Iran Just Set a 2029 Clock. MPC Is the Trade.
An Iranian adviser signaled the Hormuz standoff may last into 2029. Marathon Petroleum just posted $17.73 in adjusted EPS. The…
Commodities
SMCI’s Margin Doubled. That’s the Number That Matters.
A revenue miss still sent SMCI up about 10%. Gross margin rising to about 17% is rewriting the investment case.
$963B in Interest. The Japan Risk Nobody Is Pricing.
The CBO's August update just raised the debt-service alarm. The 30-year auction Thursday is where the real stress test begins.
Google’s AI Reshuffle Is a TPU War
The Hassabis shift and the Dean exit are symptoms. The chip allocation fight is the disease.
Gulf Capital Is Going East. Two Deals Explain Why.
Ooredoo just committed $800M to Indonesia and Mubadala is weighing $6.3B in Japan. The Asia pivot is no longer a…
The Unemployment Rate Lied. The Jobs Number Didn’t.
A net loss of 23,000 jobs, a 12-month average that just collapsed to 34,000, and a Fed that was 57%…
AI Is Frying Its Own Backup Systems
Volatile load swings are wearing out batteries, generators, and cooling systems that keep data centers alive. The fix is a…
The Insurance Market Already Priced a 2027 Reopening
Trump gave no timeline at Camp David. The war-risk market gave one instead, and it runs through next year.
The Volatility Is in Oil, Not Stocks
The OVX is running at triple the VIX. That gap is where the real options signal lives right now.
The AI Capex Reckoning Is Here. This Week Forces the Answer.
Three hyperscalers report in four days. The Alphabet shock just set the bar.