London is likely to experience scorching heatwaves this weekend, with temperatures climbing and peaking on Monday, according to the Met Office. 

Rising temperatures coincide with the start of play at the All England Club on Monday, potentially making it Wimbledon’s hottest ever opening.

Warm and humid weekend

A cloudy start is expected on Saturday, particularly in western areas where some rain or drizzle is likely, especially on upslopes, the Met Office said. 

However, the day will see an improvement across much of the UK. A band of cloud and rain is expected to move northward across central UK on Sunday.

Following a sweltering weekend, Monday’s temperatures are forecast to hit the mid-30s Celsius. This presents a challenging day for players, organizers, ticket holders, and those in queues. 

The Met Office said in an update:

The hottest day of the current spell is expected on Monday, with temperatures widely exceeding 30°C in central and eastern England, possibly reaching 34°C in London and towards Cambridge.

At 29.3C, the previous record temperature for the beginning of the grass court Grand Slam was recorded in 2001, according to a Reuters report.

Monday’s anticipated heatwave is predicted to exceed the 2015 tournament record of 35.7 degrees, a year when on-court temperatures were considerably higher.

A 10-minute break in play will likely be triggered by Wimbledon’s heat rule when the Wet Bulb Globe Temperature (WBGT) reaches or exceeds 30.1 degrees Celsius.

The Wet Bulb Globe Temperature (WBGT) will be measured at three distinct times: prior to the start of play, and subsequently at 14:00 and 17:00. 

This measurement comprehensively considers several environmental variables, including ambient temperature, humidity, wind conditions, and the angle of the sun.

For best-of-three set matches, the rule applies after the second set. In best-of-five set matches, it applies after the third set. 

Players may leave the court during this break but are not permitted to receive coaching or medical treatment.

Impact on quality 

Chris Tyler, an environmental physiology researcher at the University of Roehampton, welcomed the heat rule but noted that the heat could negatively impact the quality of matches.

“It’s good that they have a rule that uses the Wet Bulb Globe Temperature but what it doesn’t factor in is what the players are doing,” Tyler was quoted in the Reuters report.

“Most of the heat risk for players relates to their actual body temperature increasing, 80% of their body temperature is related to what they’re doing.

He also suggested that applying iced towels to the back of the neck during changeovers might not be the most effective method for players to cool down.

“It’s like a football team giving a pain-killing injection to their star player before a cup final, it makes them feel better but the injury is still there,” he said.

He further said that if it was core body temperature that they wanted to bring down, the towels were not really going to do much. 

Tyler added that the feet and the forearms had a lot of blood vessels and cooling them down was quite a good method of heat exchange, and also the groin where they had the femoral artery.

Plans

Wimbledon organisers are implementing precautions to safeguard the general public and staff, including ball boys and girls (BBGs), against the anticipated heat, while elite players are expected to manage these conditions.

A club statement said:

Adverse weather is a key consideration in our planning for The Championships, and we are prepared for the predicted hot weather, with comprehensive plans in place for guests, players, staff and the BBGs.

Additional free water refill stations will be available throughout the grounds. Real-time weather alerts will be broadcast on large screens and published on the tournament’s website.

To combat the heat, staff shifts will be adjusted, and “shade-mapping” will be implemented to help people find respite from the sun.

Following Monday and Tuesday’s extreme heat, temperatures are forecast to fall to the low to mid-20s for the remainder of the week, with a likelihood of rain showers, according to the Met Office.

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Snap Inc (NYSE: SNAP), the parent company of Snapchat, has endured a brutal comedown since its 2021 peak, with shares down nearly 90% from their all-time high.

But beneath the rubble lies a social media firm quietly rebuilding its growth engine – and investors might want to take notice.

From cutting-edge advertising technology to rapidly growing user engagement and a rock-bottom valuation, Snap stock is starting to look like a gift worth unwrapping.

Ad-tech and AI: two major tailwinds for Snap stock

Snap’s core business, digital advertising, was hit hard by Apple Inc 2021 privacy changes, which disrupted user tracking and ad targeting.

But Snap didn’t stand still. It rebuilt its ad infrastructure using machine learning, and the results are starting to show.

In Q1 2025, app-install campaigns on Snapchat saw a year-on-year increase of 30% in conversions from Apple devices, signaling the new ad engine is gaining traction.

The company also rolled out an automated bidding system that helps advertisers lower their cost-per-action while boosting return on ad spend.

Early adopters have reportedly seen a 16% boost to returns and a 32% decline in cost-per-action.

Meanwhile, Snap’s Sponsored AI Lenses – augmented reality ads powered by generative AI – are driving deeper engagement and brand interaction.

According to Zacks Equity Research, these immersive formats can boost impressions by up to 45% in a single day, adding to the list of reasons to buy Snap stock at current levels.

Revenue diversification to help SNAP shares in 2025

Investors should note that Snapchat’s user base looks far from saturated in 2025.

The social media app averaged 460 million DAUs this year in Q1 – a record high – helping a great deal in keeping advertisers interested in SNAP.

At the same time, the NYSE listed firm remains fully committed to diversifying its revenue beyond advertising as well, with initiatives like Snapchat+ that now boasts nearly 15 million subscribers and is on a $600 million annualised run rate.

Additionally, Snap Inc is seeing traction with its “My AI” chatbot powered by the Gemini models.

A 55% year-on-year increase in My AI’s daily active users in the first quarter suggests the company’s artificial intelligence investments are resonating well with the users.

Together, these innovations aimed at diversifying beyond traditional ad revenue and building a more resilient business model could unlock significant further upside in SNAP shares moving forward.

Snap stock is trading at a mouthwatering valuation

Perhaps the most compelling reason to consider loading up on Snap stock right now is its valuation.

At its 2021 peak, Snap traded at a sky-high price-to-sales (P/S) ratio of 40.

Today, that figure has collapsed to just 2.5 – near the lowest in the company’s public history.

And that’s despite a 14% revenue growth and a whopping 137% increase in adjusted EBITDA in Q1.

Snap’s gross margins remain healthy, and its operating expenses grew just 2% in the latest quarter.

While the company is still posting GAAP losses, it’s narrowing them significantly.

For long-term investors, this combination of improving fundamentals and depressed valuation could be a rare opportunity.

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The U.S. stock market is presently witnessing an extraordinary period, with the S&P 500 Index trading at all-time highs.

This remarkable rally has seen approximately $10 trillion added to the value of U.S. stocks since the index was on the verge of a bear market just two months prior.

This market buoyancy persists despite a multitude of looming risks, including President Donald Trump’s impending tariff deadline, ongoing geopolitical tensions in the Middle East, and increasing economic uncertainty.

Kate Moore, the recently appointed chief investment officer of Citigroup Inc.’s wealth division, articulated this sentiment in a recent interview with Bloomberg, stating, “If I’m honest, I’ve been a little uncomfortable with this rally.”

She highlighted a series of “warning flags” that, in her view, are not adequately impacting investor sentiment or receiving sufficient attention.

Emerging cracks and shifting expectations

A key area of concern, as identified by Moore, lies in the moderation of corporate earnings expectations.

At the beginning of the year, Wall Street analysts had projected a robust nearly 13% increase in profits for S&P 500 companies, according to data from Bloomberg Intelligence.

However, in less than six months, this forecast has been significantly revised downwards to a more modest 7.1%.

Concurrently, the composition of the stock market’s gains indicates a growing concentration around a limited number of companies.

While the standard S&P 500 Index continues its ascent, largely propelled by the strong performance of major technology entities such as Nvidia Corp., Microsoft Corp., and Meta Platforms Inc., its equal-weighted counterpart remains 3% below the record level it achieved half a year ago.

Moore, who assumed her role as CIO at Citi’s wealth business in February, after a tenure as head of thematic strategy for BlackRock’s $50 billion global allocation business, also voiced reservations about the market’s apparent dismissal of potential tariff impacts.

She further characterized the enthusiasm surrounding prospective interest rate cuts as potentially misplaced.

Policy uncertainty and economic headwinds

As President Trump’s self-imposed July 9 tariff deadline rapidly approaches with limited progress on trade deals, Moore suggests that investors might be underestimating the financial repercussions of these levies.

She underscored globalization’s significant role in the margin expansion observed over the past two decades, implying that companies will indeed experience the effects of new tariffs.

Furthermore, Moore cautioned against excessive optimism regarding interest rate reductions, explaining that such policy adjustments would likely stem from a response not only to cooling inflation but also to a broader deceleration in overall economic activity.

She emphasized that a “cooling overall activity is not the perfect environment for massive risk on.”

Wall Street analysts now anticipate that second-quarter year-over-year profit growth for S&P 500 companies will be the weakest in two years, projected at 2.8%, according to Bloomberg Intelligence data.

This economic softness is exemplified by FedEx Corp.’s recent warning of lower-than-expected profits for the current quarter, attributed to the ongoing impact of the trade war.

Additionally, economic data indicates that U.S. consumer spending in the first quarter experienced its slowest growth since the onset of the pandemic, driven by a sharp deceleration in outlays for various services.

Moore’s primary concern revolves around a lack of policy clarity, observing that “The longer that uncertainty lasts — the longer we have flip-flops on policy and wait-and-see mileposts keeps moving — the more that leads companies to pull back on some of the investment and capital expenditures and hiring.”

Strategic adjustments and enduring investment themes

Despite these broader economic apprehensions, Moore maintains a degree of confidence in the sustained strength of earnings within the artificial intelligence and technology sectors.

She notes that these investment themes have consistently demonstrated resilience across various economic cycles.

Moreover, even amidst a potentially deteriorating economic environment, she considers U.S. large-cap companies to be “the most attractive house on the street” in terms of available investment options.

Since joining Citi Wealth, Moore has initiated several strategic adjustments to the firm’s investment portfolios.

These changes include a reallocation of assets, shifting from small-cap companies to large-cap entities, a decision predicated on the expectation of a more challenging environment for smaller firms in terms of both growth prospects and profit margins.

She also disclosed the addition of gold to the portfolios, characterizing its inclusion as a “ballast” — a measure to provide stability and act as a hedge against market volatility.

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Following an exciting rally in recent months, shares of JPMorgan and Bank of America may now be running on fumes only, according to a senior Baird analyst.

David George recommends a more cautious stance on the two money center banks since their risk-reward profiles have become increasingly unattractive as valuations stretch and expectations soar.

Despite their reputations as “gold standard” institutions, the case for trimming exposure – or even selling outright – is gaining traction.

Why it may now be time to sell JPMorgan stock

JPM has handily outperformed the S&P 500 index this year, with shares currently up 35% versus their year-to-date low in early April.

But that outperformance did come at a cost – “valuation”.  

JPMorgan shares are currently going for a record 2.9 times tangible book value and a forward P/E ratio of 15.5, indicating a lot of the good news is already baked in.

On Friday, David George downgraded JPM stock to “underperform” with a price target of $235 indicating potential downside of about 18% from current levels.

According to the Baird analyst, JPMorgan continues to boast an exceptionally strong balance sheet and retains its dominance in the financial services industry – but “future returns will likely not be what they’ve been the last several years at these valuation levels.”

Simply put, this best-in-class franchise will likely prove a poor investment given the expectations are too high.

With capital markets reopening and deregulation providing tailwinds, the bullish narrative is compelling – but perhaps too widely embraced. George’s contrarian view is that valuation still matters, and in JPM’s case, it may be signaling a ceiling rather than a floor.

Why it may now be time to sell Bank of America stock

BofA has also enjoyed a solid run in recent months, with shares up some 12% currently versus the April low. Still, David George downgraded the bank stock today to “neutral”.

His $52 price target on the Bank of America shares implies modest upside, but not nearly enough to justify fresh buying at current levels.

Baird had previously upgraded BAC in April – believing the market was underestimating the firm’s earnings power. But with the stock now reflecting improved net interest margins and a more favorable capital markets backdrop, he believes the easy gains are behind it.

“We remain huge fans of the BAC franchise,” he wrote, “but feel like the stock is largely reflecting it here.”

In short, while BofA stock may not be overvalued to the same extent as JPM, it’s no longer the bargain it once was – and that makes it a hold at best, or a sell for those seeking better asymmetric opportunities.

All in all, with both stocks trading near highs and sentiment running hot, now may be the time to take profits before gravity sets in, George concluded.

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Tennis icon Roger Federer has now achieved the rare distinction of becoming a billionaire, placing him among a select few athletes to reach this financial milestone.

While his illustrious 24-year playing career, which concluded in 2022, saw him accumulate $130.6 million in prize money through 20 Grand Slam victories between 2003 and 2018, the predominant portion of his vast wealth has been derived from substantial sponsorship agreements and a strategic investment in a Swiss sneaker company.

According to the Bloomberg Billionaires Index, Federer’s net worth stands at approximately $1.3 billion, positioning him alongside other sports legends.

For context, Michael Jordan’s wealth was estimated at $3.5 billion following the sale of his stake in the Charlotte Hornets in 2023, and Tiger Woods’ net worth was calculated at about $1.36 billion last year by Bloomberg.

The power of endorsements and strategic investments

Sources close to Federer, who spoke on condition of anonymity, indicate his net worth is considerably above $1 billion.

Bloomberg’s valuation methodology incorporates Federer’s career earnings, investment returns, and endorsement deals, adjusted for prevailing Swiss tax rates and market performance.

A significant aspect of Federer’s enduring financial success lies in the longevity of many of his commercial partnerships.

He has maintained multi-decade relationships with prominent brands such as Credit Suisse Bank (now UBS Group AG), luxury watchmaker Rolex, and Swiss chocolatier Chocoladefabriken Lindt & Sprungli AG.

Beyond individual deals, Federer has meticulously cultivated a robust advisory network.

This includes Team8, the management company he co-founded in 2013 with his long-time agent Tony Godsick, as well as the Swiss firm Format A AG, which assists in managing various investments and his charitable foundation.

Sports analyst Bob Dorfman commented on Federer’s market appeal, noting, “Federer is totally scandal-free. He never says the wrong thing… But in terms of marketability, he’s been one of tennis’s best.”

A lucrative transition and an accidental windfall

Interestingly, some of Federer’s most financially significant deals materialized towards the latter stages of his playing career.

A notable example is his long-standing contract with Nike Inc., originally signed in 1996, which came up for renewal around 2018.

As tennis was not a primary focus for Nike, Godsick explored alternative partners.

This led to a substantial 10-year, $300 million offer from Uniqlo, a brand owned by Japan’s Fast Retailing Co., to become one of their flagship sports icons.

This agreement was particularly advantageous given Federer was 37 and nearing retirement; the deal included no obligations, even if he ceased playing, making it a highly attractive proposition.

However, even more impactful than his Uniqlo deal was an investment stemming from an unexpected introduction.

Federer’s wife inadvertently initiated the connection by purchasing a pair of sneakers from the emerging Swiss brand On.

Founded in 2010, On had gained recognition for its high-end jogging shoes featuring a distinctive sole, a design that originated from co-founder Olivier Bernhard’s prototype involving garden hose offcuts taped to his trainers.

Since Uniqlo does not produce footwear, Federer was free to pursue a shoe sponsor.

A self-professed sneaker enthusiast with a collection exceeding 250 pairs (excluding those used for playing), Federer initiated a meeting with On’s founders in Zurich.

Godsick also had a pre-existing connection, having made an angel investment in the company.

This led to a deal where Federer acquired an approximate 3% stake in On Holding AG and contributed to shoe design.

On is now valued at nearly $17 billion, which, according to Bloomberg’s wealth index, makes Federer’s stake worth at least $500 million.

Federer has, to date, avoided overexposure through extensive commentary roles or questionable sponsorships.

His recent public engagements include waving the French flag to commence the Le Mans endurance car race and launching a new Uniqlo clothing collection in Paris.

He is also expected to attend Wimbledon, the site of many of his greatest triumphs, when the tournament begins next week.

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