- __[Opioid](https://snacks.robinhood.com/newsletters/5OD5B5k4CydszpWz82qWgJ/articles/7uyEo6C4FjBAg2vmyeYYRg/):__ Four major drug companies that have been blamed for fueling the opioid epidemic reached a historic $26B settlement with states. 
- __[mRN-ASAP](https://snacks.robinhood.com/newsletters/4zwrsNXSMlxPs7uiI0Se1p/articles/62aBHtkrzcW18eweMOYIcH/):__ Vax-maker __[Moderna](https://robinhood.com/stocks/MRNA)__ joined the prestigious S&P 500 index, but its *real* power lies in its mRNA platform. 
- __[Juicy](https://snacks.robinhood.com/newsletters/5ei5KZ0s1RNU72D3ZPf13v/articles/4sqtsZFggOihAmXIArgMA9/):__ __[Tesla](https://robinhood.com/stocks/TSLA)__ is opening up its exclusive Supercharger networks to other EV brands — Elon just made "the pizza decision."

ICYMI

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Personal Finance

__Drama in the feed...__ This month, President Biden said social platforms like __[Meta](https://robinhood.com/stocks/META)__ are "killing people" with Covid misinformation. Facebook's response: a blog [post](https://about.fb.com/news/2021/07/support-for-covid-19-vaccines-is-high-on-facebook-and-growing/) called "Moving Past Finger Pointing." In short, Facebook says it's not its fault that Biden failed to get 70% of American adults vaccinated by July 4th. Biden walked back his comments, but said social platforms should do more to tackle misinfo. As the Delta variant spreads, Covid cases have been surging among the unvaccinated. 

- __Biden believes__ anti-vax content is a key reason some remain unvaxed. A recent study found that 95% of Covid misinfo reported across social platforms wasn't removed. 
- __Facebook says__ it has removed 18M instances of Covid misinfo, and that 85% of its US users have been, or want to be, vaccinated.

__Déjà vu vibes...__ This public spat is part of a much broader issue of content moderation on Facebook, spanning from election interference, to hate speech, to the Capitol riots. Last year, 1K+ advertisers, including big shots like Verizon, [paused](https://snacks.robinhood.com/newsletters/53ExK4qFnO6TgaRpz8Ssnl/articles/6BImPvOi9lK0nl5oMKNwcO/) spending on FB ads to protest its moderation policies. That didn't make a dent in FB's sales. Despite the criticism, FB's biz is thriving, and its stock is at a record high: 

- __For the quarter ended in March,__ FB's ad sales soared 48% from last year to $25B, and profit nearly *doubled* to $9.5B. 
- __When FB reports this Wednesday,__ analysts [expect](https://www.forbes.com/sites/jjkinahan/2021/07/23/facebook-q2-earnings-can-fb-retain-ad-revenue-growth-amid-competition-and-pressure-from-apple/) $28B in quarterly sales, or 60% growth from last year — even faster than the previous quarter.


_How tech giants drop earnings [Donald Iain Smith/Photodisc via GettyImages]_

Zucked

__FB's biggest threats are *external*...__ For now, Facebook's 3.5B monthly users across FB, Insta, and WhatsApp mean advertisers are hooked. Misinformation doesn't seem to be hurting its biz — but intensifying antitrust scrutiny and competition from Gen Z-loved apps *could*. Last year, FB [lost](https://www.fastcompany.com/90598536/facebooks-daily-active-users-decline-for-a-second-quarter-in-the-united-states-and-canada) users in North America as __TikTok__ blew up. Meanwhile, Biden has tapped Big Tech critics to lead on antitrust regulation. Potential breakups or blocked acquisitions could become existential threats. 


Facebook's Biden drama: misinformation has hurt the social giant's rep — but not its biz

__Big Tech earnings...__ drop together. __[Apple](https://robinhood.com/stocks/AAPL)__, __[Microsoft](https://robinhood.com/stocks/MSFT)__, __[Amazon](https://robinhood.com/stocks/AMZN)__, __[Google](https://robinhood.com/stocks/GOOG)__, and __[Meta](https://robinhood.com/stocks/META)__ report quarterly numbers this week. Last quarter, the "Big Tech 5" [demolished](https://snacks.robinhood.com/newsletters/4yfojyZE9WLvdIySo7B6GF/articles/5HHwtkiQ6PZUclm1Kohn61/) earnings. Amazon and Apple had their best first quarters *ever*, Google's profit more than doubled, and Microsoft posted its strongest growth since 2018. The Nasdaq index, which is dominated by the Big Tech 5, is up 17% this year. Despite reopenings, some online pandemic habits seem to have stuck, and even intensified. But tougher antitrust regulation could spell trouble for the "Tech 5" down the line. 

__Oil or caviar?...__ You're feeling it at the pump: US gas prices are up 45% from last year. After oil prices [plunged](https://snacks.robinhood.com/newsletters/2yAve6xSRhLRA5umV930FV/articles/58PLs0oCRQ6EX1n9oXxhoN/) in March 2020, OPEC cut oil production to stop the free fall. Now, the powerhouse org of 14 oil-exporting countries has agreed to boost production, as oil prices [hit](https://www.cnbc.com/2021/07/18/opec-allies-agree-to-fully-end-oil-production-cuts-by-september-2022.html) their highest levels in more than two years. We'll see if higher prices helped  __[Shell](https://robinhood.com/stocks/RDS.A)__, __[Exxon](https://robinhood.com/stocks/XOM)__, and __[Chevron](https://robinhood.com/stocks/CVX)__ when they report earnings this week. The oil giants are also facing [pressure](https://snacks.robinhood.com/newsletters/eQVhHD0t1MjTu4j4q8zVZ/articles/1HiF9jeICX2hit2vVl4ZFO/) to embrace renewable energy. 


Events

Coming up this week...

__Delta rising...__ A surge in Covid cases driven by the highly-contagious Delta variant is pouring cold water on recovery optimism. Delta now accounts for an estimated [83%](https://www.businessinsider.com/delta-variant-new-covid-19-cases-cdc-director-2021-7) of all new Covid-19 cases in the US. The CDC is calling it "a pandemic of the unvaccinated," and a few big counties, including LA, have brought back indoor mask mandates. Last Monday, the Dow stock index had its [biggest](https://snacks.robinhood.com/newsletters/4P0waZFQHzr3Hio3dHHnGS/articles/1S1eUx1B7xoUhO3zNBjVNe/) one-day drop since October. Stocks have since recovered, but we could see more volatility ahead. 

__The "House Hype" is real...__ And it's not a TikTok creator mansion. The housing boom pushed the median US home price to a record high of $363K last month. Homeowners have benefited, gaining $1.5T last year as home values soared. But after more than a year of extreme home shopping, the tight housing supply is increasing, and is expected to grow through the rest of this year.

Last week's highlights...

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