlook for the coming year. Bloomberg reports: Read more here. Morgan Stanley's strategist Michael Wilson said on Monday that investors should buy into bthe selloff in US stocks because of the robust earnings outlook for the coming year. Bloomberg reports: Read more here. Citi's gold bears turn bullish on US growth, inflation concerns Citigroup Inc (C) have turned from bearish to bullish on its gold (GC=F) forecast, with analysts now predicting bullion will rally to a record high in the near term due to a worsening US economy and inflation-boosting tariffs. Bloomberg News reports: Read more here. Citigroup Inc (C) have turned from bearish to bullish on its gold (GC=F) forecast, with analysts now predicting bullion will rally to a record high in the near term due to a worsening US economy and inflation-boosting tariffs. Bloomberg News reports: Read more here. Goldman with a sobering view on the consumer Goldman Sachs out this morning with a subdued outlook on the US consumer following Friday's lackluster jobs report. Good read on the consumer from the WSJ today, mirrors what Procter & Gamble's (PG) CEO told me on earnings day. Goldman's chief economist Jan Hatzius: "We expect the weakness in consumer spending to continue in the second half of the year and forecast 0.8% real spending growth in 2025H2. Our view is underpinned by the expectation of a sharp slowdown in real income growth from its elevated pace in 2025H1. Income growth will be hit in Q3 by the phasing out of the one-off 2025H1 government transfer payments and in Q4 by the Medicaid and SNAP benefit cuts included in the new fiscal bill, which will take effect in 2025Q4 and affect lower-income households in particular. We also see higher tariff-driven inflation to impose a drag on real income growth in the second half of the year. Finally, we expect weak job growth due to lower immigration, cuts in government and healthcare hiring, and a tariff-related decline in activity. We expect declines in both business and residential investment in the second half of the year." Goldman Sachs out this morning with a subdued outlook on the US consumer following Friday's lackluster jobs report. Good read on the consumer from the WSJ today, mirrors what Procter & Gamble's (PG) CEO told me on earnings day. Goldman's chief economist Jan Hatzius: "We expect the weakness in consumer spending to continue in the second half of the year and forecast 0.8% real spending growth in 2025H2. Our view is underpinned by the expectation of a sharp slowdown in real income growth from its elevated pace in 2025H1. Income growth will be hit in Q3 by the phasing out of the one-off 2025H1 government transfer payments and in Q4 by the Medicaid and SNAP benefit cuts included in the new fiscal bill, which will take effect in 2025Q4 and affect lower-income households in particular. We also see higher tariff-driven inflation to impose a drag on real income growth in the second half of the year. Finally, we expect weak job growth due to lower immigration, cuts in government and healthcare hiring, and a tariff-related decline in activity. We expect declines in both business and residential investment in the second half of the year." Swiss stocks decline on US tariffs, push for lower drug prices Swiss stocks took a hit on Monday as the market reopened after a holiday. Worries about the impact from President Trump's 39% export tariffs and a push for drugmakers to lower prices have caused tension in the market. Bloomberg News reports: Read more here. Swiss stocks took a hit on Monday as the market reopened after a holiday. Worries about the impact from President Trump's 39% export tariffs and a push for drugmakers to lower prices have caused tension in the market. Bloomberg News reports: Read more here. Gold steady with weak job data bolstering the precious metal Gold (GC=F) held gains after a two month run of positivity as weak jobs data gave another reason to look towards haven assets. Bloomberg reports: Read more here. Gold (GC=F) held gains after a two month run of positivity as weak jobs data gave another reason to look towards haven assets. Bloomberg reports: Read more here.
