Wall Street Breakfast Podcast: Trumps 'Golden Dome'

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Trump unveils vision for $175B ‘Golden Dome’ missile defense. (00:22) Ford (F) to let Nissan (OTCPK:NSANY) use its EV battery plant in Kentucky – report. (02:02) Wolfspeed (WOLF) craters following potential bankruptcy: report. (03:36)

This is an abridged transcript.

President Trump on Tuesday formally introduced his concept for the “Golden Dome.”

The “Golden Dome” is a proposed $175 billion missile defense initiative that would, for the first time, incorporate U.S. weaponry in space.

“We have officially selected an architecture for this state of the art system that will deploy next generation technologies across the land, sea and space including space based sensors and interceptors.”

Speaking from the Oval Office, Trump said he anticipates the system could be “fully operational” fairly soon…

“This design for the Golden Dome will integrate with our existing defense capabilities and should be fully operational before the end of my term, so we’ll have it done in about three years.”

While Trump expressed confidence in the program’s timeline, a U.S. official familiar with its planning said it’s more realistic that the system might achieve partial readiness by then, given the complexity of the technology involved, the Associated Press reported.

Trump named Gen. Michael Guetlein, currently the vice chief of space operations, to oversee the project’s development. The Golden Dome system is envisioned as a multilayered defense platform capable of intercepting missiles during every phase of their trajectory — from pre-launch detection to terminal descent — using both terrestrial and space-based systems.

This article takes a closer look at how much this will cost taxpayers, the plan’s nontraditional path forward and the contractors that could be used to turn this from plan into reality. A link to the full article is in show notes.

Ford Motor (NYSE:F) will allow Nissan (OTCPK:NSANY) to use part of its battery plant in Kentucky.

People familiar with the matter told The Wall Street Journal that Ford (NYSE:F) has two EV battery manufacturing plants in Kentucky as part of a joint venture with South Korean battery maker SK On. One of the factories is not in use, and only a portion of the other plant is producing batteries for Ford.

The active plant will now make batteries for Nissan (OTCPK:NSANY) too, according to the report. This could help the Japanese automaker reduce some exposure to U.S. tariffs on imported cars and auto parts.

Ford (NYSE:F), which began revising its EV strategy last year, lost $5B on its EV business in 2024 and in February forecast a $5B loss for 2025. Earlier this month, it suspended its 2025 guidance due to tariff uncertainty.

In March, Nissan (OTCPK:NSANY) announced that SK On will supply U.S.-made batteries for its EVs. An SK On spokesperson told WSJ that the company has yet to decide where the batteries will be manufactured in the U.S.

Automakers have been facing weak EV demand and higher costs, forcing them to pull back. General Motors (GM) recently sold its stake in a battery plant being constructed in Michigan to its Korean partner LG Energy Solution.

GM’s (GM) Tennessee battery factory is running at around 40% of its planned capacity, while its Ohio plant is about 80% used.

Wolfspeed (NYSE:WOLF) is down 55% premarket after dropping 10% in regular trading on Tuesday.

The Wall Street Journal reported the semiconductor firm is preparing to file for bankruptcy.

The Durham-based company plans to file for bankruptcy sometime in the next few weeks, the report said, citing people familiar with the matter. Wolfspeed has approximately $6.5B in debt.

Wolfspeed is one of the world’s largest producers of silicon carbide technology, which is used in electric vehicles, artificial intelligence data centers, battery storage and other applications.

What’s Trending on Seeking Alpha:

Elon Musk on robots, litigious shareholders, and AI

SA Asks: Can retailers afford to eat tariff costs?

Kraft Heinz considering strategic options to unlock value

Catalyst watch:

• Chemed Corporation (CHE), Xenon Pharmaceuticals (XENE), CorMedix (CRMD), and Mind Medicine (MNMD) are scheduled to present at the RBC Global Healthcare Conference.

• Shareholders of Berkshire Hills Bancorp (BHLB) and Brookline Bancorp (BRKL) will vote on the planned $1.1 billion merger deal.

Now let’s take a look at the markets ahead of the opening bell. Dow, S&P and Nasdaq futures are in the red. Crude oil is UP 1.2% at $62/barrel. Bitcoin is down 0.6% at $106,000. Gold is up 0.5% at $3,307.

The FTSE 100 is down 0.1% and the DAX is down 0.3%.

The biggest movers for the day premarket: Toll Brothers (NYSE:TOL) +5% – Shares rose after the home builder delivered upbeat Q2 results and reaffirmed its FY2025 outlook despite softer housing demand.

On today’s economic calendar:

• 10:30 am EIA Petroleum Status Report

• 12:00 pm Richmond Federal Reserve Bank President Thomas Barkin will participate in a”Fed Listens” event as part of the”Elevating What Works” 2025 Investing in Rural America Conference hosted by the Federal Reserve Bank of Richmond.

• 1:00 pm 20-Yr Bond Auction

Editor’s Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.