Daily Market Commentary

The coming wave of equity supply we detailed in The IPO Boom is growing. Last week, Alphabet executed an $80 billion secondary equity offering to fund AI infrastructure, including a $10 billion private placement to Berkshire Hathaway. Now, the Financial […]

After much anticipation, SpaceX (SPCX) begins trading tomorrow. The headlines will focus on the $2 trillion valuation and the likely significant volatility in the price once the SPCX begins trading. Before you decide whether to participate, it is worth understanding […]

Art Berman wrote an excellent analysis describing the state of the oil market and two distinct messages being debated. The following commentary is from his article:  Hormuz: A Logistics Crisis, Not Yet an Inventory Crisis. The debate over the oil […]

Simple math suggests that tomorrow’s CPI report for May will likely continue to show high inflation. To compute CPI, the BLS measures gasoline prices during the first three weeks of the reference month. Thus, May CPI will capture gasoline prices […]

New Fed Chairs are often tested early in their terms. For instance, two years after Bernanke took over the Fed, the Financial Crisis kicked into full gear. Janet Yellen was tasked with addressing stock market weakness as the Fed was […]

The headlines surrounding the SpaceX IPO seem mainly focused on how high the stock will go. There is a more important question stemming from the SpaceX IPO and other large deals that few seem to be asking: where will the […]

“Never. No. We’re not sellers. We’re only acquiring and holding Bitcoin. That’s our strategy.” — Michael Saylor, Bloomberg, January 2022 Four and a half years later, Strategy’s founder Michael Saylor’s never-sell doctrine is dead. Between May 26 and May 31, […]

At the start of the year, Wall Street voiced concern about Nvidia’s so-called Blackwell Cliff. The Blackwell Cliff is essentially an air pocket between demand for its current Blackwell chip generation and for its next platform, Vera Rubin. Specifically, the […]

Robinhood, the financial brokerage company, just introduced an AI credit card agent. The AI credit card agent can scan for the best prices, monitor availability, and make purchases automatically onto your credit card based on your instructions. Instead of spending hours […]