Economic Growth & Competitiveness - The White House action plan aims to provide "shock therapy" for American competitiveness in the industry [2] - The plan balances security objectives with the need to scale the industry and remain competitive through investment, infrastructure, and diplomacy [3] - Deregulation is a central pillar to unleash American builders and foster job creation by reducing time spent on legal fees and bureaucracy [5][6] - The plan emphasizes historic investments in critical infrastructure, especially the energy grid, to increase electricity supply which has stagnated since 2008 [4] Technology & Innovation - The administration prioritizes AI opportunity, contrasting with an overemphasis on safety stemming from concerns about negative impacts on labor markets [10] - Exporting the American technology stack is important to expand market share, lock out competitors, and establish America as the platform on which the rest of the world builds [7][8][9] - The goal is to have a broad and diverse user base to develop the most advanced algorithms [8] Labor Market & Productivity - The administration believes that increased labor productivity through technological breakthroughs like AI will lead to increased demand for labor and job creation, referencing Jevons Paradox [10][11]

Let's start with the Trump action plan. What is this action plan which has been released this morning. Well, it's 23 pages of policy framework, essentially, that is positioned to help what the administration would put it as America winning in Haiti.There's a heavy emphasis on the infrastructure requirements needed, particularly around energy and the energy needed for data center build out. But it goes a little bit further than that in talking about deregulation, essentially cutting red tape on the infrastru ...

International Investment Opportunities - International and emerging markets are early in a new cycle, supported by strong fundamentals [3] - Deregulation trends in Europe and parts of Asia are creating powerful investment dynamics [3] - Deficit spending in Europe and Asia, including China, is evolving, signaling potential shifts [5] - Global companies offer world-class investment opportunities, especially as US exceptionalism may have peaked [7][8] - Trends like AI, infrastructure, hyperscalers, and semiconductors are globally present, not exclusive to the US [9] Market Underperformance & Reversion - Long-term underperformance of MSCI World against the US suggests a potential mean reversion [2] - International markets have underperformed for years, indicating a possible shift in investment focus [5] Specific Regional & Sector Highlights - Germany's fiscal policy shift towards rearmament and infrastructure development presents opportunities [4] - European banks are becoming increasingly attractive investment options compared to US banks due to deregulation [10]

Core Viewpoint - Red Light Holland is implementing a Bitcoin Balance Sheet Strategy, led by Scott Melker, to enhance financial resilience and align with the decentralized ethos of both the psilocybin and cryptocurrency communities [1][2][5]. Group 1: Bitcoin Balance Sheet Strategy - The company is allocating up to C$2 million to Bitcoin and related assets, reflecting its commitment to decentralized systems and personal sovereignty [2][5]. - Key elements of the strategy include strategic investments of up to C$250,000 per tranche, with an initial investment of C$210,000 in a Bitcoin ETF on June 23, 2025, which has already shown significant returns [3][5]. - This strategy positions Red Light Holland alongside Bitcoin-native companies like MicroStrategy and Tesla, emphasizing a commitment to a decentralized future [9]. Group 2: Leadership and Expertise - Scott Melker has been appointed as Senior Advisor and will lead the Bitcoin investment strategy, leveraging his market expertise to enhance the company's credibility in the crypto space [4][10]. - The company aims to unite the progressive communities of psilocybin and cryptocurrency, promoting freedom, resilience, and innovation [8]. Group 3: Company Background - Red Light Holland is engaged in the production and sale of functional mushrooms and psilocybin truffles in the Netherlands, focusing on wellness and financial empowerment [11].

My next guest is expecting all of this bullish momentum to continue. He says investors should look past any soft patches and focus on what's warning. Jim Karen working.Jim Karen is CIO of Cross Asset Solutions at Morgan Stanley Investment Manager. I'm not saying you're recommending Bitcoin. Maybe you are.I don't know. I'm not and it's not part of it. Uh Palunteer.No. Um what is driving this momentum. Is it you know I the little fear and greed index is back to I think greed or extreme greed levels.Um but wha ...

All right, let's get more in the banks with Chris McGrady, head of US Bank research at KBW, a steel company. The firm announcing just in the last hour that he is taking over coverage of large cap banks, upgrading several names, including Morgan Stanley and JP Morgan. Chris, great to have you with us. Melissa, good to see you.Um, let's start off with with the uh the upgrades or the move highers in in the ratings with your your initiation of coverage. JP Morgan for instance we're talking about in terms of the ...

Welcome back to Squawk on the Street. Well, America's biggest banks are on a winning streak. Wells, Goldman, Morman Stanley, and more are just inches from hitting their new all-time highs after passing the Fed's latest stress tests late last week and boosting shareholder payouts yesterday after uh the close.Those are the how far they are from all-time highs as we stand, but they're having a decent couple of trading sessions. So what's uh on the deck for banks in the second half of the year. UBS managing dir ...

Market Overview & Investment Strategy - The S&P 500 closed at a record high to finish the first half, with the Arc Innovation ETF up nearly 24% year to date, indicating a potential bull market [1] - The market has been "climbing a wall of worry," suggesting a durable bull market that persists despite controversies like tariffs and Fed-President tensions [2][3] - Interest rates are likely to decrease, and the market is broadening out beyond just a few concentrated stocks, signaling a healthier bull market [3][4] - Productivity is expected to increase, driving inflation down lower than anticipated during the early stages of recovery [8] Economic Factors & Policy Impact - Deregulation is considered a significant factor in unleashing economic activity [5] - The economy has experienced a "rolling recession," with housing and manufacturing sectors yet to fully recover [6] - Recovery is anticipated with decreasing interest rates, deregulation, and potential tax cuts, including immediate expensing of capital goods [7] Tesla & Elon Musk - Elon Musk is refocusing on transforming transportation, space exploration, addressing health issues with Neuralink, and introducing humanoid robots [11][12] - SpaceX has $22 billion in government contracts, solidifying the US lead in space exploration [13] - Autonomous travel regulations are expected to move to the federal level to maintain US leadership in the field [15] Healthcare Innovation - Significant deregulation is occurring within healthcare, with a focus on curing diseases and eliminating chronic conditions [15] - Neuralink's progress is considered miraculous, contributing to advancements in healthcare [15]

All right, one big beautiful bill making its way. We're going to continue to see uh it go to the floor today with a reading. What's your perspective what it means for equities and also for the bond market.Um do you expect the bond vigilantes to react to some of the deficit increasing measures here. I don't Frank. I think we're well past that.I mean everybody's been looking for a reason to uh to get nervous and every time they do they they regret it a week or a day or a month later. So I think we're in a ver ...

Group 1 - Sinclair, Inc. (NASDAQ: SBGI) has reported a new agreement with YouTube, indicating positive expectations for upcoming reforms [1] - The company has made recent acquisitions in the last quarter and may announce new acquisitions soon [1] - The analysis focuses on cash flow statements and unlevered free cash flow figures, with assumptions based on previous financial data and forecasts for the business model [1] Group 2 - The financial models may include various financial metrics such as cost of capital, cost of debt, WACC, share count, and net debt [1] - The analysis typically does not cover growth stocks, instead focusing on companies with a long history of financial reporting [1] - Trading multiples studied include EV/FCF, net income, and EV/EBITDA [1]