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NASDAQ <50dma / 12th night of bombing, Brent $96, 6week highs / JGB's, UST's / GOOG's cashflows! / Rhein water levels

  • sc0172
  • 22 hours ago
  • 3 min read

  • Iran updates : Oil jumped after the Houthis said they attacked two Saudi Arabian tankers in the Red Sea, opening a new front in the conflict that has already snarled traffic through the Strait of Hormuz. The US military used a B-1 long-range bomber to strike targets in Iran, US signs deal with Saudi Arabia that could allow kingdom to enrich nuclear fuel

  • Russia forced to import fuel from India as Ukrainian strikes damage refineries. Shipment underlines crisis facing Moscow after drone attacks cut supplies and led to widespread shortages

  • Low Rhine water levels are raising cargo transport costs (some up 50% lately..) and disrupting logistics, with ships often running only partially loaded

  • Markets : Japan's long-term borrowing costs are now at the highest levels this century (JPY languishes near 4 decade lows), Alphabet lifts spending (Google burning through cash for the first time since going public decades ago as it raised its spending forecast for AI infrastructure, blows its cashflows on a bet), TSLA lower after earnings, crude 6 week highs, Brent $96 again!, UST yields higher 10's 4.67% (Chinese Holdings of U.S. Treasuries plunge to lowest level since the Global Financial Crisis), US officials threaten to sanction Chinese AI startups after Moonshot release, the ECB will probably pause from hiking rates further today as it weighs the impact of re-escalation in the war, Nasdaq 100 #QQQ has now closed below its 50-day moving average for 6 straight days, the longest stretch since early April, #GOOG just closed below its 100-day moving average for only the 2nd time since early April, #SILVER chats looking bullish again (GOLD, XPTUSD all been forming a base last 6weeks or so,

  • #URA Trump approves nuclear agreement that may allow Saudi Arabia to enrich uranium >> The timing of the announcement is, to put it mildly, interesting

  • Jamie Dimon is skeptical the massive AI boom will pay off as quickly as expected. Still, he isn't ruling out wild solutions, saying SpaceX’s data centers in space could actually work




Another take on Google from Bob Elliott: “Since 1Q24 Google has generated ~30bln in excess earnings in their cloud unit, but has paid ~140bln in capex to get it, not a particularly compelling return, certainly not good enough to blow all their free cashflow on the bet.”!!





























 
 
 

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