Futures Jump As Micron Revives AI Euphoria, Oil Erases War Gains

Core Producer Prices Cooler Than Expected In April, Goods Costs Jump Most On Record After yesterday's mixed bag from consumer prices (headline in-line but core cooler than expected and goods deflating), US Producer Prices were expected to keep accelerating higher (on a YoY basis) in May and they did... by more than expected. Headline PPI rose 1.1% MoM in May (much hotter than the 0.7% MoM exp) but April's 1.4% MoM rise was revised down to +1.1% MoM. This left producer prices up 6.5% YoY (vs 6.4% exp and up from...

Iran Rushes To Load Oil Onto Ships In Anticipation Of US Strikes Via Middle East Eye Iran is loading almost three times the amount of oil it normally does onto tankers in the Persian Gulf in a sign it is anticipating a US attack that could prevent its oil from hitting the market.  Iranian oil exports from Kharg Island reached nearly 20.1 million barrels between 15 and 20 February, Bloomberg reported on Wednesday, citing Kpler data. That is the equivalent of more than three million barrels per day (bpd) and almost three times the amount loaded over...

Animal Farm Film A Hollywood Perversion Of Orwell's Anti-Communist Classic George Orwell's prognostications about the future of authoritarianism have proven consistently accurate.  They have only been limited by his inability to foresee the creation of certain technologies which make the future look even more bleak.  The reason his books, like 1984 and Animal Farm, are considered classics of literature is because they are timeless.  Their warnings and messages still apply today and will probably apply centuries from now.  Animal Farm, first published in 1945, is a tale specifically written as an allegory...