Good morning. Happy Friday.
The Asian/Pacific markets were mixed. Japan, China, and Australia did well. Hong Kong, Indonesia, Singapore, Thailand were weak. Europe, Africa and the Middle East are currently very quiet. France, Portugal, Austria, and the Czech Republic are up. Several markets are closed. Futures in the States point to a positive opens for the S&P and small caps and a down open for the Nasdaq.
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The dollar is down. Oil and copper are down. Gold is up; silver is down. Bonds are down. Bitcoin is up.
Stories/News from Seeking Alpha…
High stakes
Donald Trump and Vladimir Putin are set to meet face-to-face in Alaska this morning, marking the first top-level U.S. meeting with Russia since the full-scale invasion of Ukraine. At the high-stakes summit, Trump is hoping to broker a potential agreement that could pave the way for peace in Ukraine.
Setting the stage: Trump said the meeting would be “like a chess game,” saying there’s a 25% chance that the summit won’t be successful. He said the talks were aimed at “setting the table” for a follow-up meeting that would include Ukraine’s Volodymyr Zelenskyy, but warned of “severe consequences” if Putin does not agree to stop the war. Ukraine and European allies had been worried that the meeting would yield unfavorable terms for Kyiv, but Trump affirmed that he wouldn’t negotiate territorial issues with Putin.
View from Moscow: Ahead of the summit, Putin praised the Trump administration’s “energetic and sincere efforts to stop the hostilities and reach agreements that are of interest to all parties involved in this conflict.” While Ukraine will take center stage at the meeting, Trump and Putin will also discuss boosting bilateral trade and economic cooperation. “I would like to note that this cooperation has huge, and unfortunately hitherto untapped, potential,” Putin’s aide Yuri Ushakov said.
SA commentary: “A breakthrough toward peace would likely boost European and Russian equities, lower energy prices, and cool defense stocks,” SA analyst APAC Investment News noted. “If negotiations fail, heightened tensions could drive up defense and energy stocks, depress global markets, and increase volatility, especially if the U.S. re-engages or withdraws support for Ukraine.”
What else is happening…
Wholesale inflation rises by the most since March 2022.
Intel (INTC) spikes on report of U.S. mulling stake in firm.
Applied Materials (AMAT) warns of uncertainties in China.
CoreWeave (CRWV) bankers test market for block sales.
Trump order seeks to bolster stockpile of drug ingredients.
Fintech, crypto CEOs fight against banks’ data access fees.
13F wrap: Latest investments by Buffett, Ackman and Soros.
Cathie Wood bets big on Bullish (BLSH), buys 2.5M shares.
BofA sees OPEC+ surplus pushing Brent below $60 in H2.
Asia tracker: Japan sees strong GDP, China’s economy slows.
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Good morning. Happy Thursday.
The Asian/Pacific markets were mixed, with a lean to the downside. Australia and New Zealand did well; Japan, China, Thailand, and the Philippines were weak. Europe, Africa and the Middle East are currently doing well. France, Germany, Spain, Italy, Israel, Austria, and Sweden are up; Poland is down. Futures in the States point to a moderate gap down open for the cash market.
————— VIDEO: Trade Examples – Stocks Coming out of Bases —————
The dollar is unchanged. Oil is up; copper is down. Gold and silver are down. Bonds are up. Bitcoin is down.
Stories/News from Seeking Alpha…
Less red tape
President Donald Trump has signed an executive order to ease regulations for commercial spaceflights, in a major win for the industry that has long called for cutting red tape. The White House said the order was aimed at enabling a competitive launch marketplace, and ramping up launches and novel space activities by 2030.
Streamlining rules: “Inefficient permitting processes discourage investment and innovation, limiting the ability of U.S. companies to lead in global space markets,” the White House said. The executive order directs the transportation secretary to eliminate or expedite environmental reviews for launch and reentry licenses and permits. The order calls for the elimination of “outdated or overly restrictive rules” and the evaluation of whether states are hindering spaceport infrastructure development, among other directives.
Industry win: “With these actions, it is clear that President Trump is serious about maintaining U.S. dominance in space in the face of growing international competition, especially from China,” said Dave Cavossa, president of trade group Commercial Space Federation. To note, the U.S. and China are the only two countries to have independent space forces. The space industry – including Elon Musk, SpaceX (SPACE) CEO and Trump’s on-again, off-again ally – had long criticized regulatory barriers slowing down space operations.
Companies to watch: SpaceX stands to gain the most from Trump’s executive order, as it is currently the leading space company for launches. Other notable space companies include Jeff Bezos’ Blue Origin (BORGN), Virgin Galactic (SPCE), Rocket Lab (RKLB), Firefly Aerospace (FLY), and United Launch Alliance [a joint venture between Lockheed Martin (LMT) and Boeing (BA)].
What else is happening…
Amazon takes on traditional grocers with latest delivery expansion.
Google (GOOG) to invest $9B on AI infrastructure in Oklahoma.
Apple (AAPL) plans to release slate of new AI-powered devices.
DeepSeek delays new model launch after Huawei chip setback.
Crypto exchange Bullish (BLSH) surges 84% in trading debut.
These analysts are increasingly bullish on ether (ETH-USD).
Fed speak: Bostic on labor market, Goolsbee on tariff impact.
Two Pentagon projects set to be axed, risking costly do-over.
Bessent warned by federal ethics office over financial assets.
Tariff impact: India, China step up efforts to rebuild trade ties.
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Good morning. Happy Wednesday.
The Asian/Pacific markets did great. Japan, China, Hong Kong, South Korea, Taiwan, Malaysia, Indonesia, Singapore, and Thailand all posted big gains. Australia was weak. Europe, Africa and the Middle East currently lean to the upside. France, Germany, South Africa, Spain, Italy, and Israel are up; Poland is down. Futures in the States point to a positive open for the cash market.
————— VIDEO: Trade Examples – Stocks Coming out of Bases —————
The dollar is down. Oil and copper are down. Gold and silver are up. Bonds are up. Bitcoin is up.
Stories/News from Seeking Alpha…
Multi-layered defense
Details of the Trump administration’s ambitious Golden Dome plan are starting to come to light, with defense contractors eager to grab a piece of the action. The proposed defense shield will reportedly consist of four integrated layers, one space-based and three on land, and 11 short-range missile batteries.
Dig deeper: The details, as reported by Reuters, were included in U.S. government presentation titled “Go Fast, Think Big!” that was shown to 3,000 contractors at an event in Alabama last week. The Golden Dome’s space-based sensing and targeting layer would be for missile warning and tracking as well as missile defense. The other three layers would be land-based, consisting of missile interceptors, radar arrays, and potentially lasers.
The presentation mentioned a new large missile field, possibly in the Midwest, for Next Generation Interceptors made by Lockheed Martin (LMT). The new proposed site would be part of the Golden Dome’s “upper layer,” alongside Terminal High Altitude Area Defense (THAAD) Aegis systems made by Lockheed. The last lines of defense – the “under layer” and “Limited Area Defense” – would include new radars, current systems like the Patriot, and a new “common” interceptor launcher.
Looking ahead: President Donald Trump wants the Golden Dome to be operational by January 2029, although critics are skeptical of the timeline given the project’s scale. The project draws inspiration from Israel’s Iron Dome, but would be significantly bigger given the geography it would need to cover. It remains unclear how many launchers, interceptors, and ground stations would be needed for the system. The Trump administration said the project would likely cost $175B, but the Congressional Budget Office said the price tag could go up to $542B.
What else is happening…
Data check: Core CPI picks up pace, U.S. budget deficit swells.
Trump bashes Fed’s Powell, slams Goldman (GS) over tariff call.
Perplexity AI makes bold $34.5B bid for Google (GOOG) Chrome.
Anthropic offering AI service Claude to U.S. government for $1.
Tesla (TSLA) reassigns Dojo engineers to FSD, AI5 development.
Bessent rules out China investment in U.S. as part of trade deal.
Biden-era statement on alternative assets in 401(k)s rescinded.
CAVA slides as comp sales disappoint; restaurant peers dip.
Venezuela rejects Exxon (XOM) operations in disputed area.
China Evergrande to delist shares from Hong Kong bourse.
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Good morning. Happy Tuesday.
The Asian/Pacific markets leaned to the upside. Japan, China, Hong Kong, Indonesia, and the Philippines did well; India and New Zealand were weak. Europe, Africa and the Middle East currently lean to the upside. Poland, France, South Africa, Italy, and Sweden are up; Turkey and Israel are down. Futures in the States point to a moderate gap up open for the cash market.
————— VIDEO: Earnings are Wrecking Havoc on the Charts —————
The dollar is down. Oil is down; copper is up. Gold and silver are down. Bonds are up. Bitcoin is up.
Stories/News from Seeking Alpha…
CPI check
The Bureau of Labor Statistics will release a fresh batch of inflation data this morning with the July Consumer Price Index. The Trump administration’s tariffs are expected to seep more into July’s data after effects began to show in June. But concerns over data credibility loom large.
What to expect: Economists on average expect headline CPI to rise 0.2% M/M in July (vs. +0.3% in June), and a 0.3% M/M increase in core CPI (vs. +0.2% in June). July CPI is expected to rise 2.8% Y/Y, accelerating from 2.7% in June, and core CPI is expected to climb 3.0% Y/Y, up from 2.9% in June. Investing Group Leader Chris Lau said while tariff risks remain high, headline inflation should be contained by moderating shelter costs and declining vehicle prices. SA analyst Damir Tokic sees a distinct possibility that evidence of stagflation will show up in the report.
Tariff watch: With the U.S. striking deals with close trading partners, importers basically saw where the floor will be on tariffs, according to Matt Colyar, economist at Moody’s Analytics. Those deals signaled that “there was not going to be much better deals or better terms or more business-friendly terms than that,” Colyar told Seeking Alpha. For now, the full effect of tariffs on inflation isn’t likely to be felt until mid-2026. Colyar describes the near-term inflation path as “a reversal of where we were, but not 9% like in 2022, and certainly not runaway inflation.”
Data reliability: The CPI report comes as the BLS is facing concerns over the quality of its data collection as budget and staffing cuts have led to fewer price points being measured. In addition, President Donald Trump fired the agency’s head after claiming that recent nonfarm payroll counts were rigged to make him look bad. Trump has since named an outspoken BLS critic to lead the agency. Morgan Stanley’s Michael Gapen said the firing “has raised questions about whether and by how much the quality of official data produced by U.S. government agencies could be compromised.”
What else is happening…
WSB survey results: Mixed views on tangible shopping.
Trump extends China tariff pause, ‘gold won’t be tariffed.’
China urges firms not to use Nvidia’s (NVDA) H20 chips.
Trump praises Intel CEO days after calling for his exit.
Musk threatens to sue Apple over alleged OpenAI bias.
Why no more Dojo could be positive for Tesla (TSLA).
Albemarle (ALB) replaces COO as part of restructuring.
ZIM Integrated (ZIM) CEO to lead effort to go private.
Debt woes: Kodak (KODK) raises going concern doubt.
Bain Capital said to weigh Bob’s Discount Furniture IPO.
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Good morning. Happy Monday. Hope you had a great weekend.
The Asian/Pacific markets did well. China, India, and Indonesia led the way; the Philippines was weak. Europe, Africa and the Middle East are currently quiet and mixed. Turkey and Greece are up; Denmark, Portugal, Israel, and Saudi Arabia are down. Futures in the States point to a slight positive open for the cash market.
————— VIDEO: Earnings are Wrecking Havoc on the Charts —————
The dollar is up. Oil is up; copper is down. Gold and silver are down. Bonds are up. Bitcoin is up.
Stories/News from Seeking Alpha…
New opening
Bed Bath & Beyond and the legacy “20%-off coupons” are back, with a new rebranded chain to be called Bed Bath & Beyond Home. The first store has opened, or more accurately, been “converted,” in Brentwood, Tennessee, with plans to convert another 75 stores through 2026 (see below). It’s the latest chapter in the saga of the storied company and a renewed vote of confidence for physical retail locations.
Backdrop: The first Bed ‘n Bath store opened in 1971, but the firm went public under the “BBBY” ticker in 1992 – eventually adding the buybuy Baby, Cost Plus World Market, and Christmas Tree Shops chains. At its peak, the business operated more than 1,500 U.S. and Canadian locations. Missing the boat on the internet, Bed Bath began to falter in 2019, posting its first-ever annual loss as activist investors began a push to remove then-CEO Steven Temares and restructure BBBY’s board.
Store closures accelerated in 2020 during the COVID-19 pandemic, and Bed Bath began scaling back the use of the ubiquitous 20%-off coupons that it had regularly been mailing to millions of U.S. households. Leadership shakeups and dismal holiday seasons ensued, while the chain faced increasing competition from industry players like Amazon (AMZN) and Walmart (WMT) to HomeGoods (TJX) and Wayfair (W). Bed Bath ultimately filed for bankruptcy in 2023, with Overstock.com buying its intellectual property and rebranding its business to Beyond Inc. (BYON).
Beyond Inc. initially tried to launch the Bed Bath brand as an online store and mobile app, and even began selling its merchandise at Container Store locations in 2024, but the bigger push came earlier this year. Beyond (BYON) took a stake in Kirkland’s, a home goods chain with about 300 stores across America, while giving it a license to develop Bed Bath & Beyond Home stores. In June, Kirkland’s rebranded to The Brand House Collective (TBHC), detailing a plan to accelerate store conversions by utilizing the iconic Bed Bath & Beyond family of brands.
Outlook: “When you think back to Bed Bath & Beyond in the past, you think of the gadget wall and towel wall, they really didn’t have home decor and furnishings, so we’ve merged those two,” said Amy Sullivan, CEO & Creative Officer of The Brand House Collective (TBHC). “There’s a sense of community and coming back and engaging, and entertainment and hospitality, that has really brought a resurgence back to brick-and-mortar. This isn’t just a store. It’s a fresh start for a brand that means something special to so many families.” Take the WSB survey.
What else is happening…
Nvidia, AMD to pay 15% of China AI chip sales to U.S.
Apple’s (AAPL) Siri delay said to mask bigger AI ambitions.
Lithium surges on supply fears as China shuts major mine.
Amid tensions, Intel (INTC) CEO is set to meet with Trump.
Goldman: U.S. firms are absorbing two-thirds of tariff costs.
Ackman pitches combining Fannie Mae and Freddie Mac.
Ether (ETH-USD) briefly tops $4,300 for first time since 2021.
Trump weighs reclassifying marijuana as less dangerous drug.
Reversing bets: Hedge funds shift from oil shorts to renewables.
Corporate America is buying back shares at a record pace.
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