New Home Sales Unexpectedly Plunged In May As Prices Surged

Futures Slip As Korean Data Center IPO Faceplant Revives Tech Rout, French Spread Blows Out US futures are lower, led by the Nasdaq, as Monday's AI relief bounce fizzled overnight after South Korean data-center firm Elice cratered more than 30% in its trading debut, reviving doubts about who exactly will earn a return on the AI capex binge, while OpenAI is reportedly rushing to raise about $30 billion ahead of Anthropic's IPO and French stress returned with a vengeance; as a result the OAT-Bund spread widened to a 151bps peak,...

September Market Weakness: The Setup Has Teeth Authored by Lance Roberts via RealInvestmentAdvice.com, The Setup Has Teeth Earlier this week, in our Daily Market Commentary, I flagged that the market was testing support after three straight down days, starting in September, with the calendar. That was just the warm-up, as the real story lies in a note from Scott Rubner at Citadel Securities, whose read on September market weakness is among the best that I have read. Rubner’s case is not that the bull market has ended. It is that the near-term math just...

Exxon Wins Big As Supreme Court Revives Cuba Seizure Case The Supreme Court ruled Tuesday that Exxon Mobil can move forward with its lawsuit against Cuban state-owned oil companies over assets seized after Fidel Castro came to power, reopening a dispute tied to Cuba’s 1960 nationalizations, according to CNN. The 6-3 decision comes as President Donald Trump has taken a more aggressive stance toward Havana. Justice Brett Kavanaugh wrote for the majority, with the Court’s liberal justices dissenting. CNN writes that the ruling is part of a broader wave of legal and political...