PODCAST · business
Nobody Special Finance
by Nobody Special Finance
Business and finance news and analysis every day.
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331
Nvidia Rips on Earnings, Magic Johnson's Insurance Co Under Scrutiny
Nvidia reported another quarter of significant revenue growth which is great news to anybody who can't read a 10Q and doesn't care about accounting fraud. Meanwhile Magic Johnson is the latest professional sports icon to be caught up in the Mark Walter Insurance Fraud scandal.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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330
PCE Shows Stubborn Inflation, Retail Earnings Indicate Consumer Stress
PCE Inflation came in slightly higher than expected doing little to change the market's current state of confusion regarding the Federal Reserve's next move on interest rates. Meanwhile earnings from Dick's Sporting Goods and Kohl's points to a consumer that is cutting back amid that stubbornly high inflation.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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329
Scott Bessent vs The World
If Scott Bessent wishes to defend the dollar, the solvency of the US government, and date Ramona, then he must first vanquish the dollar's Seven Evil Exes.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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328
Treasury Floats Using TGA for Buybacks, Nvidia Buying It's Customers
There's more jawboning in the bond market this morning as anonymous sources at the US Treasury Department claim Scott Bessent could tap the nearly trillion dollar Treasury General Account to fund buybacks. Meanwhile Nvidia is making more "strategic investments" in two of it's own customers this morning.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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327
Gold, Silver, and Bitcoin Rip: The Debasement Trade is Back For Now
The debasement trade is back! While the bond market debates whether or not Scott Bessent will succeed in capping long term interest rates, dollar alternatives gold, silver, and bitcoin are ripping higher just because he's trying in the first place.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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326
Stocks Fall on Walmart Earnings as Bessent Pump Proves Temporary
US Stocks are lower ahead of the open today after Walmart posted it's slowest sales growth in six years stoking concerns about the health of the US consumer. Meanwhile bonds are giving back yesterday's gains amid worries that Scott Bessent's historic intervention will provide only temporary relief from the underlying fiscal recklessness and inflation fears that are driving yields higher.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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325
Treasury Dept Announces Liquidity Pump, OpenAI's Very Bad Day
After several days of bond market turmoil, the US Treasury Department has announced they are doubling the size of their treasury buybacks in order to shore up liquidity at the long end of the yield curve with stocks and bonds both reacting sharply. Meanwhile OpenAI had a very bad day yesterday casting further doubt on it's prospects for a successful IPO.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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324
Interest Rates Rising All Over The World, Crack Spreads Blowing Out
Borrowing costs are increasing across the globe as fiscal recklessness, inflation expectations, and runaway AI spending have debt investors demanding a higher rate in exchange for tying up their money for decades at a time. Meanwhile the price of refined fuel has hit an all time high relative to crude oil and the targeting of energy infrastructure in Europe and the Middle East is disrupting refineries.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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323
The AI Bubble is Now Competing With the US Govt For Debt Issuance
The numbers are already into the hundreds of billions, and by some metrics even the trillions. The AI bubble has borrowed money from anyone and everyone willing to lend and they're still coming up short. This does not end well.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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322
Yen Carry Traders Rebuild Yen Shorts Juicing Tech Bubble
When Scott Bessent bailed out the Japanese Yen earlier this month, he triggered an instant rally in US and South Korean tech stocks that has the S&P500 making new records.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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321
July Producer Price Inflation Comes Lower Than Expected
The July PPI report came in lower than expect and down sharply from June adding to bets that the Federal Reserve will leave interest rates unchanged at the next meeting in September.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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320
CPI Comes in at 3.4%, Missing Fed Target For 65th Consecutive Month
The Consumer Price Index (CPI) for the month of July came in at 3.4% year over year, in line with market expectations. Are you not relieved?Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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319
Wall St Circles Wagons Around Nvidia with $500B of Other People's Money
The biggest asset managers on Wall Street are getting together to commit half a trillion dollar of other people's money in the latest desperate attempt to keep the AI bubble inflated just as the SEC removes the investor protections put in place after the 2008 Financial Crisis.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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318
Intel to Sell $15B of Stock, River Levels in Europe Threaten Food and Power
Intel is the latest tech company to issue new stock joining the ranks of Google, Meta, Oracle, Supermicro and SpaceX as companies tap every corner of the market to raise capital for AI investments. Meanwhile drought in Europe is causing threats to chemical production, grain exports, and power generation as water levels in key waterways have fallen to record lows.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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317
The July Jobs Report Was Bad...Really Bad
The US economy lost 23 thousand jobs in July vs expectations for a gain of 80 thousand. But it gets much worse than that. More than a hundred thousand jobs were lost to downward revisions along with a drop in labor force participation rate suggesting an increasing number of people have given up looking for a job.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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316
Google & Softbank Tap Debt Market Again, Iran Freezes its Own Oil Co
Google and Softbank are once again borrowing tens of billions of dollars in their endless quest to keep the AI bubble inflated by burning ever-larger amounts of money. Meanwhile the Iranian state oil company has had it's accounts frozen by an Iranian state-owned bank as the war over the Strait of Hormuz enters it's sixth month.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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315
Texas Halts New Data Center Approvals, SpaceX Reports For First Time
Texas has become the second state to put a moratorium on new datacenter approvals, joining New York in slowing the relentless buildout that threatens the stability of the power grid. Meanwhile SpaceX stock is selling off after reporting better than expected results that were offset by an increase in AI Capex plans.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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314
Caterpillar and Palantir Rip on Earnings
Both Caterpillar and Palantir shares are sharply higher this morning after the two reported stronger than expected earnings and revenue growth driven by artificial intelligence.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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313
Oil Sharply Lower on Deal or No Deal, US and Japan Tag Team Yen
Oil is off by more than 6% this morning after President Trump called off a planned attack on Iran. Meanwhile the Japanese Yen is surging after the largest Japanese FOREX intervention in history entered it's third day with the help of the US Treasury and Federal Reserve.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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312
KOSPI's Best Day Ever, A 3-Way Yentervention, Amazon Earnings Rip
The South Korean stock market just had it's best day in history punctuating a week of runaway volatility that wiped out millions of retail investors. Meanwhile Japan, Korea, and The US appear to have made a coordinated intervention in forex markets yesterday in order to prop up the flailing Japanese Yen. As all this happens, the US market is still digesting earnings from hyperscalers included Amazon's big revenue growth that was offset by negative free cash flow.Check out George Noble's AI Panel with myself, Ed Zitron, and Julien Garran.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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311
Microsoft Beat, Meta Miss, Bond Market Punishes Warsh Inaction
Meta and Microsoft are moving in opposite directions this morning after posting diverging earnings with both companies decided not to raise their capex for the first time in years. Meanwhile the bond market is punishing Fed Chair Kevin Warsh for moving too slowly to fight inflation.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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310
SK Hynix Miss Triggers Panic in Korea, Oil Spikes on Iran Attack
Despite gravity-defying year over year growth, SK Hynix managed to disappoint shareholders when they reported earnings yesterday trigger yet another panic sell off in South Korea. Meanwhile oil is spiking this morning after Iran launched a surprise missile attack against a US base in Jordan.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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309
KOSPI Tanks on Chinese AI Competition and Nvidia Round Tripping
Last night saw another brutal trading session in South Korea as the KOSPI index dropped nearly 11% on fears of increasing Chinese AI competition and a breakdown of the circular financing that has inflated the AI bubble.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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308
Oil Falls as Both Sides Just Kinda Stop Shooting, Nvidia's Biggest Round Trip Yet
The price of oil is sharply lower this morning after a sudden pause in strikes between the US and Iran. There was no ceasefire agreement or peace talks, they just stopped shooting. Meanwhile Nvidia is poised to launch it's biggest circular financing scheme yet with a $250 billion backstop of OpenAI's lease of an Ohio datacenter that would allow Softbank to borrow the hundreds of billions needed to built it.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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307
South Korean Stocks Triggers Circuit Breaker For 10th Day in A Row
The South Korean KOSPI index dropped 5.7% triggering circuit breakers for an unprecedented 10th consecutive day as the AI Mania has driven retail investors to pile into risky and often misunderstood levered ETFs that are prone to dramatic price swings.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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306
Oil Spikes After Houthis Hit 2 Ships, Google and Tesla Drop on Capex
The Houthis have followed through on their threat and attacked two Saudi oil tankers in the Bab Al Mandeb Strait sending oil sharply higher and driving the US 10 year yield back above 4.7%. Meanwhile Wall Street is punishing Google and Tesla for increasing their capital expenditures on AI yet again despite a lack of anything resembling a return on investment.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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305
Supermicro Rips on Order Backlog, OpenAI Model 'Goes Rogue' In Marketing Stunt
Shares of Supermicro Computer (SMCI) are sharply higher this morning after the legally-trouble company announced their order backlog had grown to $60 billion and operating margins had improved substantially. Meanwhile OpenAI's new models have "gone rogue" and hacked Hugging Face in what appears to be a publicity stunt aimed at duplicating a similar move by Anthropic with their Mythos model earlier this year.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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304
China Props Up AI Stocks, Big Tech Hidden Debt Hits $1.65 Trillion
"The National Team" in China was piling into a chip-heavy ETF last night signaling to the market that the Chinese govt would support tech shares amid the historic volatility seem over the past month. Meanwhile US Hyperscalers off-balance sheet debt has now reached a staggering $1.65 trillion according to a study by Nikkei.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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303
Oil Volatile on Ceasefire Proposal and Rejection, Houthis Embargo Saudis
The price of oil has moved several dollars down and back this morning after reports of a ceasefire proposal by Qatari mediators followed immediately by Iranian rejection of the proposal and a threat from the Houthis to target Saudi shipping in the Red Sea.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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302
Tech Sells Off After China's Moonshoot Releases New AI Model
Tech stocks are selling off hard this morning after another night of volatility in Asia triggered by the release of yet another AI model, this time Chinese AI startup Moonshot has released their new Kimi K3 model, triggering worries about a price war and the ongoing lack of any return on the massive investments made in AI infrastructure.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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301
South Korea Limits Levered ETFs as Volatility Explodes
South Korean regulators have taken steps to rein in trading of levered ETFs as volatility in the KOSPI index has exploded in the first half of this year. Just two companies, SK Hynix and Samsung, and the ETFs that track them now account for 70% of daily trading volume.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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300
June Producer Inflation Falls to 5.5% on Volatile Energy Prices
The Producer Price Index (PPI) came in lower than expected this morning adding to yesterday's CPI headline which showed energy prices caused a rapid deceleration of prices in June thanks to the now-defunct MOU between the US and Iran. Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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299
CPI Much Lower Than Expected, IBM Crashes on Earnings Miss
The Consumer Price Index (CPI) showed US inflation was much lower than the market was expecting for the month of June, driven largely by a decline in energy prices due to the now-defunct MOU between the US and Iran. Meanwhile IBM stock is crashing this morning after the company reported earnings and revenue that missed expectations due to IBM's customers prioritizing AI capex spending.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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298
Apple Sues OpenAI for IP Theft, AI Price War Breaks Out
Apple has sued OpenAI for theft of IP "at every level" accusing the company of recruiting Apple employees while encouraging those employees to steal hardware and trade secrets. Meanwhile the frontier AI labs are now caught up in a price war as the rapidly commoditizing industry contends with pushback against token prices and a new wave of Chinese competition.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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297
China Vanke Property Losses Grow, Japanese Pensions to Prop Up Yen
The collapse of the Chinese housing market is still getting worse five years after the demise of Evergrande. China Vanke, once the biggest developer in China, has filed a report with regulators stating that their losses in the first half of the year will exceed those from a year ago due to decline sales and asset impairments. Meanwhile Japanese regulators have a new plan to shore up the falling Yen: other people's pension money.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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296
European Car Makers are Dying, Hormuz Traffic Grinds to a Halt
Yesterday it was Mercedes and today it's Porsche and Volkswagen. European carmakers are being crushed by a combination of US tariffs, oversupply of cheap Chinese EVs, and the high cost of doing business in Europe. Meanwhile the traffic through the Strait of Hormuz has ground to a halt after two days of renewed fighting between the US and Iran.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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295
Trump Says Iran Ceasefire is Over, Japan Payment Provider Collapses
Oil rose and stocks fell after President Trump said the Iran Ceasefire was effectively over during a press conference at the NATO summit in Turkey last night. Meanwhile Zentoshin, a Japanese payments processor that services over 200,000 merchants has collapsed triggering concern about contagion risk for regional banks and secondary bankruptcies among the small businesses it serves.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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294
Samsung's 19X Earnings Growth Disappoints...Somehow
Samsung stock sold off overnight despite posting a mind-boggling 19 fold increase in quarterly profits due to the ongoing memory shortage caused by the AI bubble. The volatility in South Korean chip stocks continues to blow circuit breakers on a near-daily basis.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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293
Strategy Reports Sale of 3,588 Bitcoin and $8.3B Unrealized Loss
The price of Bitcoin is falling once again this morning after an 8K from Michael Saylor's Strategy revealed that the company had sold thousands of bitcoin over the prior few days to fund dividends, as well as the departure of the Chief Accounting Officer and $8.32 billion in unrealized losses on their bitcoin hoard.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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292
Blackstone Pulls Out of Massive Virginia Datacenter, Private Credit Goes From Bad to Worse
Blackstone has pulled out of a massive $100 billion datacenter project in Prince William County, Virginia, the second firm to do so after Brookfield pulled the plug in May. Meanwhile the Private Credit industry has gotten even worse in the second quarter as investors requested more money than last quarter while getting back less.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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291
Jobs Report Disappoints, Meta's Overcapacity Triggers Bubble Fears
The June Jobs report showed the US economy added roughly half as many jobs as the market was expecting, not to mention significant downward revisions to the numbers from April and May. Meanwhile Meta's plan to sell excess AI compute capacity has thrown the AI bubble into chaos as the narrative of "insatiable demand" falls apart triggering a selloff in neocloud stocks and chip makers.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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290
Trump Made Over a Billion Dollars on Crypto Since Taking Office
President Trump has released a 927 page financial disclosure form for 2025 that shows the president made over $1.2 billion from his various business interests, in particular his crypto ventures which didn't end well for the investors who bought them.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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289
Supermicro's Taiwan Office Raided for Chip Smuggling
The Taiwan office of Supermicro Computer was raided yesterday along with three affiliated companies and the homes of six individuals in a widening probe of illegal sales of AI servers containing Nvidia GPUs to China.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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288
Strategy to Sell Bitcoin and Buyback Stock, BIS Warns on AI Bubble
Michael Saylor's Strategy has published a press release detailing their plans to raise cash to cover dividends and debt service cost as well as buyback company stock and digital credit securities, all paid for by selling bitcoin. Meanwhile the Bank of International Settlements is warning that the AI Bubble could trigger and economic calamity...if only somebody had warned us about this years ago.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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287
South Korean Stocks Tank Again After Apple and OpenAI News
The rampant volatility in global tech stocks in continuing this morning after another selloff in South Korean stocks triggered market circuit breakers. News of Apple raising prices due to memory shortages and OpenAI potentially delaying their IPO sent tech stocks reeling once again as the AI Bubble continues to show signs of weakness.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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286
Tech Stocks Rally on Micron Earnings, PCE Inflation Hits 4.1%
Micron's big beat and raise last night is driving the Nasdaq sharply higher this morning. Meanwhile Personal Consumption Expenditures (PCE) showed inflation rising to 4.1% year over year in May.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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285
SK Hynix Massive $29B US Listing, Wendy's is Latest Meme Stock
South Korean memory chip maker SK Hynix is joining in on the big tech stock issuance frenzy with a plan to sell $29B worth of ADRs to US investors. Meanwhile shares of fast food maker Wendy's are ripping this morning as the reddit traders appear to have engineered a short squeeze.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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284
Brutal South Korean Selloff Spreads to US Tech Stocks
South Korean stocks took a beating overnight after a selloff that began with SpaceX and US hyperscalers spread across the pond triggering a 10% decline in the KOSPI index. That panic is continuing this morning with the Nasdaq off by more than 900 points ahead of the opening bell.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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283
Hormuz Traffic Increases, Starmer Resigns as UK Prime Minister
It was a volatile weekend for the Strait of Hormuz that saw wild swings in both tanker traffic and the rhetoric between the US and Iran. Meanwhile UK Prime Minister Keir Starmer has resigned paving the way for Andy Burnham to become the sixth UK Prime Minister in 7 years.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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282
The Iran Deal is Falling Apart Already
Well that didn't take long.Support the Channel on Patreon Support the Channel by Buying Me a Coffee Subscribe to Nobody Special on YouTube
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