Wednesday Watch

Around X:

• @ElonMusk

• NEWS: Elon Musk's company, Neuralink, has now successfully implanted its brain chip into five humans. The patients can control a mouse using only their thoughts. Neuralink aims to implant its new brain chip, Blindsight, into a human patient for the first time in late 2025/early 2026, likely in the UAE. The device aims to restore sight to people who are completely blind. (video)

• @ZeroHedge

• David Sacks' Lieutenant Explains The Real Reason Why Trump's AI Deal With UAE Is A Yuge Win For America.
• *US DOJ INVESTIGATES CUOMO OVER TESTIMONY ABOUT PANDEMIC: NYT *DOJ OPENS PROBE OF ANDREW CUOMO OVER PANDEMIC TESTIMONY: NYT.
• Trump Unveils $175 Billion Plan For "Golden Dome" Missile Defense System.
• US Veteran Freed From Venezuelan Prison After Latest Trump Diplomacy With Maduro.
• Australia's Unrealized Gains Tax Will Be A Lesson In Economic Suicide.
• Experts Warn Trump's "Big Beautiful Bill" Could Codify Big Land Grabs.
• Israel Preparing Possible Preemptive Attack On Iranian Nuclear Facilities: US Intelligence.
• ZH Geopolitical Week Ahead: The Military-Industrial Complex & Trump's Big Beautiful Bill.
• Working Out Is Right Wing, And That's A Good Thing.   
• 'I'm Still A No': Battle Over SALT Holding Up 'Big, Beautiful Bill' As Trump Demands Progress.
• Trump going after the puppetmasters.
• Bitcoin & Bullion Jump, Tech Dumps, As 'Japanic' Attack Jolts Bonds.

• @MarioNawful

• ELON LOCKS VOWS FIVE MORE YEARS AT TESLA, ROBOTAXI ROLLOUT BEGINS IN JUNE. Elon isn’t going anywhere—which means we will see amazing things time come. At the Qatar Economic Forum, he confirmed Tesla's helm is his for at least five more years, brushing aside the Delaware pay dispute and reasserting his grip on the company’s future. Just hours later, he doubled down—Robotaxi service will launch in Austin this June with no human driver. This is Tesla’s moonshot moment.
• ELON: TESLA OWNERS WILL BE ABLE TO ADD THEIR CARS TO THE FLEET LIKE AIRBNB. "We'll have a model which is kind of like some combination of Uber and Airbnb. So if you're a Tesla owner, right, you'll be able to add or subtract your car to the fleet. Just like in Airbnb, you could rent out your spare bedroom or rent out your house when you're not using it." (video)
• SENATE PASSES NO TAX ON TIPS ACT IN UNANIMOUS MOVE BACKING TRUMP PROMISE. In a stunning display of bipartisan support, the Senate passed the No Tax on Tips Act without a single objection. The measure, originally introduced by
  @SenTedCruz and backed by Democrats like @SenJackyRosen, eliminates federal income taxes on tipped wages—one of Trump’s most populist campaign promises. Rosen dared Republicans to block it. None did. Chuck Schumer called it a win for “hardworking Americans.” The bill now heads to the House, where Speaker Mike Johnson aims to pass it within 24 hours. 
• ELON: LEGACY MEDIA PUSHES FALSE NARRATIVES. "What I've learned is that legacy media propaganda is very effective at making people believe things that aren't true — like that I'm a Nazi, for example. How many legacy media outlets, publications, talk shows — whatever — tried to claim I was a Nazi because of some random hand gesture at a rally where all I said was that my heart goes out to you, and I was talking about space travel." (video)
  

• @LauraLoomer

• Ashley Moody @SenAshleyMoody, the Former Florida Attorney General and current US Senator thanked HHS Secretary @RobertKennedyJr for vowing to shut down the illegal Chinese vape industry that is targeting children all across America. Did you know that 90 % of vapes are illegally imported from China, and Florida is No. 1 in the nation for illicit vape sales, while China has become the world’s leading producer of e-cigarettes? Biden didn’t do anything to punish China. Things are going to be changing under President Trump’s administration.
• EXCLUSIVE: Islamic JIHADIST who traveled to Pakistan to train in an Islamic terror camp and served a 20 year prison sentence in the US for Jihadi terrorist activities has now been listed as a member of the White House Advisory Board of Lay Leaders, Announced Today on the official White House website.
  

• @TheTranscript

• $NVDA CEO: "There’s a 100MW factory, based on Hoppers, you have 45,000 dyes, 1,400 racks, and it produces 300 million tokens per second. Then this is what it looks like with Blackwell — you have 86. "

Night Trading 

• Asian equity indices are -.25% to +.75% on average. 
• Asia Ex-Japan Investment Grade CDS Index 79.0 -.75 basis point. 
• China Sovereign CDS 52.5 +.25 basis point.
• China Iron Ore Spot 99.4 USD/Metric Tonne unch.
• Swiss Franc/Offshore Chinese Renminbi Cross 8.74 +.34%.
• Bloomberg Emerging Markets Currency Index 37.0 unch.
• Bloomberg Global Risk-On/Risk Off Index 71.4 -.4%.
• US 10-Year Yield 4.49% unch.
• Volatility Index(VIX) futures 19.5 -.1%.
• Euro Stoxx 50 futures +.11%. 
• S&P 500 futures -.10%. 
• NASDAQ 100 futures -.09%.

Morning Preview Links

BOTTOM LINE: Asian indices are mostly higher, boosted by industrial and technology shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed.  The Portfolio is 75% net long heading into the day.