Baltic
Dry Index. 2916 -65
Brent Crude 93.38
Spot Gold 4329 Spot Silver 68.02
US 2 Year Yield 4.15 -0.02.
US Federal Debt. 39.227 trillion
US GDP 32.196 trillion.
The secret of politics? Make a good treaty with Russia.
Otto von Bismarck
With everyone and their dog in AI outer space, looking to cash out via trillion-dollar priced IPOs, dinosaur Graeme thinks this is a good time to be out of most stocks and sit out the IPO stampede in the safety of cash.
Maybe, this time it’s different and the AI dot con bubble will turn out this time to be different, but in dinosaur Graeme’s stock and commodity trading experience since 1968, that’s not the way to bet.
Besides, with commodity futures markets available to gamble in on ten to one margin, why invest in the now commoditised volatile stock casinos on only two to one margin, as AI insiders try to cash out in trillion dollar iffy valuation IPOs?
Sell in May, go away is often very good advice.
Asia chip-linked shares recover after U.S. peers
bounce back
Published Mon, Jun 8 2026 9:16 PM EDT
Asian technology stocks rebounded Tuesday,
tracking Wall Street’s gains, as investors returned to artificial
intelligence-linked names.
South Korean memory chip giant SK Hynix
climbed 6.44%, while Samsung Electronics gained 3.38%. Seoul Semiconductor
jumped over 12%.
Japanese semiconductor equipment makers
also advanced, with Tokyo
Electron rising 5.65%, Advantest adding 1.51%,
and Renesas Electronics gaining
2.54%.
However, shares of Japanese tech
investment giant SoftBank extended
their slide, dropping 2%.
In the U.S., chip stocks powered gains on
Monday, helping the S&P 500 gain 0.3%, while the tech-heavy Nasdaq
Composite advanced 0.86%, clawing back some of last week’s losses amid a
broader rout in technology shares.
“The rotation back to domestic defensives
we saw yesterday will be short lived for now,” said Andrew Jackson, an equity
strategist at ORTUS Advisors.
While it remains unclear whether the
recent pullback will be enough to reset valuations, Jackson said markets were
likely to remain volatile through the week as investors brace for the pricing
of SpaceX’s highly anticipated initial public offering on Thursday and the
start of trading on Friday.
Investor attention is also turning to a
potential wave of blockbuster AI listings after
OpenAI said it had confidentially filed for an initial public offering,
following a similar move by Anthropic and coming just days before SpaceX shares
are expected to begin trading.
Jackson added that capital could become
more constrained after OpenAI’s IPO filing. The artificial intelligence company,
which is valued at more than
$850 billion, has been gearing up to go public as soon as the fourth
quarter of this year.
Asia
tech stocks rebound after Wall Street chip shares recover
Stock futures fall as investors assess fragile
Iran-Israel ceasefire: Live updates
Updated Tue, Jun 9 2026 10:13 PM EDT
S&P 500 futures fell
Monday night as investors weighed a fragile ceasefire between Iran and Israel.
Futures tied to the broad market index
were down about 0.2%, while the Nasdaq 100 futures slid
0.35%. Dow Jones Industrial
Average futures fell by 148 points, or 0.29%.
Iran on Monday halted military strikes
against Israel, but warned it would resume attacks if Israeli forces continue
operations in Lebanon, Tehran’s foreign ministry told CNBC on Monday. Hours
later, Israeli Prime Minister Benjamin Netanyahu said the conflict with Iran
and Hezbollah was “not yet over.”
In Asia, Japan’s Nikkei 225 opened over 1%
higher on Tuesday, while South Korea’s Kospi rebounded from Monday’s slump to
jump 4%. Hong Kong Hang Seng
index fell 0.53%, while the mainland’s CSI 300 was up 0.57%.
Australia’s benchmark S&P/ASX 200 was down 1.33%.
Chip stocks led the S&P 500 higher in regular
trading Monday, with the index rising 0.3%. The tech-dominant Nasdaq Composite climbed
0.86%. Both averages clawed back some of their losses from last week’s tech
rout. The blue-chip Dow,
on the other hand, bucked the trend to shed 80.77 points, or 0.16%.
Although the artificial intelligence and
chip trade has been the primary market driver on Monday and in other recent
sessions, Brian Kersmanc, portfolio manager at GQG Partners, offered some
skepticism over the trend’s longevity.
“What the issue is on a longer-term basis
is sustainability,” Kersmanc said on
CNBC’s “Closing Bell:
Overtime” on Monday afternoon. “So, how much further does this sustain on a
longer-term basis?”
“At the end of the day, a lot of these
chip names are commodities,” the portfolio manager added. “And if you look at
it in terms of a commodity, when you have a rapid price increase that you had —
in some areas of memory, you had a 15x price increase over the course of last
year or so — if I were to recontextualize that … a 15x increase in energy, go
from $60 a barrel to $900 a barrel, how many energy stocks would people be
buying right now?”
The fragile ceasefire between the U.S. and
Iran was called into question over the weekend, following a reported missile
attack from Iran. In response, Israel carried out a “large-scale strike on
strategic defense systems” on Monday, according to the Israel Defense
Forces’ X account.
However, that same day President Donald Trump said in a Truth Social post that Israel and Iran “are looking to
do an immediate ceasefire.” Later on Monday, Tehran’s Ministry of Foreign
Affairs told
CNBC that while Iran’s military has stopped
its strikes against Israel, hostilities would resume if Israel
continued to attack Lebanon.
United
Natural Foods, J.M. Smucker, Designer Brands and Lands’ End will report earnings
before Tuesday’s opening bell. Traders will also watch out for April’s
wholesale inventories and May’s existing home sales and NFIB small business
index readings.
Stock
market today: Live updates
Bear-Market Signals Seen to Be Multiplying
June 8, 2026 at 10:00 PM GMT+1
Bank of America Securities sees trouble
ahead for the stock market. Investors should exercise caution regarding
equities as an increasing number of “bear-market signposts” point to an
approaching top, strategists led by Savita Subramanian wrote in a
note dated June 5.
Some 70% of those signals have recently
been triggered, in line with the average observed during prior market peaks,
the strategists said. The benchmark S&P 500 Index was “statistically
expensive on 17 of 20 metrics, and trades
rich versus its tech bubble metrics on eight,” Subramanian said.
Their advice to investors? “Take
profits.”
Bear-Market
Signals Seen Multiplying: Evening Briefing Americas - Bloomberg
OpenAI confidentially files for IPO, prepping Wall
Street for mega AI debut
Published Mon, Jun 8 2026 5:14 PM EDT Updated
Mon, Jun 8 2026 5:39 PM EDT
OpenAI has confidentially
filed for an IPO with the Securities and Exchange Commission, joining
the party a week after Anthropic did the same and days before Elon Musk’s SpaceX is set to
hit the public market.
The artificial intelligence company,
which is valued at more than
$850 billion, has been gearing up to go public as soon as the fourth
quarter of this year. A confidential filing allows the company to submit its
financials to regulators for review before they’re made available to the public
and prospective investors.
OpenAI CFO Sarah Friar told CNBC in April
that it’s “good
hygiene” for a business of OpenAI’s size to “look and feel and act”
like a public company, but she wouldn’t comment on a specific IPO timeline.
OpenAI said Monday it hasn’t decided on timing.
Here’s the entirety of OpenAI’s post:
We recently submitted a confidential S-1. We expect it to leak so we’re just announcing it. We have not decided on timing yet; it may be a while because there are things we want to do that are likely easier as a private company. But it’s a complicated set of tradeoffs and this gives us the option to go public sooner if that ends up being best.
OpenAI also plans to facilitate a tender
offer that will allow employees to sell shares at the latest valuation, which
was $852 billion post-money, and alleviate some near-term pressure for
liquidity, according to a person familiar with the plans who asked not to be
named because the details are private.
The company has been working with banks
including Goldman Sachs and Morgan Stanley on the filing,
as CNBC
previously reported. They’re the two firms listed at the top of SpaceX’s
filing.
More
OpenAI
confidentially files for IPO, prepping Wall Street for AI debut
In other news, thanks to Trump’s closure of the Strait of Hormuz, good news for Canada, an aluminium shock ahead. Approx. 11 minutes.
The Aluminum Shock Hitting the Global Economy
The Aluminum Shock Hitting the Global Economy - YouTube
Global Inflation/Stagflation/Recession
Watch.
Given
our Magic Money Tree central banksters and our spendthrift politicians.
Airline profits set to halve this year as fuel costs jump by $100
billion: IATA
Published Mon, Jun 8 2026 6:05 AM EDT
The International Air Transport Association warned
that global airlines can expect to see profits plunge by half in 2026 as the
rising cost of jet fuel continues to squeeze the industry.
Oil prices jumped and jet fuel costs soared after
the U.S.-Iran conflict began on Feb. 28, noted IATA’s outgoing director
general Willie Walsh, adding to the challenges he said airlines have
faced in recent years from the Covid-19 pandemic to the war in Ukraine.
“As a result, we expect average jet fuel prices to
be 70% higher year-on-year,” Walsh said in a report on the State of the
Global Air Transport Industry published Sunday. “That will add $100 billion to
our collective fuel bill this year.”
Walsh noted that while travel demand remains
resilient, airlines
are raising fares to cope, but he said growth will inevitably
be slower.
“Considering all this, we expect profitability to
halve from 2025,” Walsh added. “Net profits will fall from $45 billion to $23
billion in 2026, and net margins from 4.2% to 2.0%.”
Airlines whose balance sheets haven’t recovered
from Covid-19 and those operating in the Gulf will be most affected, according
to Walsh.
An IATA poll showed that 86% of travelers expected
fares to be in line with oil prices, while 49% expected to spend more on travel
this year than last.
“The big unknown is how long travelers and shippers
can tolerate the higher costs of connectivity,” Walsh said.
The Middle East conflict sent oil prices surging
to over $100 a barrel in March and the price of jet fuel increased 103% in
March compared to the previous month, according to data from IATA. Jet fuel prices were up 62.4% year-over-year
for the week ending June 5, per IATA.
Meanwhile. U.S.
carriers spent 56.4% more on jet fuel in
March than in February, according to data from the Department of Transportation in May.
They spent a total of $5.06 billion on fuel in March, up from $3.23 billion in
February, and 30% more than what they paid in March 2025.
How airlines are faring
European budget carrier EasyJet reported
a headline pre-tax loss of £552 million (about
$735 million) for the first half of its financial year ending March 31, and
took on an additional £25 million in fuel costs in March.
The airline said customers are leaving it later to
book tickets, making it harder to predict future sales, and added that it has
hedged 72% of its summer fuel.
German airline Lufthansa is
also expecting to take on 1.7 billion euros ($1.96 billion) in extra fuel
costs this year, with the war posing “enormous
challenges,” it said on May 6.
Additionally, Irish low-cost carrier Ryanair has
hedged 80% of its summer
fuel and saw profit after tax increase 40% to
nearly 2.3 billion euros in the year ending in March.
Ryanair’s CEO Michael O’Leary told CNBC in April
that he expects other European
carriers to struggle if jet fuel costs remain high.
“If pricing stays higher for longer this summer, we
think a number of our airline competitors in Europe are going to face real
financial difficulties,” O’Leary said.
“I think there will be failures,” O’Leary added.
“If it continues at $150 a barrel into July, August, September, then you’ll see
European airlines fail and that, in the medium term, would probably be good for
Ryanair’s business.”
Airline
profits to halve as fuel costs jump by $100 billion: IATA
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.
Can tidal power turbines and fish co-exist? New Nova Scotia
project to find out
By Glenn MacDonald Published
Jun 08, 2026
Tidal power is an emerging sector
globally and the immense tidal resource of a narrow channel in Nova Scotia
could eventually deliver an estimated 2,500 megawatts of renewable energy to
Canada’s power grid.
But first things first, a group of
researchers want to know if underwater turbines can generate clean energy
without harming the Bay of Fundy’s marine ecosystem.
The Fundy Ocean Research Centre for
Energy (FORCE) is retrofitting a former tidal power platform into a research
station designed to monitor fish and marine life in the Bay of Fundy’s Minas
Passage.
That channel is one of the most powerful
tidal energy sites on the planet, with 14 billion tonnes of water moving at
speeds over five metres a second
“For tidal energy to grow responsibly,
we need good data about how tidal turbines interact with the marine
environment,” Lindsay Bennett, FORCE’s executive director, said in an email.
“Regulators need it, investors need it,
the sector needs it to earn the respect and trust of communities who live, work
and depend on the Bay of Fundy.
“It’s very much a shared opportunity,
giving researchers, partners, regulators and technology suppliers a common
space to test tools, compare results and help build consensus around effective
environmental assessment methods.”
FORCE is the research and test centre
for tidal stream energy, providing offshore and onshore electrical equipment to
connect devices to the power grid. It’s located about 10 kilometres west of
Parrsboro.
----“One of the task force’s resulting
actions was to advance research in support of a new staged permitting process.
The Bay of Fundy is a staggering renewable energy resource, but it’s also a
complex ecosystem and a sacred Mi’kmaw watershed. To harness it responsibly,
we’ve got to ground our efforts in both rigorous science and respectful
collaboration. And that’s how the OSIP project came to be.”
The OSIP project — a collaborative
effort with Acadia University, the Confederacy of Mainland Mi’kmaq, Ocean
Tracking Network, the U.S.-based Pacific Northwest National Lab and other
industry and government partners — is intended to gather critical data about
fish movement and behaviour in one of the world’s most active marine
environments.
The Bay of Fundy’s powerful currents
have long attracted interest from renewable energy developers hoping to harness
the tides to generate electricity.
But concerns about the potential effects
of turbines on fish and marine life have remained one of the industry’s biggest
regulatory hurdles.
The OSIP project, which received $8.2
million in funding from Natural Resources Canada in September, is designed to
address those concerns directly. The floating and seafloor platforms,
specifically designed for the Bay of Fundy’s high flows, will deploy
submersible sensor systems, underwater optical cameras, imaging sonars and
acoustic receivers that track fish movement. Additional instruments will
collect data on water speed, turbulence, temperature, and other environmental
conditions.
More
Can tidal turbines and fish co-exist? Nova Scotia project to find out |
PNI Atlantic News
Next, the
world global debt clock. Nations debts to GDP compared.
World Debt Clocks
(usdebtclock.org)
Do not expect that once taking advantage of Russia's weakness,
you will receive dividends forever. Russian has always come for their money.
And when they come - do not rely on an agreement signed by you, you are
supposed to justify. They are not worth the paper it is written. Therefore,
with the Russian is to play fair, or do not play.
Otto von Bismarck
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