Happy Wednesday! As the market buzzes around AI and tech, one surprising sector is quietly outpacing them all. What’s fueling this unexpected surge, and which stocks are leading the charge? Dive in to find out.

Also, Tesla reports Q2 earnings today in what could mark a defining chapter in the company’s future. From disappointing earnings results over the past year to recent high-stakes bets on AI and autonomy, there’s a lot to unpack. Read on to see why investors aren’t just looking for financial results, they’re searching for a signal.

In Today's Edition

• MARKET RECAP

• MARKET HEATMAP

• FIVE ZINGERS

• MARKET HISTORY

• ONE FOR THE ROAD

White House Policies Ignite Wall Street's Hottest Trade — And It's Not AI

While headlines have been laser-focused on artificial intelligence and tech giants, a different kind of rally — one that is outperforming the market — continues to fly under the radar.

This sector is crushing the S&P 500, outpacing tech and drawing in billions in fresh capital. So what’s behind this unexpected surge?

Policy shifts out of Washington have turbocharged one of the market’s most traditional industries. At the heart of it is a massive defense spending bill, which has triggered a boom across aerospace, manufacturing and defense contractors. The result? A sector that once lagged tech is now the year’s breakout performer.

Read on for all the insights and see which stocks are leading the charge and how to position your portfolio before the rest of the market catches on.

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Yesterday: U.S. indexes ended mixed on Tuesday as investors weighed corporate earnings and ongoing trade developments. The S&P 500 inched up to close at another record, marking its 11th new high of the year. The Dow edged up, while the Nasdaq slipped as megacap tech stocks snapped a nine-day winning streak. Treasury yields fell, with the 10-year down to 4.33%, and oil prices declined and continue to stay within the recent $65–$70 range. Earnings remain in focus, with Tesla and Alphabet reporting after the bell today. On the trade front, the U.S. reached a limited agreement with the Philippines, while broader negotiations continue ahead of the August 1 deadline. President Trump renewed criticism of the Fed, calling for sharp rate cuts, though Treasury Secretary Bessant reaffirmed support for Chair Powell.

On Our Radar: Analysts will be watching the existing home sales report, as well as crude oil inventories — both due later this morning — to gain insights on energy trends and economic health. On the earnings front, Tesla (TSLA), Alphabet (GOOG) and ServiceNow (NOW) will headline a slate of major earnings reports that will be released after hours today.

Shares of D.R. Horton and Northrop Grumman were soaring on Tuesday, while Lockheed Martin and General Motors tumbled. But those weren’t the only big movers of the day…

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.

While Goldman Sachs raises targets and every sector hits new highs, you're still wondering where to invest. Get the inside track from Tim Melvin (Nvidia at $10) and Anne-Marie Baiynd (world-famous trader) before opportunities pass you by.

On This Day In 1903…

The Ford Motor Company sold its first car, a Model A, for $850. While this car was not mass-produced, it marked the beginning of Ford’s entry into the automobile market. The Model A helped establish the company's reputation and laid the groundwork for its future success. It wasn’t until the introduction of the Model T in 1908 and the development of the moving assembly line in 1913 that Ford truly revolutionized the automobile industry through mass production. These innovations drastically lowered the cost of cars, making them affordable for the average American and transforming transportation in the United States. Fast forward to today, and Ford has a market cap of $45 billion and has sold more than 2 million vehicles last year.

QUOTE OF THE DAY

“I do an enormous amount of trading, not necessarily just for profit, but also because it opens up other opportunities. I get a chance to smell many things. Trading is a catalyst.“

— Michael Steinhardt

Tesla Q2 Earnings Preview: Will Robotaxis, AI & 'Wartime CEO' Elon Musk Deliver?

Tesla is set to unveil its second-quarter earnings report after the market closes today, and many are calling it one of the most pivotal moments in the company’s history.

With revenue and earnings expectations down year-over-year, combined with a streak of missed estimates still fresh in investors’ minds — six of the last seven quarters overall — the pressure is on.

But the story goes far beyond just numbers. Behind the scenes, Elon Musk is doubling down on autonomy, AI, and the robotaxi rollout that could reshape Tesla’s future. Investors aren’t just looking for financial results; they’re searching for a signal.

Read on for the full preview of Tesla’s earnings, as well as all the insights, and what analysts will be watching later today when the company reports.

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