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Market Headlines 👀 

• US weekly jobless claims come in at 238k; est: 235k.

• US May housing starts come in -5.5% at 1.277m; est: 1.370m

• Bank of England (BOE) announces it is holding interest rates steady even as inflation rates near the 2% mark.

• Dell (DELL) company CEO Michael Dell shares an update on its AI factory and how they are using NVDA chips to help power Elon Musk’s xAI.

• Anthropic Amazon backed AI startup just released its newest and most powerful AI model; Claude 3.5.

• MicroStrategy (MSTR) acquires 11.9k more Bitcoin for around $786m.

• Fisker (FSR) files for bankruptcy, another EV startup bites the dust.

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S&P 500 Heatmap 🔥 

Recap Around the Street 🧠

We all know that it has absolutely paid to be an Nvidia bull over the past few years, but this chart really puts things into perspective.  The average holder from just one month ago on NVDA has already greatly outperformed the major indices year-to-date.(Contributed by Jason Krutzky of Trendspider ).

Leaders are going to lead, and that's exactly what MSFT is up to these days. With a powerful break out of the weekly ascending triangle and a bullish MACD cross in the sights, this move could just be getting started.(Contributed by Jason Krutzky of Trendspider ).

The SPY has been an absolute freight train since the April lows, so much so that many traders are now calling for a short term pullback to reset momentum indicators that are beginning to overheat. Seasonality suggests this might be possible, too, with this week's mean return and next week's win rate being among the lowest historically over the past 2 decades. Needless to say, if the SPY does catch some headwinds here, it wouldn't be out of the ordinary.(Contributed by Jason Krutzky of Trendspider ).

Market Preview 🎞️ 

• Friday, June 21st: Monthly options expiration (OPEX); Existing home sales

• Our friends over at BlockFuel recently sat down with Google Clouds Head of Web 3 strategy — > check out the convo here !!

Enjoy reading?👇

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

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