The Kobeissi Letter
ISM Manufacturing PMI jumps to 55.6, highest since May 2022
The US manufacturing recovery is accelerating: ISM Manufacturing PMI rose 2.3 points in July to 55.6, the highest since May 2022, marking a seventh...
SanDisk shares drop over 10% despite beating earnings estimates
SanDisk stock ticker SNDK dropped more than 10 percent after the company reported earnings that exceeded analyst expectations. The price reaction...
Chinese investors pour $1.2B into gold ETFs over 14 days
Chinese investors are reallocating to gold-backed ETFs as equity volatility rises in China, signaling a preference for perceived safe-haven assets.
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US job openings fell 178,000 in June to 7.36 million
US job openings fell by 178,000 in June to 7.36 million, the lowest since March, marking a second straight monthly decline and a cumulative drop of...
Markets cut September Fed hike odds to 47%, pricing extended pause
The probability of a Federal Reserve rate hike in September has fallen from 70% to 47%. If the Fed holds rates, it will mark the longest pause since...
SpaceX unlocks 911.5M insider shares, doubling free float to 11.8%
A combined 911,500,000 SpaceX (SPCX) shares held by employees and early investors become eligible for trading tomorrow. This represents...
Trump cancels Iran strike and announces deal to reopen Hormuz
President Donald Trump announced cancellation of a planned US military strike on Iran and said the parties have agreed on the perimeters of a deal....
Trump Media launched Truth API offering real-time Trump posts for $100k/month
Trump Media launched a paid data service named Truth API that offers faster access to Truth Social posts from President Donald Trump. The company’s...
US 30-year yield hits 5.27%, highest since 2007
The US 30-year Treasury yield has risen to 5.27%, the highest since June 2007. This is a 450 basis point increase from the 2020 low. At the current...
KOSPI jumps 15% as global chip stocks rally
South Korea’s KOSPI jumped nearly 15% amid a broad rally in global semiconductor equities. The move aligns with outsized gains across chipmakers,...
Over 1.2 million Korean retail accounts faced margin calls, KOSPI fell 18%
Goldman Sachs reports widespread stress among South Korean leveraged retail traders as of July 13: over 1.2 million margin accounts triggered margin...
