Trump accelerates quantum leaps 🇺🇸, ETFs hit record $1T 📈, Deutsche Bank cuts gold ⚠️

The latest ‘flash’ S&P Global PMI® survey showed a third straight monthly decrease in German business activity in June, with the rate of contraction quickening slightly to the fastest seen for a year-and-a-half. The downturn reflected weakness in underlying demand and contributed to further job losses across the private sector.

Spglobal · 3 minute read

U.S. President Donald Trump signed two executive orders aimed at hastening the development of quantum computing technology and enhancing security measures against quantum hacking. The initiatives involve federal agencies collaborating with private sectors to advance quantum systems for scientific research and building quantum-resistant encryption to safeguard critical infrastructure.

Siliconangle · 5 minute read

SpaceX has disclosed a massive cash position of $100.8 billion while simultaneously launching its first bond offering, signaling a significant shift in the company’s financial strategy as it continues to scale its aerospace and satellite operations globally.

Mexc · 3 minute read

Exchange-traded funds have attracted a record $1 trillion in cash this year despite ongoing inflation, market volatility, and geopolitical tensions. US-listed ETFs, particularly equity-focused ones like Vanguard's S&P 500 fund, have led the influx, highlighting the growing popularity and diversity of ETF investment strategies.

Yahoo Finance · 3 minute read

The US has issued a 60-day license allowing Iran to sell crude and petroleum products, marking a significant shift after years of sanctions, as part of efforts to establish a peace deal with Tehran. This decision could lead to a surge of Iranian oil into the market, potentially impacting global oil prices and reshaping established trade routes.

Yahoo Finance · 3 minute read

The US Department of Interior is slashing the bonds oil and natural gas companies must provide when drilling on federal land by 95% in a move to encourage more energy exploration. The bond required in onshore federal drilling leases will be cut to $25,000 from the $500,000 imposed during the Joe Biden administration, the department announced Monday. Such bonds ensure that the costs of capping and cleaning up any wells abandoned by drillers don’t fall to taxpayers.

Energyconnects · 1 minute read

Deutsche Bank AG has significantly lowered its gold-price forecasts, anticipating prices of US$4,300 an ounce in the third quarter and US$4,800 in the fourth quarter due to concerns over US monetary policy and reduced investment demand. The more cautious outlook follows similar moves by other financial institutions and reflects potential Federal Reserve rate hikes and ongoing gold sales by exchange-traded funds.

Theedgemalaysia · 2 minute read

21Shares co-founder has highlighted concerns that the enthusiasm around tokenization is outpacing the actual integration and acceptance of such technologies within mainstream financial institutions like those on Wall Street.

Binance · 3 minute read

Spot Bitcoin ETFs have experienced outflows for the sixth week in a row, indicating a persistent trend in investor behavior regarding these financial products.

The Block · 3 minute read