📅 Economic Releases
| Time (ET) | Event | Impact |
|---|---|---|
| 8:30 AM | Core PCE Price Index m/m | High |
| 8:30 AM | Prelim GDP q/q | High |
| 8:30 AM | Prelim GDP Price Index q/q | Medium |
| 8:30 AM | Unemployment Claims | Medium |
| 12:00 PM | Crude Oil Inventories | Medium |
📊 Earnings Today
📈 Premarket Gainers & Losers
🎯 Gamma Flip Point — $SPX (S&P 500 Index)
$SPX gamma flip point is 7491.86 |
🔥 Hot Market News
| US Military Conducts Strikes on Iranian Drones Threatening Strait of Hormuz The US military launched strikes on Iranian drones in the Strait of Hormuz, reportedly shooting down four attack drones and targeting a control station in Bandar Abbas as Iran threatened consequences if attacks continued. Despite Iranian assertions of a possible deal, President Trump dismissed reports of an agreement to restore commercial shipping through the strait, and the US continued to impose sanctions on Iran's Strait Authority.
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| ECB Chief Economist Sees Persistent Impact On Inflation From Iran War ECB Chief Economist Philip Lane cautioned that the inflationary effects of the Middle East conflict could endure, emphasizing potential long-term impacts on energy prices and supply chains, even if a quick resolution occurs. His comments align with other ECB officials' hawkish messaging, highlighting concerns over energy costs influencing Eurozone's broader inflation outlook despite any potential easing of the oil shock.
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| Economy Fed’s Kashkari says inflation fight takes priority as labor market is ‘in decent shape’ Minneapolis Federal Reserve President Neel Kashkari said Thursday that bringing down inflation in the U.S. remains his top priority, warning that consumer prices are still “much too high.”
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| Salesforce Announces Record Revenue and Significant Growth in Q1 Fiscal 2027 Salesforce reported a first-quarter fiscal 2027 revenue of $11.1 billion, a 13% increase year-over-year, and a significant rise in both GAAP and non-GAAP earnings per share. The company highlighted $3.4 billion in combined AI and data annual recurring revenue, with substantial contributions from Agentforce and Data 360.
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| Snowflake Stock Soars on An Upbeat Outlook and An AI Deal With Amazon Snowflake shares soared over 35% in extended trading after the company announced a $6 billion AI partnership with Amazon's AWS and posted earnings that exceeded Wall Street estimates. The company's positive results and increased full-year revenue outlook highlighted growing demand for AI-driven solutions.
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| Hedge Funds Losing Edge in World Dominated by ETFs Hedge funds are experiencing a decline in their competitive advantage as exchange-traded funds (ETFs) continue to gain popularity and market share, offering investors lower costs and greater accessibility.
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💱 Forex & Commodities
| Japan intervention data eyed as yen hovers near 160 per dollar Currency traders are counting down to Friday for official data from Japan’s Finance Ministry that will show how aggressively authorities intervened to support the yen over the past month.
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| US gold sinks to two-month low as US-Iran tensions stoke inflation fears Gold prices in the United States have dropped to a two-month low due to heightened tensions between the US and Iran, which have exacerbated fears of inflation.
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| Three Oil, LNG Tankers Exit Hormuz With Transponders Off Two supertankers and one LNG tanker exited the Strait of Hormuz with transponders off, headed for India and China, as shipping continues amidst the U.S.-Israeli war on Iran. This conflict has reduced daily shipping traffic through the strait and stranded about 20,000 seafarers on hundreds of ships.
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| Copper’s giant tariff trade is back and squeezing global market Copper traders are once again scouring the world for metal to send to the US, as renewed speculation about import tariffs revives a trade that’s upended the $300 billion-a-year market.
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| Oil investments to drop for third year on war shock, IEA says Global oil project investments are projected to fall below $500 billion by 2026 due to the ongoing Middle East conflict impacting oil supply routes, such as the Strait of Hormuz, and prompting a strategic shift towards alternative energy sources and new trade routes. Meanwhile, global energy investments are expected to rise to $3.4 trillion, focusing more on power grids, low-emissions fuels, nuclear, renewables, and gas projects, particularly in the US and Qatar.
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| Russia Boosts Crude Flows as Kremlin Banks Gains from Iran War Russia has increased its crude oil supply, capitalizing on the economic gains from the ongoing conflict involving Iran. The Kremlin is likely leveraging this opportunity to strengthen its market position amidst regional instability.
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🪙 Crypto News
| Google Employee Arrested for Insider Trading on Prediction Platform Polymarket Michele Spagnuolo, a Google engineer, has been arrested for insider trading after allegedly using confidential Google marketing information to make over $1.2 million in profits on Polymarket by placing bets, including those predicting search trends. He was brought before a federal judge in New York, and Google has placed him on leave while cooperating with law enforcement.
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| Bitcoin Falls to Five-Week Low Amid War Jitters, ETF Outflows Bitcoin's value dropped to its lowest level in five weeks, influenced by concerns over geopolitical conflicts and significant outflows from exchange-traded funds (ETFs).
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| Fund manager warns Bitcoin could drop as $150B Treasury operation nears A fund manager warns of a potential price correction in Bitcoin due to 228 publicly traded companies holding $148 billion in crypto, with many trading below the market value of their Bitcoin holdings. This financial strategy, while lucrative for pioneers like MicroStrategy, poses risks especially as some firms have used leverage, and if Bitcoin prices fall, it could lead to significant sell-offs.
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| Jefferies Predicts $1 Trillion Crypto IPO Market Amid Tokenization Jefferies anticipates that the market for cryptocurrency initial public offerings (IPOs) could reach $1 trillion, driven by an increase in tokenization activities across various sectors.
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