Market update for Tuesday June 30, 2026 Check out the Public app for incredible investing tools and to support the show (LINK) Follow us on Instagram (@TheRundownDaily) for bonus content and instant reactions. In today’s episode, Zaid covers: Monday’s market bounce as the S&amp;P 500 and Nasdaq snapped five-day losing streaks The Dow hitting a record high after Alphabet officially joined the index The Supreme Court blocking Trump’s attempt to fire Fed Governor Lisa Cook Dronemaker AeroVironment&#x27;s blowout earnings Why Michael Saylor&#x27;s Strategy is abandoning its &quot;never sell Bitcoin&quot; mantra after the stock cratered 80% from its peak Gold’s worst quarter in more than a decade, and whether a second-half comeback is still possible

Michael Saylor Forced to Sell Bitcoin, Supreme Court Defends Fed Independence

The Rundown

# Full Transcript

**Podcast:** The Rundown

## Transcript

[SPEAKER_A] Public.com presents The Rundown, your daily market update in 10 minutes. My name is Zaid Admani, and today is Tuesday, June 30. In today's episode, we'll break down the Supreme Court's ruling on Fed Governor Lisa Cook and what it means for Fed independence. We'll also tell you why Michael Saylor might be forced to sell his Bitcoin. Then stick around to the end of the show to find out why gold just had its worst quarter in 13 years. We got a great show for you today. Let's go! Stocks started the week off on a strong note. The S&P 500 jumped 1.2% while the Nasdaq ripped 2.1%, both indices finally breaking a 5-day losing streak. And I guess I have to mention the Dow Jones here because the Dow rose 0.6% yesterday and closed above 52,000 points for the first time ever. Now, I'm still a Dow hater, all right, but it did get a makeover yesterday. Verizon was removed from the index and replaced by Google's parent company Alphabet, so the Dow became slightly more relevant in my eyes. And by the way, Alphabet made an immediate impact on the index. The stock jumped almost 5% on Monday, which helped push the Dow to a record high. And overall, yesterday was a nice bounce back for tech stocks in general. Amazon, Meta, Nvidia were all up 1 to 3%, and Tesla had a monster day, up 8%. By the way, it wasn't just tech stocks rallying on Monday. Even small-cap stocks were up, with the Russell 2000 index hitting a record high. The Russell 2000 is now up 21% this year, which is the best first-half performance for the index in over three decades. Now, looking ahead, we're about two weeks away from kicking off earnings season for the second quarter, and the key question for this earnings season is whether corporate profits can keep growing like they have the last couple quarters. Now, according to the Wall Street Journal, corporate profit margins hit an all-time record high in the first quarter, with net profit margins for the S&P 500 coming in at 14.8%. And it's not just tech companies padding those numbers. Financials, industrials, and multiple sectors are reporting margins above their 5-year average. Overall earnings growth for the S&P 500 came in at nearly 29% in Q1, which is the strongest since the end of 2021. You know, I think it was this strong earnings season that helped reignite the rally in April and May. So will this type of earnings growth continue for Q2 will be the key thing to monitor. We'll start getting some answers in a couple of weeks. In the meantime, remember we have a short week this week. Markets are closed on Friday for the Fourth of July, so no show from us on Friday and also no deep dive this weekend as well. But we still have a lot to cover this week, including Nike earnings which drop tonight. We'll cover those on tomorrow's episode, and then the June jobs report on Thursday morning. So we'll be covering that along with everything else happening in the market. So if you're...

Michael Saylor Forced to Sell Bitcoin, Supreme Court Defends Fed Independence

Transcript

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Michael Saylor Forced to Sell Bitcoin, Supreme Court Defends Fed Independence

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.