When The Persian Gulf Supply Shock Meets The Warsh Fed: Stagflation & The Coming AI Bubble Bust

Futures, Yields And Oil All Rise As Trump Arrives In China US equity futures are up (alongside oil and yields, go figure), reversing yesterday's modest losses, as optimism around the earnings potential of AI outweighs concerns over hot inflation readings bringing dip buyers back to drive tech stocks higher, with traders betting that the tech rally has further room to run while also hoping on good news from the Trump-Xi summit set to start today in Beijing. As of 7:30am ET, S&P futures were up 0.2% and Nasdaq futures rose...

Vance Reportedly Questions Pentagon's Rosy Assessment Of Iran War Vice President JD Vance is reportedly questioning assessments from the Department of War about the effectiveness of the US military campaign against Iran. According to two senior White House officials cited by The Atlantic, Vance has expressed skepticism about recent Pentagon estimates on the depletion of US munitions since the launch of Operation Epic Fury. A report released last week by the Center for Strategic and International Studies found the Pentagon used roughly half of its stockpiles of advanced interceptors and standoff...