📅 Economic Releases
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| 9:00 AM | FOMC Member Waller Speaks | Low |
📊 Earnings Today
📈 Premarket Gainers & Losers
🎯 Gamma Flip Point — $SPX (S&P 500 Index)
$SPX gamma flip point is 7495.12 |
🔥 Hot Market News
| Keir Starmer announces his resignation as prime minister of the UK Keir Starmer has announced his resignation as both prime minister and leader of the Labour Party. He has informed the King of his decision and has requested the Labour Party's National Executive Committee to organize a leadership election, intending a successor to be in place by September.
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| Iran and US Report 'Major Progress' in Peace Talks Amid Lebanon War Iran and the US have made significant progress in peace talks, aided by Qatari and Pakistani mediation, despite ongoing challenges including US threats and Israel's conflict with Hezbollah. Iran has begun seeing financial benefits like sanctions waivers and unfreezing of assets, while a high-level committee and working groups are set up to oversee continued negotiations.
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| UBS Shares Could Reach 2007 Highs, Says Jefferies Analyst UBS Group AG shares may rise to levels last seen in 2007 due to strong performance in wealth management and investment banking, according to Jefferies' Joseph Dickerson, who raised his price target to 60 Swiss francs. UBS's strong US and Asian wealth operations and its activity in equity capital markets are key drivers, despite the stock lagging behind peers this year.
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| Chinese AI stocks rally on demand optimism and policy support China announced new measures to promote AI adoption in consumer markets, leading to significant gains for AI-related stocks like Zhipu and MiniMax Group, while the securities regulator committed to easing listing rules for AI firms.
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💱 Forex & Commodities
| Katayama Warns on Yen Volatility as USD/JPY Rises Above 161, Intervention Risk Looms Japan's Finance Minister Satsuki Katayama stated that officials are prepared to act against significant currency movements, as the USD/JPY exchange rate climbs past 161.45, signaling a high risk of intervention. Traders are advised to consider options strategies to manage volatility, with past interventions occurring when the yen crosses critical levels.
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| Singapore dollar set to gain despite hawkish Fed, analysts say Analysts predict that the Singapore dollar will strengthen despite the US Federal Reserve's hawkish monetary policy stance.
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| Pound Near This Year’s Lows on Rumors of UK Prime Minister Keir Starmer’s Departure The British pound fell to near its 2026 low amid expectations that UK Prime Minister Keir Starmer will announce his departure soon, possibly ceding power to Greater Manchester Mayor Andy Burnham. Investors are concerned about potential fiscal policy changes under Burnham, contributing to the currency's weakness.
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| Gold Rises as US-Iran Talks Show Progress on Ending War Gold prices increased by as much as 1.6% after the US and Iran made progress in negotiations to resolve their ongoing conflict, leading to a temporary 60-day deescalation. Talks in Switzerland aim to secure safe passage through the Strait of Hormuz, with oil prices falling and tensions easing despite previous threats from President Trump.
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| Oil Options Resurface as US-Iran Peace Deal Influences Market Dynamics Niche option positions betting on an oil surplus are regaining relevance as crude futures decline following a US-Iran peace deal. The gap between key crude futures contracts has narrowed, making previously worthless put options pertinent again, while bearish market positioning reflects expectations that prices will continue to fall.
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| Russia Rations Gasoline in Moscow Amid Ukrainian Drone Strikes on Oil Infrastructure Following successful Ukrainian drone strikes on Russian oil infrastructure, gasoline shortages in Moscow have led major fuel retailers to limit sales. These shortages are compounded by the recent attacks on Gazprom Neft's Moscow refinery and Tatneft's Taneco refinery, significantly reducing Russia's refining capacity.
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| Oil Prices Decline After U.S.-Iran Talks in Switzerland Oil prices dropped following the conclusion of U.S.-Iran talks in Switzerland, with Iran announcing it secured waivers for oil exports, which alleviated concerns over global supply shortages. The talks aimed at extending a ceasefire see Iran’s export capacity potentially increase by 1.5 million barrels per day, despite challenges including the recent cessation of ship traffic through the Strait of Hormuz.
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🪙 Crypto News
| Bitcoin Treasury Company Strategy's STRC Stock Falls Below Target Price Amid Market Challenges STRC, preferred equity issued by Strategy, saw its stock price fall 17% below its $100 target due to a sharp decline in Bitcoin's value and management decisions. The situation is compounded by competition from Strive Asset Management's higher-yielding SATA security and Strategy's repurchase of $1.5 billion convertible notes.
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| Options Traders Bet on Bitcoin Price Falling to $52,000 Options traders are increasingly betting on Bitcoin's price to decline to $52,000 by the end of July as market sentiment turns bearish, influenced by signals of potential interest rate hikes from the U.S. Federal Reserve.
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| Charles Schwab to Enter Prediction Markets with S&P 500 Contracts Charles Schwab plans to test prediction markets by offering S&P 500 performance-based contracts via Cboe Global Markets, allowing users to bet on whether the index will surpass certain levels. The firm is expanding its financial offerings, including recent launches in spot trading for Bitcoin and Ethereum.
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