π Economic Releases
| Time (ET) | Event | Impact |
|---|---|---|
| 8:15 AM | ADP Weekly Employment Change | Low |
| 8:30 AM | Building Permits | Low |
| 8:30 AM | Housing Starts | Low |
| 8:30 AM | Import Prices m/m | Low |
| 4:30 PM | API Weekly Statistical Bulletin | Low |
π Earnings Today
π Premarket Gainers & Losers
π― Gamma Flip Point β $SPX (S&P 500 Index)
$SPX gamma flip point is 7559.51 |
π₯ Hot Market News
| CIA Director Raises Doubts Over Iranβs Intentions on Nuclear Deal The CIA Director has expressed skepticism about Iran's commitment to returning to the terms of the nuclear deal, casting doubt on the country's intentions regarding nuclear negotiations.
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| China Economy China economy weakens further in May as retail sales post first drop in over three years China's retail sales fell by 0.6% in May, marking the first decline since December 2022, while urban fixed-asset investment contracted more than expected by 4.1%. This unexpected downturn has increased pressure on Beijing to implement stimulus measures to spur consumption amidst economic faltering.
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| Nikkei crosses 70,000 for first time after BoJ rate hike The Nikkei index surpassed 70,000 points for the first time following a rate hike by the Bank of Japan, signaling a significant milestone in Japan's financial markets.
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| Hedge Funds Reopen Pre-War Playbook as Iran War Risks Recede The US and Iran have reached a peace agreement that will be signed on Friday, leading to a drop in crude prices and a rally in global stocks and bonds. This development is benefiting various markets, including shorter-maturity Treasuries, Asian currencies, and consumer stocks, as inflation concerns subside.
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π± Forex & Commodities
| Morgan Stanley Cuts Oil Forecasts As Hormuz Deal Revives Supply Morgan Stanley has lowered its oil price forecasts following a new deal concerning the Strait of Hormuz that has improved global oil supply prospects.
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| Iran likely to delay nuclear talks, retain leverage over Hormuz even with deal: experts Experts suggest that Iran is expected to postpone nuclear negotiations while maintaining its strategic influence over the Strait of Hormuz, regardless of reaching a potential agreement.
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πͺ Crypto News
| China's Regulatory Clampdown on Tokenization and Its Impact on Real Estate Developers Two Chinese property developers face challenges in raising capital through tokenized real-world asset offerings due to credit risks and a restrictive regulatory environment. While onshore tokenization is largely banned, compliant offshore tokenization through Hong Kong remains possible, highlighting the importance of due diligence on asset quality and transparency for potential investors.
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| Coinbase CEO Brian Armstrong Says Bitcoin May Have Bottomed at $60,000 Brian Armstrong, CEO of Coinbase, expressed his belief that bitcoin likely bottomed around $60,000 and anticipates its price to be significantly higher by 2030. Despite bitcoin's recent rebound above $66,000, analysts warn of weak demand and unstable ETF flows, leaving a sustained recovery uncertain.
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π οΈ Free Market Tools
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