Good Morning!
The US-Iran deal is being formalized despite a lot of back-and-forth, with fighting resuming in Lebanon and conflicting reports on the situation in the Strait, but generally, the market is now pricing in an end to the energy disruption. However, risk assets, and tech/AI specifically, have been selling off as they adjust to a more hawkish Fed and stretched positioning. SpaceX has pared almost all of its gains from its IPO.
Looking ahead, US data tomorrow is expected to be quite supportive, with GDP growth and personal spending forecast to accelerate vs. the previous print, while the PCE index is expected to remain stable. Next week, we get European inflation data, which is also expected to remain unchanged at 3.2%.
Important Dates
WE CALLED IT
HIT
PEAR — Long
+50%
$12M → $18M
MISS
SPCX — Long
-6.5%
$169 → $157.4
SHAZ
+291% spot gain
Hit TP2 of $90
Will hold 50% of initial position. Next TP level is $125.
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