Iran Claims Kuwait Airbase Attack, Strikes Pair Of Tankers In Hormuz, Despite No New US Operations Overnight

"The Roaring 2020s Are Back": S&P Futures Hit New Record With Nasdaq Up 12 Straight Days On Iran Truce Optimism Stock futures are edging higher on continued optimism about an extended truce in the Middle East, while Taiwan Semi's solid results have sparked another leg higher in AI trade. As of 8:15 am ET, S&P 500 futures rose 0.1%, while Nasdaq 100 contracts +0.2%, and on pace for a 12th day of gains. The early hours of the session saw a sharp rally in technology stocks after TSMC's upbeat revenue...

Trump's War Economy Accelerates As Lockheed Wins $35 Billion Deal To Quadruple Missile-Interceptor Output President Trump's war economy continues to gain steam as weapons production is kicked into high gear and stockpiling becomes a top priority for the Department of War. The latest evidence: Lockheed Martin has won a DoW contract worth up to $35 billion to quadruple production of THAAD missile-defense interceptors, according to Bloomberg. The seven-year agreement follows a January framework deal between Lockheed and DoW to boost interceptor output over the next few years. It also comes as the...

ECB Hikes Rates For First Time Since 2023 (As Expected); Cuts Growth, Hikes Inflation Outlook As fully expected, The ECB hiked its key rate by 25bps (for the first time since 2023) as the policymakers battle with the dilemma of economic weakness combined with rising inflation. Obviously, raising rates to dampen inflation could further slow the economy, while easing rates to support growth increases the risk that higher inflation becomes persistent. Clearly, Lagarde et al went with the former with its well-jawboned baseline having long been a hike in June with risks skewed toward...