Israeli Strike Kills Three Palestinians in Gaza City

UMich Sentiment Bounces Off Record Low In June, Inflation Fears Fade After reaching all-time record lows in May, analysts expected UMich's Sentiment index to rebound modestly in preliminary June data and it did, up from 44.8 to 48.9 (well above 46.0 exp), with consumers experiencing some relief due to the early-month easing in gasoline prices. Source: Bloomberg "This measured improvement in sentiment was widespread, seen across age, education, and political party," said Surveys of Consumers Director Joanne Hsu, adding that "lower-income consumers exhibited a particularly strong sentiment increase, consistent with the fact that...

Futures Slide After Bond Yields, Oil Prices Jump Around The Globe Futures are lower, but off their overnight lows as markets focus on soaring global yields after US/Iran talk progress remains stalled (but at least armed hostilities did not resume contrary to some speculation). Yields also spiked on rising oil prices, concerns of an extra budget in Japan and continued political chaos in the UK. As of 7:00am ET, S&P futures are -0.5%, while Nasdaq futures drop 0.3%; semis are bid, Mag7 are mostly lower ex-NVDA which reports earnings this...

Musk Targets Retail Investors For Up To 30% Of SpaceX's IPO Shares Elon Musk is planning a highly unconventional IPO for SpaceX, aiming to make it one of the largest public offerings ever, with a target raise in the tens of billions, according to the Wall Street Journal. Instead of relying solely on the standard investor roadshow, he is considering bringing investors directly to SpaceX sites, where they could tour facilities and potentially witness rocket launches—turning the pitch into an immersive experience designed to build excitement and demand. A central part of...