Baltic
Dry Index. 1553 -112 Brent Crude 68.12
Spot Gold 3295 US 2 Year Yield 3.70 -0.04
US Federal Debt. 37.029 trillion
US GDP 30.097 trillion.
“People don't start
wars, governments do.
Ronald Reagan
In the stock casinos, more Great Disconnect. All news is good news again.
Isn’t President Trump is about to force US interest rates lower.
The massive US debt, 23 percent larger than US GDP and rising, doesn’t matter.
China’s industrial profits falling for a seventh month, so what.
More trouble for Boeing’s 787, its good news.
US foreign tourism collapsing in response to President Trump’s tariffs and insults, who needs them?
US consumer confidence readings predicting recession, buy more stocks! What could possibly go wrong?
Japan’s Nikkei hits 6-month high as Asia-Pacific
markets track gains on Wall Street
Updated Fri, Jun 27 2025 11:31 PM EDT
Asia-Pacific markets mostly rose Friday,
tracking Wall Street’s gains after White House spokesperson Karoline
Leavitt downplayed the impending start of the tariff deals, which have
weighed on investor sentiment.
July 8 is when the so-called liberation
day tariffs are set to take effect after a 90-day pause, and July 9 is the
deadline for an EU deal to avoid 50% tariffs.
“The deadline is not critical,” said
Leavitt. “Perhaps it could be extended, but that’s a decision for the
president to make.”
Japan’s benchmark Nikkei 225 climbed 1.59% to
a six-month
high and crossed the 40,000 mark for the first time since Jan. 7,
while the broader Topix index advanced 1.3%.
The country’s capital city
of Tokyo saw core consumer price index excluding fresh food and fuel
rise 3.1% year on year in June, slower than the 3.6% increase seen
in the previous month, and the 3.3% gain penciled by economists polled by
Reuters.
In South Korea, the Kospi index fell 0.76%,
while the small-cap Kosdaq dropped by 0.57%.
Hong Kong’s Hang Seng Index added 0.1%,
while mainland China’s CSI 300 index increased
by 0.31% after data released by the National Bureau of Statistics showed
that the country’s industrial profits fell
9.1% year on year in the first five months of the year.
Over in Australia, the S&P/ASX 200 benchmark
was flat.
U.S.
stock futures were near the flatline in early Asian hours as investors
awaited the release of several data points, including inflation, personal
income, consumer spending and consumer sentiment.
Overnight
stateside, the S&P 500 rose
to within a whisker of a new record high, as the broad market index overcame a
slew of macroeconomic challenges including tariff wars, geopolitical tensions
and sticky inflation.
The S&P 500 climbed 0.8% to close at
6,141.02, bringing its gain on the week to 2.9% and putting it just a few
points away from its intraday all-time high of 6,147.43 in late February.
The Nasdaq Composite advanced
0.97% to 20,167.91, also inches away from a new record. The Dow Jones Industrial Average increased
by 404.41 points, or 0.94%, to 43,386.84.
Asia stock markets today: live updates
CNBC Daily Open: Wall Street is chill, cheeky and
cruising
Published Thu, Jun 26 2025 9:02 PM EDT
Markets this week? Totally unbothered —
like they’re on a beach somewhere, sipping a cold drink and ignoring the
headlines.
Geopolitical tensions flared (again), oil
prices plunged, and defense stocks couldn’t make up their mind — but the
broader market? Barely blinked. The S&P 500 flirted with record highs, the
Nasdaq kept cruising thanks to its AI darlings, and even small caps got in on
the action. It’s almost as if investors looked at the chaos and said, “Meh,
we’re good.”
What’s driving this chilled-out mood? Part
of it is rate-cut optimism creeping back in. Oil’s sudden drop took some
inflation pressure off the table, and dovish murmurs from the Fed gave traders
just enough hope that September could be in play for a cut. Bond yields eased,
and risk appetite returned.
Sure, there are risks everywhere — from
Middle East tensions to stretched valuations in some corners of the market —
but right now, Wall Street seems to be in full summer mode. Cool, calm, and
slightly detached.
Will it last? Hard to say. Markets have a
habit of waking up just when you least expect it. But for now, they’re tuning
out the noise and catching rays.
What you need to know today
Tariff pause “could be extended.′′ Trump’s
“reciprocal” tariffs are set to resume early July, but White House Press
Secretary Karoline Leavitt told reporters on Thursday the deadlines
are “not critical” and will depend on the U.S. President’s decision.
U.S. markets advanced Thursday. Buoyed by
Leavitt’s comments, the S&P
500 closed at 6,141.02, just a
few points away from its intra-day high. The Stoxx Europe 600 ticked up
0.09%. Mining and defense stocks were among the
biggest gainers.
Tesla’s vice president of manufacturing
and operations is out. Omead Afshar was fired
by CEO Elon Musk amid declining
sales in key
markets. Chinese technology company Xiaomi on Thursday priced a
new electric SUV lower than Tesla’s Model Y.
Nike expects a $1 billion hit from
tariffs. During
an earnings call on Thursday, Nike’s finance
chief said the company will tweak its
supply chains and increase prices to “mitigate” that cost. Nike beat
Wall Street expectations for fiscal fourth-quarter earnings.
[PRO] Three AI stocks to play. Swiss banking
giant UBS highlighted
three pillars of artificial intelligence that will drive demand, and picked
what it thinks will be winners
in the space.
— Yeo Boon Ping
CNBC
Daily Open: Wall Street is chill, cheeky and cruising
America’s Very Bad Mood Bodes Ill
for Tone-Deaf Wall Street
June 26, 2025 at 11:18 PM GMT+1
American consumers aren’t feeling
great. They’ve been
feeling bad about everything from prices to the stock market. They’ve
felt so bad, in fact, that Michigan’s Index of Consumer Sentiment was
stuck at one of its worst readings on record for two months this spring after
plunging 29% in the first four months of 2025.
Over the 79 years of the survey, a drop
this large this fast has almost always predicted a recession. Sentiment
readings improved slightly at the start of June but still indicate Americans
expect much higher prices and a much slower economy in the coming year.
It’s “dangerous to overlook” such negative
consumer sentiment, says Joanne Hsu, the director of the University of
Michigan’s Surveys of Consumers. But that’s exactly what Wall Street’s been
doing: As so-called soft indicators remain low, hard economic data
like jobs are mostly holding up. Stocks have roared
back from April lows.
It’s clear to Hsu that many investors and
analysts don’t really understand the data they’re dismissing. And the
survey is rarely wrong. In 1974, for instance, it spotted the worst recession
since World War II, while ever-rising sales of TVs, cars and other consumer
goods were tricking economists into thinking things were fine. When Wall Street
eventually feels the negative vibes, more investors may
find themselves in the mood to sell. —Jordan
Parker Erb
America’s
Very Bad Mood Bodes Ill for Tone-Deaf Wall Street - Bloomberg
China’s industrial profits plunge 9.1%, steepest
fall in seven months
Published Thu, Jun 26 2025 9:40 PM EDT
China’s industrial profits plunged 9.1% in
May from a year earlier, in the latest sign that Beijing’s stimulus efforts are
falling short in boosting enterprises’ profitability.
That marked the largest monthly decline
since October last year, when the industrial profits dropped 10%. Industrial
profits are a key measure of the financial health of factories, mines and
utilities in China.
Cumulative profits at major industrial
firms fell 1.1% in the first five months of 2025, compared to a year
earlier, the data showed.
The statistics bureau attributed the sharp decline in May to insufficient
domestic demand and lower prices for industrial products.
In September last year, industrial profits
recorded an eye-watering 27.1% year-on-year drop, leading Beijing to ramp up
stimulus in its bid to reverse the slump in corporate earnings.
During the five-month period, the mining
industry saw profits decline 29%, while manufacturing and utility industries
saw modest profit gains.
Profits in the automotive manufacturing
sector dropped 11.9% from a year earlier.
State-owned firms recorded a 7.4% drop in
profits in the first five months, while non-state-owned businesses saw profits
fall 1.5%.
Foreign industrial firms, including those
with investments from Hong Kong, Macau and Taiwan, saw a modest profit rise of
0.3% in the January to May period from a year ago.
The data followed a mixed bag of economic
data out of China last month. China’s retail sales grew at their fastest rate
since late 2023 in May, rising
6.4% from a year ago, as government subsidies helped boost
consumption, while industrial output and fixed-asset investment both missed
expectations.
More
China's
industrial profits plunge 9.1% in May
In other news, more problems with the Boeing 787. Approx. 8 minutes.
FAA Just Revealed a Fatal Flaw in Boeing
787 – Why No One Is Talking About It…
FAA Just Revealed a Fatal Flaw in Boeing
787 – Why No One Is Talking About It…
Global Inflation/Stagflation/Recession
Watch.
Given
our Magic Money Tree central banksters and our spendthrift politicians,
inflation now needs an entire section of its own.
Fear
of a global recession is now the main economic worry among Irish households
25
June 2025
The
risk of a global recession has emerged as the biggest economic concern for
Irish households.
It
has jumped ahead of both the cost of housing and rent, and inflation, as a
major worry for consumers, according to the latest Bank of Ireland’s Savings
and Investment Index.
Plans
by US president Donald Trump to impose tariffs and the threats to economic
growth from the conflict in the Middle East mean geopolitical events are taking
centre stage for householders.
Bank
of Ireland’s Savings and Investment Index for the second quarter of this year
shows concern about a global recession was the number-one worry for 21pc of
those surveyed.
This
is up 8pc on the last survey in the first three months of the year.
The
concern is highest among those aged 30 to 59, and among professional/managerial
groups.
Housing
and rental costs continue to dominate concerns faced by younger age groups.
Some 28pc of 16 to 29-year-olds cited the cost of housing/rent as their biggest
worry.
Another
24pc of this age group view inflation and the cost of living as their biggest
concern.
There
was a fall in the proportion of people who say they are saving and in those who
believe they are saving enough.
The
Savings and Investment Index dropped to 87, down from 94 in the first three
months of this year.
Investing
habits remained largely unchanged, with an increase in the amount being
invested compared with last quarter. Despite this, more than half of consumers
believe stock markets will be lower in the next six months.
Chief
investment strategist at Bank of Ireland Kevin Quinn said: “The increase in
concerns about global recession comes at a time when geopolitics has taken
centre stage, so it’s the first time we’ve seen this come to such prominence in
our survey.”
Mr
Quinn said global investment markets had experienced a steep downturn in April
and headlines about an effective trade embargo had dominated those weeks.
“Markets
have recovered significantly since then with a powerful rally from mid-April
onwards, but that hasn’t moved the dial for Irish households yet,” he said.
“With
tariffs dominating public discourse up until quite recently and the Israel-Iran
conflict now to the fore, it’s little surprise that these concerns are
prominent.
“It’s
also no surprise to see housing concerns and the cost of living remaining
uppermost amongst younger age groups.”
More
Fear of a global
recession is now the main economic worry among Irish households
Middle
East crisis clouds outlook for interest rates: Bailey sounds alarm amid
stagflation fears
25
June 2025
The
governor of the Bank of England has warned that unpredictable events in the
Middle East are creating a further headache over interest
rates.
Andrew
Bailey made the comments to peers as oil prices retreated from a spike earlier
in the week amid rapidly changing developments in the conflict between Israel
and Iran.
‘It
is so unpredictable at the moment that as we saw in the last 24 hours it can
easily change overnight,’ he told the Lords’ economic affairs committee.
Oil
price volatility is an issue for the Bank as higher prices can push up inflation – making it
harder to cut interest rates.
It
adds to the difficulty for the Bank as it is already facing the spectre of
stagflation – a scenario when the economy flatlines while inflation spirals.
The
prospect of such a scenario was raised yesterday by another Bank of England
official, Megan Greene.
The
oil price soared to more than $80 earlier in the week after the US bombed
Iran’s nuclear sites.
But
it came down sharply to below $70 yesterday as Donald Trump declared there had
been a ceasefire and fears eased that Iran would block global oil supplies in
retaliation.
Bailey
told peers: ‘We’ve seen so far rather a big turnaround overnight in terms of
the situation with the oil price.’
Trump’s
tariff wars are adding to the chaotic mix, as a 90-day pause in the worst of
the levies comes to an end. Bailey said: ‘It is very unpredictable where this
is all going to end up.’
And
he pointed out that the impact of trade wars on UK inflation is hard to
forecast.
It
could mean cheap Chinese goods blocked from the US market flooding the UK and
bringing down prices. Or it could mean supply chain disruption that pushes
prices up.
Bailey
said he was not ‘putting that high a weight’ on the latest global developments
when deciding on interest rates given the volatility.
But
he cautioned that it made it even harder to signal the future path of rates. He
added: ‘I would never give a prediction about what the next meeting will do
anyway, but in these circumstances we are particularly careful about what we
say on that front because the world is just so uncertain.’
More
Middle East crisis
clouds outlook for interest rates: Bailey sounds alarm amid stagflation fears
Covid-19
Corner
This
section will continue only occasionally when something of interest occurs.
Technology
Update.
With events happening fast in the
development of solar power and graphene, among other things, I’ve added this
section. Updates as they get reported.
Anker Recalls 1.1 Million Power Banks for Fires and Explosions:
How to Get a Free Replacement
June 25, 2025
Electronics company Anker has announced
an official recall of Anker PowerCore 10000 power
banks with the model number A1263, following 19 reports of the portable
chargers catching fire and exploding.
The Consumer Products Safety Commission reports that more than 1.1 million of the
products sold in the US are affected by the recall. The company plans to
replace the charging devices, but customers must submit photo evidence of
ownership and also prove that they've disposed of the PowerCore devices
properly.
The PowerCore, made in China, is
now one of four current power bank recalls that have been issued by Anker. The others include the 334 MagGo
10K battery, the 321 Power Bank (5K) and the 535 Power Bank (20K). Other Anker
models, including two of CNET's top picks for portable chargers -- Anker 523 PowerCore Slim 10K PD and Anker
PowerCore III 10K -- aren't impacted by the recall.
Airlines have taken note of portable
battery hazards. Recently, Southwest Airlines changed its policy on charging devices inside of carry-on bags. Some international
airlines have also begun limiting the types of lithium chargers fliers can bring
on planes due to risks of overheating.
How to check if your Anker PowerCore has been recalled
Anker says the products affected are the
A1263 model of the PowerCore 10000 power bank that were purchased between June
1, 2016 and Dec. 31, 2022.
Customers can verify their serial number
at a webpage provided by Anker. The serial number is on the bottom of the
device.
In entering the number, Anker advises,
"Pay attention to the letters and numbers in the serial number: '1', 'L',
'I', '2' and 'Z'. Please note that characters such as '0 (zero)' and 'O' (o)
may be entered incorrectly. Regarding the serial number of the target product,
'O' and 'I' are not used.
---- Why
portable chargers can be a travel hazard
The same reasons that portable charging
banks are so easy to carry around are also part of why they can pose a problem.
Most use lithium ion technology, which can be used to make battery-based
products lighter and efficient, but is also susceptible to overheating or even
fires if the batteries are damaged or have degraded.
It's not unlike reports a decade ago of
cheap batteries on hoverboards spontaneously combusting. Eventually, the products were banned on planes and
in some cases, from being shipped.
"These products are typically
unassuming, and are not something that the average consumer thinks can be
potentially dangerous," said Don Fountain, a civil trial attorney and the author
of Defect Safety, a book about consumer safety and defective products. Fountain
is currently representing a case involving portable batteries that does not
involve Anker.
"My firm has handled fires and
explosions caused by lithium batteries in a variety of products, including
power tools, e-bikes, phones, scooters, children's toys, battery packs and
others," Fountain said. "I would caution consumers to not store or
use these products in a confined or unventilated area that could cause
overheating and to not leave these products plugged into home electrical
systems for extended periods of periods of time, such as overnight or when on
vacation."
More
Anker Recalls 1.1 Million Power Banks for Fires and Explosions: How to
Get a Free Replacement
Next, the
world global debt clock. Nations debts to GDP compared.
World Debt
Clocks (usdebtclock.org)
Another weekend and what new mischief will Tariff Team
Trump spring on an increasingly nervous global economy? I don’t know either,
but with the USA Independence Day holiday coming up fast on July 4th,
expect some fireworks from President Trump. Have a great weekend everyone.
“I've
heard that hard work never killed anyone, but I say why take the chance?”
Ronald Reagan
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