Hey there weekday warriors,

Today we’re breaking down Roaring Kitty’s livestream, Friday’s jobs report & a whole lot more.

Enjoy the next 4 minutes and 32 seconds of blue-chip news and commentary.

Keep on snapping necks and cashing checks,

- tyler

+ US stocks “wobbled on Friday, after a jobs report seen as pivotal to expectations for interest-rate cuts showed much stronger hiring growth than expected.” (Yahoo! Finance)

+ The 10-year Treasury yield “surged Friday as investors assessed a strong nonfarm payrolls number for May that fueled concerns that the Federal Reserve may not cut rates as soon as expected." (CNBC)

+ Oil “edged down on Friday and posted a third straight weekly loss as investors weighed OPEC+ reassurances against the latest U.S. jobs data that lowered expectations that the Federal Reserve will cut interest rates soon.” (Reuters)

+ Bitcoin “fell on Friday, dropping below the $70,000 mark as the dollar strengthened following key nonfarm payrolls data.” (Investing.com)

+ The three most talked about stocks on WallStreetBets in the past 24 hours were: 1) Nvidia -0.09% 2) C3.ai +0.2% 3) GameStop -39.3%

The market moves you need to know about…

+ CrowdStrike rose 5.3%, KKR jumped 7.7%, and GoDaddy climbed 3.7% after hours following the announcement that they’d replace Robert Half, Comerica, and Illumina in the S&P 500.

+ Shares of Yext soared 9.1% Friday on news that it is exploring a sale after attracting interest from buyers.

GameOver?

Roaring Kitty’s livestream on Friday was more disappointing than GameStop’s earnings (more on that later)…

Gill, who looks more like a dude living under a bridge trading HJs for crystal meth than someone on the brink of joining the tres commas clubs, let down the masses with his first video content in 3 years.

He clumsily shared his investment thesis, which essentially boiled down to “I like the stock.” Roaring Kitty praised Ryan Cohen, despite the Chewy founder being (part of) the reason the game seller is in this mess.

On the bright side, he did clarify that he wasn’t working with a hedge fund and was investing his own capital. Thus cementing his folk hero status.

By the time Roaring Kitty put us out of our misery and ended the meandering dumpster fire that he called a YouTube Live, shares were down just shy of 40% on the day.

Roaring Kitty sat by and watched nearly $200M in paper gainz evaporate.

To be fair, the stock was already down 25% ahead of the noon EST start time.

So wtf happened early in the sesh?

GME surprised us with earnings a few days early…

And it wasn’t pretty. Sales fell 29% year over year and missed the Street’s expectations.

So why’d it report early?

Probably to take advantage of the run-up, just in case Roaring Kitty rained on the GME parade. You see, it also announced it was selling 75M more shares, which, at the current price, means the company could raise >$2B.

I’ll just leave this right here…

Roaring Kitty posted this on Sunday evening…

+ US employers have a fever and the only prescription is more employees…

Instead of just replacing human workers with AI-powered bots, employers were hiring with reckless abandon in May. The US added 272k new jobs last month according to the official Bureau of Labor Statistics report. That’s up from 165,000 in April and much higher than the estimate of 190k.

But wait, it gets worse. Earnings rose more than expected as well (+0.4% month over month and +4.1% vs. last year).

So what does it all mean? Well, any hope of a July rate cut is gone. Oh, and the first rate cut coming this fall is probably closer to being on life support than it is to being a done deal…

+ The haters: “The Line will never see the light of day.”

Saudi Arabia: “Hold my beer.”

Saudi Aramco just completed a secondary equity offering that will allow the state-controlled oil giant to raise more than $11.2B. And despite diluting current stakeholders shares rose on the Saudi exchange.

The raise is all part of Crown Prince Mohammed bin Salman’s Vision 2030 plan, which will help diversify the country’s economy with things like a 105 mile 1.5 mile long linear city.

+ “If it is to be IPOed, so it be, so it is.” - Cousin Greg, I think

Shares of Waystar (not Royco) tumbled 3% on their first day of trading. The healthcare payment software maker opened below its IPO price after pricing at the middle of its range.

+ Death… and Warren Buffett buying more Oxy. Those are the only two things that are certain in life. The Oracle’s Berkshire Hathaway bought 2.5M more Occidental Petroleum (-1.0%) stonks last week for about $150M. That’s a drop in the bucket compared to the 250M+ shares it owns.

+ Personal-Finance Books to Put on Your Summer Reading List (Read)

+ Warren Buffett says this public speaking class changed his life—4 tips from the course (Read)

+ Buying a house of ‘Home Alone’ or John Lennon fame? There’s a premium for that (Read)

⏪ Friday, we were keeping an eye on the jobs report and Roaring Kitty’s live stream. You can catch all of the details above.

⏩ Here's what we’re keeping an eye on today...

+ Apple’s World Wide Developer Conference gets underway. Expect some major AI announcements.

+ Definitely going to be overshadowed by WWDC, but Amazon’s AWS conference starts today too

Yesterday, I asked, “How long until Roaring Kitty becomes a villain?”

Most of you think “He'll just kinda fade away in a few weeks.” Second pick? “He’ll die a hero.”

Here’s today’s question…

Before you go…

Amazing…

Does this look like the face of a guy you should take financial advice from?

No, it’s the face of an individual who is financially irresponsible/dumb enough to be talked into spending money on a family photo shoot that he could have just done with his iPhone. So, act accordingly...

This is not financial advice. Nothing in this newsletter is an investment recommendation. All content is created for entertainment, educational, or informational purposes only. Do your own research, or do yourself a favor and hire a professional.