The Philly Semiconductor Index is having its worst month since December 2002

Last 10 Years NVIDIA: +15.334 % Bitcoin: +9.632 % AMD: +8.838 % Tesla: +2.013 % Apple: +1.385 % Google: +750 % Netflix: +716 % Microsoft: +663 % Amazon: +525 % Meta: +396 % S&P 500: +299 % Gold: +194 % US-Inflation: +39 %

The US Strategic Petroleum Reserve is now at its lowest level since March 1983. Over the past 5 years we've seen a drawdown of 310 million barrels, a 50% decline.

Google reported negative free cash flow of $5.9 billion in Q2, driven by massive capital expenditures on AI infrastructure. This marks the first time in the company's public history that its quarterly free cash flow turned negative

Trump on Truth Social: From this point forward, any time the Islamic Republic of Iran shoots at a ship in the Strait of Hormuz, the US will bomb one bridge or power plant.

Trump: Every time Iran kills an American soldier, they will pay for that killing many times over - Truth Social.

National average gasoline price back above $4/gallon

Number of ships crossing Strait of Hormuz back to levels consistent with pre-MOU average

“Everybody’s profiting.” -President Trump Except the people who bought his coins... Trump family crypto earnings: $1.4 billion $TRUMP meme coin: -98% $MELANIA meme coin: -99% Perhaps the most blatant example of corruption in the history of American politics.

Semis just had a quarter for the history books: the SOX soared 88% in Q2 2026, marking chip stocks’ best quarter ever.

The S&P 500 Technology sector is on pace for back to back 10%+ monthly gains. Hasn't done that since March and April 2009 coming out of the Financial Crisis lows. Prior to 2009, the other four times: Nov/Dec 1998 Nov/Dec 1999 Oct/Nov 2001 Oct/Nov 2002

The Trump Administration and the US Treasury Department are designing a $250 bill featuring President Trump, per the Washington Post. If this is launched, President Trump would be the first living person to

U.S. Stock Market is worth more than $75 Trillion, more than the next 9 largest markets combined

Price changes over last year (April CPI report) Fuel Oil: +54.3% Gasoline: +28.4% Electricity: +6.1% Transportation: +4.3% Apparel: +4.2% Overall CPI: +3.8% Food away from home: +3.6% Shelter: +3.3% Medical Care: +3.2% Gas Utilities: +3.0% Food at home: +2.9% New Cars: +0.2% Used Cars: -2.7%

CPI food at home (essentially grocery prices) jumped by 0.68% m/m in April ... largest increase since August 2022

With headline inflation coming it at +3.8% y/y in April, that means real average hourly earnings growth (adjusted for CPI) slipped into negative territory for the first time since April 2023

Iran expected to submit a revised peace proposal soon - CNN

JPMorgan's CEO Dimon: The credit downturn will be worse than people think.

Iran can continue oil production and storage for up to 2 months - Tasnim, citing HFI Research.

The average price of a gallon of gas in the US rises to $4.18, the highest level since August 22. US oil prices are now trading around $100/barrel.

The S&P 500 Technology sector $XLK is now positive for 15 consecutive days, gaining over 21%. Never since the ETF’s launch in 1998 has such a long streak occurred.

Iran’s Foreign Minister Araghchi: Passage for all commercial vessels through Strait of Hormuz is declared completely open for the remaining period of ceasefire.

S&P 500 currently up 7.9%, making it the 6th best April since 1950.

Institutions are loading up on call options at the fastest pace

NASDAQ up 12 days in a row! This is historic momentum, and was bullish for both the NASDAQ and $SPX

VIX fell more than -40% in the past 13 days Historically, similar declines saw $SPX higher every time, 1 year later Average gain: +15% Max drawdown: -10.2%

Since 1928, this is the first time the S&P has made new all-time highs in 11 days or fewer after falling 5-10%.

Todays Scheduled CB Speakers ALL TIMES BST Fed Williams 1.35pm Fed Miran 3.35pm ECB Kazaks 1.30pm ECB Schnabel 2pm ECB Rehn 4.15pm/4.40pm ECB Villeroy/Kocher 5pm ECB Nagel 5.45pm ECB Lane 7.30pm BoE Taylor 4.40pm/8pm SNB Tschudin 5pm RBA Hunter 7.30pm

Trump says he is “trying to get a little breathing room between Israel and Lebanon” and “it will happen tomorrow.”

The S&P 500 spiked to a record high close today on news that the Strait of Hormuz has been blockaded, halting trade