> ELON MUSK HAS LOST $350B IN DAYS AS SPACEX $SPCX DROPS 31%. MONDAY'S DROP ALONE WIPED OUT $152B, THE EQUIVALENT OF ERASING ALL OF $UBER
HE LOST MORE IN A SINGLE DAY THAN WARREN BUFFETT'S ENTIRE $145B FORTUNE. SPCX HAS NOW FALLEN BELOW ITS DEBUT CLOSE, ERASING ALL ITS POST‑IPO GAINS. CATHIE WOOD'S ARK IS BUYING THE DIP.
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HE LOST MORE IN A SINGLE DAY THAN WARREN BUFFETT'S ENTIRE $145B FORTUNE. SPCX HAS NOW FALLEN BELOW ITS DEBUT CLOSE, ERASING ALL ITS POST‑IPO GAINS. CATHIE WOOD'S ARK IS BUYING THE DIP.
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> TRUMP SIGNS EXECUTIVE ORDERS TO ACCELERATE US QUANTUM COMPUTING.
THE ORDERS TARGET A RESEARCH‑READY QUANTUM COMPUTER BY 2028, PREPARE THE US FOR QUANTUM THREATS TO ENCRYPTION, AND DIRECT BILLIONS IN FEDERAL SUPPORT TOWARD THE SECTOR.
A MONTH AGO THE WHITE HOUSE INVESTED IN 6 QUANTUM STOCKS:
1. IBM ($IBM)
RECEIVED $1B IN FUNDING.
ONE OF THE WORLD'S LEADING QUANTUM COMPUTING COMPANIES, OPERATING A LARGE FLEET OF QUANTUM SYSTEMS THROUGH IBM QUANTUM.
2. INFLEQTION
RECEIVED $100M IN FUNDING.
FOCUSED ON NEUTRAL‑ATOM QUANTUM COMPUTING, QUANTUM SENSORS, ATOMIC CLOCKS AND QUANTUM SOFTWARE.
3. RIGETTI ($RGTI)
RECEIVED $100M IN FUNDING.
DEVELOPS AND OPERATES SUPERCONDUCTING QUANTUM PROCESSORS.
4. D‑WAVE ($QBTS)
RECEIVED $100M IN FUNDING.
A PIONEER IN QUANTUM COMPUTING SYSTEMS FOCUSED ON SOLVING COMPLEX OPTIMIZATION PROBLEMS.
5. GLOBALFOUNDRIES ($GFS)
RECEIVED $100M IN FUNDING.
MAJOR SEMICONDUCTOR FOUNDRY THAT RECENTLY LAUNCHED A DEDICATED QUANTUM TECHNOLOGY BUSINESS.
6. HONEYWELL ($HON)
RECEIVED $100M IN FUNDING.
ITS QUANTUM EFFORTS ARE PRIMARILY THROUGH QUANTINUUM, ONE OF THE LEADING QUANTUM COMPUTING COMPANIES.
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THE ORDERS TARGET A RESEARCH‑READY QUANTUM COMPUTER BY 2028, PREPARE THE US FOR QUANTUM THREATS TO ENCRYPTION, AND DIRECT BILLIONS IN FEDERAL SUPPORT TOWARD THE SECTOR.
A MONTH AGO THE WHITE HOUSE INVESTED IN 6 QUANTUM STOCKS:
1. IBM ($IBM)
RECEIVED $1B IN FUNDING.
ONE OF THE WORLD'S LEADING QUANTUM COMPUTING COMPANIES, OPERATING A LARGE FLEET OF QUANTUM SYSTEMS THROUGH IBM QUANTUM.
2. INFLEQTION
RECEIVED $100M IN FUNDING.
FOCUSED ON NEUTRAL‑ATOM QUANTUM COMPUTING, QUANTUM SENSORS, ATOMIC CLOCKS AND QUANTUM SOFTWARE.
3. RIGETTI ($RGTI)
RECEIVED $100M IN FUNDING.
DEVELOPS AND OPERATES SUPERCONDUCTING QUANTUM PROCESSORS.
4. D‑WAVE ($QBTS)
RECEIVED $100M IN FUNDING.
A PIONEER IN QUANTUM COMPUTING SYSTEMS FOCUSED ON SOLVING COMPLEX OPTIMIZATION PROBLEMS.
5. GLOBALFOUNDRIES ($GFS)
RECEIVED $100M IN FUNDING.
MAJOR SEMICONDUCTOR FOUNDRY THAT RECENTLY LAUNCHED A DEDICATED QUANTUM TECHNOLOGY BUSINESS.
6. HONEYWELL ($HON)
RECEIVED $100M IN FUNDING.
ITS QUANTUM EFFORTS ARE PRIMARILY THROUGH QUANTINUUM, ONE OF THE LEADING QUANTUM COMPUTING COMPANIES.
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> DOLLAR SURGES TO ONE-YEAR HIGH ON RATE BETS
THE U.S. DOLLAR HIT A ONE-YEAR HIGH TUESDAY AS SAFE-HAVEN DEMAND GREW AMID UNCERTAINTY OVER U.S.-IRAN TALKS AND RISING EXPECTATIONS OF FEDERAL RESERVE RATE HIKES. THE DXY INDEX REACHED 101.186, WHILE THE EURO FELL TO A 10-MONTH LOW. STRONG U.S. GROWTH SIGNALS AND HIGHER BOND YIELDS ARE SUPPORTING THE DOLLAR, THOUGH ANALYSTS WARN FURTHER GAINS MAY SLOW AS SOME POSITIVE FACTORS FADE.
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THE U.S. DOLLAR HIT A ONE-YEAR HIGH TUESDAY AS SAFE-HAVEN DEMAND GREW AMID UNCERTAINTY OVER U.S.-IRAN TALKS AND RISING EXPECTATIONS OF FEDERAL RESERVE RATE HIKES. THE DXY INDEX REACHED 101.186, WHILE THE EURO FELL TO A 10-MONTH LOW. STRONG U.S. GROWTH SIGNALS AND HIGHER BOND YIELDS ARE SUPPORTING THE DOLLAR, THOUGH ANALYSTS WARN FURTHER GAINS MAY SLOW AS SOME POSITIVE FACTORS FADE.
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> BITCOIN SLIDES AS TECH SELLOFF HITS RISK ASSETS
BITCOIN DROPPED TO A TWO-WEEK LOW OF $61,877 AS A TECHNOLOGY STOCK SELLOFF FUELED A BROADER RISK-OFF MOOD.
OTHER MAJOR CRYPTOCURRENCIES ALSO DECLINED, WITH ETHER, SOLANA, AND XRP POSTING LOSSES.
THE DECLINE FOLLOWED RENEWED CONCERNS OVER HEAVY AI SPENDING AND WEAKER TECH SENTIMENT. BITCOIN ETFS HAVE SEEN $2.4 BILLION IN JUNE OUTFLOWS, ADDING PRESSURE ON THE MARKET.
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BITCOIN DROPPED TO A TWO-WEEK LOW OF $61,877 AS A TECHNOLOGY STOCK SELLOFF FUELED A BROADER RISK-OFF MOOD.
OTHER MAJOR CRYPTOCURRENCIES ALSO DECLINED, WITH ETHER, SOLANA, AND XRP POSTING LOSSES.
THE DECLINE FOLLOWED RENEWED CONCERNS OVER HEAVY AI SPENDING AND WEAKER TECH SENTIMENT. BITCOIN ETFS HAVE SEEN $2.4 BILLION IN JUNE OUTFLOWS, ADDING PRESSURE ON THE MARKET.
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> TECH SELLOFF DRAGS US STOCK FUTURES LOWER
US EQUITY FUTURES FELL SHARPLY TUESDAY AS INVESTORS QUESTIONED THE OUTLOOK FOR AI SPENDING AND RETURNS.
NASDAQ 100 FUTURES DROPPED 2.5%, S&P 500 FUTURES FELL 1.3%, AND DOW FUTURES SLIPPED 0.6%.
AI GIANTS, CHIPMAKERS, AND SPACEX FACED HEAVY SELLING AS CONCERNS GREW OVER EXCESSIVE INFRASTRUCTURE SPENDING.
HIGHER TREASURY YIELDS AND PRESSURE ON FINANCIAL FIRMS ADDED TO THE MARKET’S CAUTIOUS MOOD.
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US EQUITY FUTURES FELL SHARPLY TUESDAY AS INVESTORS QUESTIONED THE OUTLOOK FOR AI SPENDING AND RETURNS.
NASDAQ 100 FUTURES DROPPED 2.5%, S&P 500 FUTURES FELL 1.3%, AND DOW FUTURES SLIPPED 0.6%.
AI GIANTS, CHIPMAKERS, AND SPACEX FACED HEAVY SELLING AS CONCERNS GREW OVER EXCESSIVE INFRASTRUCTURE SPENDING.
HIGHER TREASURY YIELDS AND PRESSURE ON FINANCIAL FIRMS ADDED TO THE MARKET’S CAUTIOUS MOOD.
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> JUST IN: 🇪🇺 RIPPLE RECEIVES PRELIMINARY MICA APPROVAL TO OFFER REGULATED CRYPTO PAYMENT SERVICES ACROSS EUROPE.
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> ISRAELI MILITARY SAYS IT STRUCK 'ARMED TERRORISTS' WHO POSED AN IMMEDIATE THREAT TO SOLDIERS OPERATING IN THE SECURITY ZONE IN SOUTHERN LEBANON
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> IRAN SAYS NEGOTIATORS LEAVE MUSCAT AFTER TALKS
IRAN REPORTS ITS NEGOTIATING TEAM DEPARTED MUSCAT FOR TEHRAN AFTER TALKS WITH OMANI OFFICIALS.
QALIBAF DISCUSSED ARRANGEMENTS ON MANAGING THE STRAIT OF HORMUZ WITH OMAN, FOCUSING ON STABILIZATION OF OPERATIONAL FRAMEWORKS.
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IRAN REPORTS ITS NEGOTIATING TEAM DEPARTED MUSCAT FOR TEHRAN AFTER TALKS WITH OMANI OFFICIALS.
QALIBAF DISCUSSED ARRANGEMENTS ON MANAGING THE STRAIT OF HORMUZ WITH OMAN, FOCUSING ON STABILIZATION OF OPERATIONAL FRAMEWORKS.
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> $BABA - LAZADA CUTS 5% OF WORKFORCE
ALIBABA-OWNED LAZADA IS LAYING OFF 5% OF ITS WORKFORCE ACROSS SOUTHEAST ASIA AS IT STREAMLINES OPERATIONS AND FOCUSES ON EFFICIENCY.
THE MOVE COMES AMID FIERCE E-COMMERCE COMPETITION AND GROWING AI ADOPTION.
LAZADA’S REGIONAL MARKET SHARE FELL TO 11% IN 2024 FROM 24% IN 2020, WHILE RIVAL SHOPEE HELD 53%. REVENUE AT LAZADA DECLINED 3% IN ITS LATEST FISCAL YEAR.
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ALIBABA-OWNED LAZADA IS LAYING OFF 5% OF ITS WORKFORCE ACROSS SOUTHEAST ASIA AS IT STREAMLINES OPERATIONS AND FOCUSES ON EFFICIENCY.
THE MOVE COMES AMID FIERCE E-COMMERCE COMPETITION AND GROWING AI ADOPTION.
LAZADA’S REGIONAL MARKET SHARE FELL TO 11% IN 2024 FROM 24% IN 2020, WHILE RIVAL SHOPEE HELD 53%. REVENUE AT LAZADA DECLINED 3% IN ITS LATEST FISCAL YEAR.
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> IRAN'S TOP NEGOTIATOR QALIBAF SAYS TEHRAN AND MUSCAT ESTABLISHED A JOINT COMMITTEE TO DISCUSS THE STRAIT OF HORMUZ, SAYS DETAIL PENDING - TELEGRAM ACCOUNT
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> RIPPLE $XRP SECURES PRELIMINARY MICA APPROVAL, CLEARING THE WAY FOR REGULATED CRYPTO PAYMENT SERVICES ACROSS EUROPE
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> THE PENTAGON IS ASKING CONGRESS FOR $80B TO COVER THE COST OF THE US WAR ON IRAN, NEARLY TRIPLE THE $29B IT ESTIMATED JUST LAST MONTH | PER AP
NO FORMAL WHITE HOUSE REQUEST YET, BUT HEGSETH'S BEEN WORKING THE CAPITOL AND A DEPUTY BRIEFED SENATORS LAST WEEK. IT'S RUNNING INTO A WALL: LAWMAKERS SKEPTICAL OF TRUMP'S IRAN DEAL DON'T WANT TO FUND THE WAR, WITH ONE DEMOCRAT SAYING HE "HASN'T FOUND ANYONE WHO WANTS TO DO THIS." SITS ON TOP OF A RECORD $1.5T PENTAGON BUDGET ASK. SENATORS WARN THE REAL PRICE TAG COULD GO HIGHER.
DEVELOPING.
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NO FORMAL WHITE HOUSE REQUEST YET, BUT HEGSETH'S BEEN WORKING THE CAPITOL AND A DEPUTY BRIEFED SENATORS LAST WEEK. IT'S RUNNING INTO A WALL: LAWMAKERS SKEPTICAL OF TRUMP'S IRAN DEAL DON'T WANT TO FUND THE WAR, WITH ONE DEMOCRAT SAYING HE "HASN'T FOUND ANYONE WHO WANTS TO DO THIS." SITS ON TOP OF A RECORD $1.5T PENTAGON BUDGET ASK. SENATORS WARN THE REAL PRICE TAG COULD GO HIGHER.
DEVELOPING.
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> $SPCX - SPACEX SLIDES TOWARD $2 TRILLION THRESHOLD
SPACEX SHARES FELL MORE THAN 4% IN PREMARKET TRADING, PUTTING THE COMPANY ON TRACK FOR A MARKET VALUE BELOW $2 TRILLION FOR THE FIRST TIME SINCE ITS IPO.
THE STOCK TRADED NEAR $148, SLIPPING BELOW ITS JUNE 12 DEBUT PRICE OF $150.
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SPACEX SHARES FELL MORE THAN 4% IN PREMARKET TRADING, PUTTING THE COMPANY ON TRACK FOR A MARKET VALUE BELOW $2 TRILLION FOR THE FIRST TIME SINCE ITS IPO.
THE STOCK TRADED NEAR $148, SLIPPING BELOW ITS JUNE 12 DEBUT PRICE OF $150.
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> DEUTSCHE BANK CUTS GOLD OUTLOOK
DEUTSCHE BANK LOWERED ITS GOLD FORECAST, CITING A HAWKISH FED, RESILIENT U.S. DATA AND WEAK INVESTMENT DEMAND.
THE BANK NOW SEES GOLD AT $4,800/OZ IN Q4 BUT WARNS PRICES COULD FALL TO $3,800/OZ IF THE FED DELIVERS MULTIPLE RATE HIKES.
ETF OUTFLOWS, WEAK FUTURES POSITIONING AND SOFTER DEMAND FROM CHINA AND INDIA ARE WEIGHING ON PRICES, WHILE CENTRAL BANK BUYING REMAINS THE MAIN SUPPORT.
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DEUTSCHE BANK LOWERED ITS GOLD FORECAST, CITING A HAWKISH FED, RESILIENT U.S. DATA AND WEAK INVESTMENT DEMAND.
THE BANK NOW SEES GOLD AT $4,800/OZ IN Q4 BUT WARNS PRICES COULD FALL TO $3,800/OZ IF THE FED DELIVERS MULTIPLE RATE HIKES.
ETF OUTFLOWS, WEAK FUTURES POSITIONING AND SOFTER DEMAND FROM CHINA AND INDIA ARE WEIGHING ON PRICES, WHILE CENTRAL BANK BUYING REMAINS THE MAIN SUPPORT.
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> OMAN, IRAN STRESS ON THEIR "SOVEREIGN RIGHTS IN THEIR TERRITORIAL WATERS IN HORMUZ STRAIT" - JOINT STATEMENT
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> OMAN, IRAN SAY THEY ARE COMMITTED TO ENSURING SAFE PASSAGE THROUGH HORMUZ STRAIT - JOINT STATEMENT
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> OMAN, IRAN BACK STRAIT OF HORMUZ COOPERATION
OMAN AND IRAN REAFFIRMED SUPPORT FOR THE U.S.-IRAN ISLAMABAD MEMORANDUM OF UNDERSTANDING AND PLEDGED CONTINUED DIALOGUE ON ITS IMPLEMENTATION.
THE TWO COUNTRIES AGREED TO WORK JOINTLY ON THE FUTURE MANAGEMENT OF NAVIGATION IN THE STRAIT OF HORMUZ, WHILE EMPHASIZING RESPECT FOR THEIR SOVEREIGNTY AND TERRITORIAL WATERS.
BOTH SIDES ALSO COMMITTED TO KEEPING THE STRAIT SAFE AND OPEN FOR INTERNATIONAL SHIPPING AND STRENGTHENING REGIONAL MARITIME SECURITY.
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OMAN AND IRAN REAFFIRMED SUPPORT FOR THE U.S.-IRAN ISLAMABAD MEMORANDUM OF UNDERSTANDING AND PLEDGED CONTINUED DIALOGUE ON ITS IMPLEMENTATION.
THE TWO COUNTRIES AGREED TO WORK JOINTLY ON THE FUTURE MANAGEMENT OF NAVIGATION IN THE STRAIT OF HORMUZ, WHILE EMPHASIZING RESPECT FOR THEIR SOVEREIGNTY AND TERRITORIAL WATERS.
BOTH SIDES ALSO COMMITTED TO KEEPING THE STRAIT SAFE AND OPEN FOR INTERNATIONAL SHIPPING AND STRENGTHENING REGIONAL MARITIME SECURITY.
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