📅 Economic Releases
| Time (ET) | Event | Impact |
|---|---|---|
| 8:30 AM | Core CPI m/m | High |
| 8:30 AM | Core CPI y/y | High |
| 8:30 AM | CPI m/m | High |
| 8:30 AM | CPI y/y | High |
| 10:00 AM | Fed Chairman Warsh Testifies | High |
📊 Earnings Today
📈 Premarket Gainers & Losers
🎯 Gamma Flip Point — $SPX (S&P 500 Index)
$SPX gamma flip point is 7541 |
🔥 Hot Market News
| Global Investments in Fusion Energy Reach Record $4.48 Billion in One Year Global investments in fusion energy reached a record $4.48 billion in the past year, marking a 69% increase from the previous year, according to a Fusion Industry Association survey. The surge reflects growing confidence in the industry's potential to meet future electricity demand, despite significant technical challenges remaining before fusion power can be commercially viable.
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| Foreign investors return as Goldman sees India stocks rebound Goldman Sachs expects Indian stocks to rebound from their first-half slide as foreign investors return, oil prices ease and the rupee stabilizes after months of pressure.
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| Leveraged Chip Bets Backfire in Korea as Biggest ETF Falls 45% A dozen single-stock leveraged ETFs in South Korea, including those tracking Samsung Electronics and SK Hynitz, have seen significant price falls with some nearly halving since May. The products have faced sharp declines, affecting the KOSPI index, while regulators consider imposing stricter investor guidelines amid high retail trading interest.
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| Taiwan fund profits up 80% after intervening to blunt Trump tariffs A fund in Taiwan reported an 80% increase in profits following its strategic actions to mitigate the impact of tariffs imposed by the Trump administration.
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| SoftBank’s Masayoshi Son Sees Fusion Power as Key to AI’s Future Masayoshi Son, founder of SoftBank Group Corp., forecasts that nuclear fusion technology will replace natural gas as the primary power source for data centers by 2040, despite the current technological and financial hurdles. He emphasized the potential of fusion to provide clean, safe, and abundant energy, contrasting it with the environmental impact of gas power.
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| UAE Oil Tankers Attacked While Sailing Dark Through Hormuz Two UAE-linked supertankers came under attack in the Strait of Hormuz, resulting in the death of a seafarer. Iran is reported to have targeted the ships with cruise missiles, and the incidents coincide with rising tensions and oil prices amid US-Iran hostilities.
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| In major escalation, Yemen’s Houthis target Saudi Arabia’s Abha airport Yemen's Houthi rebels have launched an attack on Saudi Arabia's Abha airport, marking a significant escalation in the ongoing conflict between the Houthis and the Saudi-led coalition.
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| BofA Warns Stock Bulls to Consider Curbing Aggressive Buying Bank of America's fund manager survey suggests that global investors reduce their exposure to stocks due to extremely bullish asset allocation and low cash levels. Positioning in US equities has reached its highest level since December 2024, and concerns about AI capital spending and potential credit events loom, despite investor optimism for economic growth.
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| Apple Receives Rare Bearish Rating as KeyBanc Downgrades Stock KeyBanc Capital Markets downgraded Apple's stock to underweight, citing concerns over demand, valuation, and slower growth due to rising prices. Shares fell 1% in premarket trading, with KeyBanc forecasting a price target of $250, indicating a potential downside of over 20%.
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| Software Stocks Sink as IBM Miss Delivers ‘Devastating Blow’ Shares of software and IT services companies dropped sharply after IBM reported preliminary second-quarter revenue that missed analyst expectations, raising concerns about the sector's prospects. IBM shares fell as much as 25% in premarket trading, impacting other companies like Microsoft, Workday, Oracle, Salesforce, and Autodesk, as well as IT service firms such as Accenture, Cognizant, and Infosys.
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💱 Forex & Commodities
| China’s Crude Imports Plunge to Lowest in Nearly a Decade China's crude oil imports dropped by 41.3% in June compared to the previous year, reaching a decade low due to high oil prices from reduced flows through the Strait of Hormuz and decreased Chinese refinery runs amid high feedstock prices.
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| Iran Sneaks Out Tankers Via Hormuz as Trump Amps Up Threats Iran is discreetly moving its oil tankers through the Strait of Hormuz while facing increasing threats from then-U.S. President Trump.
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| Flare-Up at Strait of Hormuz Threatens Global Supply Disruptions Beyond Oil Tensions over the Strait of Hormuz are causing disruptions in global supplies, affecting not just oil and gas but also key commodities like fertilizers and sulfur, crucial for agriculture and industrial production. Fertilizer exports could become scarce and expensive due to the risk to shipping routes and energy infrastructure, impacting global food production and prices.
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| Federal Reserve Warsh pledges Fed policy ‘regime change’ to rid inflation ‘tax’ on American people Federal Reserve Chairman Kevin Warsh announced his intention for 'regime change' in monetary policy to tackle persistent inflation, emphasizing the need to alter central bank practices and policies. He also highlighted the strength of the U.S. economy supported by AI-related business investments and initiated five task forces to review the Fed's operations, aiming to overhaul its approach.
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🪙 Crypto News / Prediction Markets / AI
| Kalshi Ramps Up Effort to Build Markets for AI Computing Power Kalshi Inc. has developed a prediction market exchange that will provide a forward curve for computing power costs, aimed at helping buyers and sellers manage exposure to the evolving commodity needed for artificial intelligence processes. This tool utilizes weekly and monthly event contracts to predict future costs, with aspirations to expand into futures and options products.
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| US and UK Pledge to Embrace Stablecoins More in Regulatory Push The UK and US have jointly committed to promoting the regulated use of stablecoins as a means of innovation in digital finance, intending to develop consistent legal, regulatory, and supervisory pathways. They aim to facilitate stablecoin integration into cross-border activities, emphasizing full backing by high-quality, liquid assets and supporting competition and innovation within regulated frameworks.
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| JPMorgan Warns Hyperliquid's Deal with Circle and Coinbase Weakens USDC Stablecoin Economics Hyperliquid's new agreement with Circle and Coinbase creates a competitive situation reducing income for both firms, as Hyperliquid now generates revenue that Coinbase largely passes to Hyperliquid, impacting Circle's USDC stablecoin economics. JPMorgan has lowered earnings forecasts for Circle and Coinbase due to weaker crypto trading volumes, falling USDC supply, and risks highlighted by these developments.
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| Binance bets on becoming a crypto super app amid stablecoin growth Starting June 1, 2026, Binance will allow users to trade over 7,000 US stocks and ETFs settled in stablecoins, primarily benefiting emerging-market users. The initiative will significantly expand Binance's ecosystem, leveraging its stablecoin infrastructure as a bridge between traditional finance and crypto.
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| Mizuho downgrades Circle on competitive threat from new rival stablecoin Mizuho downgraded Circle Internet Group, issuer of the USDC stablecoin, due to competitive threats from the launch of Open USD (OUSD), a rival stablecoin. The new stablecoin, backed by major companies like Mastercard and Coinbase, could undermine Circle's revenue model, leading to a lower price target and reduced 2027 earnings estimates.
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| Tokenization Offers Balance-Sheet Management for Pension Funds, Says Fidelity's Lai Tokenization is being increasingly used for balance-sheet management by pension funds, as highlighted by Fidelity's Lai, who notes its value in unique properties over ease of trading. The global asset tokenization market is valued at $2.1 trillion and is expected to grow to $24.5 trillion by 2033.
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🛠️ Free Market Tools
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