Markets
Musk Twitter Fight Trump Oval Office
(Michael Kappeler/Getty Images)

Trump trades tank across the board as bust-up with Musk unravels into public brawl

Investments premised, in part, on ties to Trump 2.0 suddenly look riskier.

Matt Phillips

Trump trades stumbled hard amid a bizarre, live-on-TV spat between President Trump and erstwhile political ally Elon Musk.

It was perhaps the clearest demonstration that some of those investing in the so-called Trump trades — shares of companies with ideological, financial, or professional ties to the reality-TV-star-turned-president that have seen their shares surge since his 2024 election victory — were, in part, making a bet that these companies will remain in Trump’s good graces long enough to monetize some of that political juice.

That bet suddenly looks a lot more precarious after the bizarre White House press conference, where the president and the world’s richest man swapped insults and castigations using their mediums of choice — Trump, a bank of television cameras, and the Tesla CEO, through X, the social media site he purchased in 2022.

As silly as the specter was, it’s worth noting that there are real business implications at stake. Trump alleged that Musk’s recent campaign to kill a tax-cutting bill making its way through Congress came because it included provisions doing away with key tax incentives for electric vehicles that have been crucial to Tesla.

That means, to the extent that traders have been betting that the Trump administration would bend key government policies to shield and/or reward close political and financial allies like Musk — a pretty fair definition of corruption, by the way — were wrong, at least in this instance.

That reality seems to be prompting a bit of reconsideration for those who have been riding Trump-related trades. Shares of Palantir, Trump Media & Technology Group, GEO Group, as well as Bitcoin all slumped somewhat in the aftermath of the Musk spat, which the president has apparently now taken to Truth Social.

More Markets

See all Markets
Luke Kawa
7/13/26
Meet the newly public, Bezos-backed company that’s recreating the sun and stars

General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

Web Summit Vancouver 2026 - Day Three
markets
J. Edward Moreno

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

Luke Kawa
7/2/26
US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

Floridians Seek Employment Opportunities At Job Fair In Sunrise
Luke Kawa
7/1/26
Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings
markets
Paige Oamek

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

Latest Stories

Sherwood Media, LLC and Chartr Limited produce fresh and unique perspectives on topical financial news and are fully owned subsidiaries of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Money, LLC, Robinhood U.K. Ltd, Robinhood Derivatives, LLC, Robinhood Gold, LLC, Robinhood Asset Management, LLC, Robinhood Credit, Inc., Robinhood Ventures DE, LLC and, where applicable, its managed investment vehicles.
©2026 Sherwood Media, LLC