Bull Radar

Style Outperformer:

• Mid-Cap Growth +1.7%

Sector Outperformers:

• 1) Nuclear +5.4% 2) Gambling +3.6% 3) Airlines +3.1%

Stocks Rising on Unusual Volume:

• SATS, SBET, QUBT, ARQQ, URGN, CRCL, NNE, QSG, SYM, TSSI, CTLP, MP, OUST, AAOI, SMR, CLMT, FUTU, EL, AMD, CBRL, NN, LFMD, MGM, ROKU, CRDO, ELVN, ASTS, NBIS, DAR, BRBR, HIMS, ERJ, CYD, TTMI, CELH, FLR, PENN, BG, METC, AVBP, LTBR, CCL, CUK, BILI, CCJ, BKSY, TTAN, LEU, CCJ, UNFI, PSIX, DLO, METC, X, GIII, SOFI, ORLA, INCY, ADM, INCY, CXT, MLNK, BEKE, SAIL, KNF, FIHL, NU, OSCXR, VSCO, BWXT, HIPO, GLXY, OXM, PAHC, RBLX, JBL, GPN, HCSG, AKAM, DOGZ, VSAT and FARO

Stocks With Unusual Call Option Activity:

• 1) BEKE 2) ADM 3) IQ 4) SRPT 5) NXE

Stocks With Most Positive News Mentions:

• 1) SATS 2) FWRD 3) OKLO 4) AMD 5) WYNN

Sector ETFs With Most Positive Money Flow:

• 1) NFRA 2) IGV 3) XLY 4) XLC 5) SOXX

Charts:

• ETFs Rising on Unusual Volume
• Stocks Rising on Unusual Volume

Tomorrow's Earnings/Economic Releases of Note; Market Movers

Earnings of Note 
Company/Estimate 

Before the Open:

• (JBL)/2.31
• (WLY)/1.27

After the Close: 

•  (LZB)/.93

Economic Releases

8:30 am EST

• Retail Sales Advance MoM for May is estimated to fall -.6% versus a +.1% gain in April.
• Retail Sales Ex Autos and Gas for May is estimated to rise +.3% versus a +.2% gain in April.
• The Import Price Index MoM for May is estimated to fall -.2% versus a +.1% gain in April.
• The Import Price Index ex Petrol MoM for May is estimated to rise +.1% versus a +.4% gain in April.
• The Export Price Index MoM for May is estimated to fall -.2% versus a +.1% gain in April.
• NY Fed Services Business Activity Index for June. 

9:15 am EST

• Industrial Production MoM for May is estimated unch. versus unch. in April.
• Capacity Utilization for May is estimated at 77.7% versus 77.7% in April.
• Manufacturing Production for May is estimated to rise +.1% versus a -.4% decline in April. 

10:00 am EST

• Business Inventories for April is estimated unch. versus a +.1% gain in March.
• The NAHB Housing Market Index for June is estimated to rise to 36 versus 34 in May. 

Upcoming Splits

• None of note

Other Potential Market Movers

• The Atlanta Fed GDPNow Q2 update, weekly US retail sales reports, IEA monthly report, weekly API crude oil stock report, Wolfe Research Materials of the Future Conference, (MELI) annual meeting, (VRT) annual meeting, (IONQ) annual meeting, (AGX) annual meeting, (BIIB) annual meeting and the (GE) investor day could also impact global trading tomorrow.

US Equity Market Hours

• 9:30 am - 4:00 pm EST

Mid-Day Market Internals

NYSE Composite Index:

• Volume Running +6.3% Above 100-Day Average 
• Nasdaq/NYSE Volume Ratio 16.6 -20.9
• 3 Sectors Declining, 8 Sectors Rising
• 72.8% of Issues Advancing, 26.0% Declining 
• TRIN/Arms 1.29 +74.3%
  
• Non-Block Money Flow +$240.6M
  
• 77 New 52-Week Highs, 29 New Lows
• 43.7% (+5.2%) of Issues Above 200-day Moving Average
• Average 14-Day RSI 62.3 -3.9

Other:

• Bloomberg Global Risk-On/Risk-Off Index 70.9 +5.4%
• Bloomberg Cyclicals/Defensives Index 243.0 +.83%
  
• Morgan Stanley Growth vs Value Index 165.7 +1.1%
• CNN Fear & Greed Index 61.0 (GREED) -1.0
• 1-Day Vix 12.7 -41.3%
  
• Vix 19.3 -7.3%
  
• Total Put/Call .92 +3.4%

Monday Watch

Around X:

• @RealDonaldTrump

• President Trump Participates in the 250th Anniversary of the U.S. Army Grand Military Parade. (video)

• @Business 

• Israel and Iran bombarded each other for a third day, with international concern growing that the conflict will spread across one of the world’s key oil-producing regions.
• A series of strategic gambles by Israel and Iran are now playing out. The outcome stands to change the Middle East.
• Financial markets are set to reopen Monday with investors squarely focused on escalating geopolitical tensions as Israel and Iran continue to bombard each other with no sign of a pause.
• Israel’s air strikes on Iran, followed by the Islamic Republic’s retaliation, rippled through markets Friday, prompting traders to pile into options for protection.
• Japan’s once-slumbering bond market has roared back to life with a burst of volatility that is echoing around the world.
• The Bank of Japan is set to consider whether to taper its bond purchases at a slower pace while also leaving its benchmark interest rate unchanged.
• The US Export-Import Bank is considering providing up to $120 million for a rare earths project by Critical Metals in Greenland, Reuters reported Sunday, citing a letter of interest.
• Here’s the latest news and analysis on the oil market.
• Gold rose toward a record on Monday, as Israel signaled no letup in its campaign to destroy Iran’s nuclear capabilities.
• Few expect a rate cut from the Fed this week, so investors will focus on Chair Powell's press conference for guidance on what might come next. 
• Sarepta Therapeutics said a second patient has died of acute liver failure after being treated with its gene therapy for a rare muscle disorder.

• @Zerohedge 

• "Iran could produce its first quantity of 25kg of weapons grade uranium in Fordow in as little as two to three days".
• Tipping The Scales: Why So Many Cases Against Trump Are Heard By Democrat-Appointed Judges.
• Marc Andreessen's 'Cold War' Warning: U.S. Must Win AI Race To Prevent CCP Robot Overlords, Techno-Marxist Brainwashing.
• Trump Hints At 'Possible' US Entry Into War Amid Stepped-Up Israeli Daytime Attacks On Tehran.
• One year ago Polymarket was "only" the election hub. Since then it has become the go to event portal for finance and geopolitics and its rising traffic reflects that. (list)
• Trump: No More "Bullshit" Windmills.
• Hartnett: The Top 20 Charts For The 2020s.(graph)
• Old White Boomers By Day, Antifa By Night: 'No Kings' Color Revolution.
• Boelter is believed to have targeted Democrats who voted against healthcare for illegal aliens. He wrote a "manifesto" that Minnesota officials refuse to release to the public. Boelter was also appointed to a Workforce Development Board by Minnesota Governor Tim Walz.
• Irrational Bond Markets Offer A Great Opportunity. (graph)
• No Climate, No Gender: Canada’s G7 Summit Agenda Shows Shift In Priorities.
• Europe's Populist Parties Keeps Gaining Ground, But Cannot Get Into Power.
• The Heart Behind The US Army’s 250 Years Of Service.
• Sanctuary State Governors Double Down On Illegal Immigration In Tense Capitol Hearing.  
• Making The Power Grid Great Again.
• 'Make Money First, Make Sense Later' - Top Goldman Trader Lays Out What The Equity Market Is Discounting
  . 
• Can AI Improve Election Integrity?

• @WSJ

• Israel’s devastating attack on Iran has put the Islamic Republic in existential peril and exposed deep vulnerabilities in the intelligence services.
• The U.S. military is operating in the air, on land and at sea to shoot down Iranian missiles fired at Israel, tilting Washington toward more direct involvement in the widening conflict.
• Elite hedge funds are in a pitched battle for the world’s top traders. The price tag for a young stock picker can now top $100 million. 
• From @WSJopinion: As long as Chinese companies are putting backdoors and malware on American devices, state AGs can help protect consumers.

• @GatewayPundit

• War Pig Lindsey Graham Demands US Dive Headfirst into Israel’s War, Pushes for Regime Change — ‘Help Finish the Job’. 
• Scientists in Antarctica Puzzled as They Discover Mysterious Radio Waves Coming From Below the Ice Sheet.
• WW3 WATCH: Britain Announces Military Build-Up in Middle East as Iranian Conflict Escalates. 
• Joe Rogan Reveals Two Former U.S. Presidents Pressured Spotify to Censor His Views on COVID.
• North Carolina State Rep Waves Trump’s Decaptitated Head at ‘No Kings’ Protest: ‘Some Cuts May Be Necessary’.
• Minnesota Gunman Vance Boelter’s Wife Detained for Questioning After Traffic Stop Uncovers Gun, Ammo, Cash, and Multiple Passports: Report. 
• EXPOSED: Shanghai Billionaire’s Chinese Communist Party Network Fuels America’s Anti-ICE Riots.

• @FoxNews 

• President @realDonaldTrump on Iran-Israel: "I hope there's going to be a deal." (video)
• Sen. Rand Paul said that he's not an 'absolute no' on Trump's 'One Big Beautiful Bill' and revealed what it would take for him to vote on the legislation. 
• Emergency responders search for people in need after an Iranian attack against a city in Northern Israel.
• @HumaAbedin, longtime @HillaryClinton aide and ex-wife of disgraced ex-Congressman Anthony Weiner, just married @AlexanderSoros — son of billionaire and mega Democrat funder @georgesoros — in a star-studded Hamptons wedding attended by top Dems from Hillary to Harris.

• @MarioNawful

• IRANIAN MISSILE HITS APARTMENT BUILDING IN ISRAEL. A residential tower in central Israel has taken heavy damage after a direct ballistic missile hit. The strike, launched from Iran, tore into the building in Petah Tikva, leaving debris scattered across the area. (video)
• SOMETHING’S UP: U.S. AIR FORCE TANKERS HEADING TOWARD EUROPE!? If you looked up today and saw a swarm of massive Air Force planes - you’re not imagining things. A large number of U.S. aerial refueling tankers - essentially flying gas stations - just took off from bases across the country and appear to be en route to Europe. Whatever’s coming, it doesn’t look small. You don’t launch this many tankers unless you’re preparing to keep a lot of jets in the air. (map)
• IRANIAN MISSILES STRIKE ISRAELI POWER PLANT AND CIVILIAN AREAS. Fires and debris now fill the streets of central Israel as emergency crews rush to impacted zones. The IDF has confirmed multiple missile strikes in the latest barrage, including direct hits in civilian areas of Tel Aviv. In the north, a major power facility in Haifa sustained a direct hit, raising serious concerns over critical infrastructure. (video)
• TRUMP: U.S. WILL SECURE GREAT TRADE DEALS. "We have our great deals. All we have to is send a letter: this is what you're going to have to pay. But I think we'll have a few new trade deals, yeah." (video)
• EARTHQUAKE HITS NEAR IRAN’S FORDOW SITE. A magnitude 2.5 quake struck Qom Province just as Israeli strikes were reported in the area. The tremor occurred near the Fordow nuclear facility but was deep enough to suggest natural origins. Still, the timing raises eyebrows as tensions - and explosions - shake northern Iran.
• BREAKING: AFGHANISTAN THREATENS U.S. IF IT ENTERS WAR WITH IRAN. Afghanistan has issued a stark warning: if the U.S. joins military action against Iran, “we will take actions as well.” It’s a direct threat from a country with 2 decades of battlefield experience against American forces. What was once a regional conflict is now drawing in old enemies with long memories.
• PANIC IN IRAN: TEHRAN RESIDENTS JAM HIGHWAYS TO ESCAPE ADDITIONAL AIRSTRIKE. The capital of Iran is in full-blown panic mode. Massive traffic jams stretch for miles as residents flee the city, terrified of another Israeli air force attack. This comes after recent strikes have rattled nerves and sparked a wave of fear across the country. Cars are crawling out of the city like it’s the end of the world - or at least the start of another one.

• @LauraLoomer   

• NEW THREAD: STATE DEPARTMENT VETTING CRISIS CONTINUES. OBAMA HOLDOVERS WHO PARTICIPATED IN THE CONSTRUCTION OF THE JCPOA (otherwise known as the Iran Nuclear Deal) STILL EMPLOYED AT US STATE DEPARTMENT WHERE THEY ARE ADVISING ON IRAN NEGOTIATIONS IN THE NEW TRUMP ADMINISTRATION.

• @KobeissiLetter

• BREAKING: Iran's Foreign Minister says Iran will halt its strikes on Israel if Israel ceases its strikes on Iran. Just hours ago, President Trump said "we can easily get a deal done between Iran and Israel."

• @WallStreetApes

• George Soros funded the Los Angeles ICE riots. - He funded the No Kings Protest. - He funded the anti- Elon Musk protests to stop DOGE. "George Soros honestly is misanthropic. He claims to be doing good but actually he is tearing down the fabric of society." Elon Musk says George Soros is responsible for destabilizing our cities, “How can we be the most powerful country in the world, and it's not safe to walk around our cities? What the hell is going on? — Soros”. (video)

• @DerrickEvans4WV

• LA protesters tearing down historic statutes: (video)

• @BrilynHollyhand

• BREAKING: Over 56% of young white liberal women (ages 18–29) have been diagnosed with a mental health condition, per Pew. This isn’t just a meme anymore. It's data.

• @DC_Draino

• The Minnesota assassin was not only wearing a police officer uniform with taser and vest, but they also had an SUV with police lights that looked like a squad car. This was a professional hit job. (video)

• @nicksortor

• #BREAKING: President Trump just announced he is EXPANDING ICE RAIDS in “Democrat Power Centers” like Los Angeles, New York, and Chicago “These cities use illegals aliens to expand their voter base and CHEAT in elections,” Trump said. (pic)
• JUST IN: Minnesota officials have one again REFUSED to release assassin Vance Boelter’s manifesto, saying there’s not enough “there”. THEN JUST RELEASE IT! Let the PEOPLE decide! 

• @GeneralFlynn

• ATTENTION! I’ve been in the intelligence game long enough to know a psy-op when I see one. The “No Kings” protests aren’t spontaneous. They’re part of a broader strategy to undermine President Trump’s administration. The NGOs involved, Indivisible, CHIRLA, Unión del Barrio, and others, are part of a network of nearly 200 organizations, many of which have ties to the Democratic Party’s activist wing. The FBI’s even sniffing around, with Director Kash Patel probing the funding behind recent anti-ICE riots in LA. Why? Because when protests turn into looting and arson, it’s not about free speech, it’s about intent to destabilize.

• @bennyjohnson

• The suspected Minnesota shooter, appointed by Tim Walz, went from General Manager at 7-Eleven to CEO of an international NGO called “Red Lion Group” in Congo. There’s almost no public info on the NGO, except that it reportedly ran out of funding. USAID funded?

• @ElectionWiz

• BREAKING: riot underway in Los Angeles. (video)]
• BREAKING — Israel officially requests the US join ongoing war against Iran. (video) 

• @EricLDaugh

• BREAKING: A Massachusetts federal judge just BLOCKED enforcement of President Trump's executive order requiring citizenship for federal elections. THIS IS UNREAL. A judge is now trying to let NONCITIZENS vote in elections. Judge Denise Casper, an OBAMA judge.

• @DataRepublican

• Vance Boelter, the suspect in today's shootings, was the CEO of an international NGO called the Red Lion Group. But I couldn't find any photographs or digital records of its work, only a generic website. The Red Lion Group appears to have run out of funding a month or two ago, as that is when he started looking for executive-level roles.

• @toolandtea

• NVIDIA just showed what the future of AI looks like at GTC Paris. Here’s the top 7 wildest stuff they announced. 1/ NVIDIA’s new NVL72 system connects 72 Blackwell GPUs with 130 TB/s bandwidth. (video)

Night Trading

• Asian indices are -.25% to +.75% on average.
• Asia Ex-Japan Investment Grade CDS Index 75.5 -.5 basis point.
  
• China Sovereign CDS 46.75 -1.25 basis points.
• China Iron Ore Spot 94.3 USD/Metric Tonne +.2%.
• Swiss Franc/Offshore Chinese Renminbi Cross 8.86 -.04% 
  
• Bloomberg Emerging Markets Currency Index 37.0 -.05%.
• Bloomberg Global Risk-On/Risk Off Index 67.9 +.9%.
• US 10-Year Yield 4.41% +1.0 basis point.
  
• Volatility Index(VIX) futures 21.1 -3.2%. 
• Euro Stoxx 50 futures -.23%.
• S&P 500 futures +.14%.
• NASDAQ 100 futures +.19%.

Morning Preview Links

BOTTOM LINE: Asian indices are mostly higher, boosted by commodity and industrial shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing modestly lower. The Portfolio is 25% net long heading into the week.

Today's Headlines

Around X:

• @Business

• Iran fired hundreds of ballistic missiles at Israel in response to an unprecedented attack on its nuclear facilities, escalating a conflict that threatens to engulf the Middle East. 
• Israel’s airstrikes damaged Iran’s nuclear program but likely fell well short of eliminating it, experts said. 
• As global ad budgets tighten, more brands are turning to influencers to get the public's attention.
• Nuclear talks between Iran and the US scheduled for Sunday in Oman will not take place, Omani Foreign Minister Badr Albusaidi said in a post on X.
• What happened to the global economy this week — in charts. 

• @Zerohedge 

• Trump statement on Minnesota shootings.
• Fire at Bushehr gas refinery after Israeli drone strike. (video)
• *TAIWAN IMPOSES TECHNOLOGY EXPORT CONTROLS ON HUAWEI, SMIC.
• *ISRAEL HITS IRAN SOUTH PARS GAS FIELD; PHASE 14 ON FIRE: FARS.
• China Joins Russia In Condemning Israel's Attacks On Iran.
• Israel Proclaims Total Air Superiority Over Iranian Capital Area As War Intensifies.
• 7 Issues On The G7 Agenda: The Big Topics Albanese And Trump Could Discuss.
• House Republicans Probe China-Based Billionaire Allegedly Bankrolling Anti-ICE Riots.
• Race-Based Policies Inevitably Produce Inter-Ethnic Animosity.
• 2025 Bilderberg Meeting Attendees Revealed: Global Elites Convene In Secret Amid Global Chaos.
• And So It Begins: Leftist Monkey Wrenching Is Leading To Civil War.
• These Are The 50 Richest Countries By GDP Per Capita.
• Early COVID-19 Vaccine Patent In China Raises New Questions For U.S. Investigators. 

• @LauraLoomer

• BREAKING: I'm told by a police source in Minnesota the suspect in the shootings of MN state lawmakers is Vance Luther Boelter. It appears it is the same Boelter who was appointed to the Governor’s Workforce Development Board in 2019 by Gov. Tim Walz. He appointed to the Governor's Workforce Development Council in 2016 by then-Gov. Mark Dayton. Tim Walz @Tim_Walz wasn’t joking when he said he’s friends with school shooters.
• The Democrats have been promoting the “No Kings” protests all week and some have even spoken at prior NO KINGS rallies. The shooter who assassinated the Minnesota lawmaker today had No Kings flyers in his car. Democrat domestic terrorism.
• BREAKING NEWS! Hours before the Marxists kick off their No Kings riots, two Democrats in Minnesota were shot. Sen. John Hoffman and Rep. Melissa Hortman, as well as their spouses, were shot. Hortman recently supported repealing healthcare benefits for illegal aliens. The suspect was impersonating a police officer before shooting them, according to police. 

• BarronsOnline

• Had bullish commentary on (SHW) and (SCHW).

• @IGSquawk 

• Weekend markets update: #DAX 23341 -0.35% #DOW 42004 -0.33% #NASDAQ 21566 -0.34% #FTSE 8820 -0.15% #HANGSENG 23745 -0.22% #GBPUSD 13572 -0.02% #EURUSD 11550 -0.01% #USDJPY 14408 -0.02% #GOLD 3456 +0.69% #OIL 7465 +3.92%.

• @WSJ

• Shifting political winds have American corporations taking a new tack with diversity goals they once broadcast.
• People in Tel Aviv spent the night running to bomb shelters as Iran rained down hundreds of missiles on the city.
• From @WSJopinion: For too many weary Americans, it continues to feel as if protest is all the left’s got. The foot-stomping is unaccompanied by serious plans, writes @KimStrassel.  
• Alberta’s secessionists are gaining ground, contesting Prime Minister Mark Carney’s desire to project national unity at the Group of Seven summit.
• Elon Musk’s pivot to robots isn’t just shifting Tesla’s business model—it is changing its DNA, columnist Tim Higgins writes.

• @CNBC

• Goldman Sachs says buy these five stocks that are set to rally.
• Nvidia-mania took over Europe this week. Here's what I learned from Jensen Huang.

• @Osint613

• JUST IN. Israeli fighter jets are currently striking the “Imam Hussein” camp in Kermanshah, a key IRGC base used for training and missile operations. (video)
• BREAKING. Israel warns Iran: Any attack on civilian areas will trigger strikes on strategic infrastructure. (AKA regime collapse)
• Israeli forces have reportedly targeted Iran’s South Pars Phase 14 refinery, one of the largest natural gas extraction sites in the world. (video)
• IAEA: Four critical structures at the Isfahan nuclear site were damaged in yesterday's attack, including the uranium enrichment facility and the fuel rod production plant. As in the case of Natanz, there was no increase in radiation levels outside the site. 
• Netanyahu: “We have indications that senior leaders in Iran are packing their bags” and preparing to flee. (video)

• @FoxNews 

• “The very people warning us against authoritarianism are deploying authoritarian tactics to choreograph outrage.”@AsraNomani packs a punch by flipping the script on the liberals protestors’ own messaging, accusing them of doing exactly what they claim to oppose.
• On the @ USArmy’s 250th birthday, @SecDef credits @realDonaldTrump’s leadership for restoring pride in our military: “Americans want to join and we’re raising the standards, we’re making them equal, we’re getting all the political correct garbage out of our ranks. (video)
• Today is the U.S. Army’s 250th birthday — and the historic Drummond V Corps just marched through with fifers in full colonial drip on @foxandfriends Weekend. Watch the celebration live starting at 6:30pm on http://FOXNews.com. (video)

• @GatewayPundit 

• GENERAL FLYNN: Update on the Volatile Military Situation in Middle East – “Trust Me, Iran Is In Big Trouble”.
• Stephen Miller: ‘Illegals Who Fail to Register with the Government, As Required by Law, Will be Criminally Prosecuted’.
• Why Conservatives Celebrate the End of Biden’s Weaponized ‘Anti-Terrorism’ Programs.
• INSURRECTION IN PLAIN SIGHT: The Left’s Orchestrated “No Kings” Riots Are a Marxist Revolution—And GOP Leadership Is Letting It Happen.
• Chicago Mayor Brandon Johnson Says Deportations a ‘War on Our Humanity’ — Then Calls ICE Agents a ‘Disease’.
• Fired ABC Hack Terry Moran Admits He is Liberal Activist — Pledges to Fight Trump During This ‘Dark Time’.

• @WallStreetApes

• Shared is the full list of the “No Kings Protest” organizers. Here are the main funders and organizers: (video)
• Hungarian Government releasing a documentary on how Democrats funneled money through USAID to George Soros “to promote Democrat agendas such as illegal migration, transgenders and war stances”. (video)
• This is serious. The FDA just approved a new vaccine for infants. The vaccine has “Serious adverse events affect up to 5.3% of participants — includes death, hospitalization, or something that can make you have a permanent disability”. The vaccine is called Menquadfi vaccine cleared for infants as young as 6 weeks old for meningococcal disease. (video)
• Mike Benz brings the recipes and documents showing US Government uses our tax dollars to protect George Soros. George Soros works side by side with the US State Department and even our intelligence agencies (CIA) to funnel money to his NGOs. Additional CIA involvement with George Soros example: (video)

• @BGatesIsaPsycho

• Britain to finally launch inquiry into R@pe Gang Scandal. Keir Starmer & Labour fought for months to prevent it but have caved to on-going pressure. We all know why - how many Labour Politicians will be implemented I wonder? 
• Wow - Old German TV Report from 2007 showing plans back then to ‘Dim The Sun’ via Stratospheric Aerosol Injection. 18 years later & it’s happening everywhere - how do we know? Well you can see it - just look up. (video)
• “Today Chronic disease in our children is up 60% - The US Tax Payer is funding this”. “The exposure is coming from chemical additives in our food” “Food is medicine” RFK Jnr vows to make American Kids healthier again - for too long processed foods have been saturated with too many toxic chemicals. (video)

• @VigilantFox

• NEW: Bill Maher says Gavin Newsom is BEGGING for a mug shot—just to play hero against Trump. (video)

• @KobeissiLetter

• It's Wall Street vs Main Street: Professional investors sold $4.2 billion in US equities last week, according to Bank of America. Over the last 4 weeks, institutional selling reached $2.0 billion per week on average. On the other hand, retail investors bought $700 million last week, bringing the 4-week average of purchases to $400 billion. Over the last 12 weeks, individual investors have purchased $1.6 billion in US stocks on average each week. As the market rebounded, professional investors dumped stocks while retail bought. The sentiment gap between institutional and retail investors is historic. (graph)
• The labor market is softening: Initial jobless claims came at 248,000 for the week ending June 7th, the highest reading since October 2024. The highest number of claims were reported in California, Minnesota, and Pennsylvania. As a result, the 4-week moving average rose to 240,250, the highest since August 2023. Meanwhile, the number of people receiving jobless benefits soared to 1.96 million, the highest since November 2021. Excluding 2020 and the 2021 recovery, this was the highest reading since February 2018. The labor market is clearly weakening. (graph)
• BREAKING: Oil prices are now expected to rise to a high of $94.10 this year as Israel strikes Iranian energy facilities, per @Kalshi. Inflation is likely to rebound sharply as a result. (graph)

• @Wideawake_media

• "Between 2021 and 2023, Antarctica gained over 100 billion tonnes of ice every year... Earth has become 5% greener since the early 2000s." "Meanwhile, in 2024, global CO₂ emissions hit all-time highs... So, record emissions, yet more ice and more greenery." "If the ice were disappearing and the planet were browning, you'd never stop hearing about it. But because the facts don't fit the narrative, you hear crickets." (video)

Evening Headlines

Around X:

• @Business

• Prime Minister Benjamin Netanyahu addressed the people of Iran directly after an early morning military strike. He warned "more is on the way".
• Iran’s Supreme Leader Ayatollah Ali Khamenei vowed to “act forcefully” and avenge an Israeli military strike on his country that’s so far killed his most senior generals and targeted key nuclear sites. 
• Iran fired hundreds of ballistic missiles in retaliation for Israel’s airstrikes: Here’s your Evening Briefing.
• Tensions boiling over in the Middle East sent shares of energy and oil companies higher. Get a roundup of the week's biggest gainers and decliners with the latest edition of Stock Movers.
• It’s the kind of geopolitical flashpoint that might once have triggered a full-blown market meltdown: Israeli warplanes struck Iranian nuclear sites, Tehran vowed revenge — then followed through. Oil spiked.
• A report that large multinational merchants are exploring ways to bypass traditional credit-card fees presents investors with an opportunity to buy shares of Mastercard and Visa, according to Wall Street analysts.
• An experimental weight-loss drug from Lilly helped patients lose weight with few side effects, according to the summary of a small study that suggests the company has another foothold in the obesity market. 
• Hedge funds took the most bullish stance on US crude since January in the week before Israel launched strikes against Iran’s nuclear program, putting them in a position to profit from this week’s jump in oil prices. 

• @Zerohedge 

• Texas Prepares For Weekend Protests With National Guard Deployment.
• Vitamin D May Help Slow Cellular Aging, Study Finds.
• Ex-Clinton aide Huma Abedin to marry financier scion Alex Soros at glamorous Hamptons wedding attended by lefty power players.
• Smells Like Bureaucratic Overreach: FDA Greenlights Lab-Grown Salmon.
• The U.S. assisted Israel in defending against Iran’s attack, a U.S. official said. In the hours leading up to Iran's response to Israel's attack, U.S. fighter jets mobilized around the region. U.S. ground-based interceptors also helped defend Israel, U.S. officials said.
• Dark-Money Network Funneled Millions Into 'No Kings' Nationwide Color Revolution Operation.
• Major Iranian Missile Impacts On Israel; IAEA Warns Radioactive Contamination Observed At Natanz.
• Virtually all of Iran's oil exports go to China. (graph)
• Until further notice , No Ship Is Allowed To Cross The Strait Of Hormuz!  
• The U.S. Army is assisting in shooting down incoming Iranian missiles with Patriot Pac-3 missiles and with Thaad, officials tell Fox's.  
• Gold Closes At Record High, Oil Soars As Retail Buys WW3 Dip In Stocks...& Loses.

• @MarioNawful

• BREAKING: U.S. MARINES DETAIN CIVILIAN IN LOS ANGELES, FIRST CONFIRMED ACTION. U.S. Marines deployed to Los Angeles have carried out the first known detention of a civilian during federal building security operations. The incident took place at the Wilshire Federal Building, where Marines apprehended and temporarily restrained a man before handing him over to Homeland Security. The military stated detentions are permitted in specific cases involving threats to federal personnel or property and must be transferred to civilian law enforcement immediately.
• BREAKING: IRANIAN STRIKE DEALS HEAVY DAMAGE TO ISRAELI MILITARY HQ. Significant damage has been reported at Israel’s central military command center following an Iranian missile strike. Emergency teams are on site checking for casualties, though senior personnel were likely in underground bunkers during the impact. The strike highlights Iran’s focus on strategic, high- level military targets amid the ongoing escalation.
• ICE AGENTS RUSH CROWD WITH TAZERS AT DETENTION CENTER. ICE agents charged protesters outside Delaney Hall in Newark after they shook the gates and blocked cars during a high voltage standoff. The crowd surged, fists up, shouting down federal vans, then agents moved in. Tasers drawn. (video)
• IRANIAN AIR FORCE HANGARS ON FIRE AT MEHRABAD AIRPORT IN TEHRAN. Massive flames are reportedly ripping through hangars used by Iran’s Air Force at Tehran’s Mehrabad International Airport. These aren't empty shells, this base houses squadrons that fly both the MiG-29 and the U.S.-built F-14 Tomcat.
• TIM WALZ: MAYBE CHINA IS THE MORAL AUTHORITY, NOT THE U.S.
• UNCONFIRMED REPORTS OF IRAN CLOSING HORMUZ STRAIT: WHY EXPERTS SAY IT'S IMPOSSIBLE. Unconfirmed reports claim Iran has closed the Strait of Hormuz following Israeli strikes, but experts say it's both unlikely and physically impossible for Tehran to block the waterway where 20 million barrels of oil flow daily. Anas Alhajji, Energy Outlook Advisors:  
• IRAN: ANY COUNTRY DEFENDING ISRAEL "WILL SEE ITS BASES BECOME TARGETS". A senior Iranian official just threatened to attack U.S. and allied military bases across the Middle East if they continue helping Israel intercept missiles. Iranian official to CNN:
• BREAKING: IRAN STRIKES ISRAEL’S MILITARY HQ. Iran has struck The Kirya compound in Tel Aviv, Israel’s central military headquarters and equivalent to the U.S. Pentagon.