GLP-1s, Gen Z dent Jack Daniel’s sales
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Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. From political punches to a whiskey hangover and a crypto high, today is Friday, June 6th. I'm Julie Morgan.

Brown Foreman clocked his worst trading session on Thursday after the Jack Daniels maker issued subdued guidance amid tariff uncertainty and weaker consumer spending. CEO Lawson Whiting said it's the same big three, the GLP-1s, cannabis, and Gen Z, and we've been saying that for a year and a half now. He went on to say that he would still argue that it's the consumer and their wallet just doesn't have as much money in it.

adding that when people go to the grocery store, in some cases, spirits has fallen out of the basket a little bit. Brown Foreman shares sank nearly 18 percent on Thursday in their biggest single-day drop after disappointing Q4 results in fiscal year 26 guidance.

The company expects its operating environment to remain volatile, creating sustained levels of consumer uncertainty that will likely lead to another year of below-historical trends. On the plus side, Whiting said spirits continue to take market share from beer and wine.

A bromance gone bad, the billionaire battle, and a chaotic public breakup. These are just some of the ways the public feud between Elon Musk and President Trump that erupted between them on Thursday has been described. This is an update to our top story on Wall Street Lunch with Kim Khan on Thursday.

Politico reported that White House aides have scheduled a call with the world's richest man on Friday. Their clash escalated when the president threatened to terminate Musk government contracts, leading to a 14 percent drop in Tesla's shares on Thursday. The feud grew heated enough to raise concerns among allies, prompting figures like hedge fund manager Bill Ackman to step in and help defuse the situation.

Musk, for his part, appeared open to reconciliation. Tesla is clawing back some of those losses. TSLA is up 6% in pre-market action.

Circle Internet Group scored triple-digit gains in its first day of trading Thursday after the stablecoin issuer raised nearly $1.1 billion in an upsized initial public offering. The stock closed out the session up 168% to $83.23 per share, significantly above the $31 IPO price. It officially opened at $69 per share in early afternoon trading.

At one point, CRCL made an intraday high of $103.75 before paring some of the advance. The stock's volatile price action resulted in several trading halts. Pre-market CRCL is up 16%. Now let's get a look at a few other articles that are trending on Seeking Alpha. Amazon is reportedly set to test AI-powered humanoid robots for deliveries.

Rent the Runway's refreshed inventory lures in new shoppers. And DocuSign crashes as the company lowers full-year billings guidance.

On Wall Street right now, Dow, S&P and Nasdaq futures are in the green. Crude oil is down 0.6% at $62 a barrel. Bitcoin is up 2% at $103,000. Gold is up 0.1% at $3,357. The FTSE 100 is up 0.1% and the DAX is down 0.1%.

Lululemon Athletica is on our list of the biggest movers of the day pre-market. Lulu is down 22% after the retailer posted weaker-than-expected comparable sales and trimmed its fiscal year 2025 profit outlook, excluding any tariff-relating impacts despite heavy import exposure to Southeast Asia and China.

On today's economic calendar, at 8.30 a.m., the jobs report. Economists forecast 129,000 jobs added during the month of May and for the unemployment rate to hold steady at 4.2 percent. And at 3 p.m., consumer credit.

That's it for today's Wall Street Breakfast. Thanks for listening. To take full advantage of Seeking Alpha with coverage on significant stocks and ETFs, become a premium subscriber. Check out seekingalpha.com slash subscriptions. I'm your host, Julie Morgan. Go out and make it a great day.