TRUMP Drops 5.48% Amid Trump Digital GOLD Confusion

Public Citizen reports Trump's crypto ventures have generated $1.4B in income for him while causing $4.7B in losses for retail investors. Key products include $TRUMP meme coin ($3.2B losses), $WLFI token ($1B+ losses), and Bitcoin holdings ($450M loss). Trump earns through licensing and fees without capital investment, while investors bear price risk. The report suggests Congress should bar presidents from profiting from digital assets they regulate.

AT&T (T) shares dropped 8% after Bloomberg reported SpaceX (SPCX) is seeking access to 80,000 U.S. cell sites, potentially competing with AT&T in wireless services. SpaceX's Starlink Mobile users grew 37% to 22 million. AT&T added 379,000 postpaid phone subscribers and increased revenue by 5% to $32.3 billion, raising its earnings guidance to $2.40 per share.

Instacart (CART) shares rose 9.2% on reports of potential sale discussions. Bloomberg later reported that Uber (UBER) ended talks with Instacart. Instacart has been working with an advisor, according to the report.

CrowdStrike (CRWD) rose 20% after Evercore listed it among top cybersecurity firms. The company was added to the IBD 50 list. Analyst Ed Carson noted its price strength.

The Dow Jones Industrial Average closed at 52,215.16 on Friday, down 1.23% due to declines in financial and industrial stocks. American Express fell 3.7% after announcing job cuts, despite strong earnings. Rising oil prices and bond yields contributed to the sell-off. The Dow still gained 0.4% for the week, the only major US index to do so.

AT&T (T) shares fell 7.96% to $20.93 after Bloomberg reported SpaceX is in talks to access 80,000 cell sites, potentially increasing competition. Trading volume was 84.6M shares, 88% above average. Verizon (VZ) and T-Mobile (TMUS) also declined. AT&T beat earnings estimates and raised 2026 guidance, but investors focused on competitive pressures.