Almost there! The S&P 500 (SPX) climbed even closer to an all-time high yesterday, riding a whirlwind of news, including an intransigent Fed chair. It's clear the Street isn’t buying his act. The Street is buying a soft-landing scenario—soft but bumpy. 

Nine out of eleven sectors finished higher, with Technology (XLK) setting the stage.

I’m digging all the green in Financial (XLF) and Communication Services (XLC).

Leaderboard

Coinbase's (COIN) stablecoin story continues to blossom.

A global phenomenon that’s wrecking the financial transaction establishment.

Chips Ahoy

Five of yesterday’s top advancers were semiconductors. The Semiconductor Index (SOX) is on the cusp of a significant breakout and could lead the S&P 500 higher.

All factors were green.

Prices Plummeting

I know Powell is scared out of his wits about the inflation tsunami, but there are more signals that prices may have peaked, including yesterday’s Philly Fed.

• The reason is the economy is slowing down.
• Did I mention the soft landing would be bumpy?

Today’s Session

Major indices are looking to open in the green. Investors are watching out for further Powell comments, during his testimony today.

Interestingly, oil is indicating higher after the big move lower, while natural gas continues down.

Comments

Deflationary shelter (lagged but imminent) will more than offset inflationary tariffs. August Belmont on 6/25/2025 11:24:46 AM

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