"His transition from head chopper to Missy Elliott fan has to be one of the most remarkable transformation stories ever. Yet we have heard virtually zero explanation as to his change, nor any apologies..."

US stocks ended lower in a choppy session. Early optimism over potential progress in US-Iran talks reversed late in the session on fresh geopolitical headlines.

"We see the strong recovery in the industrial end market as a particularly encouraging...'"

"All it took was a CPU shortage, AI agents, SpaceX + TSLA terafabs and a bit of help from the U.S. government + NVDA." 

Israeli press suggests Ghalibaf resigns from negotiations, later denied; Iran sounds air defenses, later revealed as tests; Israel preparing for renewed war this weekend; Reports tout breakthrough announcement regarding US/Iran talks shortly; IRGC lays more mines in Hormuz; Trump to bolster mine removal efforts; Somalia closes Bab-al-Mandab strait to Israeli shipping; Japanese official jawboning; Jobless Claims rise; Strong US Flash PMIs, but with inflation warnings; NOW and IBM earnings disappoints; MBLY earnings impress; TSLA sold after CapEx boost and revenue miss; META to lay off 10% of workforce

Institutions are now aggressively piling into tech once again, positioning for strong earnings results from the tech heavyweights, which usually means a rug pull is imminent.

"There is a fair amount out on the micro front, which looks to drive another leg of Semi outperformance vs. Software" 

"I know this is unwelcome news, and confirming it puts..." 

" ...while casual dining's value perception has deteriorated to the lowest level in Goldman's dataset." 

The DoD is quickly establishing itself as the anchor customer for the microreactor industry...

...$23 billion ranks in the 92nd percentile since 2000.

The world is a meme...

Reports of software's death are greatly exaggerated.

The funding market is displaying several of the markers that have preceded prior blow-ups in repo rates, despite looking calm on the surface.

...market continues to treat this as a short-term shock for the global economy

“A lack of progress on US-Iran negotiations may bring some reality check to equity markets after a strong rebound."

...job adds surge, jobless claims purge

"Based on the forward fuel curve and the current revenue outlook, the midpoint ..." 

"Despite the improved outlook, it appears that some consumers are already changing their behavior..."