Nasdaq 100 Hits Record as Yields Fall on Powell…
What Does It Mean – Crude oil prices, including Brent and WTI, declined sharply by approximately 5% and 4.5%, respectively, settling around $68 and $65.46 per barrel, following a U.S.-brokered ceasefire between Israel and Iran. The agreement alleviated concerns over Middle East supply disruptions, erasing the oil market’s war premium. U.S. stock futures rose, with the S&P 500 up 0.7%, reflecting improved risk sentiment. Emerging market assets also gained. However, Israel’s claims of Iranian truce violations introduced uncertainty, potentially threatening the fragile peace. Global markets rallied, with Hong Kong and South Korea indices jumping 2.1% and 3%. Read more.
Pressure for Trump Trade Deals Ramps Up With Two Weeks to Go…
What Does It Mean – With two weeks until President Trump’s July 8, 2025, deadline, trade negotiations with major U.S. partners face significant hurdles to avoid reimposed tariffs. Talks with Japan and South Korea show progress, but Canada’s resistance to concessions and Mexico’s leadership transition complicate agreements. The EU struggles with internal divisions, risking higher tariffs. Trump’s strategy leverages tariff threats to secure better market access for U.S. firms, though quick wins remain elusive. A potential trade war looms if deals falter, impacting global markets. Equity futures rose slightly, while oil prices dropped amid easing Middle East tensions. Read more.
Tesla Shares Jump Most in Two Months on Robotaxi Rollout…
What Does It Mean – Tesla initiated its long-awaited robotaxi service on June 22, 2025, in Austin, Texas, using a small fleet of modified Model Y vehicles. The low-key rollout, limited to a geo-fenced area, involved select riders, primarily social media influencers, with a flat $4.20 fare. A human safety monitor accompanied each trip, reflecting a cautious approach amid regulatory and safety concerns. The launch, a decade after Elon Musk’s initial promises, boosted Tesla’s stock by over 9%, despite lagging behind competitors like Waymo. The service’s financial impact is expected to be minimal initially. Read more.
KB Home Cuts Outlook as Profit, Sales Fall…
What Does It Mean – KB Home reported a Q2 2025 earnings beat, with revenue of $1.71 billion and EPS of $1.83, surpassing estimates. However, the homebuilder lowered its full-year guidance, projecting housing revenue of $6.3-$6.5 billion, down from $6.6-$7.0 billion, due to a sluggish housing market. Q2 net orders dropped to their lowest since the pandemic, reflecting weak demand. Net income fell 30% year-over-year, aligning with industry trends seen in Lennar’s results. High mortgage rates and economic uncertainty continue to suppress buyer confidence, raising concerns about future homebuilding volume and margins. Read more.
Man gets stuck in chimney while trying to get his dog out of a locked building…
Firefighters had to rescue a man who got stuck in the chimney of a Connecticut parks building while trying to retrieve his dog from a bathroom when the doors automatically locked for the night.
Police were called Sunday morning to Rockwell Park in Bristol for a burglary complaint and were told by parks employees that someone was in the chimney. Firefighters responded to the scene and got the man out after having to remove parts of the chimney and building, causing $5,000 to $10,000 worth of damage, police said.
It’s not clear how the dog got stuck in the bathroom or how long the man was in the chimney. The doors can be opened from the inside after they are locked for the night. The dog was unharmed, police said.
“It is a bit of a crazy scenario,” Benoit said. “Our parks staff is working with the police department and the fire department to make sure that doesn’t happen again. If he had just contacted police in the first place, we might have been able to avoid the situation.”
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