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The SpaceX IPO Could Trigger a Tech Selloff
The NASDAQ 100 could sharply selloff ahead of the SpaceX IPO, a week from this Friday on June 12th. Big tech winners could selloff in order for fund managers to raise money for the SpaceX ( SPCX ) IPO.
While the prevailing narrative predicts a massive post-IPO rally, the sheer scale of the listing could trigger a sharp tech selloff beforehand as investors scramble to raise cash.
#SpaceX $SPCX $SPX $SPY $QQQ $NDX #SP500 #SPCX
#BREAKING: When asked if he would accept a short-term deal that would allow Iran and Oman to control the Strait of Hormuz, US President Donald Trump says that "nobody is gonna control it" and that "Oman will behave just like everyone else or we'll have to blow them up"
"The strait’s gonna be open to everybody," says Trump
The 10-day correlation between $VIX and $VVIX was 81% 3 days ago and that has dropped to its second lowest level of the past year to 19% in just 3 days.
The last time the correlation dropped that low, $VIX made a multi-month run from below 15 to above 30.
FED'S PAULSON: NOT OBSERVING FACTORS BACKING PERSISTENT INFLATION || MARKET FORESEES EXTENDED PAUSE ON RATES • MONETARY POLICY PRESENTLY WELL SITUATED • LABOUR MARKET FIRM, CONSUMPTION MODERATING YET STURDY • SCENARIOS SHOWING ADDITIONAL TIGHTENING ALSO FAVORABLE • CONSUMERS STRAINED BUT NOT RETREATING IN TOTAL • RATE REDUCTIONS WARRANTED ONLY WITH CONSISTENT ADVANCEMENT ON INFLATION
Somehow Trump initiated a short covering rally by cancelling an attack on Iran that no one thought was going to happen in the first place.
We are being mind fucked daily by a demented geezer with the IQ of a dead pigeon. A scumbag pedophile and the most corrupt president in U.S. history. A naked emperor front-running the market while CEOs take turns on their knees "appeasing" him.
Make no mistake when this record global disaster explodes with biblical dislocation this will be No Country For Circus Donny. And CEOs are going to look like total idiots.
Trust will be gone and never coming back.
For a lot of geezers THIS is the endgame.
🇺🇸 The rolling 30-day correlation between the S&P 500 and the US 10y Treasury yield is -0.6768.
The lowest since September 1999!
Chart: Kevin Gordon
INVESTORS WEIGHING INFLATION RISKS FROM ELEVATED OIL PRICES AGAINST SLOWING-GROWTH CONCERNS FROM PROLONGED MIDDLE EAST CONFLICT; DRONE ATTACK NEAR UAE NUCLEAR SITE ADDS TO GEOPOLITICAL TENSIONS
The last time U.S PPI surpassed the 6% threshold from below was in April 2021. It kept rising until it peaked at 11.3% in June 2022. The Fed started raising rates only in March 2022 and that resulted in CPI rising to 9.3% in June 2022. What will the Fed do this time?