Market news
Crypto, stocks, forex and macro, aggregated for traders.
Price vs Market Cap: Why 10T Supply Token at $0.00001 Means Little
A token with a 10 trillion supply and a tiny price per coin can still have a massive market cap. The post uses a pizza cutting analogy to explain why price alone is misleading.
Hedge Funds Bet $18 Billion Against Brent Crude, Most in Decade
Hedge fund net short positions on Brent crude have surged to roughly $18 billion, the highest in at least ten years, with short bets more than tripling over the past three months.
Brazil to Add Zero-Duty Import Quotas for Disassembled EVs from July 1
Brazil will introduce additional zero-duty import quotas for disassembled and semi-assembled electric vehicles starting July 1, offering limited relief to automakers facing higher import barriers.
Brazil to Maintain Tariff Hikes on Imported EVs, 35% by 2026
Brazil will keep its planned tariff increases on imported electric and hybrid vehicles, with a 35% import tax on assembled and semi-assembled EVs starting July 2026, and on disassembled vehicles from January 2027.
Nike Appoints David Denton as CFO, Matthew Friend to Step Down in September
Nike announced David Denton as its new chief financial officer, succeeding Matthew Friend who will step down in September. The company also indicated Q4 results will benefit from tariff refunds, with underlying performance in line with guidance.
Fastenal Amends Credit Agreement, Boosts Borrowing Capacity to $1.34 Billion
Fastenal has amended its credit agreement, securing an $835 million committed facility with a $1.34 billion total borrowing capacity, and extended the maturity to June 2031.
FedEx Beats Q4 Estimates, Revenue Up 13% to $25B, Issues Strong FY2026 Guidance
FedEx reported Q4 adjusted EPS of $6.31 versus $5.91 estimate, with revenue rising 13% year-over-year to $25 billion. The company also issued FY2026 adjusted EPS guidance of $16.90-$18.10, signaling confidence.
US Dollar Hits One-Year High Near 101.40 on Strong PMI
The US Dollar Index climbed to a one-year high near 101.40 after the S&P Global Manufacturing PMI rose to 55.7 in June, its highest since May, signaling resilient business activity.
Swiss Franc Falls Against USD for Fifth Day, Rises vs Euro
The Swiss Franc weakened for a fifth consecutive session against the US dollar, falling 0.15%, as risk appetite deteriorated amid the AI sell-off and expectations of a Fed rate hike later this year. Meanwhile, the franc gained ground against the euro.
US Commerce Secretary Signals Possible Action Against Chinese Robotics Imports
US Commerce Secretary Howard Lutnick said the administration is investigating state-subsidized Chinese robotics imports and could take strong action once the review is complete, as Washington views China's state-backed robotics industry as a national security concern.
Gold ETFs See Largest Weekly Inflows Since Mid-April
Physical gold-backed ETFs attracted $1.1 billion in net inflows last week, the largest since mid-April, reversing four straight weeks of outflows that totaled $7.6 billion.
Pakistan PM Says Iran Missiles Not Part of US-Iran Talks
Pakistan's Prime Minister Shehbaz Sharif stated that Iran's ballistic missile program was never included in the US-Iran peace negotiations, countering claims that missile capabilities were discussed. He praised the peace deal as a step toward stability, while Iran insisted its missiles remain off the table.
US Dollar Index Climbs to Highest Since May 2025 on Fed Hike Bets
The US Dollar Index (DXY) extends its rally on Tuesday, climbing to its highest level since May 2025, trading around 100.40, up 0.4% on the day.
AI Stocks Slide on Micron Outlook, BofA Sees Visibility into 2028
AI-related stocks fell sharply on Tuesday, with the Nasdaq 100 down 2.6%, as a 10% sell-off in South Korean memory chip stocks spilled over and Micron's earnings setup disappointed. BofA remains positive on AI visibility through 2028.
Gold Price Slides as AI Rout Fuels US Dollar Flight
Gold (XAU/USD) dropped over 1.30% on Tuesday, reversing Monday’s gains, as a hawkish Federal Reserve and risk-off sentiment boosted the US Dollar. An AI-driven market rout further fueled demand for the greenback as a safe haven.
Retail Demand for SpaceX IPO Hits Record $405 Million in First Week
Retail investors poured $405 million into SpaceX (SPCX) during its first five trading sessions, the largest first-week retail purchase of any IPO on record, according to Vanda Research.
Commerzbank: Weak KRW, Hawkish BoK Expectations Persist
Commerzbank notes strong South Korean export momentum but says the won remains one of Asia's weakest currencies, with hawkish Bank of Korea expectations still supporting the case for a weaker KRW.
AUD/USD Falls Near Three-Month Low Ahead of Australian CPI
The AUD/USD fell to near 0.6920 on Tuesday as traders await the Australian Consumer Price Index for clues on RBA policy.
Dow Jones Holds Green as Chip Sector Craters
The Dow Jones Industrial Average stayed green on Tuesday despite a broad market selloff, but the underlying reason for its resilience raises concerns.
Colombia Elects Right-Wing Populist Abelardo de la Espriella
Right-wing populist candidate Abelardo de la Espriella won Colombia's presidential runoff on June 21, with record voter turnout.
Eli Lilly and Bayer Warn Germany’s Pharma Policies Risk Investment
Eli Lilly and Bayer have criticized Germany’s spending policies on innovative medicines, warning they could undermine the country’s attractiveness for pharmaceutical investment, according to a Financial Times report.
Pakistan PM Defends Iran's Missile Program, Says Objections Unnecessary
Pakistan's Prime Minister Shehbaz Sharif defended Iran's ballistic missile program, arguing that many countries possess such capabilities and that objections would only create unnecessary controversy and delays.
Trump Denies Iran's Claim on IAEA Inspections, Warns of Talks Cancellation
President Trump refuted Iran's assertion that no IAEA inspections are scheduled, stating Tehran has committed to full inspections and warning he would immediately cancel talks if that were not the case.
Trump Says Iran Mistaken on IAEA Inspectors, Talks Continue
Donald Trump stated that Iran is wrong about IAEA inspectors and sees no urgent need to deploy them, while negotiations with Tehran are ongoing and a deal remains possible.