Around X:
- @Business
- The US and China have finalized a trade understanding reached last month in Geneva, US Commerce Secretary Howard Lutnick said.
- Billions of dollars in debt amid China’s property crisis and with no clear succession plan: New World Development, and the family behind it, are in turmoil.
- European Union leaders are discussing their response to President Donald Trump’s latest proposal on trade after a briefing from Ursula von der Leyen.
- Here’s the latest news and analysis on the oil market.
- Get up to speed on what's moving global markets.
- President Donald Trump is shifting his gaze back to matters at home — specifically his “One Big Beautiful Bill" — and probably not a moment too soon for Republicans in Congress.
- The Trump administration is asking consulting firms to justify their federal contracts as part of far-reaching efforts to reduce waste in federal spending.
- Target is preparing to introduce new technology to lock and unlock store shelves from a smartphone.
- The S&P 500 Index is on track to close at an all-time high on Thursday as tariff and geopolitical concerns dissipate — capping a stunning recovery that has added almost $10 trillion to US stocks.
- PayPal CEO Alex Chriss said adoption of stablecoins in the US still faces significant hurdles and will take time to achieve.
- The leader of UnitedHealth’s Optum Health care delivery unit has left the role, an early indication of management changes under Stephen Hemsley, UnitedHealth’s new CEO.
- AI Is Changing the Craft of Coding, for Better and Worse.
- Here’s your Evening Briefing.
- Here's what you need to know to start your day.
- @ZeroHedge
- "Train Wreck": Extreme Measures Being Taken To Battle Biden's 'Green' Energy Grid Crisis.
- Why Processed Foods May Be Secretly Raising Your Blood Pressure.
- The Legitimacy Of South Korea's Election Called Into Question.
- Goldman Sees Copper Peaking In August Amid Ex-US Supply Squeeze.
- More Fetal Losses Than Expected After Pfizer COVID-19 Vaccination In Israel: Study.
- *MACRON: IF US OPTS FOR 10% TARIFF, EU TO RESPOND WITH OWN LEVY.
- *VON DER LEYEN SAYS EU IS READY TO STRIKE TRADE DEAL WITH THE US. *VON DER LEYEN SAYS EU WILL BE PREPARED IF NO TRADE DEAL WITH US.
- Nasdaq’s golden cross, systematic flows, and Mag-7 muscle are torching the underexposed.
- Negotiators Confirm ‘Revenge Tax’ Measure Nixed From Tax Bill.
- Marketwide short squeeze steamrolling hedge funds again, with VIP less most shorted basket at 2025 lows.
- Feminists Are Begging For Men To Come Back But Still Blame Them For Everything.
- Homan Reveals ICE Rescuing Migrant Children Trafficked To Pedos Under Biden, Lives Apart From Wife Due To Death Threats.
- New Texas Law Prevents Land Sales To CCP Members.
- April Tariff 'Panicans' On Suicide Watch As S&P Closes Near Record High.
- @TheTranscript
- Nike CEO: "While our financial results are in-line with our expectations, they are not where we want them to be. Moving forward, we expect our business to improve..." $NKE: +1.2% AH.
- $MA CPO outlines Mastercard’s five competitive moats: data, global network, product breadth, customer relationships, and talent. "The first and foremost is data, which I'll come back to because that really is the kernel around which so much of our services business is built "
- @MarioNawful
- ACTBLUE OFFICIALS SUBPOENAED IN GOP FRAUD PROBE, DOJ LAUNCHES PARALLEL INVESTIGATION. ActBlue is under fire. House Republicans just subpoenaed top ActBlue officials over what they allege is “widespread” donation fraud. The DOJ, under Trump’s directive, is running its own probe in parallel. At the center: foreign IPs, prepaid cards, and nearly 2,000 flagged transactions. Internal docs show ActBlue skipped basic fraud checks during the 2024 cycle.
- @LauraLoomer
- When will we see the Trump admin designate the Muslim Brotherhood as a terrorist organization? @ZohranKMamdani is funded by the Muslim Brotherhood via Islamic PACs. He is a subscriber of Twelver Shia Islam, the same form of Islam the Ayatollahs in Iran subscribe to. You could literally bar Zohran from running for office and criminally charge him if you designate the Muslim Brotherhood as a terrorist org. He is backed by groups who were identified as being pro HAMAS and affiliates of the Muslim Brotherhood during the Holy Land Foundation terrorism trial. Why has this not happened?
- @amuse
- SPORTSBALL: ESPN producers reportedly told Rebecca Lobo she had to retract and apologize for her comment that America was Great during the WNBA's Fever/Aces game.
- @OcrazioCornPop
- CONGRESSIONAL SOURCE: J.D. Vance HAS the authority to overrule the Parliamentarian, which is an "advisory" role. This power hasn't been used in 50 years. Should @JDVance use his power to "ADVISE" this Swamp Relic to GET LOST?
- @ShabbosK
- I have been added to 9 different "stop Zohran Mamdani" group chats, so let me say this publicly: Mamdani only won 9% of the NYC electorate; most New Yorkers oppose his policies. Zohran Mamdani can be defeated in November. But it does require all hands on deck. Here's how: 1. Andrew Cuomo must drop out. 2. Curtis Sliwa must drop out. 3. Eric Adams, the only alternative, becomes the anti-socialist candidate.
- @RealJamesWoods
- @nicksortor
- WTF?! ALL of those involved in the Biden Autopen scandal are being “interviewed” by Congress BEHIND CLOSED DOORS. MAKE IT A PUBLIC HEARING! THE PEOPLE DESERVE TO KNOW!
- @RodDMartin
- MEDIA CAUGHT LYING (AGAIN): Pentagon Confirms Iran Didn’t Move Uranium Before U.S. Strikes. No uranium was moved. Fordow & other sites are “no longer operational”. It’ll take Iran years to rebuild, if ever. Let’s break this down. (thread)
- @TonySeruga
- GPS—puts Zohran Mamdani at Barack Hussein Obama II’s War Room twice in 6 weeks. Also present were leaders from the Muslim Brotherhood and what certainly appears to be two Iranian MOIS operatives, very likely IRGC Unit 840. Both are physically linked to Majid Dastjani Farahani, having meet Farahani in Venezuela in June 2024, with the timing, they very likely were discussing the ass@ssination of President Trump. These were the same operatives who were regularly is the company of fake federal agents with every agency from the Department of Homeland Security, to the U.S. Marshals, Arian Taherzadeh and Haider Ali. One was Pakistani intelligence while the other was Iranian. See the first comment below.
- @Liz_Churchill10
- Here’s Obama thanking ‘Puff Daddy’…just in case you’re wondering why Prosecutors are abandoning his Human Trafficking Charges. (video)
Night Trading
Morning Preview Links
BOTTOM LINE: Asian indices are mostly higher, boosted by industrial and financial shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.
- Asian equity indices are unch. to +1.0% on average.
- Asia Ex-Japan Investment Grade CDS Index 75.25 -1.25 basis points.
- China Sovereign CDS 50.75 -.5 basis point.
- China Iron Ore Spot 94.7 USD/Metric Tonne +1.4%.
- Polymarket: Another US military action against Iran by 6/30 2.0% unch.
- Polymarket: Will Iran Close the Straight of Hormuz in 2025? 17.0% unch.
- Swiss Franc/Offshore Chinese Renminbi Cross 8.95 +.02%.
- Bloomberg Emerging Markets Currency Index 37.08 -.08%.
- Bloomberg Global Risk-On/Risk Off Index 73.7 +1.8%.
- US 10-Year Yield 4.25% +1.0 basis point.
- Volatility Index(VIX) futures 18.8 -.6%.
- Euro Stoxx 50 futures +.51%.
- S&P 500 futures +.04%.
- NASDAQ 100 futures +.04%.
BOTTOM LINE: Asian indices are mostly higher, boosted by industrial and financial shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.
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