📈 Triple-witching

Good morning.

The Fast Five → Anthropic announces its most powerful AI yet, Canada joins US and EU tariff moves on Chinese EV’s, SpaceX unveils backpack-sized ‘Starlink Mini’, triple-witching tests market calm, and Bugatti unveils new $4.1 million, 1800 horsepower hybrid hypercar…

Calendar: (all times ET)

• Today: Existing home sales, 10:00a

Your 5-minute briefing for Friday, June 21:

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BEFORE THE OPEN

PRE-MARKET

MARKETS

• US stocks closed lower yesterday as the market rally showed signs of cooling

  • Nasdaq ended its seven-day win streak of record closing highs

  • Money markets are pricing in a 58% chance of a 25 bps rate cut in September

• Treasuries fell after almost erasing 2024 losses

• Dollar spot index soared to a YTD high

EARNINGS

• Accenture rose ~7% after forecasting annual revenue growth above expectations on surging demand for AI integration services (link)

• Kroger fell ~3% despite beating Q1 estimates after forecasting a Q2 earnings decline due to pressure in its pharmacies and increase in promotions (link)

• What we're watching this week:

  • Today: CarMax

• Full calendar here

NEWS BRIEFING

OpenAI Competitor Anthropic Announces its Most Powerful AI Yet

Canada Prepares Potential Tariffs on Chinese EVs After US and EU Moves

• Stocks show signs of buyer exhaustion after rally (link)

• Biden economists claim progress on grocery inflation (link)

• Supreme Court upholds US tax on foreign business income (link)

• SpaceX unveils backpack-sized ‘Starlink Mini’ satellite internet antenna for $599 (link)

• $5.5 Trillion triple-witching to test market calm (link)

• TikTok says US ban is inevitable without a court order blocking law (link)

• California workplace safety board approves heat protections for indoor workers, excluding prisons (link)

• Biden bans US sales of Kaspersky software over Russia ties (link)

• US car dealerships face ongoing outage after CDK cyberattacks (link)

• Biopharma Layoff Tracker 2024: Cara, Barinthus, Agilent and More Cut Staff (link)

• US jobless claims fell to 238,000 last week, while housing starts dropped 5.5% in May (link)

• China Trade With U.S. Evaporating, Below 10% For Last Two Months (link)

• This is Bugatti’s new hypercar, a $4 million, 1,800 horsepower hybrid (link)

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CRYPTO

• Aptos Labs Announces Partnership With NBCU To Transform Fan Experiences With Web3 And Blockchain (link)

• Blockchain Security Firm Certik Returns $3,000,000 in Exploited Funds to Crypto Exchange Kraken (link)

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DAILY SHARES

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