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Tuesday, June 24

Noteworthy macro moves today: Gold -1.7%. Oil (WTI) -2.1%. Nasdaq 100 Index (US) +1.0%. Noteworthy US mega-cap moves today: Mastercard Inc (MA) +3.1%. Broadcom Inc (AVGO) +2.7%. Visa Inc (V) +1.7%. 

Global equity markets are experiencing a rally, significantly influenced by the announcement of a ceasefire between Iran and Israel. This development has alleviated concerns over potential supply disruptions in oil production, leading to sharp declines in crude prices and contributing to increased risk appetite among investors.

In economic data releases, the U.S. current account deficit widened more than expected for Q1 2025, reaching $450.2 billion compared to forecasts of $443.3 billion due primarily to rising imports outpacing exports. Additionally, Germany's Ifo Business Climate index showed improvement with an increase from 87.5 in May to 88.4 in June—marking its highest level since last year—which may bolster confidence regarding future economic conditions within Europe.

Market participants are closely monitoring Federal Reserve Chair Jerome Powell’s upcoming testimony before Congress on monetary policy as expectations grow around possible interest rate cuts amid recent dovish comments from Fed officials like Vice Chair Michelle Bowman who indicated support for lowering rates if inflation pressures remain contained.

SPDR Gold Shares (GLD) [-2.0%]
SPDR Gold Shares (GLD) has experienced a significant decline, moving down since Monday. Recent discussions on social media reflect heightened concerns over geopolitical tensions, particularly between Israel and Iran. Reports indicate that the Israeli military has identified missile launches from Iran, with defensive systems actively intercepting these threats. The military chief of staff has announced plans for a forceful response to ceasefire violations by Iran. Concurrently, gold prices have dropped significantly due to the announcement of a ceasefire, which has eased geopolitical tensions and diminished demand for gold as a safe-haven asset. Additionally, dovish remarks from Federal Reserve officials regarding potential interest rate cuts have further reduced gold's appeal as an investment choice.

United States Oil Fund LP (USO) [-3.4%]
The United States Oil Fund LP (USO) has experienced a notable decline, reflecting broader trends in the oil market. Crude oil prices have dropped significantly following the announcement of a ceasefire between Israel and Iran, which has eased geopolitical tensions that previously influenced oil pricing. West Texas Intermediate (WTI) crude fell sharply, continuing a downward trajectory, while Brent crude also reported substantial decreases. Social media discussions highlighted that USO faced its largest daily drop in five years, with reports indicating a decline attributed to escalating geopolitical tensions, particularly following recent attacks by Iran. This situation has led to heightened scrutiny regarding potential implications for oil supply and consumer prices, especially with upcoming holidays like the Fourth of July.

AMD | +3.2% | +7.0B
Advanced Micro Devices Inc | Semiconductors
Advanced Micro Devices Inc (AMD) has experienced a price increase, aligning with the broader market's upward movement. The Nasdaq 100 Index has risen, reflecting a general trend that often influences technology stocks like AMD. In addition to this market momentum, AMD has announced a strategic alliance with HCL Technologies aimed at enhancing enterprise digital transformation through advanced AI and cloud solutions. This collaboration will involve co-investment in innovation labs and joint development centers. Furthermore, AMD has rolled out its first Ultra Ethernet-compliant network interface card, positioning itself as a leader in high-data-rate AI networks. Social media discussions highlight an upgrade to a buy rating for AMD, with a target price of $175, suggesting a positive outlook on its growth potential.

AVGO | +2.4% | +2.9B
Broadcom Inc | Semiconductors
Broadcom Inc has seen its stock price rise significantly, moving up by 2.8% in the pre-market session, coinciding with a broader market surge. The company has rejoined the exclusive group of trillion-dollar market cap firms, rebounding over 70% since April amid prior trade-related bearish sentiment. This resurgence reinforces a positive outlook for Broadcom. In a separate regulatory filing, CFO Kirsten Spears disclosed the sale of over 56,000 common shares at approximately $251.75 per share on June 18. Meanwhile, positive sentiment in the tech sector is reflected in the Nasdaq 100 Index, which has risen over 1%, further aligning with Broadcom's price movement. Additionally, social media discussions highlight a bullish trend for NVIDIA, indirectly referencing Broadcom and other tech stocks, suggesting a favorable environment for technology companies overall.

MA | +2.7% | +14.0B
Mastercard Inc | Transaction & Payment Processing Services
Mastercard is enhancing its partnership with Fiserv to integrate the FIUSD token into its global payments network. This collaboration aims to promote stablecoin adoption, allowing transactions with FIUSD at over 150 million merchants. The partnership will facilitate transitions between fiat and FIUSD, enable merchants to settle in FIUSD, and support stablecoin-linked card issuance. Additionally, Fiserv's Digital Asset Platform will utilize Mastercard's Multi-Token Network to improve programmable on-chain commerce for banks. Concurrently, social media discussions have noted Mastercard's membership in the USDG stablecoin group and its support for PayPal and Fiserv tokens. Wells Fargo has upgraded both Visa and Mastercard to "Overweight," citing that concerns regarding stablecoin performance are overstated and anticipating modest revenue and earnings per share beats for the upcoming quarter.

TSLA | +2.0% | +22.5B
Tesla Inc | Automobile Manufacturers
Tesla Inc. is currently under investigation by the National Highway Traffic Safety Administration (NHTSA) due to potential traffic violations involving its newly launched robotaxis in Austin, Texas. Evidence collection includes social media videos that reportedly show the robotaxis exceeding speed limits and driving into the wrong lane. Concurrently, Tesla is maintaining confidentiality regarding its Full Self-Driving technology in response to NHTSA inquiries. Following the robotaxi service's launch, which generated significant public anticipation, shares rose approximately 8%. Recent social media discussions noted that Tesla recorded over 13,800 new insured registrations in China for the week of June 16th to 22nd, though this figure reflects a decline compared to previous quarters. Additionally, the Nasdaq 100 Index increased, aligning with Tesla's recent price movement.

MU | +3.2% | +4.5B
Micron Technology Inc | Semiconductors
Micron Technology Inc. has experienced a price increase, coinciding with a broader market rally. The Nasdaq 100 Index has risen, reflecting overall positive market sentiment. Anticipation builds ahead of Micron's fiscal Q3 earnings report, scheduled for June 25, 2025, with analysts estimating earnings per share of $1.59 and revenue of $8.8 billion, significantly higher than previous figures. Additionally, recent data from South Korea indicates a notable rise in semiconductor exports, which may enhance sentiment within the sector. The company has appreciated over 45% year-to-date, driven by strong demand for its memory products.

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