Good morning and happy Sunday!

While markets were closed Friday for the Fourth of July, the fireworks started early on Wall Street. A better-than-expected June jobs report sent the S&P 500 and Nasdaq to fresh record highs on Thursday—marking the third time they’ve done so this week.

The rally came despite a sharp pullback in hopes for a July Fed rate cut, as private sector job growth showed signs of fatigue even while overall payrolls beat expectations. Still, talk of rate cuts in September is keeping investor spirits high, along with a potential breakthrough on tariffs and a massive tax bill nearing final approval in Congress.

Against this optimistic backdrop, a few key insiders made some eye-catching moves—from a billion-dollar sale by tech royalty to a politician quietly buying into Big Tech.

Here’s how it all went down.

P.S. This newsletter was drafted Friday. Want these trade alerts as they happen? Join Elite Insider here.

📦 Cleo Fields Bets on Amazon

On June 24, 2025, U.S. Representative Cleo Fields (D-LA) purchased shares of Amazon, Inc. $AMZN ( ▲ 1.59% ) , worth between $100,001 and $250,000 at an average price of $211.99 per share.

While not an enormous buy in dollar terms, the timing is notable. Amazon has been riding the broader market wave, benefiting from strong AI-driven cloud momentum and a rebound in consumer discretionary spending. With e-commerce volumes picking up and AWS showing signs of renewed growth, the company is once again in Wall Street’s good books.

Fields’ purchase suggests confidence that Amazon has room to run, especially as it eyes expansion into healthcare and advertising. It’s also a reminder that lawmakers can have unique visibility into policy trends—when they buy Big Tech, it’s usually worth watching.

💻 Michael Dell’s $1.2B Cash-Out

On June 26, 2025, Michael S. Dell, CEO of Dell Technologies Inc. $DELL ( ▲ 1.41% ) , sold a staggering 10 million shares at $122.27 each, totaling approximately $1.22 billion.

This is one of the largest insider sales of the year, but it’s not necessarily a red flag. He still owns over 25 million shares, maintaining a substantial stake in the company. The stock is up significantly year-to-date, benefiting from AI infrastructure demand and enterprise IT spending.

The sale could potentially reflect estate planning or diversification rather than waning confidence. Still, the sheer size of the transaction might put a cap on short-term bullish sentiment around the stock.

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🏦 Walton Family Lightens the Load

On June 24, 2025, the Walton Family Holdings Trust offloaded 3,035,258 shares of Walmart Inc. $WMT ( ▲ 0.77% ) at $98.21 each, netting nearly $298 million.

The Waltons frequently trim their holdings, but the timing—amid a retail resurgence and a string of strong quarters for Walmart—raises eyebrows. The company has been outperforming in both its brick-and-mortar and e-commerce arms, capitalizing on value-seeking consumers.

With more than half a billion shares still under their belt, the family’s commitment is far from in question. Still, this latest sale is a reminder that even the most entrenched insiders sometimes take chips off the table.