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Stocks are at all-time highs. Chatter on WallStreetBets is surging. Retail traders are flooding into low-priced shares.

It’s not 2021, and the shares of the moment aren’t GameStop Corp., AMC Entertainment Holdings Inc. or the now-bankrupt Bed Bath & Beyond. In 2025’s meme stock mania, the companies du jour are Opendoor Technologies Inc. and Kohl’s Corp.
The similarities are clear: Like the episode four years ago, which famously led Gabe Plotkin to shutter his hedge fund Melvin Capital Management, amateur traders are piling into heavily shorted companies with low share prices in a bid to strike quick riches. And, as was the case back then, it comes at a time of broad market euphoria: the S&P 500 is at an all-time high, Bitcoin has doubled in less than year and blank-check companies are all the rage again.

Today's show features:

• Eric Jackson, Founder and President of EMJ Capital, on the latest rally in so-called “meme stocks” specifically Opendoor Technologies
• Bloomberg Businessweek Senior Reporter Max Chafkin on SpaceX warning investors that Elon Musk could return to US politics
• Monica Guerra, Executive Director and Head of US Policy for Morgan Stanley Wealth Management on the impact of tariffs on the economy and markets amid US dollar weakness
• Leo Kelly, CEO of Verdence Capital Advisors, on markets and the Federal Reserve’s path forward

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US President Donald Trump has threatened to impose 30% tariffs on European Union goods. Brussels says it still wants to negotiate, but it is also reportedly preparing a plan in case of no deal. Could the EU mount a meaningful response? Yes, by targeting US services, where America runs a trade surplus.

The challenge: getting key EU member states to overcome fears of provoking a broader escalation.
Darragh O’Brien, Minister for Transport, Climate, Energy and the Environment for the Republic of Ireland, offers his assessment of the critical trade talks, his nation's importance to the global investing landscape, and Ireland’s sustainable energy plans as its data center installations continue to proliferate. Darragh speaks with Tim Stenovec and Carol Massar on Bloomberg Businessweek Daily.

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Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

The start of a busy week for Corporate America saw stocks giving up most of their gains, with traders looking for signs of resilience in earnings amid tariff risks. Treasury yields fell alongside the dollar.

While the S&P 500 closed above 6,300 for the first time, the equity benchmark rose just 0.1%. Energy shares joined a decline in oil amid lingering worries about crude demand. A gauge of the “Magnificent Seven” megacaps outperformed, with Tesla Inc. and Google parent Alphabet Inc. due to report results this week. The stakes will again be high as traders look for updates on artificial-intelligence spending. Nvidia Corp. fell.

Gains in Treasuries were led by longer maturities, with the 30-year yield slipping four basis points to 4.95%. The greenback dropped against all of its developed-world peers. The yen climbed as Japan’s Prime Minister Shigeru Ishiba said he would carry on as leader even as the ruling coalition lost its majority in the upper house election.

Investors will also keep a close eye on tariff headlines. President Donald Trump may issue more unilateral tariff letters before Aug. 1, White House Press Secretary Karoline Leavitt said. More trade deals may also be reached before the deadline, she added.

Today's show features:

• Alan Zafran, Co-Founder and Managing Partner of IEQ Capital on return of the bull market
• Bloomberg Businessweek Senior Reporter Max Chafkin on his Bloomberg Big Take, co-written with Ed Ludlow: Elon Musk’s Empire Is Creaking Under the Strain of His Antics
• Dr. Rebecca Homkes, Lecturer at the London Business School on business planning amid geopolitical uncertainty
• Bloomberg News Telecom Reporter Kelcee Griffis on Verizon’s earnings beat and boosted profit outlook

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