Navy Secretary John Phelan Abruptly Departs Trump Admin With No Explanation, "Effective Immediately"

Market Leadership Is Narrow, Increasing Summer Risk Authored by Lance Roberts via RealInvestmentAdvice.com, 📈Technical Backdrop – Friday Selloff Tests The Tape The S&P 500 closed Friday at 7,408.50, surrendering Thursday’s historic first close above 7,500 with a 1.24% decline. The semiconductor names that powered the rally became the source of Friday’s selling. Intel fell 5%, Micron 4%, AMD 3%, and Nvidia 4.4%. From a purely technical standpoint, Friday’s reversal was the first real distribution day in three weeks and the mean-reversion signal we have been flagging. The deviation numbers are the story. At 7.0% above the...

"Resetting Business": Xbox Layoffs Loom As New CEO Supercharges Overhaul Microsoft's Xbox gaming division is preparing for a major round of job cuts at the end of the month as new Xbox CEO Asha Sharma moves to "reset" the unit amid a confluence of negative and worsening pressures, including shrinking revenue, soft hardware sales, plateauing Game Pass momentum, and what management now describes as an ongoing "hardware component crisis." Bloomberg first reported that Microsoft will announce an upcoming round of layoffs after the company's fiscal year ends on June 30. The...

President Donald Trump posted on Truth Social that Iran had agreed to reopen the Strait of Hormuz, and a two-week truce would begin. “Based on conversations with Prime Minister Shehbaz Sharif and Field Marshal Asim Munir, of Pakistan, and wherein they requested that I hold off the destructive force being sent tonight to Iran, and […]