Modest Bounce in Refi Demand Despite Rate Volatility
Mortgage applications rebounded last week, with the Mortgage Bankers Association reporting a 10.8% seasonally adjusted increase for the week ending June 5. The surge was driven primarily by refinance activity, which jumped 15% from the prior week and was 20% higher than a year ago, despite the 30‑year fixed rate edging up to 6.60%. Purchase applications also rose 7% week over week, while adjustable‑rate mortgages saw a 12% weekly gain. The data suggests a normalization after a holiday‑shortened period rather than a fundamental shift in demand.
European Longs Steel Traders See Weaker 2H
European steel traders anticipate a softer second half of 2026 after a supply‑driven rally earlier in the year. Prices surged following the US‑Israel‑Iran war, with rebar climbing €167.50/t ($194/t) in Italy and €100/t in Germany and Spain, but inventories are...
Existing-Home Sales Reach Five-Month High as Affordability Improves
Existing-home sales climbed 3.2% in May, reaching a seasonally adjusted annual rate of 4.17 million—the strongest pace since December. The median home price rose to $429,300, marking the 35th consecutive month of price gains, while the Housing Affordability Index improved to...
Buffer ETFs Give Cash-Shy Investors a Way Back In
Goldman Sachs and Innovator analysts highlight buffer ETFs as a tool for advisors to re‑enter cash‑shy clients into equity markets. These funds embed predefined downside buffers—typically 5% to 15%—while preserving upside potential. The structure allows investors to own a diversified...
Stock Market Today, June 12: SpaceX Mega IPO Soars, Testing Tech Stocks at Midday
SpaceX launched the largest Nasdaq debut in history, a $75 billion offering that surged nearly 20% to $161.33 within hours of listing. The rally lifted the Dow Jones Industrial Average 0.38% to 51,040.07, while the S&P 500 edged up 0.12% to 7,403.38...
Free Weekly Stock Market Commentary 6/12/2026
The S&P 500 slipped about 5% in early June, dropping below its 20‑day moving average and losing its bullish designation. Technical analysis now shows resistance around 7,500‑7,520 and support at 7,237, with stronger support near 7,050‑7,175 and a critical floor at...
Eli Lilly Stock Hits Buy Zone As Earnings Soar 156%. Funds Are Loading Up.
Eli Lilly (LLY) is trading in a buy zone after reporting a 156% earnings‑per‑share jump to $8.55 and a 56% revenue surge to $19.8 billion in Q1 2026. The company’s obesity drugs Mounjaro, Zepbound and the next‑generation retatrutide are fueling pipeline optimism....
Elon Musk Becomes the World's First Trillionaire as SpaceX Starts Trading
Elon Musk became the world’s first trillionaire when SpaceX debuted on Nasdaq at $150 per share, an 11% premium to its $135 IPO price. The offering sold 555.6 million shares, raising $75 billion and valuing SpaceX at $2.18 trillion, setting a new IPO...
Will Poet Technologies Stock Double This Year?
Poet Technologies (NASDAQ: POET) fell 27% last week, trading at $11.25, but analysts maintain a BUY rating with a 24/7 Wall St. price target of $22.49, suggesting roughly 100% upside. The bull case hinges on a $50 million Lumilens purchase order...
Pharmaceutical Executive Daily: Kardigan Sets Terms for $350 Million IPO
Cardiovascular biotech Kardigan announced terms for a $350 million IPO, proposing to sell 23.3 million shares at $14‑$16 each, which would value the company at roughly $1.3 billion on the Nasdaq under the ticker KARD. The offering will fund its three late‑stage programs,...
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Stock Market Today: SpaceX Shares Soar 20% in Debut; Indexes Rise as Oil Falls Amid Conflicting US, Iran Accounts of...
SpaceX made a spectacular market debut on June 12, 2026, opening at $150 and climbing to about $165, a 22% jump that puts its market cap near $1.8 trillion – the largest IPO ever at $75 billion raised. The broader market followed suit,...
The USDCAD Comes Off the New Highs for the Year but Prior Highs Stall the Fall
The USDCAD pair climbed from 1.3549 in early May to a 2026 peak of 1.4023, marking a strong bullish run. Technical analysis shows the pair has stayed largely above its 200‑hour moving average, with only brief dips under the 100‑hour...
Morningstar DBRS Confirms Credit Rating on Classic RMBS Trust, Series 2021-1
Morningstar DBRS reaffirmed its AAA (sf) rating on the Class B Mortgage Pass‑Through Notes, Series 2021‑1 issued by Classic RMBS Trust. The underlying pool consists of first‑lien Canadian residential mortgages, now amortized to CAD 44.7 million (≈US$33 million) with an 11.2% pool factor....
Burlington Mortgages No.3 DAC: Credit Rating Report
DBRS Ratings GmbH (Morningstar DBRS) has issued credit ratings for the residential mortgage‑backed securities (RMBS) issued by Burlington Mortgages No. 3 DAC. The rating report was published on June 12, 2026 and provides the agency’s assessment of the tranche’s credit quality. The assignment covers the...
Iran War Is Straining African Airlines, Industry Body Warns
The war in Iran has driven up global jet‑fuel prices, exposing African airlines' reliance on imported refined fuel. African carriers were already paying about 17% more than the world average, and the new surge threatens margins that already hover at...
AMD Is Seen as a CPU Stock — but It’s Gaining Ground Here, Too
Advanced Micro Devices (AMD) is benefiting from a surge in CPU demand, but a Citi analyst warns that investors are overlooking a larger opportunity. Meta Platforms plans to deploy up to six gigawatts of AMD’s Instinct GPUs in a multiyear...
Morningstar DBRS Confirms Credit Ratings on Three Abc SME Lease Germany S.A. Transactions
Morningstar DBRS confirmed the credit ratings on three German SME lease‑backed securitisation transactions—abc 8, abc 9 and abc 10—following its annual review. Senior Class A and B notes in abc 8 and abc 9 remain rated AAA (sf), while abc...
Boston Scientific: The Market Is Pricing A Broken Compounder-We See A Reset One
Boston Scientific’s shares have tumbled roughly 53% over the past year as the company slashed its FY26 outlook, citing slower growth for its WATCHMAN atrial‑appendage closure device, concerns over electrophysiology market share, and a mixed read on the CHAMPION‑AF trial....
Wells Fargo Lends $296M on Industrial Portfolio Buy
Wells Fargo provided a five‑year, floating‑rate loan of $296 million to EQT Real Estate for the acquisition of a 20‑property, 2.4 million‑square‑foot industrial portfolio in southern New Jersey and South Florida. The assets are more than 93% leased and host roughly 40 tenants, according...
Use This 5-Step Summer Savings Challenge to Get Ahead by Fall
Kiplinger’s June 2026 “Summer Savings Challenge” outlines a five‑step plan to grow savings during the high‑spending summer months. The guide advises picking a concrete goal, cutting a recurring expense, funneling cash‑back and windfalls, automating weekly transfers through Labor Day, and tracking...
Dwight Capital Refis Missouri Apartments With $36M HUD Loan
Pollard Properties secured a $36 million HUD 223(f) loan from Dwight Capital to refinance its newly built Vista on the Park multifamily community in Wright City, Missouri. The 35‑year, agency‑backed loan will cover the 234‑unit, 1‑ to 3‑bedroom property that features...
What Stripping the Weakest Stocks From the S&P 500 Actually Does for Your Portfolio
The SPDR S&P 500 ETF (SPY) has delivered about 314% total return (≈15.5% annualized) over the past decade, while the quality‑focused ETFs Invesco SPHQ and iShares QUAL lagged slightly, returning roughly 302% and 14.27% annualized respectively. Both quality funds apply screens...
The Tariff Threat To Apple Stock Vanished. Its Replacement Is A Bigger Worry.
Apple posted a 17% year‑over‑year revenue surge and its stock outperformed the market, but management’s commentary has shifted. The company has stopped mentioning tariff exposure, signaling that geopolitical cost pressures have faded. Instead, executives warned of "significantly higher" memory‑chip costs,...
Beyond Impact White Paper Calls for Capital Reorientation Toward Food Ingredient Innovation
Swiss venture capital firm Beyond Impact released a white paper urging investors to shift focus from consumer‑facing plant‑based brands to core ingredient and enabling technologies such as precision fermentation, cellular agriculture, and molecular farming. The paper quantifies a $190 billion addressable...
Jet Fuel Prices Slide on Hormuz Hopes
Jet fuel prices dropped sharply after President Donald Trump abruptly called off a planned strike against Iran, reigniting hopes that the Strait of Hormuz could reopen this weekend. ICE low‑sulfur gasoil futures slipped below $1,000 per metric ton, the first...
RBI Forex Measures to Lower Banks' Overseas Borrowing Costs by 2-2.5 per Cent, Aid Inflows: Report
The Reserve Bank of India has launched a concessional USD‑INR swap facility to cut the cost of external commercial borrowing for banks by 2‑2.5 percentage points. The measure, paired with a refreshed FCNR(B) deposit framework offering 6‑7% yields, aims to attract...
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3 Smart Reasons to Put Your Kid's Savings Account in Their Own Name—Including a Shot at 10%
Opening a savings account in a child’s own name can let the interest grow tax‑free, since the earnings are taxed at the child’s typically low or zero marginal rate. Youth‑focused accounts are now offering eye‑popping APYs—some as high as 10.38%...
Building a Retirement Paycheck: A Dividend Growth Portfolio Based on Value Investing Principles
Chuck Carnevale answers a viewer’s query about constructing a retirement‑income portfolio for a 63‑year‑old investor. He emphasizes a systematic process rather than stock picks, leveraging value‑investing criteria to isolate high‑quality dividend growers. The FAST Graphs platform serves as his analytical...
SpaceX's 'Out-of-This-World' Valuation Supported by Its Rocket Launch 'Moat,' Says Wolfe Research
SpaceX’s IPO has been assigned a $1.77 trillion valuation, which Wolfe Research says is justified by its near‑monopoly launch business. Wolfe initiated coverage with an outperform rating and a $175 price target, implying about 30% upside, while Oppenheimer and New Street...
Morningstar DBRS' Takeaways From CREFC Annual Conference 2026: How Private Credit Is Expanding Into Commercial Real Estate
At the CREFC 2026 conference, panelists highlighted a rapid shift of insurance‑company capital into private‑credit commercial real‑estate (CRE) deals, filling the financing void left by the 2023 regional‑bank collapse. CRE collateralized loan obligations (CLOs) have rebounded, with $30 billion issued in...
The Broader US Stocks Indice Are Lower. What Are the Technicals Telling Traders?
U.S. equity indices rallied on hopes of a Middle East cease‑fire, but retreated after Iran signaled resistance to parts of the deal, re‑injecting geopolitical risk. A stronger‑than‑expected University of Michigan consumer‑sentiment reading helped steady risk appetite, providing a cushion for...
Europe’s Gas Balancing Act: LNG Shortfalls, Rising Russian Flows, and the Race to Refill Storage
European gas storage rose to 40.1% of capacity by 31 May, the lowest late‑May level since 2021 and still well under the five‑year average. The modest gain from 32.7% at the end of April reflects sluggish LNG inflows, hampered by ongoing...
Consistent ETF Investing Beats Market‑Timing Gambles
Trying to time the market is just another form of gambling. You can win a few times in the short term, but the odds are never in your favor in the long run. That's why I invest consistently in broad ETFs, regardless...
MSFT Turns Bearish After Losing Key Moving Averages
$MSFT - There have been 10 consecutive red candles since June 1st(not 10 down days, 2 of them were up days). It lost the 50 day and 100 day moving averages right after a bullish crossover. Now bearish on all...
Morningstar DBRS Changes Trends on Two Classes of A10 Single Asset Commercial Mortgage 2023-GTWY to Stable From Negative; Confirms Credit...
Morningstar DBRS confirmed the credit ratings for the A10 Single‑Asset Commercial Mortgage 2023‑GTWY CMBS series, keeping Class C through E on a Negative trend while upgrading Class A and Class B to Stable. The upgrade reflects a $5 million limited guaranty...
Is Your Spousal Social Security Benefit Bigger Than Your Retirement Benefit? Here's How to Tell.
The article explains how married couples can determine whether their own retirement benefit or the spousal benefit is larger, using the Social Security Administration’s online tools. A spousal benefit can be up to half of the partner’s full‑retirement‑age benefit, and...
263: Asia’s Infrastructure Moment: The Investment Opportunity Behind the Energy Transition
In this episode recorded at Singapore’s Ecosperity conference, BlackRock’s Heidi Yip and Global Infrastructure Partners’ Salim Samaha explain how Asia’s energy transition is driving an unprecedented wave of infrastructure investment. They note that Southeast Asia’s rapid GDP growth is spurring...
TMTB Morning Wrap
Adobe reported Q2 revenue of $6.618 billion, beating estimates, but shares fell 8% as management signaled a $480‑$500 million hit to organic FY26 ARR by prioritizing freemium growth over near‑term monetization. The shift delays Creative Cloud pricing optimizations and coincides with the...
Ask the Tax Editor, June 12: Tax Basis in Inherited Property
Joy Taylor, editor of The Kiplinger Tax Letter, answered five common questions about tax basis in inherited assets. She confirmed that heirs receive a stepped‑up (or stepped‑down) basis equal to the fair market value at the decedent’s death for assets...
Analyst Report: Thor Industries Inc
Thor Industries, the world’s largest RV maker, has withdrawn its 2026 financial guidance as analysts anticipate lower earnings. The pullback reflects a slowdown in both motorized and towable RV demand, coupled with rising component costs and supply‑chain pressures. Thor’s historically...
Oil Prices Extend Declines on Possible U.S.-Iran Peace Deal to Reopen Str...
Oil prices extended their decline on Friday as investors digested mixed reports on a potential U.S.-Iran peace agreement that could reopen the Strait of Hormuz. Brent crude slipped about 2% to roughly $78 a barrel, while U.S. WTI fell to...
Option Sellers See Nifty Trading Between 23,000 and 25,000 in June
Option sellers on India’s Nifty 50 index are forecasting a 2,000‑point trading band of 23,000 to 25,000 for June, based on the highest open‑interest levels at those strikes. The 23,000 put strike holds 93,738 contracts, while the 25,000 call strike...
China Is Learning To Use Less Oil, And That's A Bigger Deal Than It Sounds
China’s oil consumption is falling faster than analysts expected, with gasoline sales at Sinopec down 8% year‑over‑year in April and diesel down 6%. Crude imports plunged 29% in May to 7.8 million barrels per day, the lowest level in eight years,...
Top Gainers & Losers on June 12: MTAR Tech, Ashok Leyland, Tata Motors, Anant Raj, UCO Bank, HPCL Among Top...
Indian equities surged on June 12 as optimism over a U.S.-Iran peace deal drove crude oil prices down 5%, sparking the Nifty 50’s biggest single‑day rise in 2026 at 2%. The broader market followed, with the Sensex up 2.3% and...
A VC’s Guide to Picking Winners
Venture capitalist Tom Bradley outlines the human‑centric rubric his firm uses to pick early‑stage UK tech winners. He emphasizes that founders’ mental agility, deep drive, ruthless resourcefulness, calibrated risk‑taking and magnetism outweigh pure metrics, noting investments of $1.3‑$6.3 million in startups...
Calvin Is Looking for Ways to Avoid Paying Probate in Ontario. What Are the Risks of Doing This?
Calvin, a retired Ontario homeowner, wants to avoid the province’s 1.5% estate administration tax (EAT) on his principal residence. The Financial Post advises that an inter‑vivos (living) trust can sidestep probate fees, but transferring title early carries significant risks. Key...
BofA Sees "Runaway Price Risk" In Spot Sulfur As Global Supply Chain Freezes
BofA analysts warn that spot sulfur prices have jumped to about $1,200 per metric ton, far above the typical sub‑$200 level, as a severe supply crunch tightens the market. Roughly 50% of the world’s seaborne sulfur is stranded behind the...
Pullback Strategy For The S&P 500
A pullback strategy for the S&P 500 targets temporary price retreats to enter trades in the direction of the primary uptrend. The backtested model, applied to SPY from 1995‑2025, logged 341 trades with a 71% win ratio, 0.4% average gain per...
Oil Collapses on Hormuz Optimism, EUR/CAD Rally May Be Just Getting Started
Oil prices plunged back below the $90 barrier, settling around $86‑87 per barrel as traders priced in a possible US‑Iran breakthrough that could reopen the Strait of Hormuz. Iranian state media said a draft MOU would lift sanctions and restore...
From Dollar to Yen: Answering Policy Questions From Around the World
In this episode of Currency Exchange, host Brian Dangerfield and G10 FX strategist Paul Robson dissect the latest central‑bank actions and their impact on major FX pairs. They examine the ECB’s modest 25‑bp hike amid Middle‑East uncertainty, the Bank of...