Good Morning and Happy Friday! U.S. stock futures fell early Friday after Israel launched an airstrike attack on Iran. Apollo and Irth Capital are looking to take Papa Johns private. And markets are brushing off U.S. deficit concerns as investors pile into bonds.

GameStop shares dropped 22% after announcing plans to raise debt to buy Bitcoin. Boeing is under pressure again after a plane crashed in India, killing nearly 300 people. And New York State will officially begin tracking AI-driven layoffs.

Plus: Wall Street is investing billions in marinas to house superyachts, banana prices are mooning, and Dubai chocolate is suddenly all the rage.

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SQUEEZ OF THE DAY

3-Day Weekends Forever

Fridays aren’t what they were post-COVID. Most offices are dead, and during the summer, it’s not uncommon for key decision-makers to be on a golf course or in the Hamptons.

And while most employees might be in favor of a four-day workweek, it turns out employers might be as well. A global trial across 245 companies and 8,700 employees just found that, thanks to a four-day schedule, 69% of employees feel less burned out, 42% say they’re mentally sharper, and 37% report being physically healthier.

As for the businesses themselves, revenue, retention, and absenteeism all improved. And after testing out the model, fewer than 10% of companies reverted to a five-day week.

This isn’t just a post-pandemic trend either. Microsoft Japan trialed a four-day week in 2019, shutting down on Fridays and capping meeting times at 30 minutes. The result? Productivity soared by 40%.

Georgetown professor Cal Newport says today’s hustle culture rewards “busyness theater” over real creativity. And the data backs him up, nearly half of workers in the four-day trials said their creativity increased.

So why hasn’t this become the norm? Old habits die hard, and some executives still believe anything that feels good must be bad for business. But with AI threatening to eliminate millions of jobs, there’s an argument to be made for trading layoffs for shorter weeks. Let workers reclaim time while still delivering results. According to the recent study, it’s a surprisingly low-cost way to boost morale and performance.

Takeaway: The four-day week isn’t a fantasy, it’s capitalism optimizing for sanity. If productivity gains come with fewer emails, shorter meetings, and an actual Friday, maybe the future of work doesn’t suck. For bankers though, it’d be nice just to get the weekend off.

HEADLINES

Top Reads

• Dow futures fall 600 points after Iran is targeted (CNBC)

• Apollo, Irth Capital look to take Papa John’s private (YF)

• Wall Street looks past US deficit concerns for now as investors snap up bonds (CNN)

• Trump's dealmaker image hits a wall (Axios)

• GameStop shares tank 20% as retailer reveals convertible debt offering (CNBC)

• Boeing stock sinks after plane crashes in India (YF)

• NY to track AI-related layoffs (BB)

• Wall Street is investing billions in marinas for bigger yachts (BB)

• The Fed is edging Trump from the driving seat for stocks (YF)

• Here are the three reasons why tariffs have yet to drive inflation higher (CNBC)

• The media and entertainment deal machine is revving up (WSJ)

• Wall Street is making some seriously weird trades (CNN)

• Oracle shares pop 15% to record high on earnings beat, cloud optimism

• 'Liberation Day 2.0' is coming, and how it plays out is anyone's guess (YF)

• Family offices eye private equity, crypto in push beyond stocks (BB)

• Banana prices are on the rise, even as inflation cools (Axios)

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CAPITAL PULSE

Markets Rundown

Market Update

• U.S. stocks closed higher Thursday as jobless claims held steady and producer price inflation came in slightly below expectations.

• Utilities and technology led gains, while communication services and consumer discretionary lagged.

• Bond yields extended their pullback, with the 10-year Treasury yield falling to 4.36%.

• The 30-year Treasury auction saw strong demand, with a bid-to-cover ratio of 2.43x, reflecting strong investor appetite.

• Asian markets finished mostly lower, as investors weighed progress in U.S.–China export talks.

• European markets also declined, led by travel and leisure stocks following the Air India plane crash.

• The U.S. dollar weakened, while WTI oil was little changed amid rising tensions between Israel and Iran.

Economic Data Highlights

• Jobless Claims (week ending June 7): Held steady at 248K, slightly above estimates of 244K. Insured unemployment rose to 1.95M.

• PPI Inflation (May): Headline PPI rose +0.1% MoM, below the expected +0.2%. Annual PPI inflation rose to 2.6%, matching forecasts.

• Core PPI: Dropped to 3.0% YoY, down from 3.2% in April, continuing the cooling inflation trend.

• 10-year Treasury yield: Closed at 4.36%, down 6 bps.

Reported Earnings

• Lovesac (LOVE): Posted weaker-than-expected results, with soft order growth and pressure on gross margins.

• Adobe (ADBE): Reported strong ARR growth in digital media; AI product traction continues to build.

• RH (RH): Results missed expectations as luxury home furnishings demand remained under pressure.

Earnings Today

• No significant earnings scheduled for today

Movers & Shakers

• (+) Oracle ($ORCL) +13% after an earnings beat; cloud optimism.

• (–) Boeing ($BA) -5% because of safety concerns over a India plane crash.

• (–) GameStop ($GME) -22% after the retailer announced a convertible debt offering.

Private Dealmaking

• Allison Transmission bought Dana’s off-highway business for $2.7 billion

• BioNTech bought CureVac, a cancer immunotherapies developer, raised $1.25 billion

• Multiverse Computing, an AI model compression startup, raised $219 million

• Meter, a networking startup, raised $170 million

• Proxima Fusion, a nuclear fusion startup, raised $150 million

• Lovable, a vibe coding startup, in talks to raise $100 million

For more PE, VC & M&A deals, subscribe to our Buysiders newsletter.

BOOK OF THE DAY

Hers for the Taking

Description: A motivational, story‑rich roadmap authored by veteran tech executive Tracey Newell, designed to empower women at all career stages. Through candid tales, actionable insights, reflection prompts, and case studies, it lays out how to build executive presence, shatter glass ceilings, and ascend to board roles—while managing life, confidence, and purpose.

Rating: 4.9 / 5 on Amazon
4.58 / 5 on Goodreads

Book Length: 198 pages
Audible Length: ~6–7 hours

Ideal For: Ambitious women professionals—whether fresh graduates, middle managers, or established leaders—who are charting a path to C‑suite or board roles and craving practical tools, confidence, and career clarity.

“Tracey Newell’s Hers for the Taking not only breaks down these barriers but … empowers women from all backgrounds … to rise above obstacles and reach their full potential.”

DAILY VISUAL

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DAILY ACUMEN

Discomfort

Growth doesn’t come wrapped in a warm blanket. It shows up uninvited—through awkward silence, shaky confidence, and the sting of not yet knowing. But that tension you feel? It’s not a red flag—it’s your next level calling.

 The future version of you isn’t waiting on a beach with a margarita.

They're forged in the fire of stretch experiences: the solo trip you’re scared to take, the project you don’t feel ready for, the truth you’re afraid to hear. Discomfort isn’t a barrier—it’s the lab where confidence is engineered and resilience is built.

Treat your identity like a living draft, not a fixed label. Let go of roles that no longer serve you.

Disrupt your routine before life does.

Invite feedback that stings—but also sharpens. And most importantly, stop trying to feel ready. Start getting real.

Because in the end, the question isn’t “How do I stay comfortable?”

It’s “Am I brave enough to become who I’m capable of being?”

ENLIGHTENMENT

Short Squeez Picks

• 5 signs you’re being talked over in meetings

• Great leaders make people feel noticed

• Why is everyone selling Dubai chocolate bars

• How Italian home cooks make their pasta taste too good

• The most confident-sounding U.S. accents

MEME-A-PALOOZA

Memes of the Day

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