Prime time to join the club – Amazon joined the exclusive $2 trillion market-cap club for the first time last week, reaching $2.01 trillion. Thanks in part to artificial-intelligence enthusiasm, the company’s stock has gained 52% in the last 12 months, allowing it to join the likes of Alphabet, Microsoft, Apple, and Nvidia. (Source: NPR)

More like Abercrombie & rich– Abercrombie & Fitch has impressively outperformed Nvidia in stock gains over the past two years, as it has seen an 816% gain vs. just 630% from Nvidia. Despite its smaller market cap and focus on fashion, Abercrombie's successful turnaround strategy has driven substantial revenue growth amid the AI boom. (Source: Barron’s)

Okay great … but let’s not – The Federal Reserve reports that each of the 31 big US banks in this year’s annual stress test would, hypothetically, be able to withstand a severe downturn. The results show that the banks would be able to endure nearly $685 billion in total losses and still have considerably more capital than their minimum common equity requirements. (Source: CNBC)   

I know, I know—guac is extra – Last week, Chipotle executed a 50-for-1 stock split—their first stock split ever and one of the biggest stock splits in New York Stock Exchange history. The company stated that its aim was to increase liquidity and make the share price more accessible. Prior to the split, each share price was hovering around $3,200. (Source: Bankrate) 

Keeping up with the currencies – The Japanese yen fell to its lowest levels since 1986 against the US dollar. Despite reversing its yield-curve control policy earlier this year and raising interest rates to a range of zero to 0.1%, the yen is still struggling to keep up with higher rates in the US and higher returns on dollar assets. (Source: Reuters)

He swiped left – A federal judge rejected an antitrust settlement for Visa and Mastercard over so-called "swipe fees" charged to businesses when customers use plastic to pay. These fees account for the largest expense for many retailers after labor costs since credit-card companies charge anywhere from 2-4% on average per transaction. The ruling likely means credit card processors will need to make more concessions to resolve the nearly 20-year dispute with merchants. (Sources: The Hill and CNN)

Forgotten no more – For the first time ever, Gen X, or the forgotten generation, has higher 401(k) balances than baby boomers. The leapfrog is, in part, thanks to Gen X’s aggressive approach to retirement savings, while boomers are now retiring and often no longer contributing to their nest eggs. (Source: USA Today)

Justice for Bing Bong – "Inside Out 2" racked up $724.4 million worldwide in the first two weekends, edging out “Dune: Part Two” to make it the highest-grossing film of 2024 so far. The film is also on track to become the first billion-dollar movie of the year—a benchmark Pixar hasn’t seen since 2019’s “Toy Story 4.” (Source: CNBC)

I guess that’s not that me espresso – About 300 varieties of canned coffee are being voluntarily recalled after a Wisconsin-based manufacturer announced their canning process, which wasn't filed with the FDA as required, could allow for the growth of botulism in the cans. (Source: The Hill)

Don’t mind if I do – Thanks to an error made by the Detroit Tigers, the Philadelphia Phillies managed to pull off a rare 1-3-5 triple play in their win against the team. While this is the Phillies’ first triple play in seven years, the 1-3-5 triple play hasn’t been seen in Major League Baseball since 1929. (Source: Yahoo)