Daily Market Commentary

SpaceX filed its securities registration with the SEC and is now set to conduct its IPO on or around June 12th. Below is a summary of key information from the SEC filing. IPO Offering: SpaceX is targeting a valuation ranging […]

When investors discuss the semiconductor chips driving AI infrastructure, they almost always key on Nvidia GPU chips. That’s not surprising, given the surge in Nvidia GPU revenue as we share below. Since 2024, GPU revenue has risen by over 1300% […]

Some political pundits think that Iran holds important negotiating cards versus the US if it can control traffic through the Strait of Hormuz. While that may hold some truth today and for the next few months, some of the world’s […]

As we wrote in Yesterday’s Commentary, the broad market indexes have surged since the April lows, driven largely by a handful of technology and AI stocks and the benefit of massive options volumes. Among the leaders is Nvidia (NVDA), climbing […]

There is plenty in the media about whether this recent market surge is driven by strong earnings and upwardly revised earnings estimates, or by market mechanics. While earnings have been impressive, the bulk of the fundamental performance has been driven […]

Jerome Powell’s term as Fed Chairman expires this Friday, with Kevin Warsh now confirmed by the Senate as his successor. The transition has implications beyond a change in the Fed’s leadership. Further, Stephen Miran, who was appointed Fed Governor in […]

Investors are optimistic that the Wednesday kickoff of the US-China trade summit, featuring President Trump and Chinese President Xi Jinping in Beijing, will result in a durable deal. The current hope is for an agreement currently labeled as a “Board […]

Since the start of 2024, McDonald’s (MCD) stock has fallen 7% while the S&P 500 has risen over 50%. More recently, since the start of hostilities with Iran, MCD is down nearly 20% while the broader market recovered initial losses […]

We recently read someone’s take that the graph below decisively points to the “bond market being under serious pressure.” The graph, courtesy of Bloomberg, shows that the yield on the ten-year US Treasury note is about 1% more than the […]