Monday Market Open

Dear Winner,

I hope anyone celebrating the 4th and Canada day had a blast. But it’s back to the grind. The lambo isn’t going to buy itself ! Plenty to catch you up on and to get you filled in for the upcoming week.

Let’s smash it !

Market Indices & Commodities

News
The Recap

In case you missed it, forgot, overslept, drank too much, were traveling, or whatever the case may be…

• Boeing plead guilty to criminal fraud charge over 737 Max crashes ✈

• Hurricane Beryl made landfall in Texas, as category 1 storm hurdles through state 🌀 

• Meta Stock jumped almost 6%, hitting all time highs after Mark Zuckerberg posted a 4th of July video 📈

• S&P 500 and NASDAQ celebrated the 4th of July by hitting all time highs 📑

• Tesla’s stock jumped up to 26% last week despite Q2 delivery numbers being less than last year 🚗

•  Labour party elected in UK elections, after 14 years of conservatives in power 🇬🇧 

Graph of the Day
Semiconductor Production Competition 🎯 

News
This week

Another big week, earnings, news, economic data, events, the whole 9 yards. Get the scoop on what is important to know for this week.🎯

• Monday - May Consumer Credit: $7.3B vs. $6.4B in April, Greenbrier Companies Inc. (GBX) earnings ⚡

• Tuesday - Tuesday & Wednesday, 10 AM ET: Powell’s testimony to the Senate and House. Last time was hyper volatile—stay alert! Helen of Troy Ltd. (HELE), SMART Global Holdings Inc. (SGH) eanings

• Wednesday - EIA Crude Oil Inventories, MBA Mortgage Applications Index, Wholesale Inventories, Manchester United PLC (MANU), WD-40 Co. (WDFC), PriceSmart Inc. (PSMT), AZZ Inc. (AZZ) earnings

• Thursday - CPI Report before the open. Tracking everyday item prices like food, clothing, shelter, and medical care. PepsiCo Inc. (PEP), Delta Air Lines Inc. (DAL), Conagra Brands Inc. (CAG) ⚡, Treasury Budget

• Friday - Producer Price Index (PPI), Core PPI, JPMorgan Chase & Co. (JPM), Wells Fargo & Co. (WFC), Citigroup Inc. (C), Bank of New York Mellon Corp. (BK), Fastenal Co. (FAST) earnings

⭐ US Q2 earnings season begins this week, and will dominate the news for the next few weeks. Banks kick things off as normal, and are in strong form after the gains of the past eight months.

Now You Know 
Hedge funds are piling into power ⚡

Global trading volumes for electricity futures between 2019 and 2023 have increased by 35%. Some regions have seen much bigger increases, with Nordic volumes surging 14-fold.

You may find yourself asking the simple question of why ? Well, one reason is the volatile electricity and natural-gas prices that could remain turbulent. Hedge funds have so much confidence in this are they are offering incentives like big sign-on bonuses, large profit-share deals and company cars with drivers to lure traders from utilities, banks and rival investment shops.

A Texas-based hedge-fund firm with a focus on electricity trading, whose assets under management have roughly doubled since the start of 2022, to about $470 million.

However, it isn’t just the volatile market behind this boom. The rise of AI and it’s extremely energy intensive production is a player, as well as the recent pledges for an energy transition to more environmentally friendly ways.

The proof of this power serge is blatant. Almost everywhere you look it’s being done. For example, Bobby Jain, formerly co-chief investment officer at Millennium, launched a hedge-fund firm this month after securing $5.3 billion in commitments. Jain Global has hired more than 10 portfolio managers for commodities, which will be a key asset class. Within commodities, power and gas will be the biggest initial focus.

This is just a few of many companies going down this road. So, I would recommend checking it out yourself, if you haven’t already.

^_NEWS
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That’s all Folks

Hey, thank you for checking out Monday Market Open. I hope you enjoyed it, learned something new, and are feeling ready to attack the week. Keep an eye on your inbox for more Alpha coming your way this week.

Cheers,