Trump Crosses Iran's 'Red Line' By Heavy Bombing Of Kharg Island, Endangering Energy Assets Across Region

Futures Rise, Oil Drops As US Ends Iran Strikes US equity futures are higher led by tech and small caps, with traders buying the dip in stocks as a swift conclusion to the latest round of US strikes against Iran raised expectations that talks over a peace deal and the reopening of the Strait of Hormuz will get back on track. As of 8:00am ET, S&P futures rise 0.7% to recover from a five-week low after Trump forewarned Iran would be hit “very hard,” followed by swift and superficial strikes; Nasdaq...

Meta Plunges After Boosting Capex Outlook Again On "Higher Component Pricing" The last of the giga-caps to report today, the increasingly more misnamed Meta Platforms, had some good news to report for the just completed Q1. It also had bad news, and judging by the plunge in the stock price, the market is focusing on the latter.  First, the good news: the company reported revenue and EPS both of which beat estimates, and guided Q2 revenues which came in roughly in line with estimates. Here is the breakdown.  EPS $10.44 vs. $6.43...

The Rush To Pull Gold Out Of The US Submitted by QTR's Fringe Finance It was reported yesterday that the Netherlands just shifted approximately 86 tonnes of its gold reserves from New York and Ottawa to London, explicitly citing “increasing geopolitical unrest” and the need to prepare for severe crises. The Dutch central bank says gold held in London can be accessed and traded more quickly during an emergency than gold stored in New York or Canada. That is some wonderfully sanitized central-bank language to deliver a message that seems to me to be “confidence...