Copper Supply Crunch Deepens as Inventories Fall
Copper markets are facing a growing supply squeeze, with spot prices on the London Metal Exchange (LME) rising sharply above later-dated futures. The September contract traded more than $260 above October futures, marking the widest one-month spread since the 2021 copper squeeze. LME inventories have fallen for 42 consecutive days to 204,975 tons, with nearly half of the remaining metal already earmarked for withdrawal. This leaves very limited immediately available supply and increases pressure on traders holding short futures positions.
The tightening supply is being amplified by strong shipments to the US and China, where copper prices are higher than on the LME. In the US, traders are anticipating possible tariffs on refined copper, while Chinese smelters are cutting production because of tight raw-material supplies. At the same time, long-term concerns over limited mine supply and rising demand from renewable energy, electric vehicles, and data centers are adding to expectations of a market deficit. Copper prices remain near record highs, with analysts warning that prices could rise above $14,500 per ton if the supply squeeze continues.
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Copper markets are facing a growing supply squeeze, with spot prices on the London Metal Exchange (LME) rising sharply above later-dated futures. The September contract traded more than $260 above October futures, marking the widest one-month spread since the 2021 copper squeeze. LME inventories have fallen for 42 consecutive days to 204,975 tons, with nearly half of the remaining metal already earmarked for withdrawal. This leaves very limited immediately available supply and increases pressure on traders holding short futures positions.
The tightening supply is being amplified by strong shipments to the US and China, where copper prices are higher than on the LME. In the US, traders are anticipating possible tariffs on refined copper, while Chinese smelters are cutting production because of tight raw-material supplies. At the same time, long-term concerns over limited mine supply and rising demand from renewable energy, electric vehicles, and data centers are adding to expectations of a market deficit. Copper prices remain near record highs, with analysts warning that prices could rise above $14,500 per ton if the supply squeeze continues.
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Boeing Analysts Turn Increasingly Bullish on Recovery
Wall Street analysts are becoming more optimistic about Boeing as signs of a business recovery begin to emerge. Buy ratings have reached their highest share since October 2022, with recent upgrades from Argus Research and BNP Paribas. None of the 32 analysts tracked by currently recommends selling the stock. Optimism increased after Boeing received long-awaited FAA certification for its 737 Max 7, which CEO Stephanie Pope described as an important milestone in the company’s recovery. Analysts also expect Boeing to benefit from strong long-term aircraft demand and rising defense spending.
Despite the improved sentiment, Boeing still faces significant challenges and its shares remain well below their 2019 record high. The company’s stock has risen only about 6% this year, while the broader market has gained considerably more. Analysts expect free cash flow to improve and production to ramp up, potentially supporting substantial gains over the coming years. However, Boeing still needs to demonstrate consistent execution and financial improvement before investors fully regain confidence.
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Wall Street analysts are becoming more optimistic about Boeing as signs of a business recovery begin to emerge. Buy ratings have reached their highest share since October 2022, with recent upgrades from Argus Research and BNP Paribas. None of the 32 analysts tracked by currently recommends selling the stock. Optimism increased after Boeing received long-awaited FAA certification for its 737 Max 7, which CEO Stephanie Pope described as an important milestone in the company’s recovery. Analysts also expect Boeing to benefit from strong long-term aircraft demand and rising defense spending.
Despite the improved sentiment, Boeing still faces significant challenges and its shares remain well below their 2019 record high. The company’s stock has risen only about 6% this year, while the broader market has gained considerably more. Analysts expect free cash flow to improve and production to ramp up, potentially supporting substantial gains over the coming years. However, Boeing still needs to demonstrate consistent execution and financial improvement before investors fully regain confidence.
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MEXICO HAS APPLIED A DUTY ON AMMONIUM SULFATE IMPORTS FROM CHINA.
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GOLDMAN SACHS INCREASES 12-MONTH ST target FOR STOXX 600 INDEX TO 695 FROM 660.
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GOLDMAN SACHS INCREASES FTSE 100 INDEX FORECAST FOR NEXT YEAR TO 11,400, UP FROM 11,000.
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PENTAGON ANNOUNCES DEAL TO INCREASE PRODUCTION OF MISSILE PARTS.
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PENTAGON REVEALS CONTRACTS WITH BOEING AND RTX FOR MISSILE INTERCEPTORS.
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U.S RETAIL SALES (MOM) (JUL) ACTUAL: -0.6% VS 0.2% PREVIOUS; EST 0.1%
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U.S CORE RETAIL SALES (MOM) (JUL) ACTUAL: -0.3% VS 0.2% PREVIOUS; EST -0.2%
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US Retail Sales Unexpectedly Decline in July
US retail sales fell 0.6% month-over-month in July, significantly weaker than the expected 0.1% increase and down from a revised 0.2% gain previously. The decline indicates a notable slowdown in consumer spending. Retail sales excluding autos dropped 0.3%, compared with expectations for a 0.2% rise, while sales excluding autos and gasoline fell 0.2%, versus an estimated 0.3% increase.
The weakness was also visible in the retail sales control group, which declined 0.4% against expectations for a 0.3% increase, following a 0.5% gain previously. Overall, the data point to softer consumer demand and could strengthen expectations for a more accommodative Federal Reserve policy, particularly if other economic indicators also show signs of slowing.
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US retail sales fell 0.6% month-over-month in July, significantly weaker than the expected 0.1% increase and down from a revised 0.2% gain previously. The decline indicates a notable slowdown in consumer spending. Retail sales excluding autos dropped 0.3%, compared with expectations for a 0.2% rise, while sales excluding autos and gasoline fell 0.2%, versus an estimated 0.3% increase.
The weakness was also visible in the retail sales control group, which declined 0.4% against expectations for a 0.3% increase, following a 0.5% gain previously. Overall, the data point to softer consumer demand and could strengthen expectations for a more accommodative Federal Reserve policy, particularly if other economic indicators also show signs of slowing.
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Treasuries Rise as Weak Retail Sales Boost Rate-Cut Bets
US Treasury prices extended their gains after July retail sales unexpectedly declined, coming in well below economists’ expectations for a modest increase. Treasury futures moved to fresh session highs, with shorter-dated bonds leading the advance. Front-end Treasury yields fell around 3 basis points, while the 2s10s curve steepened by roughly 2.5 basis points as longer-term yields remained slightly higher on the day.
The weak retail sales data also reduced expectations for Federal Reserve rate hikes. Overnight index swaps now price only about 8 basis points of tightening for the September Fed meeting, while roughly 20 basis points of tightening are priced for the full year, down from 23 basis points previously. The market reaction suggests investors are becoming less concerned about further rate increases as signs of softer consumer demand emerge.
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US Treasury prices extended their gains after July retail sales unexpectedly declined, coming in well below economists’ expectations for a modest increase. Treasury futures moved to fresh session highs, with shorter-dated bonds leading the advance. Front-end Treasury yields fell around 3 basis points, while the 2s10s curve steepened by roughly 2.5 basis points as longer-term yields remained slightly higher on the day.
The weak retail sales data also reduced expectations for Federal Reserve rate hikes. Overnight index swaps now price only about 8 basis points of tightening for the September Fed meeting, while roughly 20 basis points of tightening are priced for the full year, down from 23 basis points previously. The market reaction suggests investors are becoming less concerned about further rate increases as signs of softer consumer demand emerge.
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France’s Top Court Blocks Social Media Ban for Under-15s
France’s Constitutional Council has blocked a law that would have banned children under 15 from using social media, ruling that the legislation was unconstitutional. The law, championed by President Emmanuel Macron, was intended to address concerns about loneliness, bullying and the impact of social media on teenagers’ cognitive development. It would have prevented under-15s from creating new accounts from September, with a full ban on existing accounts planned for January.
The ruling could have wider implications as governments around the world consider similar restrictions on young teenagers’ social-media use. Critics argue that mandatory age verification could be technically difficult, threaten privacy and create problems for technology companies. France’s decision may therefore complicate efforts across Europe and elsewhere to introduce stricter online age limits, while increasing pressure on the EU to develop a common approach to protecting children online.
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France’s Constitutional Council has blocked a law that would have banned children under 15 from using social media, ruling that the legislation was unconstitutional. The law, championed by President Emmanuel Macron, was intended to address concerns about loneliness, bullying and the impact of social media on teenagers’ cognitive development. It would have prevented under-15s from creating new accounts from September, with a full ban on existing accounts planned for January.
The ruling could have wider implications as governments around the world consider similar restrictions on young teenagers’ social-media use. Critics argue that mandatory age verification could be technically difficult, threaten privacy and create problems for technology companies. France’s decision may therefore complicate efforts across Europe and elsewhere to introduce stricter online age limits, while increasing pressure on the EU to develop a common approach to protecting children online.
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TESLA PLANS NEW ROADSTER UNVEILING WITH A ‘FLYING’ STUNT AS EARLY AS THIS MONTH. - THE INFORMATION
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TRUMP ON TRUTH SOCIAL:
Our beautiful World War II Memorial was just hit by Spray Painting Vandals. THERE CAN BE NO GREATER INSULT TO THOSE AMERICAN HEROES WHO DIED IN WORLD WAR II. First the Reflecting Pool, now this. We are on their trail! Where do these animals come from??? President DJT
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Our beautiful World War II Memorial was just hit by Spray Painting Vandals. THERE CAN BE NO GREATER INSULT TO THOSE AMERICAN HEROES WHO DIED IN WORLD WAR II. First the Reflecting Pool, now this. We are on their trail! Where do these animals come from??? President DJT
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SpaceX Completes $60 Billion Acquisition of Cursor
SpaceX has completed its $60 billion acquisition of AI coding startup Cursor, marking one of the largest technology acquisitions ever. The deal became effective on August 14 and is part of Elon Musk’s effort to strengthen the company’s artificial-intelligence capabilities and compete more directly with rivals such as OpenAI and Anthropic. Cursor’s AI assistant helps software developers write and debug code more efficiently and has become a major player in the fast-growing AI coding market.
The acquisition is intended to accelerate SpaceX’s development of advanced AI tools and expand its software business. SpaceX and Cursor have already launched AI models focused on coding, finance and legal tasks, while SpaceX has also introduced AI-agent products and newer Grok models. Musk has emphasized that AI is central to the company’s future, saying he expects SpaceX’s AI revenue to surpass all other SpaceX revenue by September.
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SpaceX has completed its $60 billion acquisition of AI coding startup Cursor, marking one of the largest technology acquisitions ever. The deal became effective on August 14 and is part of Elon Musk’s effort to strengthen the company’s artificial-intelligence capabilities and compete more directly with rivals such as OpenAI and Anthropic. Cursor’s AI assistant helps software developers write and debug code more efficiently and has become a major player in the fast-growing AI coding market.
The acquisition is intended to accelerate SpaceX’s development of advanced AI tools and expand its software business. SpaceX and Cursor have already launched AI models focused on coding, finance and legal tasks, while SpaceX has also introduced AI-agent products and newer Grok models. Musk has emphasized that AI is central to the company’s future, saying he expects SpaceX’s AI revenue to surpass all other SpaceX revenue by September.
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A NATIONAL IRANIAN TANKER COMPANY VLCC SUPERTANKER IS SEEN TODAY (2026-08-14) LOADING 2 MILLION BARRELS OF CRUDE AT THE AZARPAD JETTY ON KHARG ISLAND, IRAN. ALTHOUGH THIS IS THE FIRST LOADING SIGHTED AT THE ISLAND SINCE THE END OF JULY, IRAN HAS CONTINUED LOADING TANKERS AT OTHER TERMINALS. THAT SAID, IRAN’S OIL PRODUCTION APPEARS TO BE ROUGHLY IN LINE WITH THE COUNTRY’S REFINERY RUNS (DOMESTIC CONSUMPTION), MEANING IT MAY NOT NEED TO EXPORT MUCH. - TANKERTRACKERS
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BRAZIL'S DURIGAN SAYS THEY MIGHT OR MIGHT NOT IMPLEMENT A RECIPROCAL RESPONSE TO U.S. TARIFFS.
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BRAZIL'S FINANCE MINISTER DURIGAN'S GOVERNMENT WILL TALK TO COMPANIES ABOUT THE RECIPROCITY PROCESS.
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DOW JONES DOWN 72.38 POINTS, OR 0.13 PERCENT, AT 53,767.61 AFTER MARKET OPEN
S&P 500 UP 6.21 POINTS, OR 0.08 PERCENT, AT 7,805.20 AFTER MARKET OPEN
NASDAQ UP 49.29 POINTS, OR 0.18 PERCENT, AT 26,852.32 AFTER MARKET OPEN
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S&P 500 UP 6.21 POINTS, OR 0.08 PERCENT, AT 7,805.20 AFTER MARKET OPEN
NASDAQ UP 49.29 POINTS, OR 0.18 PERCENT, AT 26,852.32 AFTER MARKET OPEN
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