US Bombs Somalia for 47th Time This Year

Futures Fall As AI Selloff Resumes US equity futures woke up after President's Day and chose to resume their selloff (after a modest bounce on Monday's holiday failed to hold) dragged by Tech, as the risk-off moves on AI disruption fears continue. As of 8:15am ET, S&P 500 futures were down 0.5% with Nasdaq 100 contracts falling 1.0%. In premarket trading, all Mag 7 stocks are lower and Semis are being pressured with AVGO / NVDA lower by more than 1%. Pockets of outperformance (and higher absolute returns) can be found...

A resolution proposed by Democratic Senator Tammy Duckworth, instructing President Donald Trump to end the war against Iran, was rejected by the Senate.  On Wednesday, the upper chamber rejected the legislation on a 52-47 vote. Senator Rand Paul was the only Republican to vote for the resolution, and John Fetterman was the only Democrat to […]

Bessent Keeps Running Tally Of China As "Unreliable Global Partner" - Count Now Stands At Three Treasury Secretary Scott Bessent told reporters Tuesday that Beijing’s panic hoarding of crude and refined products, while refusing to join the rest of the world in releasing supplies to offset the Gulf energy shock, has now demonstrated for the third time in five years that China is an "unreliable global partner." "China has been an unreliable global partner three times in the past five years; once during COVID, when they hoarded healthcare products, second on...