Have a great day
Indications
Nickel 3 month $8.16
Cash Last $8.073
Euro 1.146
Yen 160.86
gold $4261..54
silver $67.17
Copper LME $6.189
Copper Comex $6.364
Cobalt $ 27.75-30.25
Zinc $ 1.62
Tin $ 24.44
Crude $ 75.14 down .66%
Dow Jones down .98%
FTSE 100 down .77%
Dax up .39%
Hang Seng down 1.59%
Nikkei up 1.65%
U.S. Dollar index 100.68 up .58%
Quote of the Day
Jealousy is the tribute mediocrity pays to genius.— Fulton J. Sheen
Word of the Day
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A gamut is a range or series of related things. When we say that something “runs the gamut,” we are saying that it encompasses an entire range of related things.
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// The flea market offerings run the gamut with a wide array of vendors each offering something unique.
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Trivia
Which planet is distinguished by a continuously rotating storm known as "the Great Red Spot"?
Answer: at bottom of page under good read.
News of Interest
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Iran Deal Signed |
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The US and Iran have remotely signed their deal to end hostilities, reopen the Strait of Hormuz, and launch negotiations regarding Iran's nuclear program, Pakistan's prime minister said yesterday. Read the 14-point memorandum of understanding here. The agreement covers the return of ship traffic through the Strait of Hormuz and is predicated on an end to the fighting between Israel and Hezbollah in Lebanon. Details surrounding Iran’s nuclear program and existing stockpile of enriched uranium are slated to be negotiated over a 60-day period. Trump said the US Space Force will monitor whether Iran tries to recover materials from its bombed nuclear facilities. At a minimum, Iran promises to down-blend its uranium in the presence of international observers. The text outlines a $300B plan for Iranian reconstruction, and the US will issue waivers for its oil sanctions against Iran. The deal does not cover Iran’s missiles, around 70% of which are reportedly still intact. |
New Fed Chair Kevin Warsh announced yesterday that the Fed voted unanimously to hold interest rates steady in the 3.50%–3.75% range. But things might not stay steady for long. Even though Warsh was nominated by President Trump with an expectation that he would lower interest rates quickly, the central bank signaled that rates might actually go up this year.
A lot has changed since Warsh was nominated: Since he was chosen as the new chair by President Trump in February, the war in Iran turned inflation red-hot. This led to Trump telling Warsh in May to “do your own thing”...and that thing was keeping rates the same (for now).
Now, rate hikes seem more likely: Yesterday, nine of 19 officials projected a rate hike coming this year after none did so in March. That increased the odds of two rate hikes in 2026 from 17% on Tuesday to 37% yesterday, per CME Group, and set markets tumbling following Warsh’s afternoon press conference.
Nickel & Related Metal News
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Good Read
Answer to today's trivia question:Jupiter