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Michael Burry makes a bold call on the SpaceX trade
https://finance.yahoo.com/markets/stocks/articles/michael-burry-makes-bold-call-161700384.html

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Michael Burry makes a bold call on the SpaceX trade

Every investor eventually learns the same lesson. Being right about a price and making money on it are two different things. You can spot a stock that looks wildly overpriced, run the math three times, and still watch it climb for months while your conviction…

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🐳 WhalePool Traders Journal

Wall St indexes advance with boost from chips, Iran optimism

June 18 (Reuters) - U.S. stock indexes rallied on Thursday, with the Nasdaq's 1.9% advance boosted by gains in semiconductor shares, while inflation fears eased after the U.S. and Iran signed a peace agreement, although investors still priced in interest rate hikes this year from the Federal Reserve.

The ‌Philadelphia semiconductor index (.SOX), opens new tab sharply outperformed the rest of the market with a 6.4% rally as Intel's (INTC.O), opens new tab shares jumped to a record high and finished up 10.6%. U.S. President Donald Trump said iPhone maker Apple (AAPL.O), opens new tab had agreed to work with Intel to design and manufacture its chips in the U.S.

Early in the session, oil prices had slid to their lowest levels since early March after the U.S. and Iran signed an interim agreement that extends the April ceasefire by another 60 days to allow the sides time to reach a final deal. Inflation has been a huge worry for investors as oil prices had soared since the war began in late February.

Although Trump threatened to resume attacks if Iran failed to honor its commitments, the first ships started sailing through the Strait of Hormuz, where transportation of oil, ⁠gas, fertilizer and other cargoes had been disrupted since the start of the war.

On Wednesday, all three of Wall Street's major indexes tumbled, with investors pricing in the likelihood of Fed rate hikes after the central bank's new Chair Kevin Warsh underscored the need to curb inflation and other policymakers signaled higher borrowing costs ahead...

Traders were betting on a roughly 50% chance of a 25-basis-point rate hike as soon as September and a roughly 20% probability for a 50-basis-point hike, according to CME Group's FedWatch, opens new tab tool.

Investors were still assessing Warsh's indication that the Fed would provide less guidance on future policy moves and his stated focus on price stability. Eric Johnston, chief equity and macro strategist at Cantor, said, "The conclusion today is that the Fed has more credibility around inflation."...

With the ⁠market due to be closed on Friday for the Juneteenth holiday marking the emancipation of enslaved Black Americans, the S&P 500 marked a 0.93% weekly gain compared with the Nasdaq's 2.43% advance and the Dow's 0.71% increase....

On the day, five out of 11 major S&P 500 industry sectors finished higher.
Technology (.SPLRCT), opens new tab led gains with a 2.7% advance, followed by consumer discretionary (.SPLRCD), opens new tab, which closed up 1.8%.

Consumer stocks were boosted by the travel segment as the prospect of lower fuel prices supported rallies in cruise-line companies and airline stocks. The Dow Jones Transport average index (.DJT), opens new tab finished up 0.5%.

The small-cap Russell 2000 index (.RUT), opens new tab rose 2% and marked a record closing high.

On the data front, Labor Department data showed the ⁠number of Americans filing claims for unemployment benefits fell last week as layoffs remained low.

The S&P 500 software and services sector (.SPLRCIS), opens new tab finished down 0.7% after falling to the lowest in more than two months. The sector came under pressure as shares of Accenture (ACN.N), opens new tab tumbled 18% after the company trimmed the top end of its annual revenue forecast. Peers including Cognizant Technology Solutions (CTSH.O), opens new tab, Gartner (IT.N), opens new tab and IBM (IBM.N), opens new tab fell between 4.5% and 10.5%...

Shares in Elon Musk's SpaceX (SPCX.O), opens new tab lost 3.6% in their second straight day of declines, after the space and AI company had rallied sharply for the first few days of trading after its market debut last Friday.

https://www.reuters.com/business/wall-st-futures-bounce-back-us-iran-deal-optimism-balances-hawkish-fed-intel-up-2026-06-18/

Wall St indexes advance with boost from chips, Iran optimism
https://www.straitstimes.com/business/companies-markets/wall-st-indexes-advance-with-boost-from-chips-iran-optimism

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