Investors Come Around to Trump's Uncertainty
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Axios
28 minutes ago
- Axios
Bessent casts some shade over Musk's new political party
Treasury Secretary Scott Bessent said Sunday he imagined that Elon Musk 's businesses' boards weren't so keen on the Tesla CEO's unveiling of his new "America Party." The big picture: The world's richest man — who before his explosive fallout with President Trump said he'd do a lot less political spending moving forward — became a GOP mega-donor last year. Now, the billionaire seems intent on carving a new political path. Irate over Trump's recently signed"big, beautiful bill," the former DOGE leader is turning his sights away from what he described as "the two-party (some would say uniparty) system" and plans to form his own party. Driving the news: Bessent, with whom Musk once had a heated spat in the White House, said on CNN's "State of the Union" Sunday that "the principles of DOGE were very popular" — but Musk was not. Musk's massive slashes through the federal government left a bruise on his reputation and his company. A March NBC News poll found that 46% of voters thought creating DOGE was a good idea, while 40% said it was bad — but when asked to broadly rate their feelings on DOGE, 47% had a negative view, compared to 41% who held a positive view. And 51% had a negative view of Musk himself. What he's saying:"I believe that the boards of directors at his various companies wanted him to come back and run those companies, which he is better at than anyone," Bessent told CNN's Dana Bash. He continued, "I imagine that those boards of directors did not like this announcement yesterday, and will be encouraging him to focus on his business activities, not his political activities." Catch up quick: Musk announced on Saturday that he would launch "the America Party," which he claimed would "give you back your freedom." Musk said in a response that the party would caucus independently and that "legislative discussions would be had with both parties." Yes, but: There are steps Musk must take to formally register a political party, and recent Federal Election Commission filings don't show that has yet happened. What we're watching: The day prior, he shared a poll to his followers asking whether he should create a new political party and suggested part of his strategy would be to "laser-focus on just 2 or 3 Senate seats and 8 to 10 House districts." Musk didn't specify what those specific races would be. He added, "Given the razor-thin legislative margins, that would be enough to serve as the deciding vote on contentious laws, ensuring that they serve the true will of the people." Billionaire Mark Cuban and Anthony Scaramucci, who briefly worked in for Trump during his first term, both appeared interested.
Yahoo
32 minutes ago
- Yahoo
Tariff Dealine, Fed Minutes and Other Key Thing to Watch this Week
Markets enter the second week of July with the S&P 500 ($SPX) (SPY) digesting the implications of President Trump's landmark tax-and-spending package signed into law Friday afternoon, while investors brace for a pivotal week featuring the start of earnings season and crucial policy developments. The market faces a complex landscape as Trump's promised July 9 tariff letters loom, marking the end of his 90-day "Liberation Day" tariff pause with dozens of nations set to learn about additional unilateral trade restrictions. Tesla (TSLA) stock continues to struggle despite better-than-feared Q2 deliveries, trading between its 200-day and 50-day moving averages while facing headwinds from the elimination of U.S. EV credits after September 30 and highly profitable zero emission credits under the new legislation. Meanwhile, Taiwan Semiconductor's (TSM) upcoming June and Q2 sales figures will provide crucial insights into AI chip demand affecting major customers including Nvidia (NVDA), Broadcom (AVGO), and Apple (AAPL). Here are 5 things to watch this week in the Market. As Amazon Doubles Down on Robotaxis, Is AMZN Stock a Buy? Why Citi Thinks Micron Stock Is Headed to $150 After Earnings Beat OpenAI's Partnership With Microsoft is Good, Says CEO Sam Altman; There's 'Tension,' But Already Planning 'Next Decade Together' Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! Tariff Deadline Drama Wednesday's July 9 deadline represents a critical inflection point for global trade policy as President Trump is set to send dozens of letters to foreign nations outlining additional tariffs he plans to impose unilaterally on their goods. This marks the end of the 90-day pause on Trump's "Liberation Day" tariffs, creating potential for significant market volatility as investors assess the scope and severity of new trade restrictions. The timing coincides with Wednesday's FOMC meeting minutes release, creating a potentially explosive combination of trade and monetary policy developments. Import-heavy sectors including retail, technology, and consumer goods could see heightened volatility, while companies with significant international exposure may face renewed uncertainty about supply chain costs and global operations. The market's reaction to these tariff announcements will likely depend on their scope, implementation timeline, and affected trading partners, with particular attention on whether major economies like the EU, Japan, or Mexico face new restrictions. Fed Minutes and Bond Auction Bonanza Wednesday brings a double-header of fixed income focus with the FOMC meeting minutes at 2pm followed by Thursday's 30-year bond auction at 1pm, bookended by Wednesday's 10-year note auction at 1pm. The Fed minutes will provide crucial insights into policymakers' thinking about the current interest rate environment, particularly given recent mixed economic signals and ongoing inflation concerns. Market participants will scrutinize the minutes for any hints about future policy direction, especially regarding the Fed's assessment of labor market strength and price pressures. The bond auctions will test investor appetite for long-term U.S. debt amid the new tax-and-spending legislation and ongoing fiscal concerns. Poor auction results could signal rising borrowing costs and impact rate-sensitive sectors, while strong demand might indicate continued safe-haven flows. The convergence of monetary policy insights and debt market dynamics creates potential for significant moves in treasury yields, impacting everything from mortgage rates to corporate borrowing costs. Earnings Season Kickoff Thursday marks the unofficial start of earnings season with Delta Air Lines (DAL) and Conagra Brands (CAG) reporting results, providing early insights into both travel demand and consumer spending patterns. Delta's results will be closely watched for commentary on domestic and international travel trends, fuel cost impacts, and capacity management amid economic uncertainty. The airline sector has been sensitive to both economic conditions and geopolitical developments, making Delta's guidance particularly important for assessing consumer discretionary spending. Conagra's results will offer perspective on food inflation, consumer behavior changes, and the packaged foods industry's ability to maintain pricing power amid cost pressures. Management commentary from both companies about the remainder of 2025 could set the tone for earnings season expectations, particularly regarding consumer resilience and corporate margin pressure. Taiwan Semi's AI Chip Pulse Check Taiwan Semiconductor Manufacturing's (TSM) June and Q2 sales figures will provide a critical read on AI chip demand, directly impacting major customers including Nvidia (NVDA), Broadcom (AVGO), and Apple (AAPL). As the world's largest contract chip manufacturer, TSM's results serve as a bellwether for global semiconductor demand and the health of the AI infrastructure buildout. Strong numbers could reinforce the AI investment thesis and boost the entire semiconductor ecosystem, while disappointing results might raise questions about demand sustainability and inventory levels. The timing is particularly significant given recent volatility in AI-related stocks and ongoing debates about the pace of AI adoption across industries. TSM's commentary about capacity utilization, customer demand patterns, and future capital expenditure plans will be scrutinized for insights into the semiconductor cycle's trajectory. Tesla's Autonomous Ambitions Under Pressure Tesla's (TSLA) stock continues to face headwinds despite better-than-feared Q2 deliveries, with shares down 2.1% since the limited robotaxi launch in Austin on June 22. The company confronts multiple challenges including a leadership shake-up in the Optimus robot division, reported production delays, and CEO Elon Musk's renewed feud with President Trump over the budget bill. The elimination of U.S. EV credits after September 30 and highly profitable zero emission credits under the new legislation creates additional pressure on Tesla's business model. Meanwhile, competitors are gaining ground with Uber (UBER) stock rallying, while Mobileye (MBLY) has surged 30% as investors rotate toward alternative autonomous vehicle plays. Tesla's ability to demonstrate progress on autonomous driving technology and navigate the changing regulatory landscape will be crucial for maintaining its premium valuation in an increasingly competitive market. Best of luck this week and don't forget to check out my daily options article. On the date of publication, Gavin McMaster did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
TechCrunch
37 minutes ago
- TechCrunch
At least 36 new tech unicorns were minted in 2025 so far
With AI igniting an investor frenzy, every month, more startups obtain unicorn status. Using data from Crunchbase and PitchBook, TechCrunch tracked down the VC-backed startups that became unicorns so far this year. While most are AI-related, a surprising number are focused in other industries like satellite space companies like Loft Orbital and blockchain-based trading site Kalshi. This list will be updated throughout the year, so check back and see the latest powerhouse startups who are now worth over $1 billion. June Linear — $1.25 billion: This software development product management tool last raised an $82 million Series C, valuing the company at $1.25 billion, according to Pitchbook. The company, founded in 2019, has raised more than $130 million in funding to date from investors including Accel and Sequoia Capital. Gecko — $1.62 billion: This company makes data-gathering robotics that climb, crawl, swim, and fly. Founded in 2013, the company last raised a $121 million Series D, valuing the company at $1.6 billion, according to Pitchbook. The company has raised more than $340 million in funding to date from investors including Cox Enterprises and Drive Capital. Meter — $1.38 billion: This company, which offers managed Internet infrastructure service to enterprises, last raised a $170 million Series C, valuing the company at $1.38 billion, according to Pitchbook. The company, founded in 2015, has raised more than $250 in funding to date, from investors including General Catalyst, Sequoia Capital, Sam Atlaman, and Lachy Groom. Teamworks — This sports software company last raised a $247 million Series F, valuing the company at $1.25 billion, according to Pitchbook. The company, founded in 2006, has raised more than $400 million in funding to date from investors including Seaport Capital and General Catalyst. Techcrunch event Save $450 on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Save $450 on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Boston, MA | REGISTER NOW Thinking Machines — This AI research company, founded just last year by OpenAI alumn Mira Murati, raised a $2 billion seed round, valuing the company at $10 billion, according to Pitchbook. The company's investors include a16z and Nvidia. Kalshi — $2 billion: The popular prediction markets company, founded in 2018, last raised an $185 million Series C, valuing the company at $2 billion, according to Pitchbook. The company has raised more than $290 million in funding to date, from investors including Sequoia and Global Founders Capital. Decagon — This customer service AI agent company, founded in 2023, last raised a $131 million Series C, valuing the company at $1.5 billion, according to Pitchbook. The company has raised more than $231 million in funding to date, from investors including a16z and Accel. May Pathos — $1.6 billion: This drug development company, founded in 2020, last raised a $365 million Series D, valuing the company at $1.6 billion, according to Pitchbook. The company has raised more than $460 million to date from investors, including General Catalyst and Altimeter Capital Management. Statsig — $1.1 billion: This product development platform, founded in 2021, last raised an $100 million Series C, valuing the company at $1.1 billion, according to Pitchbook. The company has raised around $153 million to date, from investors including Sequoia, Mardona, and ICONIQ Growth. SpreeAI — $1.5 billion: This shopping tech company last raised an undisclosed round, according to Pitchbook, that valued the company at $1.5 billion. The company, founded in 2020, has raised more than $20 million to date from investors including The Davidson Group. Function — $2.5 billion: This health tech company, founded in 2020, last raised a $200 million round, according to Pitchbook, valuing the company at $2.5 billion. The company has raised more than $250 million in funding to date, from investors including a16z. Owner — $1 billion: This restaurant marketing software company, founded in 2018, last raised a $120 million Series C, valuing the company at $1 billion, per Pitchbook. The company has raised more than $180 million in funding to date, from investors including Headline, Redpoint Ventures, SaaStr Fund, and Meritech Capital. Awardco — $1 billion: This employee engagement platform last raised a $165 million Series B, valuing the company at $1 billion, per Pitchbook. The company, founded in 2012, has raised more than $230 million in funding to date, from investors including General Catalyst. April Nourish — $1 billion: This dietitian tele-health company last raised a $70 million Series B, according to Pitchbook, valuing the company at $1 billion. The company, founded in 2020, has raised more than $100 million in funding to date from investors including Index Ventures and Thrive Capital. Chapter — $1.38 billion: This Medicare guide health tech company, founded in 2013, last raised a $75 million Series D, valuing it at $1.38 billion, according to Pitchbook. The company has raised $186 million in funding to date, with investors including XYZ Venture Capital and Narya. Threatlocker — $1.2 billion: This Orlando-based data protection company last raised a $60 million Series E, valuing the company at $1.2 billion, according to Pitchbook. The company, founded in 2017, has raised more than $200 million in funding to date, from investors including General Atlantic and StepStone Group. Cyberhaven — $1 billion: This data detection company last raised a $100 million Series D in April, according to Pitchbook, valuing the company at $1 billion. The company, launched in 2015, has raised more than $200 million in funding to date, with investors including Khlosa Ventrues and Redpoint Ventures. March Fleetio — $1.5 billion: This Alabama-based startup creates software to help make fleet operations easier. It last raised a $454 million Series D at a $1.5 billion valuation, according to PitchBook. It was launched in 2012 and has raised $624 million in funding to date, with investors including Elephant and Growth Equity at Goldman Sachs Alternatives. The Bot Company — $2 billion: This robotics platform last raised a $150 million early-stage round, valuing it at $2 billion, according to PitchBook. The company, which was founded in 2024, has raised $300 million to date in funding. Celestial AI — $2.5 billion: The AI company raised a $250 million Series C led by Fidelity that valued the company at $2.5 billion, per Crunchbase. The company, based in California, was launched in 2020 and counts BlackRock and Engine Ventures as investors. It has raised more than $580 million in capital to date, per PitchBook. Underdog Fantasy — $1.3 billion: The sports gaming company last raised a $70 million Series C valuing the company at $1.3 billion, according to Crunchbase. The company, founded in 2020, has raised more than $100 million in capital to date, per PitchBook. Investors include Spark Capital. Build Ops — $1 billion: This software company last raised a $122.6 million Series C, valuing it at $1 billion. Build Ops, which was launched in 2018, has raised $273 million in total, according to PitchBook, with investors including Founders Fund and Fika Ventures. Insilico Medicine — $1 billion: The drug research company raised a $110 million Series E valuing the company at $1 billion, per Crunchbase. It launched in 2014, has raised more than $500 million to date in capital, and counts Lilly Ventures and Value Partners Group as investors. Olipop — $2 billion: This popular probiotic soda company last raised a $137.9 million Series C at a $1.96 billion valuation. It was founded in 2018 and has raised $243 million to date with investors including Scoop Ventures and J.P. Morgan Growth Equity Partners. Peregrine — $2.5 billion: This data analysis and integration platform, launched in 2017, last raised a $190 million Series C with a valuation of $2.5 billion. It has raised more than $250 million in funding to date, according to PitchBook, with investors including Sequoia and Fifth Down Capital. Assured — $1 billion: The AI company helps process claims and last raised a $23 million Series B, valuing the company at $1 billion. It was launched in 2019 and has raised a little more than $26 million to date, with investors including ICONIQ Capital and Kleiner Perkins. February Abridge — $2.8 billion: This medtech company, founded in 2018, last raised a $250 million Series D at a $2.75 billion valuation, per PitchBook. The company has raised more than $460 million to date in funding and counts Elad Gil and IVP as investors. OpenEvidence — $1 billion: This medtech company, founded in 2017, last raised a $75 million Series A at a $1 billion valuation, per PitchBook. The company has raised $135 million to date in funding and counts Sequoia Capital as an investor. Hightouch — $1.2 billion: The data platform, founded in 2018, last raised an $80 million Series C at a $1.2 billion valuation, per PitchBook. The company has raised $171 million to date in funding and counts Sapphire Ventures and Bain Capital Ventures as investors. January Kikoff — $1 billion: This personal finance platform last raised an undisclosed amount that valued it at $1 billion, according to PitchBook. The company, founded in 2019, has raised $42.5 million to date and counts Female Founders Fund, Lightspeed Venture Partners, and basketballer Steph Curry as investors. Netradyne — $1.35 billion: Founded in 2015, this computer vision startup raised a $90 million Series D valuing it at $1.35 billion, according to Crunchbase. The round was led by Point72 Ventures. Hippocratic AI — $1.6 billion: This startup, founded in 2023, creates healthcare models. It raised a $141 million Series B, valuing it at $1.64 billion, according to Crunchbase. The round was led by Kleiner Perkins. Truveta — $1 billion: This genetic research company raised a $320 million round valuing it at $1 billion, according to Crunchbase. Founded in 2020, its investors include the CVCs from Microsoft and Regeneron Pharmaceuticals. Clay — $1.25 billion: Founded in 2017, Clay is an AI sales platform. The company raised a $40 million Series B, valuing it at $1.25 billion, according to PitchBook. It has raised more than $100 million to date and counts Sequoia, First Round, Boldstar, and Box Group as investors. Mercor — $2 billion: This contract recruiting startup raised a $100 million Series B valuing it at $2 billion. The company, founded in 2022, counts Felicis, Menlo Ventures, Jack Dorsey, Peter Thiel, and Anthology Fund as investors. Loft Orbital — $1 billion: Founded in 2017, the satellite company raised a $170 million Series C valuing the company at $1 billion, according to Crunchbase. Investors in the round included Temasek and Tikehau Capital. This post was updated to reflect what Peregine does.
