π Economic Releases
| Time (ET) | Event | Impact |
|---|---|---|
| 8:30 AM | Average Hourly Earnings m/m | High |
| 8:30 AM | Non-Farm Employment Change | High |
| 8:30 AM | Unemployment Rate | High |
π Earnings Today
π Premarket Gainers & Losers
π― Gamma Flip Point β $SPX (S&P 500 Index)
$SPX gamma flip point is 7575.34 |
π₯ Hot Market News
| Meta's Future AI Models to Focus on Consumer Health, Says Chief AI Officer Alexandr Wang Meta's Chief AI Officer Alexandr Wang announced that future AI models are set to focus on consumer health capabilities, viewing health as critical as the company scales its models globally. This announcement follows Meta's significant investment in AI, including a $14 billion acquisition of Scale AI to enhance their artificial intelligence strategy.
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| SpaceX Projects Massive Growth and Discloses IPO Plans Goldman Sachs projects that SpaceX's AI revenue could reach $322 billion by 2030, significantly outpacing their rocket and Starlink businesses, with total revenue expected to hit $474 billion. SpaceX has also announced plans for an IPO to raise $75 billion, pricing 555.55 million shares at $135 each, which could give the company a valuation of $1.75 trillion.
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| No Progress in US-Iran Ceasefire Talks as Hezbollah Rejects Truce Ceasefire negotiations between the US and Iran remain stalled, with Hezbollah rejecting a US-brokered truce in Lebanon. The conflict has escalated with missile attacks from Iran and Israeli strikes in Lebanon, while President Trump claims a deal is near and criticizes a House vote to end the war.
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| Korea's KOSPI slides and then recovers as cracks emerge in world-beating rally South Korea's KOSPI index plunged up to 7% amid drops in Samsung Electronics and SK Hynix shares, highlighting market volatility and risks from AI-driven gains and leverage. The index has partially recovered, now down about 3%, as investors face potential rate hikes and declining retail participation.
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π± Forex & Commodities
| Japan Ready to Take 'Decisive Action' on Foreign Exchange as Yen Dips Near Critical Level Finance Minister Satsuki Katayama stated that Japan is prepared to intervene in the foreign exchange market to combat excessive volatility as the yen neared the 160-per-dollar threshold. Japan's foreign reserves suffered a historic drop, indicating the high cost of previous interventions, and Tokyo is exploring various strategies to stabilize the yen without large-scale Treasury sales.
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| Japanβs real wages rise for fourth month, backing BOJ hike Japan's real wages increased 1.9% from a year earlier, marking four consecutive months of gains, and exceeded economistsβ forecast of 1.7% growth. This continuous rise strengthens expectations for a Bank of Japan interest rate hike.
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| Why Spainβs Economy Is Growing Three Times Faster Than the Euro Area Spain's GDP is projected to grow by 2.1% this year, three times the euro area's average, due to increased labor productivity, strong fiscal policies, and immigration-driven economic growth. Despite challenges from rising energy costs and political uncertainty, Spain's stability and fiscal approach are helping maintain investor confidence and support a predicted reduction in its debt-to-GDP ratio.
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| ECB Watch: Yikes! It's Time for ECB Hikes The European Central Bank (ECB) is likely to implement interest rate hikes in response to economic conditions, as financial analysts anticipate adjustments to monetary policy to address inflationary pressures.
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πͺ Crypto News
| JPMorgan, Citi Among Major Banks Joining Tokenized Deposit Network Major banks, including JPMorgan and Citi, have joined a tokenized deposit network aimed at enhancing the efficiency and security of digital transactions. This development underscores the growing interest in blockchain technology within the traditional banking sector.
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| British Teenager Sanctioned by Russia After Exposing Alleged Crypto Laundering Network Alexander Browder, a 17-year-old British national, was sanctioned by Russia for his report revealing alleged Russian-backed crypto laundering operations, which claimed that $350 billion had been laundered by states including Russia. His exposΓ©, published by the Henry Jackson Society, highlighted the role of a Ruble-backed stablecoin known as A7A5 in evading western sanctions.
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| βThe low is almost in,β Standard Chartered says Bitcoin bottom near after tough week for crypto Standard Chartered predicts that Bitcoin is nearing its bottom after experiencing a challenging week in the cryptocurrency markets.
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π οΈ Free Market Tools
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