Market news
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Israel Warns of Possible Iranian Missile Attack After Beirut Strike
Israeli officials report indications of an imminent Iranian missile attack, hours after Iran vowed a 'decisive and painful response' to an Israeli strike on Beirut.
US Long-Term Unemployment Hits Highest Since 2021
The number of Americans unemployed for 27+ weeks rose to 1.99 million in May, the highest since December 2021. The annual increase of 524,000 is the largest since August 2021.
United Airlines CEO Sees Full Consolidation Unlikely, Eyes Slot Acquisitions
United Airlines CEO Scott Kirby said full industry consolidation is improbable, though the carrier may buy slots or gates. He noted strong demand but expected elasticity effects, and that pricing is nearly offsetting higher fuel costs.
Iran Rejects Use of Its Assets to Pay US War Damages to Allies
Iran's Deputy Foreign Minister Gharibabadi stated that Iran's assets cannot be used to compensate US war damages to regional allies, calling them neither war spoils nor a payment source.
Strong Jobs Data Fails to Prevent 4.2% Nasdaq Crash
Despite a better-than-expected U.S. employment report showing 172,000 jobs added, the Nasdaq tumbled 4.2% on Friday.
EUR/USD Technical Indicators Signal Bearish Shift Toward 1.1300
EUR/USD faces a bearish shift as multiple technical indicators align to target the 1.1300 level.
Gold Breaks Down as US Jobs Data Crushes Support
Strong US payrolls for May – 172K vs 85K expected, with upward revisions – sent gold tumbling as the dollar and yields surged, turning prior support into resistance.
Gold vs Bitcoin Debate Intensifies After Brooks Analysis
A new analysis by Robin Brooks has sparked debate over whether gold is losing its traditional store-of-value role to Bitcoin, though the claim remains controversial.
Sound Money Advocate Challenges Link Between Dollar Dominance and Militarism
A post argues that the common belief tying the U.S. dollar's global dominance to American military power is a mistaken argument against returning to sound money.
AI Analysis Shows Lockdown Damage Worse Than Official Data
An AI-powered tool indicates that the economic impact of pandemic lockdowns is more severe than government statistics suggest, highlighting growing financial strain on American consumers.
Iran Speaker: US, Israel Assets Legitimate Targets After Beirut Strikes
Iran's Parliament Speaker Mohammad Ghalibaf said that Israeli strikes on Beirut and the US blockade of the Strait of Hormuz make American and Israeli bases and assets in the region legitimate targets, accusing both of rejecting ceasefire and dialogue.
US Carrier George H.W. Bush Conducts Night Ops in Arabian Sea
The USS George H.W. Bush (CVN 77) has been performing night flight operations in the Arabian Sea as one of two US aircraft carriers currently deployed in the Middle East.
Bitcoin Bounces from $60K; Bloomberg Warns of Coldest Crypto Winter
Bitcoin rebounded from $60,000, while Bloomberg predicted the harshest crypto winter yet. Russia's central bank plans to restrict retail investors to only BTC, ETH, and USDT. Vitalik Buterin proposed a model for crash-resistant synthetic assets, and a white hat hacker unlocked $2M from a 2016 smart contract.
Weekend Markets: Global Indices Mostly Higher, Oil Gains 2.47%
Major global indices posted modest gains over the weekend session, while crude oil surged more than 2% and precious metals showed mixed performance.
Put Option Demand Surges on South Korea ETF as EWY Plunges 14%
Put option open interest on the South Korea ETF (EWY) surged to 880,000 contracts, the highest in 12 months, after EWY plunged 14% on Friday—its worst day since the pandemic crash.
Trump Threatens Military Action Against Iran If No Deal
President Trump stated that if an agreement with Iran is not reached, the US will destroy Iran militarily and strictly, then proceed to extract nuclear dust.
Trump: US Would Extract and Destroy Iran's 'Nuclear Dust' If Deal Reached
Former President Donald Trump stated that if a deal is made with Iran, the US would use its own equipment to extract and destroy what he called 'nuclear dust,' and the two countries would move forward as friends.
US Official: Strait of Hormuz Open Without Fees Regardless of Iran Deal
The US Secretary of War told News Nation that the Strait of Hormuz will remain open and toll-free for global shipping, with or without an agreement with Iran.
U.S. Navy Enforces Iran Blockade in Arabian Sea, Redirects 132 Vessels
The U.S. Central Command reported that as of June 7, its forces have redirected 132 commercial vessels and disabled 6 while enforcing a blockade against Iran in the Arabian Sea.
Key Data Releases This Week: Focus on Inflation
This week features major US inflation data including May CPI and PPI, plus housing data, OPEC's monthly report, and consumer sentiment readings.
US Draft IAEA Resolution Urges Iran to Grant Full Inspection Powers
The United States has submitted a draft resolution to the IAEA Board of Governors calling on Iran to immediately provide the agency with all necessary verification powers without delay.
US Draft Resolution Urges Iran to Disclose Nuclear Materials to IAEA
A proposed US draft resolution to the IAEA Board of Governors demands that Iran immediately provide accurate information on its nuclear materials and facilities.
Fatah Movement Refuses to Join Cairo Dialogue, Cites Lack of Consultation
The Fatah movement, led by Mahmoud Abbas, has declined to take part in the Cairo dialogue and states it was not consulted on consensus decisions being drafted for the talks.
UAE Rejects Aggressions Against Lebanon's Sovereignty
The UAE Ministry of Foreign Affairs has issued a statement affirming the country's categorical rejection of any aggressions that affect Lebanon's sovereignty, security, and stability.