Davide Marcotti @Dafne17: "Good morning legends ☀️ Weed out..."

United Arab Emirates

Good morning legends ☀️ Weed out the noise. Here's your selection of the real key market movers of the last 24 hours 🌍 Macro 🟢 June CPI dropped 0.4% month-over-month with core inflation flat at 0.0%, sending yields down 10bp on the 2-year as markets reversed yesterday's rate hike pricing. 🟢 Trump scrapped his 20% Strait of Hormuz transit fee after productive Middle East talks, replacing it with trade and investment deals as oil $OIL eased back from session highs. 🟢 Fed Chair Kevin Warsh pledged to defeat inflation in his Tuesday testimony to Congress while highlighting the strength of the US economy despite recent headwinds. 🟢🟢 China June exports surged 27% year-over-year — the strongest pace since October 2021 — while imports jumped 36%, the largest gain since June 2021. 🔴 The ECB hiked rates 25bp in June citing inflation pressures from the Middle East war, raising the deposit rate to 2.25% as oil shocks feed through to broader prices. 🔴🔴 IBM shares cratered 25% after warning Q2 profits will miss estimates due to soft demand in its software and infrastructure businesses, dragging down the software sector. 📈 Crypto 🟢 Bitcoin $BTC climbed past $64,000 after the softer-than-expected inflation print and Warsh testimony calmed rate hike fears that had pressured risk assets. 🟠 The US government moved $288 million in seized bitcoin and ether to Coinbase Prime, raising questions about Trump's earlier no-sell reserve order. 🟢 DeFi tokens have outperformed Bitcoin in recent weeks, holding up unusually well — a setup Bitwise called atypical given DeFi usually swings much harder than BTC. 🟢 Ethereum $ETH rallied over 6% as the risk-on shift from cooling inflation data lifted altcoins across the board. 🟢 South Korean retail investors piled into crypto as the KOSPI plunged nearly 9%, with local exchange volumes soaring amid equity market turmoil. 🔴 Bitcoin consolidated around $62,600 earlier in the session after Monday's selloff driven by Trump's renewed Iran blockade threats and rising geopolitical uncertainty. 🏦 TradFi 🟢 The S&P 500 $SPX500 closed 0.38% higher boosted by semiconductors after June inflation data came in weaker than expected, while the Nasdaq advanced 0.9%. ✅ in the portfolio 🟢🟢 Goldman Sachs surged 7.95% — the largest holding in the price-weighted Dow — following a blowout Q2 earnings beat that lifted the entire financial sector. 🔴🔴 SK Hynix US-listed shares tumbled 8% after their Nasdaq debut pop, while Seoul-listed shares crashed over 15% in their worst day ever as investors booked profits. 🔴 HSBC downgraded Arm Holdings to hold citing upstream foundry bottlenecks that will stymie near-term upside despite long-term bullishness on the chipmaker. 🟢 Stripe and private equity firm Advent International made a joint $60.50-per-share offer to acquire PayPal — a 28% premium that signals confidence in fintech consolidation. 🔴 JPMorgan downgraded Progressive to neutral from overweight ahead of its Q2 earnings today, citing expectations for policy-in-force growth deceleration versus peers. 🤖 AI & Tech 🟢🟢 OpenAI and Nvidia $NVDA (NVIDIA Corporation) announced a strategic partnership to deploy at least 10 gigawatts of AI infrastructure, with Nvidia investing up to $100 billion progressively as systems are deployed. ✅ in the portfolio 🟢🟢 OpenAI raised $110 billion at a $730 billion pre-money valuation with $30 billion from SoftBank, $30 billion from Nvidia, and $50 billion from Amazon — a funding round that cements its infrastructure dominance. 🟠 New York became the first US state to impose an AI data center ban, creating regulatory uncertainty for hyperscale buildout plans just as demand for compute accelerates. 🔴 Microsoft is cutting 4,800 jobs — 2.1% of its workforce — with Xbox losing about one-fifth of its staff as the company pivots resources toward AI investment. 🔴 IBM's profit warning triggered a selloff across enterprise software, with Workday down nearly 6%, Autodesk off 3%, Salesforce down 3%, and Microsoft slipping 1.81%. 🟢 ChatGPT surpassed 900 million weekly active users with over 50 million consumer subscribers, and January and February are on track to be the largest new subscriber months in OpenAI's history. Inflation's easing but liquidity is still the name of the game — the Fed pivot everyone's been waiting for might finally be setting up. @Tori , anything else I have missed? Stay sharp - follow if you want the key market movers in your feed every morning 🙏

Not investment advice. The author may have financial interests in the mentioned instruments.