Nvidia Turns Green After Denying Report Its Kyber Server Rack Has Been Delayed Overnight, Asian tech stocks slumped after a report that Nvidia’s next-generation AI server rack system has been delayed by more than a year due to manufacturing difficulties (we profiled it back in May in “Nvidia’s Vera Rubin Rack Will Cost $7.8MM: Here’s What’s In It”.) Research firm SemiAnalysis said in an X post that Nvidia’s Kyber NVL144 hit […]

Cuba’s Entire Power Grid Collapses As Castro’s Grandson Seeks Talks With Trump Summary: Cuba’s Power Grid Collapses  Castro’s Grandson Ready To Talk With Trump  Cuba Goes Dark Hours after USA Today published an interview between one of its journalists and Cuban President Castro’s grandson, Raúl Guillermo Rodríguez Castro, the communist-run island experienced an island-wide power grid collapse. The electrical workers’ union […]

Hormuz In The Rearview As Asia-US Ocean Container Rates Soar Past $7,900 By Stuart Chirls of AmericanShipper The container shipping market is being driven by geopolitics, rates, and network reshuffling, but freight-rate volatility and adjustments by carriers to protect schedules and pricing has supplanted Middle East disruptions as top-level concerns. Asia-U.S. West Coast prices increased 8% to $6,175 per forty foot equivalent […]

Xbox Hit With 3,000 Layoffs After CEO Warns Business Is “Not Healthy” Xbox CEO Asha Sharma issued a dire warning to staff on Monday: “Our business today is not healthy. We must reset Xbox.” Sharma’s memo, first published on the Xbox website, announced cuts of 3,200 jobs tied to Microsoft’s Xbox division, or equal to about 20% of staff, as deteriorating margins and disappointing Game Pass subscriptions have forced the unit into a […]

New Jersey Lawmakers Pass Bill To Establish Large Load Data Center Tariff By Zachary Skidmore of DataCenterDynamics New Jersey lawmakers have passed a bill that will direct the state’s Board of Public Utilities (PUC) to establish a dedicated data center tariff for facilities with a capacity of 50MW or more, in an attempt to shield other ratepayers from cost increases tied to new builds. A similar bill was originally proposed in […]

Truck Driver Accused Of Using Fake Documents To Steal $2.9 Million Cargo By Phil Bring of FreightWaves Police in Greenfield, Indiana, arrested a California truck driver after officers recovered nearly $2.9 million worth of tungsten oxide powder that police said thieves stole during a cargo theft in Pennsylvania. According to a June 28 news release from the Greenfield Police Department, officers received an alert around 6 a.m. […]

Saudi Arabia Sells Oil At A Discount For The First Time Since COVID Crash, As China Demand Collapses We previously discussed the unprecedented collapse observed in recent months in Chinese oil demand and imports, which led to the bizarre scenario where even Iran can’t find buyers (read China) for its temporarily unsanctioned oil armada (see “Iran Runs Into Big Problem: No Buyers For Its Oil, As Full Tankers Pile Up Off China”) and […]

‘Restraining Order Needed’: Trump Again Taunts Italy’s Meloni, Ahead Of NATO Summit There’s no time like the eve of the major annual NATO summit for Trump to reignite his longstanding feud with Italian prime minister Giorgia Meloni, apparently. The American President blasted out the below Truth Social just before heading to Ankara, Turkey for the gathering of NATO heads… With just a few days to go before the next NATO summit, […]

US Services Surveys Show Continued Expansion In June: Jobs Up, Inflation Down Following US manufacturing small dip in June (though still expanding), the US Services sector PMI surveys are a little more mixed but both still solidly in expansion in June: S&P Global US Services PMI ticking up on the month from 50.7 to 51.2 (but a smidge below the 51.3 flash print) ISM US Services PMI dipped from 54.5 to 54 (in line with […]

Key Events This Week: ISM, FOMC Minutes And Fed Speakers The week after payrolls is usually a quieter affair but there’s plenty of global events even if the US calendar is light. In terms of the main highlights, given the current focus on monetary policy the FOMC minutes (Wednesday) and the ECB’s June meeting account (Thursday) will be carefully watched, especially the former given it was the first of the new Warsh regime. […]

Russia & Ukraine Trade Some Of Biggest Strikes Of War On Eve Of NATO Summit Russia has unleashed another massive drone and missile attack wave on Ukraine’s capital, just on the eve of the major annual NATO summit, which is in Ankara, Turkey this week. Over a dozen people were killed, with heavy damage against residential structures observed. The death toll could rise, but “In total, 14 people have died and 117 have been injured […]

When A Toll Isn’t A Toll By Benjamin Picton, senior market strategist at Rabobank When A Toll Isn’t A Toll Yields on 10-year Treasuries finished last week up 11bps to 4.48% while yields on 10-year Bunds rose 8.5bps to 2.93%. Those higher borrowing costs came despite signs of weakening in the US jobs market, a weaker-than-expected prices paid figure on the ISM manufacturing index, and a surprisingly weak Eurozone CPI inflation […]

Porsche To Eliminate 4,000 Jobs In Germany: Report Germany was once the industrial engine of Europe, but years of disastrous climate change policies, high energy costs, and left-wing economic mismanagement have battered its manufacturing base. This pressure has been roiling the country’s auto industry, where struggling carmakers are restructuring operations through workforce reductions, production cuts, and capacity reductions. […]

Saylor’s Strategy Sells 3,588 Bitcoin To Cover Preferred Dividends Authored by Micah Zimmerman via Bitcoin Magazine.com, Strategy sold 3,588 bitcoin for $216 million to fund dividends on its preferred securities, the company disclosed in a Form 8-K on July 6, 2026. The sale marks the largest bitcoin disposal in the company’s history and its most direct admission that its dividend obligations now shape its treasury. Chairman […]

Futures Rise As Tech Rebounds In Post-Holiday Catch Up US equity futures point to a firmer cash open as traders return from the long weekend, but the bigger question is whether investors continue to rotate out of the crowded AI trade and into the broader market.  As of 8:00am ET, S&P futures rise 0.4%, while Nasdaq 100 contract rise 1.1% as most Mag 7 names are in the green.  In premarket trading, chip/memory stocks rebound […]

China CXMT Testing Production Line for Next-Gen Bonded DRAM, Closing Tech Gap With Korea “Far Faster Than Expected” According to Korea’s Hankgyung, China’s largest memory company, CXMT, which is preparing to IPO in the coming weeks, is currently testing a pilot production line for bonded DRAM in Hefei (the heart of China’s semiconductor industry), aiming to achieve high-performance DRAM without using advanced EUV lithography, […]

Trump Shares Image Of $100 Bill Featuring His Signature President Donald Trump posted a photo of a $100 bill bearing his signature on Truth Social on July 3, presenting the first paper currency to be signed by a living president. Trump didn’t add a comment to the post, but the Treasury Department chimed in. “Under President Trump’s leadership, we are on a path toward unprecedented economic growth, lasting dollar dominance, […]

“Should Never Have Happened”: Illegal Alien Truck Driver Kills Pennsylvania Trooper Submitted by American Truckers United, A Pennsylvania State trooper is the latest victim of the trucking industry’s open borders experiment. This dangerous policy began under the Biden-Harris regime when hundreds of thousands of illegal aliens were issued CDLs, mostly from ten states. The fast-tracking of CDLs for illegal aliens has flooded the […]

Citi Expects Oil To Sink To $60 As Hormuz Traffic Normalizes Brent Crude prices could plunge to as low as $60 per barrel by the end of the year, according to the latest note from Citi’s commodity research team which expects flows through the Strait of Hormuz to soon normalize and the US and Iran to reach a deal in the coming months. “Fundamentals are rapidly reasserting themselves as Hormuz disruptions fade, with Brent back to the […]

The Three SHTF Scenarios That Could Change The World Faster Than Anyone Expects! Authored by Madge Waggy, For decades, the greatest threats to global stability were often imagined as distant possibilities—events reserved for history books, military simulations or the darkest years of the Cold War. Today, that assumption is becoming increasingly difficult to defend. International defense spending has reached levels not seen in […]

World Cup Fans Drive Spending Surge In These US Host Cities Bank of America has released new aggregated credit and debit card data showing that the World Cup is already driving a noticeable increase in retail spending activity across the tournament’s 11 U.S. host cities. According to BofA analyst Aditya Bhave, brick-and-mortar spending at restaurants and bars in host cities rose 5.3% year over year in the three weeks ending June […]

LEGO Faces Backlash Over Pride-Themed Content Aimed At Kids Via American Greatness, The Denmark-based toy company LEGO is facing criticism after promoting Pride-themed content on social media and its website. Parents accused the company of introducing LGBT themes to a brand primarily marketed to children. Although LEGO produces some building sets for adults, the company markets most of its products to children. Many young […]

Soaring Imports Push India’s Crude Stocks To Near 1-Year High India’s strategic and commercial crude oil inventories have jumped to a nearly one-year high as the world’s third-largest crude oil buyer boosted its imports to a record high in June, OilPrice reported. As at the end of June, India’s crude oil stocks held in strategic, commercial, and refinery storage had increased to 104 million barrels, up from 90.5 million […]

More Defense Spending, More Climate Redistribution: The EU Spins A $2.2 Trillion Wealth Transfer Machine Submitted By Thomas Kolbe Negotiations over the European Commission’s next seven-year budget are entering their decisive phase. Should Ursula von der Leyen and her allies succeed with their plans, Germany will once again shoulder a substantial financial burden. By now, however, Germans have become accustomed to that reality. […]

The Unfinished Revolution: When Rights Become Privileges Authored by John & Nisha Whitehead via The Rutherford Institute, “What country can preserve its liberties if their rulers are not warned from time to time that their people preserve the spirit of resistance?” – Thomas Jefferson What exactly are Americans celebrating this Fourth of July? Two hundred and fifty years after the Declaration of Independence […]