TL;DR

Fannie/Freddie IPO plan, BlackRock ups Bitcoin holdings, Okta drops on cautious outlook, Nvidia supply chain clears.

Highlights

• Trump administration considering taking Fannie Mae and Freddie Mac public at a $300B+ valuation, with implicit government guarantees to remain; privatization plan aims to avoid widening mortgage spreads 1.
• BlackRock acquires 22,419 Bitcoin , now holding over 621,000 BTC (~3% of global supply); recommends 1–2% portfolio allocation as institutional inflows accelerate 2.
• White House signals intent for U.S. to become a global Bitcoin leader, with policy support for government BTC holdings 7.
• Okta shares fall 11% post-earnings despite Q1 beat, as cautious guidance and slowing net retention rate raise growth concerns 3.
• Nvidia suppliers Foxconn and Dell resolve technical issues, accelerating GB200 Blackwell AI server shipments; expected to support Nvidia’s AI segment momentum 4.
• CoreWeave surges 20% to $122.50 (up 196% in May) despite first analyst downgrade and rising short interest; options activity spikes ahead of Nvidia earnings 6.
• Trump’s “Big Beautiful Bill” advances in Congress, cutting Medicaid funds for states covering undocumented immigrants and tightening eligibility; CBO projects $11B deficit reduction over 10 years 10.
• 23andMe to delist from Nasdaq amid bankruptcy; Regeneron acquisition prompts bipartisan bill to protect consumer genetic data 5.
• New York Senate passes bill enabling Mets owner Steve Cohen’s Citi Field casino plan; part of larger vacant-lots-to-parks initiative 11.
• Texas enacts law requiring parental consent for app downloads by minors, effective January 2026, despite Apple’s opposition 9.
• Starknet launches bridge for Bitcoin Runes assets, enabling cross-chain stablecoin and NFT transfers; trustless pools now live on dot_swap 13.
• Trump administration seeks Supreme Court stay to resume rapid deportations to third countries, challenging recent judicial injunction 14.

Commentary

After-hours trading is shaped by a mix of policy shifts and sector-specific developments. The Trump administration’s plan to take Fannie Mae and Freddie Mac public, while maintaining implicit guarantees, could have significant implications for mortgage-backed securities, agency debt, and housing-related equities 1. The focus on avoiding wider mortgage spreads suggests policymakers are sensitive to the risk of higher mortgage rates, which could affect homebuilders and lenders. The June 17 FHFA meeting will be a key date for further clarity 1.

Crypto remains in the spotlight, with BlackRock’s continued accumulation of Bitcoin —now holding roughly 3% of global supply—underscoring rising institutional adoption 2. The White House’s explicit endorsement of Bitcoin as “digital gold” and the intent to integrate crypto into the U.S. financial system add a policy tailwind 7. These factors, alongside new cross-chain infrastructure from Starknet, are likely to support further inflows into both Bitcoin and related equities, while also increasing volatility in the crypto sector 213.

In tech, Okta’s post-earnings drop highlights market sensitivity to forward guidance and slowing net retention, despite headline beats 3. Meanwhile, Nvidia’s supply chain partners Foxconn and Dell resolving bottlenecks should support continued strength in AI infrastructure demand 4. CoreWeave’s outsized rally—despite a downgrade and rising short interest—signals speculative activity in AI names, with options markets pricing in further volatility ahead of Nvidia’s earnings 6.

Healthcare and regulatory developments are also in focus. The Medicaid bill could impact healthcare providers in states with large undocumented populations, while 23andMe’s delisting and Regeneron’s pending acquisition have triggered bipartisan efforts to strengthen genetic data privacy 510. State-level regulatory moves—such as Texas’s new app store law and New York’s casino legislation—may have localized effects on tech, gaming, and real estate sectors 911.

Traders should watch for further details on the Fannie /Freddie plan, Nvidia’s earnings, Bitcoin ETF flows, and any Supreme Court action on immigration policy 1214. Expect continued volatility in AI, crypto, and housing-linked names.