June 25
US equities finished mixed on Thursday, with the S&P 500 flat, the Nasdaq 100 falling 0.5%, and the Dow Jones up 0.1%. Investors reassessed their exposure to mega-cap tech stocks while also weighing encouraging economic data.
Nvidia, Oracle, Amazon, Alphabet, and Microsoft saw losses up to 3.7%. Apple fell 6.1% after raising prices on MacBook and iPad products, citing higher component costs, including memory chips.
S&P Oil FX Gold 10Y CLZ6
S&P is down 0.01% | 13:59
Crude oil is up 1.81% to $71.61
CLZ6 is down to $69.49 and up 22% ytd
Gold is up $36 at $4,036, but down 30% from Jan highs near $5,600
Dollar index is 101.41, down 0.19%
The Committee to Save The World | Reck
I’m not so much ashamed of having once subscribed to Time.
I’m ashamed I nearly had this cover framed. | Sean Ring
Nvidia, Alphabet, Meta, Microsoft, Apple, Tesla are looking old and tired | Forex
Many of the darlings of the past are looking to break below 100/200 day MAs
“Dollar dominance is essential, and everything @POTUS is doing here
— if you look, the new Venezuela... the dollar is going to be the centerpiece of their trade... We’re seeing in the Iranian negotiations, the Iranians will be invoicing in dollars. Everything we are doing is pushing the dollar back... we’re reinforcing it.” | Bessent
Core PCE 0.3% m/m and up 3.4% y/y, most since October 2023
May PCE inflation 4.1%
Personal spending and income both rose by 0.7%
Dallas Fed trimmed mean PCE price index +2.8% vs +2.4% prior | Forex
Inflation numbers cool Fed hike talk
2Y yield down 3.9bp to 4.119%
Initial jobless claims 215K
GDP Q1 Growth Rate Revised up to 2.1% from 1.6%
May durable goods orders down -4.5% after an 8.5% increase in April
Micron Revives AI Euphoria, Oil Erases War Gains
Trump Approval Index is up to 45% | Ras
Another OPEC Exit? Iraq Warns It Could Abandon Oil Cartel If Quota Hike Rejected | Zero
Crude oil is extending losses for a fourth consecutive session and nearly wiping out all the gains made since the outbreak of the Middle East conflict, as progress in US-Iran peace efforts improved the supply outlook.
AAA gasoline is $3.918. The average was $2.98 on Feb. 28
Today’s Peak Digest
Commodity selloffs with gold below $4,000, US SAVE Act and court rulings, Iran Hormuz traffic and reparation funds, Iraq’s OPEC threats, China’s hold on rare Earths, and Gaza UN genocide report.
Israeli Defense Minister Israel Katz said on Wednesday that the US hasn’t asked Israel to withdraw its troops from southern Lebanon despite Iran maintaining that a withdrawal is necessary to implement the US-Iran Memorandum of Understanding, which calls for an end to Israel’s war. | Anti-War
The system makes the Dems live on as zombies. | Debt
You need two parties, and it’s -practically, not theoretically- impossible to add a third one. Here’s the reality nobody on the left wants to say out loud: the Democrat Party as it existed even a few years ago is finished. The socialist wing didn’t build a new party from scratch. It crawled inside the old one and took it over from the inside, like the zombie fungus controlling a dead ant. The Democrat Party is the corpse.
The socialist horse has left the barn
To say the Democratic Party has a Zohran Mamdani problem would be an understatement. But now we understand better how Mamdani was able to rise from obscurity and take the nation’s greatest city by storm. It was two essential elements: a message of affordability and effective organization.
NYC election results reflect highly educated yet downwardly mobile white people who are angry that their expensive degrees are worthless and people in jobs they find demeaning (electricians, plumbers) are making more than them. | Insta
What It Means to Be a Democratic Socialist
“The definition often depends on whom you talk to. But the movement’s standard-bearers are united by their belief that direct government action — not the free market — is a better tool to solve problems for everyday Americans, such as the rising cost of health care and housing.”
Doug Casey
St. Ignatius Loyola, who founded the Jesuits, and Lenin, who founded the Soviet Union, both said words to the effect that if you get control of the kids for a generation, you can warp their minds for a lifetime. They were both absolutely right. \\ Amish kids are homeschooled, and they have few of the problems afflicting “normal” society. No, you don’t have to swear off automobiles and electricity. But you can insulate them from really destructive influences.
This Utah State Senator Chaired the Agency That Approves Data Centers | Giz
Voters Just Fired Him. Data center backlash is becoming a potent political force.
Why is the Fed paying interest to private banks?
Heat Dome Sends European Power Prices Soaring
A heat dome is a weather phenomenon where a high-pressure system traps hot air in a region, preventing it from rising and causing extreme heat to persist for days or weeks. This results in blistering temperatures and can lead to drought and wildfires.
Jaundiced means “showing or influenced by feelings of distrust, distaste, or hostility.”
Someone described as jaundiced, or as possessing jaundiced opinions or views, is typically understood to feel that way because of negative past experiences. // She developed a jaundiced view of politics after years of chairing her local school board committee and witnessing all kinds of petty shenanigans.
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Text: 1 646 257 2130
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