Nadella’s Hedge: Microsoft Wants To Make AI Models Cheap – Then Own The Rails They Run On The entire AI capital cycle – roughly $700 billion in hyperscaler capex this year, an estimated $2 trillion-plus through 2028 – is collateralized by one belief: that intelligence is scarce, and therefore priceable. That belief is already under strain. Per-token inference prices have fallen on the order of 200× in a year, and the only thing […]

The Technical Backdrop: When Flows Meet A Hawkish Fed Authored by Lance Roberts via RealInvestmentAdvice.com, Here’s the setup most investors are underrating right now. Over the next two weeks, the tape will trade on plumbing rather than fundamentals. We just cleared the largest options expiration in history. Quarter-end pension selling comes next, and then July 1 reopens the passive-money firehose into a market that already […]

Another Ukrainian Drone Wave On Moscow Temporarily Shuts Down All Four Capital Airports Yet another major Ukrainian drone attack wave on Moscow has shut down all regional airports, and sent parts of the capital city into temporary panic, and involved dozens of drones shot down overnight. Over 80 drones were intercepted in the past 24 hours, Moscow mayor Sergei Sobyanin announced Monday on Telegram. He didn’t offer numbers in terms […]

Nursing School Owner Pleads Guilty After Issuing Nearly 3,000 Fake Diplomas Authored by Naveen Athrappully via The Epoch Times, Carleen Noreus, who owned two nursing schools in South Florida, has pleaded guilty to her role in a scheme that sold nearly 3,000 fraudulent nursing diplomas, the Department of Justice (DOJ) said in a June 18 statement. A person receives a vaccine in Los Angeles, in this file photograph. Robyn Beck/AFP via […]

Trump Renews Threat Of Legal Action To New York Times Over Iran Coverage Authored by Owen Evans via The Epoch Times, U.S. President Donald Trump renewed his threat of legal action against The New York Times on June 21, accusing the newspaper of publishing “treasonous” coverage that downplayed the impact of the nearly four-month war with Iran. The New York Times Building in New York City on Feb. 5, 2024.Samira Bouaou/The Epoch […]

Prime Minister Keir Starmer Resigns As UK Faces 7th Leader In A Decade The Keir Starmer experiment is officially over, as was growing increasingly clear over the weekend, especially with an interestingly-timed Trump Truth Social statement. Just under two years after capturing the keys to Number 10, the British Prime Minister has thrown in the towel after succumbing to an internal party mutiny following days of intense, closed-door […]

Tehran Disputes Vance Claims On Nuclear Inspections & Assets For Agriculture Funding Amid Oil License Deal Summary Unfreezing Assets divergence in official rhetoric: “It is not true that Iran’s blocked funds will be used to buy grain, and it is not mentioned in any understanding,” Nuclear Inspector divergence: Vance said Iran agreed to admit nuclear inspectors, but Iranian state media denied any such agreement was reached. […]

Rep. Hunt: Racial Argument Against Voter ID Is ‘Insulting’ Authored by Catherine Salgado via PJMedia.com, Rep. Wesley Hunt (R-Texas) emphasized to Congress the importance of passing the election integrity SAVE America Act and rejected woke arguments against voter ID as racist and condescending. Democrats’ idiotic arguments against requiring ID to vote include claiming that black Americans are somehow mysteriously unable to get […]

Iran Tried To Bring IRGC-Linked Individuals Into US With World Cup Delegation: Homeland Security Chief Via American Greatness, Homeland Security Secretary Markwayne Mullin said Sunday that Iranian officials attempted to bring multiple individuals with alleged ties to the Islamic Revolutionary Guard Corps into the United States as part of the country’s World Cup soccer delegation. Mullin made the remarks during an interview […]

“DeepSeek Of The West” Reflection Inks Major Compute Deal With SpaceXAI SpaceX shares tumbled for a third straight session, down around 9% late in the U.S. cash morning, after the Elon Musk-led company said it would sell investment-grade bonds for the first time. However, a new headline crossed around 11:05 a.m. ET via Axios, reporting that Reflection, the Nvidia-backed open-source AI startup, had signed a major compute deal with […]

Repairs To Reflecting Pool Will Begin Immediately, Trump Says, Citing Vandalism Authored by Aldgra Fredly via The Epoch Times, President Donald Trump said on Sunday that work to repair the Lincoln Memorial Reflecting Pool in Washington will begin immediately after it was damaged by vandalism. The Lincoln Memorial Reflecting Pool is refilled after it was repaired and repainting as part of President Donald Trump’s “Make the […]

Chevron Lands 20-Year Deal To Power Microsoft’s AI Expansion Microsoft has signed a 20-year agreement with Chevron to power a massive new AI-focused data center campus in West Texas, underscoring the growing race among tech companies to secure reliable energy supplies, according to Bloomberg. The project, known as Project Kilby, is expected to begin generating power in 2028 and eventually reach 2.67 gigawatts—enough electricity […]

Diverging Markets And Converging Talks? By Teeuwe Mevissen, senior macro strategist at Rabobank Financial markets continue to navigate an increasingly complex macro landscape, defined by the interaction of geopolitical shocks, resurgent inflation pressures, and diverging central bank responses. The key theme remains the tension between resilient risk assets—particularly equities—and a more cautious signal emanating from fixed […]

Key Events This Week: Core PCE, Global PMIs, Micron Earnings And Fed Talk The main data highlights this week are the global flash PMIs tomorrow, and the US core PCE on Thursday. Elsewhere, other data of interest include the Ifo survey in Germany (Wednesday), Tokyo CPI in Japan (Friday), and CPI reports in Canada (today) and Australia (Wednesday). Also focus will be on the UK where Keir Starmer announced his resignation earlier today […]

Scottish Court Rules Against Biological Males Being Held In Women’s Prisons Authored by Jonathan Turley, There is a major ruling in Scotland where a court declared that it is generally unlawful to house a transgender biological male in a women’s prison. The decision follows the ruling of the top UK court that a woman is defined by her biological gender at birth. The timing is notable as we await a couple of transgender rulings […]

China Sanctions 10 US Defense, Rare Earth Firms, Restricts 46 From Govt Procurement Weeks After Pentagon Blacklist China said on Monday that it will add 10 American firms to its export control list, including two rare earth firms MP Materials and USA Rare Earth, while also restricting 46 US firms from government procurement, signalling it would respond to Washington’s recent expansion of a military blacklist, even amid a broader […]

Colombian Bonds, Stocks Rise As Trump-Backed “El Tigre” Defeats Socialist Rival Summary: Colombian Bonds, Stocks Rise as Right-Wing, Trump-Backed Espriella Wins Vote Trump-Backed “El Tigre” Wins Colombia Presidency As Socialist Era Ends Colombian Assets Rise After Trump-Backed Candidate Wins Presidential Election  Colombian-dollar bonds surged across the curve on Monday, led by notes due in 2054, as traders bet that right-wing […]

Getty Images Soars After Securing “Display Agreement” With OpenAI Getty Images shares jumped 141% in New York premarket trading after the company announced a “display agreement” with OpenAI. The timing could not have been better for Getty, whose stock had been languishing this year, down roughly 55% before the announcement. For a company in need of a sentiment boost, the new partnership with OpenAI, which allows Getty content to […]

Stocks Drift As Chips Extend Gains, Oil Slides On Positive US-Iran Talks Futures are modestly lower coming off the US holiday weekend, after equities finished higher last week with both Dow and Russell clocking new ATHs and SPX finishing in the green for the 11th time in the last 12 weeks.  As of 8:00am ET, S&P 500 futures edged down 0.1% while Nasdaq 100 contracts are higher by 0.1% with chips outperforming as usual while […]

Alan Greenspan, Longtime Fed Chair And “Maestro” Of Markets, Dies At 100 Alan Greenspan, the former Federal Reserve chairman who led the central bank from 1987 to 2006, under four presidents, died at 100 from complications of Parkinson’s disease, NBC News reported. Greenspan became known as the “maestro” of monetary policy, spanning one of the longest and strongest economic expansions in U.S. history, marked by booming stocks, […]

Ship Traffic Through Hormuz Chokepoint Continues As Normalization Efforts Remain “Fragile” U.S. and Iranian negotiators concluded a lengthy initial round of technical talks, backed by Qatar and Pakistan, with early progress reported. Still, the diplomatic road to a permanent peace deal remains fragile. For now, despite Tehran declaring on Sunday that the Strait was “closed,” millions of barrels of crude continue to exit the Persian […]

Russian Drone Strike Sets Turkish Cargo Ship Ablaze In Black Sea, Killing One An international cargo vessel traversing the Black Sea erupted in flames when it was struck by a Russian drone attack early Monday morning, killing one crew member. The Turkish-owned bulk carrier VICTRESS, which sails under a Panamanian flag, suffered severe damage, the Ukrainian Navy and the Ukrainian Sea Ports Authority (USPA) confirmed in the […]

Is The AI Spending Boom Creating A Depreciation Time Bomb? Via City AM, Big Tech’s AI spending has exploded, with Google, Microsoft, Amazon, and Meta collectively investing hundreds of billions of dollars in infrastructure. Rapid technological change may shorten the economic life of AI servers and GPUs, increasing depreciation and replacement costs. The long-term profitability of AI will depend not only on demand […]

Iran’s Araghchi Says Talks Delivered “Major Progress” To End Lebanon War, Will Continue For Rest Of Week Summary Round 1 ends: The US and Iran made “encouraging progress” in talks on a peace deal and will continue technical-level discussions this week, mediators Iran defiant, sees itself in strong position: Ghalibaf rejects US threats and links talks to a Lebanon ceasefire. Trump raises stakes via some typical Truth Social […]

UK Government Plans To Force Social Media Giants To Boost BBC Content To ‘Fight Disinformation’ Authored by Steve Watson via Modernity News, The UK government, under the apparently outgoing Prime Minister Keir Starmer, is advancing proposals that would require platforms like Facebook, YouTube and others to make BBC and other public service broadcaster content more prominent in users’ feeds. Officials frame the move as essential to […]