WEDNWSDAY MARKET UPDATE All six major banks beat. Every single one. Morgan Stanley posted record revenue yesterday — $21.35 billion — on a 69% surge in equities trading. The banking sector just had its best earnings week since 2021. Meanwhile gold is stuck at $4,070, trapped between soft CPI and
WEDNWSDAY MARKET UPDATE PPI confirmed what CPI started — wholesale prices fell 0.3% in June, the first decline in a year. Two soft prints in two days. And gold gave it all back. It surged Tuesday, then faded to $4,062. The reason: $86 oil. The market isn't
TUESDAY MARKET UPDATE CPI went negative. Banks crushed. Warsh is testifying right now with a soft inflation print in his hand and $86 oil at his back. Everything we've been watching all summer just landed on the same morning. * CPI: −0.4% MoM, 3.5% YoY — biggest monthly
MONDAY MARKET UPDATE Iran says Hormuz is closed. The Pentagon says it isn't. The US launched its fourth strike in a week on Sunday. Gold dropped below $4,100. And the single most important 24 hours of the summer starts tomorrow morning: CPI at 8:30am, Warsh'
FRIDAY MARKET UPDATE What a week. The Versailles deal collapsed. Airstrikes resumed. Oil surged 7%. Then Iran reached out seeking a new deal. Gold whipsawed from $4,183 to $4,067 and back to $4,115. The FOMC confirmed hawks lead 9-8. And Monday brings the June CPI and
THURSDAY MARKET UPDATE The deal is dead. Trump said the ceasefire with Iran is “over” and “a waste of time” at the NATO summit in Ankara yesterday. US and Iran are exchanging airstrikes for a second straight day. Oil surged 6%. Gold fell to $4,067 — because higher oil means
WEDNESDAY MARKET UPDATE FOMC minutes drop at 2pm. The committee split 9-9 on hikes. Warsh refused to submit a dot plot projection — the first Fed Chair to skip one since the practice began in 2012. SpaceX fell 1% on its Nasdaq-100 debut — classic sell-the-news. Gold is
TUESDAY MARKET UPDATE SpaceX is officially in the Nasdaq-100 as of this morning. $4.3 billion in passive fund buying is hitting a stock with only 3-5% float. The Dow crossed 53,000 on Monday. September hike odds dropped to 50%. FOMC minutes land tomorrow. And gold is
FRIDAY MARKET UPDATE Payrolls missed. Big. Only 57,000 jobs added versus 110,000 expected — the weakest in four months. Leisure and hospitality lost 61,000 jobs despite the World Cup. Gold surged to $4,183. The hike narrative just hit a wall. Markets close at 1pm for July 4th.
Gold surged 2% to $4,069, ADP vs JOLTS split, last session before July 4th... THURSDAY MARKET UPDATE Payrolls day. The number that decides the summer lands at 8:30. Warsh softened his tone at Sintra yesterday — said inflation risks have “eased” — and gold surged 2% to $4,090. JOLTS
ADP +98K miss, gold at $3,978, payrolls tomorrow — H2's first test inside... WEDNESDAY MARKET UPDATE Welcome to H2. The best quarter since 2020 just ended. Now the bill comes due. ADP missed this morning — 98K jobs versus 117K expected. Nike says there's “nothing normal” about
Nike at 11-year low tonight, JOLTS at 10am, Doha talks — H1 ends here. TUESDAY MARKET UPDATE Last day of the first half. The Dow just crossed 52,000 for the first time. SpaceX is joining the Nasdaq-100 next week. Tesla is testing a car with no steering wheel.