📅 Economic Releases
| Time (ET) | Event | Impact |
|---|---|---|
| 6:00 AM | NFIB Small Business Index | Low |
| 8:15 AM | ADP Weekly Employment Change | Low |
| 8:30 AM | Trade Balance | Low |
| 10:00 AM | Existing Home Sales | Low |
| 10:00 AM | Final Wholesale Inventories m/m | Low |
| 4:30 PM | API Weekly Statistical Bulletin | Low |
📊 Earnings Today
📈 Premarket Gainers & Losers
🎯 Gamma Flip Point — $SPX (S&P 500 Index)
$SPX gamma flip point is 7458.26 |
🔥 Hot Market News
| China Exports Surge Tops Forecasts As AI Propels Booming Trade China's exports increased over 19% and imports skyrocketed more than 27% in May, driven by strong demand for artificial intelligence hardware, resulting in a trade surplus of $105.4 billion. South Korea's semiconductor exports to China soared over 200%, highlighting the impact of AI infrastructure demand on Asian trade.
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| OpenAI confidentially files for IPO, prepping Wall Street for mega AI debut OpenAI has submitted a confidential IPO filing with the SEC, valued at over $850 billion, as it competes with Anthropic and SpaceX in the AI market. The company plans a tender offer for employee shares, while focusing on AI advancements and enterprise growth amid ongoing legal disputes with Elon Musk.
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| Young and middle-aged Australians hit hardest as financial stress crushes life satisfaction Financial stress is significantly impacting the life satisfaction of young and middle-aged Australians, as these age groups face increasing economic pressures affecting their overall well-being.
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| Nearly half of Americans say they're worse off financially than a year ago, NY Fed finds Nearly half of Americans reported their financial situation worsened compared to a year ago, as an inflation spike driven by the Iran war leads to rising oil and gas prices. Consumer confidence in personal finance and job stability has decreased, with credit card delinquencies reaching their highest level since 2011.
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| Apple leaks foldable iPhone references in iOS 27 beta Apple released the first iOS 27 developer beta which includes code referencing features that indicate the upcoming launch of a foldable iPhone, known as the iPhone Ultra. This update will support app multitasking and iPad-like app layouts, with references such as 'foldState' and 'angleDegrees' detected in the iOS 27 beta frameworks.
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| Citadel Securities Sees Risk of Fed Forced to Raise Rates Soon A few weeks ago, the headline for this note was “Don’t get behind the curve” reflecting a concern that the Fed was not focused enough on these risks. This now appears to be changing…policymakers such as Governor Waller and Dallas Fed President Logan appear increasingly concerned about upside inflation risks…
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| AI Fears Spur 70% Plunge in Private Equity Tech Deal Value Global buyout deal value dropped 70% to $20 billion in Q1 as fewer large deals occurred, while software company valuations fell 8% amid AI concerns, exacerbating private equity's struggle to sell older assets. Private equity firms face a confidence problem, needing to adapt their strategies to the challenges posed by AI while dealing with record-low distributions and prolonged asset holding periods.
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💱 Forex & Commodities
| RBC Recommends Buy-on-Dips Strategy for USD/JPY Amid Yen Intervention RBC Capital Markets advises using intervention-driven dips in the USD/JPY currency pair as tactical re-entry points for long dollar positions, as the yen's return to 160 highlights market forces overpowering intervention. Two major challenges for the yen are heightened energy costs and domestic reluctance to invest in yen assets, while Japan's Finance Minister Katayama emphasizes readiness for decisive action and balancing fiscal sustainability with economic growth measures.
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| China's Oil Imports in May Drop to Lowest Since 2017 Due to Persian Gulf Disruption China's crude oil imports in May decreased to 33 million barrels, or 7.8 million barrels daily, the lowest since October 2017, as a result of a price spike from disruptions in Persian Gulf tanker traffic, according to Chinese customs data.
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🪙 Crypto News
| Bitcoin's $235 Billion Crash Masks Bigger Shift in Crypto Bitcoin experienced a substantial crash, losing $235 billion in market value, amidst a broader transformation within the cryptocurrency sector.
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| BTC Top CEO Says Strategy Can Withstand $30,000 Bitcoin Without Selling Much BTC The CEO of a leading Bitcoin company has stated that their strategy is capable of enduring a Bitcoin price of $30,000 without needing to sell a significant amount of their Bitcoin holdings.
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| Citrini Research Lists Crypto Exchange Hyperliquid as a 'Compelling' Investment Citrini Research has named Hyperliquid, a blockchain-based crypto exchange and its token $HYPE, as a new investment idea, noting its ability to generate legitimate cash flow and implement a buyback mechanism. Hyperliquid's platform has achieved $1.06 billion in annualized fees and significant trading volumes, positioning it as a leading player in decentralized perpetual futures trading, amidst competitive moves by exchanges like Coinbase and Kraken in the U.S. market.
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| Sam Bankman-Fried Seeks Pardon for Fraud Conviction Sam Bankman-Fried, former head of FTX, has applied for a presidential pardon from Donald Trump after serving two years of his 25-year fraud sentence, though Trump has previously signaled he would not grant it. Bankman-Fried maintains his innocence and is also pursuing an appeal against his conviction.
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| Inflation, Not Strategy, Is the Real Reason Bitcoin Crashed Below $60,000 Bitcoin's value dropped below $60,000 primarily due to inflation concerns rather than strategic market movements as investors reacted to rising consumer prices.
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| A crucial bitcoin market indicator is signaling that the worst of the crypto crash might be over The MVRV Z-Score, a key on-chain metric for bitcoin, is approaching the zero threshold, historically marking bear market bottoms, but may not have reached its lowest point yet as long-term and short-term holder metrics have not converged.
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🛠️ Free Market Tools
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