Happy Tuesday! A bold new forecast from Goldman Sachs is turning heads on Wall Street just days before the Fed’s next big decision. Could a rapid shift in policy be closer than most people expect? Read on to see why Goldman has Wall Street rethinking its playbook.

Also, the U.S. dollar just staged one of its most dramatic rallies in years while the euro took a sharp dive. Discover what’s behind this sudden currency shake-up, and how it could impact your portfolio.

Plus, if you’re looking for clarity and an edge in a post-fiat economy, check out today’s sponsor.

In Today's Edition

• MARKET RECAP

• MARKET HEATMAP

• FIVE ZINGERS

• MARKET HISTORY

• ONE FOR THE ROAD

Goldman Sachs: Five Rate Cuts Are Coming, ‘Markets Got It All Wrong’

As the Federal Reserve prepares for its upcoming meeting this week, a bold call from Goldman Sachs is shaking up Wall Street.

In a surprising move, the investment bank now expects five rate cuts between now and the end of 2026, with three of them coming this fall. That’s more than double what markets are currently pricing in. According to Goldman, the data is quietly building a case for faster easing — even before the full weight of new tariffs kicks in.

So why hasn’t the market caught on? Despite mounting signs of an economic slowdown, traders remain skeptical, betting on a much tamer Fed. But if Goldman is right, the pivot could happen sooner — and faster — than most expect.

Is your portfolio ready? Read on for more insights and analysis.

Why does everything feel more expensive?

The truth: it isn’t. The dollar is just worth less.

This week on the Founder’s Call, we reveal:

• The thought experiment that unmasks The Big Lie

• Why falling Bitcoin dominance can be a bullish signal

• How Power Law Theory maps Bitcoin’s unstoppable rise

→ CLICK HERE to learn the truth Bitcoin reveals about inflation

Yesterday: U.S. indexes ended mixed Monday as the U.S.-EU trade deal offered some relief ahead of the August 1 tariff deadline. The Nasdaq closed at its 17th record high of the year, while the S&P 500 notched another intraday all-time high, while the Dow slipped. The trade deal reduced proposed tariffs on most EU imports to 15%, helping to ease global trade uncertainty. In addition, the U.S. dollar posted its strongest gain since May, while the euro saw its steepest drop in several months. Treasury yields rose modestly ahead of the Federal Reserve’s policy decision on Wednesday, and oil prices climbed amid new U.S. pressure on Russia to end its war in Ukraine. Investors are also bracing for a busy week of earnings, with nearly 40% of S&P 500 companies set to report, including tech giants Apple, Amazon, Meta and Microsoft.

On Our Radar: Analysts will be watching several economic reports on Tuesday, highlighted by the Case-Shiller home price index, job openings and consumer confidence. On the earnings front, Visa (V), Booking Holdings (BKNG) and Starbucks (SBUX) will headline a slate of major earnings reports after market close today.

Shares of Nike surged after an analyst upgrade, and energy stocks soared following the United States-European Union trade deal in which the EU pledged to purchase $750 billion worth of U.S. energy exports over the next three years — up from roughly $100 billion annually. But those weren’t the only ones making big moves…

Discover how the market is moving with our interactive heatmap — filter by market cap and zoom in for deeper insights. Click any box to explore specific sectors or assets in detail.

Most traders follow the headlines. Tim Melvin follows the money. See how Tim, Anne-Marie Baiynd and Ryan Faloona are navigating today’s split market with simple income plays, powerful trends and undervalued stocks backed by real fundamentals. Reserve your seat — live this Wednesday at 6 PM ET.

On This Day In 1969…

Robinhood (HOOD) priced its highly anticipated IPO at $38 per share, the low end of its range, resulting in an initial market valuation of approximately $32 billion. The debut was closely watched, not only because Robinhood had quickly become the poster child of retail investors via commission‑free trading, but because it had played a central role in the 2021 meme‑stock frenzy. Despite opening strong, shares ended up falling more than 10% on the day. Fast forward to today, and the company has a market cap of more than $90 billion —- a threefold increase from its IPO. With its rise, the company is now knocking on the door of S&P 500 inclusion.

QUOTE OF THE DAY

“Value investing doesn't always work. The market doesn't always agree with you. Over time, value is roughly the way the market prices stocks, but over the short term, which sometimes can be as long as two or three years, there are periods when it doesn't work.”

— Joel Greenblatt

Trump’s Trade Deal With European Union Unleashes Dollar Thunder

A trade deal between the United States and the European Union lit a fire under the U.S. dollar, while sending the euro sliding off the map.

Following a high-stakes agreement between President Trump and European Commission President Ursula von der Leyen, the dollar soared to one of its biggest single-day rallies in years, while the euro had one of its biggest tumbles of the year.

So what happened? As more details of the deal emerge, investors are realizing there’s more to it than meets the headlines. Under the hood, it’s reshaping capital flows, market sentiment and the dollar’s long-term trajectory.

Read on for more insights, analysis, and how this latest trade deal can impact your portfolio.

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