Sara Blakely launched Spanx with just $5,000 in savings in 2000, before becoming the world’s youngest self-made female billionaire in 2012.
She used her savings to prototype a footless pantyhose concept, landed deals with high-end retailers like Neiman Marcus, and gained massive exposure after Oprah Winfrey named Spanx one of her “Favorite Things.” Forbes recognized her bootstrap success and crowned her the world’s youngest self-made female billionaire at age 41 in 2012.
Her journey highlights the impact of relentless problem-solving, creative marketing, and unwavering self-belief.
Market Wrap
China Talks Drag On, Next Key Trade Deadline Looms
U.S.–China Trade Talks Shift to a “Slow Grind”:
Officials cautioned that negotiations have settled into a protracted phase with fewer breakthroughs, extending uncertainty for exporters and manufacturing firms dependent on tariff relief, and potentially capping gains for industrial and agricultural names.
House Passed OBB Act on May 22, 2025, Further Undermines U.S. Rare Earths Strategy:
China’s weaponization of rare earth minerals during the trade war highlighted their strategic importance to U.S. tech and defense sectors, yet on May 22, 2025, the House approved the One Big Beautiful Bill Act—which strips the 10 % “45X” production tax credit for domestic nickel, rare earths, and other critical minerals—further weakening America’s supply-chain resilience and choking off financing for miners and battery-materials companies.
Trump to Send Unilateral Trade Letters Ahead of July 8 Deadline:
With the July 8 deadline for his “reciprocal” tariffs fast approaching, President Trump announced at the Kennedy Center that within “about a week and a half, two weeks” he will dispatch letters to dozens of trading partners outlining “take it or leave it” terms—signaling a reversion to unilateral trade policymaking that may heighten uncertainty for exporters and global markets.
Trump Doubles Down on Fed Pressure:
Speaking at the White House, President Trump criticized Chair Jerome Powell as a “numbskull,” said he wouldn’t fire him but “may have to force something” to push for rate cuts, and reiterated his frustration over persistently high borrowing costs.
Producer Price Index (PPI) for May:
The Labor Department reported that producer prices rose by just 0.1 % month-over-month in May, below the 0.2 % consensus forecast, signaling only modest inflation pressures at the wholesale level, which could reinforce expectations that the Fed will keep rates on hold in the near term.
Initial Jobless Claims (week ending June 7):
The Department of Labor’s weekly report showed 248,000 new unemployment claims, unchanged from the prior week and slightly above the 246,000 economists had expected, pointing to a labor market that remains tight but may be losing momentum.
Oracle Corp. shares surged 13.3% after the cloud services provider raised its annual revenue growth forecast, driven by strong demand for its AI-related offerings.
BlackRock Inc. shares declined 0.5% after the asset manager hosted an investor day outlining ambitious private markets growth targets, raising questions about near-term execution.
Newmont Corp. shares rose 4.9% as bullion prices climbed to a one-week high amid soft U.S. inflation data and geopolitical tensions boosting demand for safe-haven assets.
AngloGold Ashanti Ltd. shares jumped 6.4% following the surge in gold prices to a one-week peak, driven by soft inflation data and heightened global uncertainty.
Harmony Gold Mining Co. shares gained 4.1% on the same safe-haven rally, with gold prices hitting multi-week highs amid subdued economic readings and rising Middle East concerns.
GameStop Corp. shares plunged following the announcement of a $1.75 billion convertible debt offering that diluted existing shareholders and dampened speculative enthusiasm.
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