Federal Reserve The Fed held. Three officials wanted a hike. Then Fauci took the Fifth and Iran resumed missile strikes and Wednesday reminded everyone that the quiet days are over. The Fed held but three dissented, the loudest signal since 2016. Fauci took the Fifth. Iran resumed strikes in under 48 hours. Scientists found gold beneath the ocean. Visa crossed $4 trillion and cut 2,600 jobs the same day. Wednesday had range.
Iran The war hit Silicon Valley's cloud today. Jamie Dimon said he would not buy the market. SpaceX launched a robot to fix satellites in orbit. Tuesday was not a slow news day. Iran hit Amazon's Bahrain data center. The Houthis blockaded Saudi Arabia. Dimon would not buy the market. Canada tariffs land on an already stressed inflation picture. Tuesday had range.
Federal Reserve The Fed chair said nothing. Today's minutes are the most important document he's ever released. Nine officials want a hike. Eight want to hold. One wants a cut. Warsh submitted no projection at all. Today at 2 PM the only on-record statement about September's rate decision drops — and it will move everything.
Semiconductors Samsung made 19 times more profit than last year. Its stock fell 7%. Welcome to earnings season. SpaceX joined the Nasdaq-100 and immediately dropped 6%. DeepSeek is building a chip to replace Nvidia. Amazon wants $25 billion. And Trump told Walmart to cut prices on Truth Social. Tuesday had range.
Markets The President rang the stock market's opening bell from the Oval Office today. That sentence used to be impossible. Trump Accounts launched, Russia-Ukraine entered a new phase over the holiday weekend, OpenAI wants the government to own a piece of it, and Anthropic just signed a $19 billion power deal. The holiday is over. The week is not waiting.
Markets Iran requested the meeting. That's the whole story. A compute shortage, a record Dow close, and a phone call nobody saw coming, four unrelated headlines today that are actually one story about leverage.
