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Welcome Back,

Market Headlines 👀 

• US Federal Reserve meeting tomorrow, here is what you need to know.

• US CPI estimates from the street can be found below, 3.4% YoY is what the market is expecting ahead of the report on tomorrow morning.

• US is weighing even more limits on China’s access to AI and chips.

• Apple (AAPL) stock surges to all time highs following annual WWDC event yesterday.

• Oracle (ORCL) reported earnings today and announced OpenAi has selected the company to provide additional cloud capacity.

• Spotify (SPOT) announces a new subscription for audio lovers which will include special tools and access unlike before.

• Charles Schwab (SCHW) trading platform saw a major outage this morning affecting thousands of customers.

Earnings 💸

• Oracle (ORCL)

  • EPS: $1.63 misses (exp. $1.65)

  • Revenue: $14.3b misses (exp. $14.6b)

A note from Ryse 📣

Missed out on Ring and Nest? Don’t let RYSE slip away!

Ring 一 Acquired by Amazon for $1.2B

Nest 一 Acquired by Google for $3.2B

If you missed out on these spectacular early investments in the Smart Home space, here’s your chance to grab hold of the next one.

RYSE is a tech firm poised to dominate the Smart Shades market (growing at an astonishing 55% annually), and their public offering of shares priced at just $1.50 has opened. 

They have generated over 20X growth in share price for early shareholders, with significant upside remaining as they just launched in over 100 Best Buy stores.

Retail distribution was the main driver behind the acquisitions of both Ring and Nest, and their exclusive deal with Best Buy puts them in pole position to dominate this burgeoning industry.

Secure your stake before the offer closes.

S&P 500 Heatmap 🔥 

Recap Around the Street 🧠

The key for cpi slowdown is the shelter component which has remained stubbornly elevated. Decline in new car prices and apparel and slowdown in services should also help the inflation narrative.(Contributed by Benjamin Lavine, CIO at Freedom Investment Management).

US CPI estimates from the street below, report is out at 8:30 am EST tomorrow:  

Market Preview 🎞️ 

• Wednesday, June 12th: MBA mortgage applications; US Federal Reserve FOMC meeting and rate decision; Cost producer index (CPI)

• Thursday, June 13th: Weekly jobless claims; Price producer index (PPI)

• Friday, June 14th: University of Michigan consumer sentiment

Enjoy reading?👇

That’s all for today, folks! We’ll be back around the same time Thursday with a curated list of important news, economic data and market highlights. 

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