Thursday, May 29, 2025

Friday Watch

Around X:

  • @ElonMusk
  • For the past several days, Tesla has been testing self-driving Model Y cars (no one in driver’s seat) on Austin public streets with no incidents. A month ahead of schedule. Next month, first self-delivery from factory to customer.
  • @ZeroHedge
  • @MarioNawful
  • NVIDIA + DELL + TRUMP = NEXT-LEVEL SUPERCOMPUTER. The government just hit “build” on a mega AI brain. Nvidia and Dell are teaming up with Trump’s crew to launch “Doudna.” This monster supercomputer is dropping in 2026. It’s basically Iron Man’s lab, but real, and at Berkeley Lab. It’s 10x faster than anything before, and it’s built to crack fusion energy, invent new meds, and mess with quantum stuff most people pretend to understand. Trump’s calling it a power move. Nvidia says it’s a "science time machine." Either way, it’s America going full nerd... on purpose. 
  • TAP, PAUSE, GOOGLE IT: YOUTUBE’S NEW POWER MOVE. YouTube’s adding Google Lens to Shorts, which means you can now pause a video and search anything you see—without leaving the app. Watching a clip in Paris and wondering what that fancy tower is? Tap it. Like someone’s shoes? Highlight them. Lens will give you instant answers right on top of the video. No ads (yet), and it won’t work on paid promos or shopping links—but everything else? Fair game. Basically, YouTube just made being nosey way easier. TikTok and Instagram? Still catching up. 
  • TRADE CZAR NAVARRO: “MAIN STREET GETS IT, WALL STREET DOESN’T”. "The emergency is $1.3 trillion a year going abroad, $18 trillion of American wealth so far transferred into foreign hands. Millions of jobs lost, hundreds of thousands of factories gone. That’s the emergency. Main Street understands this, Wall Street is in denial.". (video) 
  • PRESS SEC LEAVITT: “ACTIVIST JUDGES ARE SABOTAGING THE U.S.”. "Last night, the Trump administration faced another example of judicial overreach. 3 judges brazenly abused their judicial power to usurp the authority of Trump. The president’s rationale for imposing these powerful tariffs was legally sound and grounded in common sense." (video)
  • QUANTUM COMPUTING: THE NEXT TECH GOLD RUSH. Quantum computing (QC) is about to blow up the tech world. Think of it as AI on steroids—but here’s the kicker: the entire U.S. quantum sector is worth less than Dogecoin. Imagine buying Bitcoin at $500. That’s where QC is today. Regular computers process in 1s and 0s. QCs use qubits, which can be 1, 0, or both at the same time (superposition). Translation? They solve ridiculously complex problems insanely fast. 
  • AI COULD OUT-ENERGY BITCOIN BY YEAR’S END. Artificial intelligence isn’t just hungry for data; it’s power-thirsty too. New estimates say AI could burn more electricity than Bitcoin mining by the end of 2025, potentially guzzling as much energy as the UK. And that’s with efficiency gains, they are offset by increased usage (Jevons paradox). Why? Because big tech keeps chasing bigger models, bigger bragging rights, and building data centers that light up like small cities. Researchers are calling it the next energy crisis no one’s measuring. And AI isn’t cooling off: it’s just getting started.
  • @LauraLoomer 
  • @TheTranscript 
  • @RodDMartin
  • @AGPambondi
  • @DerrickEvans4WV
  • @WallStreetApes
  • @SecScottBessent
  • @KobeissiLetter 
  • @matt_vanswol
  • @catturd2
Night Trading 
  • Asian equity indices are -1.25% to -.25% on average. 
  • Asia Ex-Japan Investment Grade CDS Index 77.75 +.25 basis point. 
  • China Sovereign CDS 51.0 +.25 basis point.
  • China Iron Ore Spot 96.0 USD/Metric Tonne -.92%.
  • Swiss Franc/Offshore Chinese Renminbi Cross 8.73 -.04%.
  • Bloomberg Emerging Markets Currency Index 37.07 -.16%.
  • Bloomberg Global Risk-On/Risk Off Index 68.5 -1.0%.
  • US 10-Year Yield 4.42% unch.
  • Volatility Index(VIX) futures 20.2 +1.0%.
  • Euro Stoxx 50 futures -.15%. 
  • S&P 500 futures -.27%. 
  • NASDAQ 100 futures -.37%.
Morning Preview Links

BOTTOM LINE: Asian indices are mostly lower, weighed down by consumer discretionary and technology shares in the region. I expect US stocks to open modestly lower and to maintain losses into the afternoon.  The Portfolio is 75% net long heading into the day.

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