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Would you buy stocks if Jamie Dimon wouldn't? Jamie Dimon, CEO of JPMorgan Chase, says he would not be a buyer of the broader stock market at current valuations. Why? Dimon believes investors are underestimating the growing risks. He pointed to the wars in Ukraine and the Middle East, tensions between the US and China, and rising US government debt. Thoughts on UK He also warned the UK’s new prime minister against increasing taxes on banks. “I would be very cautious if I was a government thinking that penalising any company out of the ordinary is a good thing for that country,” Dimon said. Dimon’s comments reflect his responsibility to defend JPMorgan’s shareholders against policies that could reduce returns. They also come at a time when JPMorgan Chase and several of its peers reported blockbuster quarterly results, supported by higher trading and investment banking revenue.

by BlackBull Markets

King of the North promises to rebuild Britain Dubbed the “King of the North,” Andy Burnham became the United Kingdom’s seventh prime minister in a decade on Monday, following the resignation of Keir Starmer. For gilt investors and pound traders, attention will turn to whether the new government can deliver Burnham’s more interventionist economic agenda while maintaining control over public borrowing and spending. “We will make this moment a circuit breaker for Britain, bringing forward a new political model and a new economic model,” Burnham said in his first speech as prime minister. He pledged to build an economy that places essential services under stronger public control, while using public procurement to support British industry and accelerate the country’s reindustrialisation. He argued that Britain’s current problems were partly the result of decades in which economic power was transferred to the private sector.

by BlackBull Markets

Mag 7 earnings begin Alphabet and Tesla will become the first members of the Magnificent Seven to report results this earnings season. Their results could shape expectations for the rest of Big Tech. Both companies are scheduled to release their quarterly results after the US market closes on Wednesday, July 22. Alphabet's capital expenditure could prove to be the week’s most consequential figure. Its 2026 capital expenditure guidance has risen to approximately $180 billion. That spending is under increased scrutiny after Alphabet shares fell more than 4% last Thursday after it was reported that the launch of Gemini 3.5 Pro has been delayed. The setback increases the pressure on Alphabet to demonstrate that its infrastructure investment is producing competitive products. Alphabet's earnings will also attract attention after Berkshire Hathaway disclosed a significant stake in Google's parent company. Berkshire has reportedly also participated in a $10 billion private placement linked to Alphabet's broader AI infrastructure funding.

by BlackBull Markets

Trump to Sell Early Access to Market-Moving News Trump Media & Technology Group announced it will launch Truth API, a premium data feed that provides real-time access to posts from high-profile Truth Social accounts (President Trump has approximately 12.9 million followers on Truth Social, making him the platform's most influential account.). The service is expected to become available on August 1. President Trump frequently uses Truth Social to communicate policy decisions before they appear elsewhere. His posts on tariffs, international conflicts, trade negotiations, and economic and crypto policy have repeatedly triggered sharp moves across equities, currencies, commodities, and cryptocurrencies. The premium low-latency feed would allow subscribers to receive those updates milliseconds, or seconds, before the broader public.

by BlackBull Markets

Long SpaceX before every launch? UBS thinks so SpaceX shares fell below their $135 IPO price for the first time on Wednesday, reaching an all-time low of around $132. The stock is now down approximately 40% from its June 16 peak of $225. Attention now turns to SpaceX’s next Starship launch, scheduled for Thursday (US time). The mission will attempt to deploy 20 Starlink V3 satellites for the first time, followed by a planned splashdown an hour after launch. UBS believes a successful launch could provide a boost to the stock. Not surprising though, as the bank, one of the 20+ underwriters of SpaceX IPO, has a price target on the stock of $210 (54% upside from Tuesday’s close).

by BlackBull Markets

“Guardians of Hormuz” sends oil higher WTI and Brent crude have risen around 10% after President Donald Trump announced the U.S. will impose a 20% fee on all cargo passing through the Strait of Hormuz, declaring America the "guardian" of the key global oil shipping route. "The U.S.A. will be, from this point forward, known as 'THE GUARDIAN OF THE HORMUZ STRAIT,'" Trump said. Funnily enough, this is a sharp reversal from the U.S. position on Iran's previous proposal to charge tolls for vessels transiting the strait, which Secretary of State Marco Rubio argued would violate international law. Stock indexes also fell, following Trump’s announcement.

by BlackBull Markets

Why SK Hynix listed in the US? SK Hynix’s Nasdaq listing raised US$26.5 billion last week, the largest US listing by a foreign company. Its shares have since risen more than 15.5% above the US$149 offering price. The proceeds will support the chipmaker’s growing capex, which is expected to reach up to US$50 billion annually over the next two years. However, most of this spending is expected to be funded through internal cash flow. In its latest quarter, SK Hynix reported revenue growth of 198%, reaching approximately US$35 billion. So why list in the US? The listing strengthens SK Hynix’s ability to fund future expansion and capex. This may become increasingly important as Samsung, SanDisk and Micron invest heavily in high-bandwidth memory chips and attempt to narrow SK Hynix’s lead. Can SK Hynix close the valuation gap with Micron? Despite its strong market position, SK Hynix continues to trade at a discount to Micron. That gap may begin to narrow as the listing and its profile as Nvidia’s largest memory partner increases.

by BlackBull Markets

What you missed: SpaceX, Fed, Spanish bonds SpaceX shares closed at $148 on Wednesday, remaining below their initial trading price of $150 for a second consecutive session. Meanwhile, Jeff Bezos' Blue Origin is reportedly seeking around $10 billion in its first external funding round, a deal that would value the rocket company at approximately $130 billion. Minutes from the Federal Reserve's June meeting (the first chaired by Kevin Warsh) showed policymakers remain divided over the path for interest rates. In currency markets, EUR/USD potentially faces resistance at its 100-hour moving average near 1.1433. The 50-hour moving average is perhaps trading too close to the current price to provide meaningful support. Spanish government bonds extended their decline after U.S. President Donald Trump said at the NATO summit in Turkey that he wanted to "cut off all trade with Spain."

by BlackBull Markets

The rotation trade - day 100 The Dow pulled back from record highs on Tuesday, while the Nasdaq fell 1% as investors rotated out of chip stocks and into sectors including large-cap technology. SpaceX declined 6% following its entry into the Nasdaq-100. Despite the pullback, the company received 14 new Buy ratings, with Wall Street analysts now favouring SpaceX over Tesla. Adding to the downturn, risk sentiment weakened after Iran restarted attacks across the Strait of Hormuz. Brent crude rose 5.3% higher at US$75.80 a barrel, while U.S. West Texas Intermediate crude gained nearly 5% to US$72.10 a barrel.

by BlackBull Markets

RBNZ: Hold or hike this week? Economists are divided over whether the Reserve Bank will raise the Official Cash Rate this week, although markets continue to price in some chance of a hike. The Reserve Bank of New Zealand will release its July Monetary Policy Review at 2:00 p.m. on Wednesday. ASB and Westpac have pushed back their forecasts for the next OCR increase after Brent crude fell to around US$72–73 a barrel, easing pressure on the inflation outlook. ASB now expects the RBNZ to keep the OCR on hold until September. ANZ and BNZ continue to forecast an immediate 25 basis point hike, arguing that as oil prices fall, inflationary pressures should stay but shift from supply-driven to demand-driven. Meanwhile, Kiwibank has brought forward its forecast for the next OCR increase, now expecting the RBNZ to begin raising rates in July instead of February 2027.

by BlackBull Markets

SpaceX’s AI device: real or vaporware pump? The Wall Street Journal reports that SpaceX has shown insiders a prototype of a handset-like AI device. It sounds like a phone, or at least something close to one. The device is said to be slimmer than an iPhone and reportedly uses a proprietary operating system that takes advantage of xAI’s technology. Although, everything is still very much in the prototype phase. If true, the device would fit into Musk’s wider ambition to create an “everything app” that connects payments, AI, social media and potentially Starlink-powered internet. AI companies are racing to define the next generation of computing devices. OpenAI is working with former Apple chief design officer Jony Ive on an AI device. But Musk has denied the report, calling it “utterly false.” Apple shares rose 1.7%, showing the market was not treating the prototype as a threat to the iPhone. SpaceX shares fell 7.7%, suggesting investors were not fully buying into the reported AI device story.

by BlackBull Markets

Why US data matters for USD/JPY & Nikkei this week USD/JPY has climbed above 162 as the gap between US and Japanese interest rates continues to favour the US dollar. The next major news event is US economic data. Upcoming jobs data will shape expectations for Federal Reserve interest rates. Stronger-than-expected data could increase expectations for Fed rate hike, push US yields even higher, supporting further gains in USD/JPY and increasing the chances of intervention from Japanese authorities. The US-Japan 2-year yield gap is now approaching 280 basis points, wider than when Japan last intervened in the currency market. Japanese equities are also benefiting from the weaker yen. The Nikkei remains near record highs as exporters and AI-related stocks continue to perform well, meaning any shift in the US dollar could also influence Japan's stock market. Our prime spreads on USDJPY are from 1 point and 500x leverage, and JPN225 spreads from 5 points.

by BlackBull Markets

Is Rocket Lab overpaying for Iridium to catch up with SpaceX?Rocket Lab shares jumped nearly 17% during Monday afternoon trading after announcing that it has agreed to buy Iridium Communications in an $8 billion cash-and-stock deal. Last year, Iridium generated $872 million in revenue and $114 million in net income. (Iridium rose almost 25% as the market reacted to the takeover premium). This deal gives RKLB access to a global satellite network, wireless spectrum, and an established customer base, in what looks like a bid to tangentially compete against Elon Musk’s SpaceX. SpaceX operates a satellite network far larger than Iridium’s, with roughly 10,000 satellites in orbit. Iridium operates a network of 66 low-Earth-orbit satellites but creates a more vertically integrated space company in RKLB.

by BlackBull Markets

Markets watch Hormuz flows Crude oil posted a weekly decline of more than 10% last week, its steepest drop in a month. Prices fell nearly 4% on Friday, moving toward $69 a barrel and reaching their lowest level since February 27. A 14-point interim peace plan had been intended to halt the fighting and reopen the strait. Markets are now watching tanker flows through the Strait of Hormuz after the recent rebound in traffic helped ease concerns over energy supply. However, with both sides accusing each other of violating the ceasefire and talks to end the conflict on hold, any renewed disruption could reverse the recent decline in crude prices.

by BlackBull Markets

Will Musk say anything to regain $1T status? Elon Musk became the world’s first trillionaire when SpaceX was listed on the Nasdaq on June 12. One gets the feeling that this status matters to Musk. The subsequent rally in SPCX, however, proved short-lived. SpaceX has since declined sharply, with the stock falling more than 30% from peak levels and now trading near $152. Despite the drawdown, Musk remains the richest individual by a wide margin ($944B estimated). Though a relatively small recovery of around 7% in the SpaceX stock could be enough to restore his trillionaire status. Should the market prepare for Musk to announce something in the next couple days to pump the stock price of SPCX so he can re-secure his status as a trillionaire?

by BlackBull Markets

BTC falls to 20-month low Bitcoin has fallen to $60,000, wiping out the gains made during the so-called Trump 2.0 rally. BTCUSD has tested below $60,000 three times this year. Sentiment across crypto markets remains weak, but Bitcoin’s latest decline has so far been more contained than the sharp drawdowns seen during previous crypto winters. One reason is the growth in institutional participation. The pressure is not limited to crypto. Gold is down around 3%, now below $4,000 for the first time since November, while silver has fallen by 7%. Does gold still have potential support around the late-October low near $3,885?

by BlackBull Markets

SpaceX erases nearly all paper gains SpaceX fell 16% on Monday, marking its biggest single-day loss since listing and extending a three-day selloff that has pushed shares down nearly 24%. The decline came as SpaceX announced its first bond sale of at least $20 billion to qualified institutional buyers. The company said it plans to use the proceeds to repay debt. At the same time, SpaceX disclosed that it holds just over $100 billion in cash and cash equivalents, giving investors plenty to weigh up. Even after the pullback, SpaceX remains about 16% above its $135 IPO price. But for investors who bought in after the listing, the recent slide has erased nearly all of their paper gains.

by BlackBull Markets

SpaceX bigger than Nvidia? One Wall Street firm believes SpaceX shares could more than double from current levels, a move that would push the company’s valuation above Nvidia’s. Arete has reportedly set a $401 price target on SpaceX. Assuming the number of shares outstanding remains broadly unchanged and insiders dont dump their shares when they become available in stages over the coming months. A gradual release could reduce the risk of a sudden supply shock, but it still creates a key test Not all analysts are convinced. Oppenheimer has reportedly issued a more conservative bullish target, while CFRA analyst Keith Snyder carries a Sell rating and a $115 price target.

by BlackBull Markets

Goldman lowers Brent and WTI outlook US and Iran have agreed to extend a fragile ceasefire for 60 days and reopen the Strait of Hormuz. The agreement has prompted Goldman Sachs to revise its outlook for oil prices and bring forward the timing of its forecast adjustments. The bank has lowered its oil price projections, now expecting Brent crude to average $80 per barrel in Q4 2026, down from a previous estimate of $90. Its WTI forecast for the same period was also reduced to $75, while the 2027 WTI estimate was cut to $70. Despite the revised forecasts, the bank expects a lingering geopolitical risk premium to continue providing a floor for oil prices. A formal signing ceremony is expected on Friday in Geneva.

by BlackBull Markets

SpaceX float squeeze is taking shape Three days after going public, #SpaceX is already trading 55% above its $135 initial public offering price. But as investors learned during the meme stock era and the 2021 crypto cycle, valuations can move much further than expected when prices are untethered from pure fundamentals. Perhaps what makes the SpaceX meme stock different is the tiny number of shares that are available to trade compared to the demand. Only 555.6 million shares were sold in last week’s #IPO, representing about 5% of SpaceX’s total outstanding stock. But there might be some genuine news affecting its price too. On Tuesday, SpaceX announced it had entered into a formal agreement to acquire AI startup #Cursor in an all-stock deal valued at $60 billion.

by BlackBull Markets

SPCX up another 20% SpaceX stock gained 19.6%, or $31.55, in its first full day of trading, pushing the company’s market capitalisation above $2.5 trillion. Elon Musk added to the momentum by predicting that SpaceX could generate $1 trillion in annual revenue by 2030. That would represent a 53x increase over five years from its current $18.7 billion revenue base. For the broader market, the move shows that investor appetite for IPOs remains extremely strong. Two major issuers, Anthropic and OpenAI, are also expected later this year. Separately, it was reported today that Nvidia could potentially raise $20 billion through a U.S. bond issuance.

by BlackBull Markets

SpaceX’s first drawdown sets up its first trading week SPCX opened with strong upside momentum on Friday, pushing toward a wick high around $177. Since then, the price has moved into a clear short-term drawdown. The drawdown does not yet show a confirmed reversal, but most of the opening move has now been retraced. A clean break below $158–$159 would be more significant because it would fully erase the opening rally. However, traders might be bullish at least for the next 15 trading days. Nasdaq has adjusted its Nasdaq-100 index eligibility rules so that SPCX can be considered after 15 trading days. If SPCX is added quickly to the Nasdaq-100, passive funds linked to those benchmarks could become forced buyers. That creates a possible front-running trade.

by BlackBull Markets

555,555,555 shares at $135 each! In an announcement posted on the social media platform that it owns, SpaceX confirmed the pricing of its IPO of 555,555,555 shares at $135 each. Valuing the company at about $1.8 trillion (and making Elon Musk a trillionaire) The stock is expected to start trading publicly on Friday under the ticker SPCX. The long-term impacts of SpaceX won’t be known for years. For now, investors can focus on the next few days. Once the stock begins to trade Friday, the listing price is only the starting point. It could soar higher or dip lower in the coming minutes, hours, and days.

by BlackBull Markets

ECB hikes first time in 3 years The European Central Bank raised interest rates by 25 basis points today, marking its first rate increase since 2023. The central bank appears focused on preventing energy-driven inflation from becoming more persistent across the eurozone economy. The ECB also revised its inflation outlook higher. Inflation is now expected to average 3.0% in 2026, up from the previous forecast of 2.6%, while the 2027 forecast was lifted to 2.3% from 2.0%. The rate increase comes as the Middle East conflict passes the 100-day mark. Earlier, U.S. President Donald Trump cancelled planned airstrikes against Iran, saying the two sides had made progress toward a settlement that could be finalized in the coming days. For markets, the question is whether this breakthrough can reduce energy-price pressure quickly enough to change the ECB’s outlook and subsequent policy path. For now, short-term momentum has clearly flipped bullish, but the pair is approaching resistance, so traders may be watching whether buyers can sustain the breakout or if this turns into a rejection near the highs.

by BlackBull Markets