Apple, Microsoft Tumble On Abrupt Price Hikes Amid Chip-Crunch Contagion; Wall Street Responds Summary: Memory Chip Crunch Crisis May Unleash Flood Of Consumer Device Companies Hiking Prices  Microsoft Hikes Prices on Xbox  Apple Hikes Prices on Macs and iPads Wall Street Responds To Apple Hikes  Apple shares were down 5.5% in late-afternoon trading, on track for their largest intraday decline in 15 months, as the stock […]

Top JPMorgan DEI Executive Identified And Fired In NYC Trash Can Viral Video Authored by Jonathan Turley via jonathanturley.org, The viral video of a woman stealing a trash can and dumping its contents after the Knicks’ victory has led to her termination. Angie Baez, 40, was the “Executive Director of Community and Industry Engagement for Card and Connected Commerce” for JPMorgan Chase. She was shown in a video dumping trash on […]

Trump Cuts Off NATO’s Mark Rutte In Oval Office After Sitting Out Iran War As expected, President Trump took the opportunity to chastise NATO for its lack of participation in the Iran war while hosting the alliance’s Secretary General Mark Rutte at the White House. “We didn’t need help on this at all. We demolished them in literally the first week,” Trump said of Iran before reporters, while seated across from Rutte. That’s when […]

US Sees Record Q1 2026 Energy Storage Installations By Brian Martucci of UtilityDive The United States added 3.3 GW/8.4 GWh of energy storage in the first quarter of 2026, according to the latest figures from Wood Mackenzie and the American Clean Power Association. All three segments — utility-scale, residential and commercial/community/industrial — notched records for the seasonally slow first quarter. The London-based […]

Xbox Hits Gamers With Price-Hike As Major Retailer Warns Console Shortage Looms Ahead Of GTA VI Launch Two reports hit on Thursday that could upset gamers ahead of the release of Grand Theft Auto VI.  First, a major retailer warned that console shortages could emerge as demand for PlayStation 5 and Xbox Series X/S hardware collides with a memory chip shortage. Then The Verge reported that Xbox consoles are set for another price […]

Average 7Y Auction Stops On The Screws As Foreign Demand Slides After a solid 2Y auction and a subpar 5Y auction earlier this week, moments ago we got the week’s final Treasury issuance when the US auctioned off $44BN in 7Y paper in a perfectly average sale. Starting at the top, the bond priced at a high yield  of 4.260%, down modestly from 4.290% last month and in the middle of a range established in late-2023 after which the 7Y […]

Obama-Appointed Federal Judge Blocks Trump’s EO Requiring Proof Of Citizenship To Vote Via American Greatness, A federal judge on Wednesday permanently blocked key portions of President Donald Trump’s executive order overhauling federal election procedures, ruling that the president exceeded his constitutional authority by attempting to impose new voting requirements without congressional approval. U.S. District Judge Denise […]

A River In Egypt By Molly Schwartz, cross-asset strategist at Rabobank A river in Egypt Scott Bessent took to CNBC’s Squawk Box yesterday to opine on the situation with Iran. Bessent echoed Trump’s comments that any released Iranian assets are to remain under US Treasury oversight and are restricted to use for food and medicine. However, money is fungible, and any released cash that is used to help civilians may mean more cash […]

French Navy Boards 5th Russian ‘Shadow Fleet’ Vessel Off Europe Since September French President Emmanuel Macron has announced yet another highly provocative naval seizure of a Russian so-called shadow fleet vessel.  “On Tuesday, the French navy boarded the oil tanker Deliver as it was passing off the coast of Sicily in breach of maritime law,” Macron wrote in a post on X, revealing the prior interdiction that took place earlier […]

Trump Singles Out Exxon, Chevron, Shell, And BP Over High Gas Prices By Irina Slav for OilPrice.com President Donald Trump has listed Exxon, Chevron, Shell, and BP as being among companies responsible for excessively high fuel prices, following the announcement of a federal government probe into price-gouging earlier in the week. “Oil prices have come down so much and we are not seeing anything at the pump by comparison the […]

US Humanitarian Response Begins In Quake-Ravaged Venezuela, Are Hospital Ships Next? Summary US Phase One Of Humanitarian Response Begins Buildings collapsed in several districts of Caracas Venezuela declared a state of emergency after the earthquakes  Secretary of State Marco Rubio Deploys First Responders  Trump Says “U.S.A. stands ready, willing, and able to help”  USGS Says Quakes May Prompt “International Response”  […]

Cargo Vessel Comes Under Apparent Iranian Attack Near Oman, Crude Jumps, After IRGC Warned It Controls Hormuz Strait Summary: Iran tightens control over Hormuz: The IRGC says ships must obtain authorization to transit the strait or face enforcement action. Shipping disruptions emerge after increased flows: A tanker near Oman was reportedly attacked, and several vessels turned back after Iranian warnings, sending oil prices […]

Supreme Court Allows Trump Admin To Remove Deportation Protections For Syrians & Haitians Authored by Sam Dorman via The Epoch Times, The Supreme Court has allowed the Department of Homeland Security’s (DHS’s) attempt to remove deportation protections for nationals of Haiti and Syria. In a 6–3 decision on June 25, a majority of the court said federal law barred judicial review of non-constitutional arguments against […]

75% Of US GDP Growth In The First Quarter Was Due To AI On the surface, today’s final revision (aka 3rd estimate) of the US Q1 GDP print was unremarkable: Real GDP grew 2.1% annualized in the first quarter, a reversal of last month’s downward revision of 1.6%, but back to where the original print was when it was reported in April, when the BEA reported 2.0% growth.  The print reflected a downward revision to imports, which are a […]

Bayer Stock Soars After Supreme Court Guts Core Legal Theory Behind 1000s Of Roundup Cases Bayer AG shares soared in Frankfurt on Thursday morning after the Supreme Court sided with the German pharmaceutical and life sciences giant in a major Roundup ruling expected to block thousands of lawsuits alleging it failed to warn consumers that the weedkiller could cause cancer. Bloomberg reported that the Supreme Court voted 7 – 2 to […]

Bitcoin Tumbles As Strategy Slammed, Faces Massive $10 Billion Option Expiry Moments after the cash market opened, bitcoin plunged almost $3,000 in a matter of seconds to $58,000, on no news, sending the price to the lowest level since Sept 2024.  This was a strange move for bitcoin because while stocks do tend to move rapidly at cash open as that’s when options restart trading (as we have noted, in recent months most investors […]

A Golden Opportunity Just Appeared Authored by Matt Badiali via DailyReckoning.com, The headlines are screaming that gold is falling. And it’s true. The price dipped below $4,000 per ounce for the first time since November 2025. This seems backward. There are multiple wars going on in the world. Fuel prices are high. Gold is supposed to be the “safe haven” asset. Why isn’t it going up? Well, as analysts from LPL […]

Afghan Asylum Seeker Sentenced For Raping Goats And 6-Month-Old Lamb Via Remix News, A 19-year-old Afghan man, Massoud S., was tried Monday at the Aix-en-Provence court for sexual assault against six goats, one of which died, and a 6-month-old lamb at an educational farm. He has been convicted and sentenced to 30 months in prison and a ban from French territory. Afghan migrant Massoud S. was initially charged with “serious […]

Trump Requests $88 Billion Supplemental Funding Package Focused On Iran War Funds, Farm Aid, And Ebola Response President Donald Trump formally asked Congress on Wednesday for $87.6 billion in supplemental appropriations – your tax dollars (for our American readers) – to cover urgent needs stemming from the U.S. military campaign against Iran, provide economic relief to American farmers, and respond to the Ebola outbreak in Central […]

Continuing Jobless Claims At 3-Month-Highs, Initial Claims Tumble Back To 2021 Levels The number of Americans filing for unemployment benefits for the first time fell last week to 215k (after hitting four month highs last week), well below the 225k expectations and back to the same levels it was at in 2021… New Jersey and Oregon saw the biggest WoW rise in initial jobless claims while Minnesota and Pennsylvania saw the biggest […]

Services Costs Drag Fed’s Favorite Inflation Signal To 3-Year Highs, Savings Rate Holds Near Lows After accelerating in March and April, The Fed’s favorite inflation indicator – Core PCE (a measure of price changes in consumer goods and services that excludes volatile food and energy costs) – was expected to rise once again in May. And it did with the crucial inflation signal up 0.3% MoM (as expected) and up 3.4% YoY (as expected) […]

Futures Jump As Micron Revives AI Euphoria, Oil Erases War Gains Global stocks and S&P futures are higher while Nasdaq futures are on a tear after Micron’s sales forecast blew the lights out, brushing aside fears over a near-term pullback in the AI trade, while Qualcomm set aggressive targets at its investor day in New York. As of 8:00am ET, a revival of the AI demand theme is sending contracts on the Nasdaq 100 up 2.1% […]

Another OPEC Exit? Iraq Warns It Could Abandon Oil Cartel If Quota Hike Rejected Iraq is sending a warning shot to OPEC: raise Baghdad’s oil production quota to better reflect its capacity and fiscal needs, or risk yet another defection from the oil-producing cartel. “The ministry currently has no intention of withdrawing from OPEC, and we remain committed to operating within the organization’s framework and mechanisms,” Oil […]

The AI Race Will Be Won Or Lost On Power Infrastructure By Amanda Simonian, chief marketing officer at TerraFlow Energy, first published in UtilityDive Over the past several months, moving between conversations on Capitol Hill, industry conferences, and meetings with operators, developers and policymakers, I have been struck by how often very different discussions keep circling back to the same underlying concern: power. In […]

Heat Dome Sends European Power Prices Soaring An intense heat wave continues to bake France and parts of Europe, with temperatures surging well above the 30-year average for this time of year. Welcome to summer.  They think we are stupid, that our memories cannot stretch back to when life was normal, and when our lives were not based on fear… Summer, it gets hot, Winter it gets cold… It’s NORMAL. https://t.co/hYHvZ3dI2w — […]