The first mobile phone call was made on April 3, 1973 by Martin Cooper at Motorola.
Cooper, a lead engineer at Motorola, placed the call using a handheld prototype called the DynaTAC 8000X to his rival Dr. Joel Engel at Bell Labs. This groundbreaking event marked the dawn of the mobile communications era.
This milestone paved the way for the global mobile networks that billions rely on today.
Market Wrap
Global Trade Talks Heat Up as China’s Export Freeze Deepens
U.S.–China Trade Talks Commence in London: Senior U.S. officials—including the Treasury and Commerce Secretaries—met Chinese counterparts in London on June 9 to revive the bilateral trade consultation mechanism. This round of talks, following a 90-day tariff truce agreed in Geneva, could influence global market sentiment by addressing disputes over critical minerals, export controls, and broader geopolitical risks.
China’s Export Slowdown and Deepening Deflation: Beijing reported May export growth slowed to a three-month low amid U.S. tariffs, while producer-price inflation hit its worst level in almost two years, stoking concerns over global demand and pressuring commodity-linked equities.
LA Immigration Protests and National Guard Deployment: Demonstrations erupted after ICE raids led President Trump to deploy over 4,100 National Guard troops and Marines in Los Angeles, triggering a lawsuit from Governor Newsom and raising concerns about disruptions to local businesses and overall investor sentiment.
Trump’s “Baby Investment Accounts” Initiative: On June 9, President Trump unveiled a federal proposal to create tax-deferred $1,000 investment accounts for every American baby born between January 1, 2025, and December 31, 2028. Branded “Trump accounts,” these would track overall stock-market performance and allow up to $5,000 in annual private contributions, aiming to promote long-term savings and economic growth—though critics warn of its potential $2.4 trillion impact on the national debt and cuts to social programs.
Apple Inc. shares fell 1.2% as the company kicked off its Worldwide Developers Conference and investors tempered expectations following a delay to its next-generation AI-powered Siri features.
Tesla Inc. shares rose 4.6% after rebounding from last week’s steep decline, driven by optimism around the upcoming launch of its robo-taxi service in Austin and a rebound thesis among analysts.
Intuitive Surgical Inc. shares dropped 5.6% after Deutsche Bank downgraded the medical robotics leader to Sell, citing intensifying competitive pressures.
EchoStar Corp. shares plummeted 8.5% on reports that the satellite services provider could be headed for Chapter 11 bankruptcy, stoking debt-related worries.
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