US-Brazil Trade Relations - Tariffs are viewed as a potentially unsuccessful one-size-fits-all foreign policy tool in the context of the Brazil coffee trade [1] - The US imports approximately 31% of its coffee from Brazil, highlighting the importance of this trade relationship [1] - Despite adversarial headlines, Brazilian markets and the Real have not significantly declined, suggesting resilience [2] - Historically, the US and Brazil have had a solid trading partnership with alignment in geopolitics and foreign policy goals [2] Emerging Markets and Currency Dynamics - Emerging markets, including Brazil, have experienced a renaissance in the last 6 months [2] - Currency movements account for approximately 50% of the success in emerging market investments [3] - The Brazilian Real has rallied, reaching six-week highs against the US dollar [3] - A weaker US dollar is seen as potentially beneficial for the US [4] Brazil Investment Thesis - Fiscal adjustments in Brazil are considered bullish for investment [4] - Investment in Brazil involves a combination of commodities and the middle class [4] - Major commodity players in Brazil, such as Petrobras and Vale, have improved their debt profiles over the last 5 years [4] - Emerging markets have generally rallied since Trump took office, despite the "America First" policy, indicating solid fundamentals [5]

a first on CNBC interview is Elanco CEO Jeff Simmons. Jeff, I just want to talk about this because I have a personal interest as an owner of two dogs. And I want to say now, six fish.At this point, we have animals throughout our house. Our kids love them. What exactly is driving the demand for animal health products.To the point that we've seen your stock jump the way that it did. >> Tom, great to be with you this morning. And it's exactly that.And that is that the personalization of that pet in the home, t ...

Joining me now with his take is Bill Simon, the former Walmart U.S. CEO. Bill, it's great to have you with us. Can you help us make sense of whether or not from an overarching standpoint, the U.S. Consumer is in a good spot, given what we've seen with the inflationary picture that really, really came to a head over the course of the last, say, 3 or 4 years.>> Yeah. Good morning. It's really interesting time.The consumer's never been more in control than they are right now. They did suffer through really bru ...

Joining me now is Sarah Coontz, managing director at Clio Capital. Let's take us through. We heard Jim Cramer's comments earlier on the show.He made those comments last night that Apple is not a stock you trade, you just own it. You buy it, even just buy an index fund. How is Apple going to fare now that we know President Trump and Tim Cook are seemingly on better ground again.>> I think that that is important. I think that a lot of what we saw was an answer to the question of, Will Tim Go and bend the knee ...

Apple CEO Tim Cook and Nvidia uh Nvidia CEO Jensen Wong. If you say Nvidia and CEO, you almost say Nvidia, you know, Nvidia. Nvidia, uh visiting the White House this week.Meanwhile, President Trump is publicly calling on Intel CEO to resign. Joining us now, Galam Makanda, lecture uh at Yale School of Management. I mean it's never a dull moment at least um professor and and for being in this business just watching what happens in in the current administration is fascinating but I just made the current point ...

Israel saying it's now planning to take over Gaza City in the northern part of the Gaza Strip. That decision made after a late night meeting of top officials and coming despite growing fears of famine in Gaza and mounting international calls for Israel and Hamas to end their nearly 2-year-old war. Yesterday on Fox News, Israel's Prime Minister Benjamin Netanyahu outlining a more sweeping plan for a total takeover of Gaza, at least on a temporary basis.But it appears Israel's decision will stop short of that ...

Five things to know ahead of today's opening bell and they are all earnings movers. Let's go through the list. Shares of Expedia, their soaring earnings and revenue, gross booking estimates beating estimates and the company raising its fullear guidance results boosted by its businessto business and advertising segments.Meanwhile, shares of Pinterest sharply lower, earnings missing estimates, but revenue and guidance topping expectations. The company's CFL telling analysts there is still some lingering conce ...

IPO Market Dynamics - Investor appetite for IPOs is picking up, with companies like Figma, Circle, Chime, and Firefly Aerospace experiencing significant gains on their first trading days [1] - The IPO market is experiencing pent-up demand and asymmetric speculation, with abundant capital seeking high-return, low-risk opportunities [2] - Speculative excess is evident in the market, potentially indicating a frothy environment with red flags [3][4] - Post-IPO volatility can reach 100% to 250%, attracting traders seeking to double their investment [5] IPO Pricing and Insider Advantage - Most individuals cannot participate in IPOs directly, focusing on post-IPO trading, particularly in options markets [6] - Underwriters may intentionally underprice IPOs, benefiting investment banks and insiders who hold restricted stock with a typical 6-month lockup period [8] - Underpricing IPOs creates positive PR and allows insiders to benefit from an initial price surge [9] - A small percentage of outstanding shares traded at a high price can significantly inflate the company's market capitalization [10] Retail Investor Access to Private Markets - There's a push to allow retail investors access to private equity, venture capital, and private credit through 401(k)s, traditionally limited to accredited investors [12] - Advocates argue for self-directed investment choices in 401(k)s, allowing individuals to invest in a wider range of assets [13][14] - Opening private markets to retail investors democratizes the process but also introduces new levels of risk due to less stringent disclosure rules compared to public companies [15] - Opening up private markets is expected to increase market efficiency and foster industry growth, despite potential risks [16][17] Private Equity Investment - The argument that private equity outperforms public markets long-term is primarily due to the lack of day-to-day liquidity, rather than inherent differences in the underlying business [19] - The extended duration of private equity funds (e.g., 7 years) reduces the observed volatility in their P&L, potentially masking the true risk [21]

Company Strategy & Technology - Tesla reportedly shut down its Dojo supercomputer project aimed at developing driverless vehicle technology [1] - The head of Tesla's Dojo project has reportedly left the company [1] - Tesla will reportedly source more computing power from Nvidia and AMD [1] - Tesla will reportedly source more chips from Samsung [1] Earnings & Market Overview - The report will cover earnings results from Pinterest, Expedia, and Instacart, among others [2] - The report will provide a look at yesterday's S&P 500 winners and losers [2]

Financial Performance & Challenges - ELF Beauty's stock experienced a nearly 10% decrease despite delivering a top and bottom-line beat [1][2] - Management declined to issue a full-year forecast due to tariff uncertainties, suggesting potential margin pressure [2] - The company has increased prices by approximately $1 due to tariffs and other cost pressures [5] Market Share & Growth Strategy - ELF Beauty achieved its 26th consecutive quarter of net sales and market share gains in the US cosmetics market [4] - The company is focused on growing market share and pursuing white space opportunities [5] - ELF Beauty is the number one brand amongst Gen Z and is gaining consumers across all age brackets [18] Expansion & Partnerships - Road is joining the ELF Beauty family and will be available in all US and Canadian Sephora stores in September, followed by the UK later this year [8] - ELF Beauty is expanding its partnership with Sephora by introducing ELF in six Gulf cooperation countries and launching a brand experience in Sephora Australia [9] - ELF Beauty is launching in Dollar General, serving an underserved market, with 60% of ELF purchasers being new to cosmetics purchases at Dollar General and 53% being new to ELF [12] Supply Chain & Cost Management - ELF Beauty has been optimizing its supply chain, reducing its production in China from 100% to approximately 75% [15] - The diversification of the supply chain is driven by strong global demand rather than solely by tariffs [15] Competitive Advantage - ELF Beauty aims to make the best of beauty accessible for every eye, lip, and face [17] - ELF Beauty offers superior value, with 75% of its portfolio priced at $10 or less even after the price increase [6][7] - ELF Beauty's vitamin E, C, and ferulic serum is priced at $16, significantly lower than a comparable prestige item at $185 [19]