📅 Economic Releases
| Time (ET) | Event | Impact |
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| 8:00 AM | USA Holiday | Holiday |
📈 Premarket Gainers & Losers
🎯 Gamma Flip Point — $SPX (S&P 500 Index)
$SPX gamma flip point is 7495.54 |
🔥 Hot Market News
| Abu Dhabi Tells Buyers to Load Oil Shipments Inside Hormuz Abu Dhabi National Oil Co. has instructed its customers to resume loading crude oil from its ports in the Persian Gulf, with the company offering assistance with tankers if needed. The UAE aims to reduce its reliance on the Strait of Hormuz and plans to double its crude export capacity via a pipeline to Fujairah by next year.
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| US Tells ASML It’s Concerned China May Have Top Chip Tool ASML Holding NV is facing accusations from US officials that it may have exported EUV-related equipment to China, in violation of export restrictions. While ASML denies these claims and asserts it has not shipped EUV machines or components to China, US officials claim to have sensitive evidence suggesting otherwise, escalating tensions between the company and the US government.
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| Google Is Using Nvidia’s Playbook To Build A Rival AI Chip Business Google is advancing its TPU commercialization strategy by offering financial guarantees for data centers, introducing a new inference-focused TPU, and forming a $5 billion partnership with Blackstone to build cloud infrastructure. The company also plans to raise $85 billion in equity to bolster its AI infrastructure expansion.
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| Economy Trump claims Iran deal is ‘unconditional surrender,’ says his power has ‘no limits’ U.S. President Donald Trump declared that the agreement with Iran, signed after months of conflict, constitutes an 'unconditional surrender' by Tehran, facilitating the reopening of the Strait of Hormuz and halting military blockades. Despite the deal designed to prevent economic turmoil, it has faced backlash from U.S. lawmakers for not fully achieving its objectives, and criticism over Trump's handling of negotiations.
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| Elon Musk's SpaceX Looks to Raise Billions After Trillion-Dollar IPO Elon Musk has compared SpaceX to the Union Pacific Railroad as he seeks to raise tens of billions through an IPO and debt markets, despite skepticism about the company's ability to maintain investment-grade ratings. SpaceX plans significant capital expenditures specifically for its AI and orbital data center ambitions, with estimates for debt potentially reaching over $400 billion by 2031.
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💱 Forex & Commodities
| Japanese Yen Breaches 161 Against U.S. Dollar, Raising Speculation of Intervention The Japanese yen fell to its lowest level against the U.S. dollar since 2024, sparking speculation of possible intervention by Tokyo to defend the currency. Despite prior interventions and a rate hike, structural factors like elevated U.S. Treasury yields and Japan's growth-focused policies continue to weaken the yen.
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| Gold Prices Fall Amid Stronger Dollar and Hawkish Fed Signals Gold prices dropped on Friday, marking a third consecutive weekly decline, as a stronger dollar and hawkish signals from the U.S. Federal Reserve under new chairman Kevin Warsh pressured the metal. Traders now see an increased likelihood of a U.S. rate hike in December, whereas Goldman Sachs revised its gold price forecast to $4,900 per ounce by December.
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| Goldman Sachs Cuts Year-End Gold Forecast by $500 as Fed Rate Cuts Delayed Goldman Sachs lowered its year-end gold price forecast to $4,900 per ounce due to the Federal Reserve's delayed rate cuts, originally anticipated for 2026, and new Fed Chairman Kevin Warsh's hawkish stance. Despite this adjustment, the bank's analysts noted that gold is expected to gain in the second half, with potential downside if demand for gold as a macro policy hedge unwinds due to rate hikes.
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| Currency traders pile into dollar call options after hawkish Fed holds rates steady Following the June 17-18 FOMC meeting, currency traders wasted no time loading up on dollar call options, betting the greenback has more room to run.
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🪙 Crypto News
| Kalshi Eyeballs IPO After Surpassing $2B in Annualized Revenue: Report Kalshi is considering an initial public offering after achieving over $2 billion in annualized revenue, signaling significant growth and interest in the financial technology firm's platform.
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| Strategy’s STRC preferred stock falls to all-time low of $82.53 Strategy Inc's preferred stock, STRC, fell to an intraday low of $82.53, significantly below its $100 par value, leading the company to halt its above-par ATM sales for Bitcoin purchases. The decline raises investor concerns over Strategy's ability to service its increasing dividend obligations while maintaining its Bitcoin acquisition strategy.
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🛠️ Free Market Tools
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