Happy Friday! Tesla just suffered its worst single-day market wipeout ever — but this wasn’t your typical market dip. As Elon Musk and Donald Trump trade public blows, a deeper battle over policy, power and the future of electric vehicles is unfolding.

Also, silver just surged to its highest level since 2012, and market veteran Peter Schiff says this is only the beginning. Read on to see what’s fueling silver’s rise, and why some people are calling it the metal to watch.

Plus, if you’re looking for a growing and global biopharmaceutical company, check out today’s sponsor.

In Today's Edition

• MARKET RECAP

• FIVE ZINGERS

• MARKET HISTORY

• ONE FOR THE ROAD

Musk Vs. Trump: Tesla Suffers Record $152B One-Day Crash — Elon Warns Tariffs 'Will Cause A Recession'

It’s been a rough couple of days between President Trump and Tesla CEO Elon Musk, and yesterday, things finally boiled over as both went into a shouting match on social media.

In the end, the electric vehicle giant saw its shares close down over 14%, suffering its largest one-day market cap loss in history ($152 billion). This wasn’t due to earnings, innovation delays or macroeconomic pressures. Instead, the drop was fueled by policy criticism.

It all started a few days ago when Elon Musk posted on social media that he was disappointed with Trump's 'Big Beautiful Bill' because it would increase the budget deficit, undermining the work that Musk and the Department of Government Efficiency (DOGE) team did.

In addition, the bill calls for eliminating the $7,500 EV tax credit, which could hinder Tesla's growth in the U.S. market. Tesla is already struggling globally, with seven consecutive months of sales declines in China, and sales across Europe have continued to fall as well. All of this comes right before Tesla's highly anticipated robotaxi unveiling in Austin on June 12.

Musk stated on X that the president’s comments on the EV mandate are “an obvious lie.” The Tesla and SpaceX CEO also suggested that he will decommission the Dragon spacecraft in response to Trump’s threat on subsidies.

Musk also asked if it was time to create a new political party in America that represents the "80% in the middle," and suggested that Trump's tariffs "will cause a recession in the second half" of 2025.

The good news for Tesla investors is that many shares have a history of big rebounds following large drops. Will today be another one of those days? We’re about to find out.

Kamada Launches Research Program To Build CYTOGAM Awareness

Kamada Ltd. (KMDA), the global biopharmaceutical company, is getting the word out about CYTOGAM, its treatment for organ transplant patients who contract cytomegalovirus (CMV), a potentially deadly virus for such patients. Kamada believes more can be done to highlight the benefits.

As a result, Kamada just announced a new post-marketing research program aimed at generating key data in support of the benefits of CYTOGAM. Developed in collaboration with Key Opinion Leaders (KOLs), it’s aimed at advancing CMV disease management through novel strategies focused on late-onset CMV prevention and mitigation of active CMV disease, exploring alternative dosing strategies and even investigating potential new applications of CYTOGAM. To learn more about CYTOGAM and Kamada, click here.

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Yesterday: U.S. indexes ended lower Thursday in choppy trading as a slump in Tesla shares offset news of positive tariff talks between the U.S. and China. President Donald Trump and Chinese leader Xi Jinping had a call, with officials saying the two countries will meet soon for more talks to help resolve the ongoing trade war. On the economic front, data showed a reversal of imports as companies were front-running tariffs, tightening the trade deficit and potentially boosting second-quarter GDP. However, labor market signals weakened with rising unemployment claims and job cuts. In addition, both U.S. Treasury yields and oil rose slightly on the day.

On Our Radar: Analysts will be paying attention to the consumer credit report — due later today — for insights into spending and household borrowing. On the earnings front, Woodside Energy (WDS) and Casey’s General Stores (CASY) will reports results on Monday.

Mo’ Mongo, Mo’ Profits: Shares of MongoDB surged after the company crushed analyst expectations. The good news didn’t stop there as the company approved an additional $800 million share buyback and raised its outlook as well. Dive in to discover all the details, including updated price targets from analysts after the blowout quarter.

Lift Off: Making its NYSE debut, shares of Circle — a stablecoin — surged nearly 175%, proving that "stable" doesn’t mean slow. As investors pour billions into USDC, could stablecoins be the new market movers? Click here to find out. 

Lulu-Boo-Hoo: Shares of Lululemon plunged despite beating analyst estimates. Read on to see why the apparel company had a sharp selloff, and what it means going forward. Is this a buying opportunity, or something investors should stay wary of?

Docu-Slide: At first glance, DocuSign had a terrific quarter as the company not only beat analyst estimates, but also raised guidance and announced a $1 billion increase to its share purchase program. Click here for insights as to why shares plunged.

Watt Now?: Broadcom reported earnings that topped analyst estimates, with guidance coming in line as well. However, shares dropped more than 5% as free cash flow was weaker than expected. Discover if this is a buying opportunity with shares up nearly 30% over the past month coming into earnings.

The next FOMC meeting is June 18, but the smart money is positioning early — and Chris Capre is going live to show you how. Join him Wednesday, June 11 at 6 PM ET to learn his full Fed trading framework, including pre-event positioning, post-announcement reaction trades, and high-probability setups using options.

This is your edge for trading both sides of the volatility.

On This Day In 1925…

Chrysler Corporation was officially incorporated with Walter P. Chrysler as President, marking the rise of a new major player in the American automotive industry. The company quickly gained recognition for its innovative engineering and stylish designs, helping to challenge established automakers like Ford and General Motors. Chrysler’s arrival came during a booming era for car manufacturing in the U.S., contributing to the growth of the industry and the expanding middle-class market for automobiles.

QUOTE OF THE DAY

“There is only one side of the market and it is not the bull side or the bear side, but the right side.”

— Jesse Livermore

Silver Hits 12-Year High: Peter Schiff Says Rally's Just Starting

Silver has officially stepped into the spotlight.

The precious metal not only made a new 52-week high but also rose to its highest level since February 2012 ($35.60), closing at $35.80 per ounce.

While gold continues to flirt with all-time highs, silver is now stealing the show. Longtime gold bull Peter Schiff says this rally is no blip on the radar — it’s just the beginning of a bigger move.

“This train has left the station and there's no stopping it," he posted on X.

Read on to see what has created a perfect backdrop for silver to shine — not just as a safe-haven asset, but also as an industrial powerhouse benefiting from broader market unease.

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