Hey there, happy Monday. Today, we’re bringing you the latest on the Trump-Musk break-up saga (memes included), the restoration of Wells Fargo’s honor (kind of), and Trump’s newest touchpoint with Bitcoin.

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This week:

Check back Wednesday for our weekly stock market roundup—and Friday for our tech industry edition.

via CNBC

First, Musk started criticizing Trump’s “Big, Beautiful Bill.” Then Trump called Elon “CRAZY” and said he only disliked the bill because it removed the EV mandate. Trump also threatened to remove Elon’s government subsidies, and Elon responded with plans to decommission his Dragon spacecraft from use by NASA.

But then Elon ramped it up to 11 by claiming that Trump is on the Epstein list—a tweet that came out while FBI Director Kash Patel was on the Joe Rogan podcast (what a clip). Tesla lost $152 billion from the Twitter fight, making Elon’s posts some of the most expensive Tweets ever. Trump threatened consequences if Elon supports any Democrat initiatives.

Musk has since deleted multiple tweets from their feud—but for now, this AI-created music video about Trump and Elon’s relationship has us dying. Here are some of the best memes, too.

via Axios

The Federal Reserve has lifted the $2 trillion asset cap on Wells Fargo, removing the last major regulatory punishment from the bank's fake accounts scandal. I think they ended the punishment as a reward for this one Wells Fargo analyst who ordered 75 Chipotle bowls “for research”:

Burrito bowls aside, CEO Charlie Scharf called the $2 trillion development "a pivotal milestone" in the company's transformation, which is coincidentally how I describe getting out of jail in Monopoly.

Can you guess these stocks from AltIndex?

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via CoinDesk

President Trump's social media company, Truth Social, is quickly advancing its bid to launch a spot Bitcoin ETF. The announcement comes after 10+ companies announced Bitcoin Treasurys last month, including Trump Media.

The SEC faces a strict 240-day deadline to approve or reject the proposal—I’m just curious if the fact that it’s a Trump ETF will help or hinder his chances at the moment.

via USA Today​

President Trump renewed his booing and hissing at Federal Reserve Chair Jerome Powell for not cutting interest rates after employers added just 37,000 jobs in May, the weakest showing in two years.

Trump’s public push comes as manufacturing jobs slipped and long-term unemployment is still up. The Fed’s next policy meeting is set for mid-June, with markets (and memelords) closely watching for any shift in tone.

Elected officials have had a tremendous amount of success in the market recently.

I want to keep you updated on what they’re trading and when—so you can leverage that intel as you plan out your own portfolio.

Analysis provided by ​quiverquant.com.

Remember to always DYOR.

Disclosures