S&P momentum! / BTC 60K key support / PM, Iron Ore, Copper testing support levs / KOSPI / BYD vs Porsche
- sc0172
- Jun 5
- 3 min read
Iran updates : Trump says he could meet Iran’s supreme leader ‘if it was to make a deal’, China's Xi to visit North Korea next week, first time since 2019
Markets: S&P momentum index (2months % change near 30% - another big warning sign - chart available on request), Deutsche Bank on the huge stock market run-up: "Since WWII, the only other time the S&P 500 has risen this rapidly (except after a recession) was months before a huge market crash.", Oracle is cutting 30,000 employees by June 15, roughly 18% of its global workforce, PM's testing key support (GOLD 200dma $ 4430, Silver 71.50, BTC through 60K would send alarm bells for the bulls, Iron Ore lower, Copper softer etc.. >>> sign of slower economy, stronger USD ahead of the biggest bigly ever IPO, where you can take a view on 'valuations' or the future, India CB cuts (lower growth outlook), S&P Dow Jones will not change rules to make it easier for SpaceX $SPCX to get fast track entry into the S&P 500 (this after NASDAQ did change rules),
Across 50+ central banks worldwide, the number of rate hikes exceeded the number of cuts in May, first time it has happened since Oct 2023... a turn!
RBI may have sold nearly $12 billion worth of Gold lately #USD liquidity !
Chinese EVs are cheap and popular — so why not let them flood western markets? Soumaya Keynes and Paul Krugman weigh the arguments on whether the US and Europe should embrace China's comparative advantage in the sector/Podcast
South Korea labour minister calls on tech firms to share excess AI profits with suppliers, staff down sharply
Bitcoin was sold as the asset that survives geopolitical chaos. The chaos arrived. Bitcoin bled/Thread (...and Saylor who would never ever sell BTC, sold some at $77k)
BYD opens first German Denza store in posh Hamburg neighbourhood, takes aim at Porsche
30 mins podcast
STRATEGY'S BITCOIN U-TURN:WSJ For years, Michael Saylor urged investors to never sell bitcoin—famously saying, “Sell a kidney if you must, but keep the bitcoin.” Now, his company, Strategy, is preparing to sell part of its bitcoin holdings to remain solvent. The irony is hard to miss: Saylor still appears to have both kidneys.
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