Curry Cashes In, Trump Escalates Tariffs, and EVs Go to War

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Dear Money Master,

We’re kicking off the week with big moves in tariffs, tech, and athlete-led branding. 🏀 Steel stocks surged after Trump doubled tariffs to 50%, triggering international pushback. In a groundbreaking medical milestone, 🧠 Paradromics successfully implanted a brain-computer interface in a human. Stephen Curry’s $75M equity deal with Under Armour is redefining athlete entrepreneurship. Meanwhile, Zscaler crushed earnings thanks to AI momentum 🤖, and Chinese EV makers are setting sales records while slashing prices in a cutthroat market.

📘 Today, we have a special read for you.
Our partners at Efficient Frontier Investing are sharing their exclusive monthly newsletter, usually reserved for their community. It’s a rare look into how professionals think about the market. Not advice, just perspective. 🌍💼

📰 Your Daily Financial Digest - June 2nd, 2025

🌍 Economics & Finance:

1. Steel Stocks Soar After Trump Tariff Hike 🇺🇸
   Cleveland-Cliffs jumped 25% as Trump announced U.S. steel tariffs will double to 50%. The move boosts domestic producers but escalates tensions with global trade partners. Europe has already warned of retaliatory measures. Read More

2. Sanofi to Acquire Blueprint Medicines for $9.5B 💊
   Sanofi will pay up to $9.5B for Blueprint Medicines, gaining access to rare immunology treatments and expanding its specialty drug portfolio. BPMC shares surged 27% on the news. Read More

3. Trump Blasts China for Trade Violations as Talks Stall ⚔️
   Trump accused China of breaking a temporary trade pact, reigniting tensions. A court temporarily upheld broad tariffs, while long-term negotiations remain frozen ahead of looming 100% mutual tariffs. Read More

4. Stephen Curry’s $75M Bet on the Underdog Brand 👟
   Curry turned down Nike to join Under Armour, now leads the Curry Brand with an 8.8M share stake. His deal helped revamp UA’s image and impact underserved communities. Read More

💻 Technology:

1. Paradromics Implants Brain-Computer Interface in Human 🧠
   The neurotech startup successfully implanted its Connexus BCI in a human during epilepsy surgery, aiming to help paralyzed patients speak. A full clinical trial is planned by year-end. Read More

2. Chinese EV Makers Hit Record Sales Amid Price War 🚗
   Leapmotor and Aito both delivered over 44,000 cars in May. BYD sold 377K but slashed prices to clear inventory, stoking fears of another “Evergrande”-style crisis in the industry. Read More

3. SEC Drops Binance Lawsuit in Regulatory Shift 🪙
   The SEC officially ended its case against Binance and founder Changpeng Zhao, signaling a softer U.S. stance toward crypto enforcement. This comes after a $4.3B settlement and leadership changes favoring deregulation. Read More

💹Earnings:

1. Zscaler Rallies 10% on AI-Driven Revenue Growth 🔐
   Zscaler’s Q3 earnings beat expectations, with 23% revenue growth to $678M. AI adoption boosted demand for its zero-trust security platform. The company issued strong guidance for Q4. Read More

2. Costco Tops Estimates, Navigates Tariff Pressures 🛒
   Costco posted $63.2B in revenue and $4.28 EPS in Q3, beating expectations. The retailer is absorbing some tariff costs and shifting sourcing to protect member pricing. Read More

3. American Eagle Hit by $75M Write-Off, Slashes Guidance 👖
   AEO missed earnings expectations, blamed on a spring fashion misfire and heavy discounting. The retailer wrote off $75M in inventory and warned of weaker margins for Q2. Read More

4. Gap Warns Tariffs Could Cost $150M 📉
   Gap faces up to $150M in tariff-related costs, despite Q1 earnings beating estimates. The retailer is rapidly shifting sourcing out of China and betting on U.S. cotton to minimize exposure. Read More

📘 June Special Read: How the Pros See the Market

Want an inside look at how professionals approach today’s volatility? We're sharing the latest newsletter from our partners at Efficient Frontier Investing—normally reserved for their community, now available exclusively for you.

While many followed the old "sell in May" mantra, markets surged, driven by NVIDIA’s blockbuster earnings and a continued AI bull run 🤖. But geopolitical shocks from Trump’s tariffs and student visa bans rocked global sentiment 🌍. Plus, a hidden tax clause in his new bill may reshape foreign investment in the U.S. Curious how professionals are navigating this landscape? This is a must-read.

Read the entire newsletter in the Money Masters app. 📲

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To your financial empowerment, The Money Masters Team

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DISCLAIMER: This information is for educational purposes only and does not constitute financial advice. The publisher does not accept any responsibility for any losses incurred as a result of actions taken based on the information provided. Always conduct your own research or consult with a financial advisor before making any investment decisions.