Precious Metals Market - The gold market has shown significant movement, breaking the $5,000 level, indicating potential economic cracks that could worsen [1][3] - The gold to silver ratio suggests a shift from disinflation to a potential hyperinflation cycle, with increasing demand for commodities despite projected economic growth [2] - The recent decline of the dollar, with the DXY breaking below 97, raises concerns about purchasing power and geopolitical relationships [5][6] Market Reactions and Earnings - Upcoming earnings reports from large-cap tech companies are anticipated, with a focus on how they will react to economic conditions rather than just the reported numbers [8][9] - Earnings reports are seen as backward-looking, and the market's reaction to these reports will be crucial, as evidenced by Netflix's negative reaction despite fine earnings [10] - Companies like Meta and Microsoft are under scrutiny for their capital expenditures related to AI and advertising trends, which could impact their margins and overall performance [21][24] Economic Indicators and Market Trends - Small-cap stocks have outperformed the NASDAQ this year, indicating a potential shift in market dynamics [13] - Durable goods data has shown positive growth, suggesting optimism for the U.S. economy, but the sustainability of this growth remains uncertain [14] - Biotech stocks are beginning to show signs of recovery after a prolonged period of pressure, indicating a possible rotation in market focus [15] Tesla and EV Market - Tesla's upcoming earnings are expected to reflect a significant year-over-year drop in earnings, with concerns about the impact of the elimination of EV tax credits on demand and revenue [60][62] - The company has missed earnings expectations in several recent quarters, raising caution among investors regarding its future performance [59] - Tesla's regulatory emissions credits, a high-margin revenue source, are expected to diminish, further affecting its bottom line [62] Apple and AI Integration - Apple is expected to report strong iPhone sales, but concerns about rising component costs and potential price increases could impact margins [75][76] - The integration of AI into Apple's products, particularly Siri, is a key focus, with expectations for deeper integration to drive hardware upgrade cycles [81][83] - The upcoming guidance from Apple is critical, as it may influence investor sentiment and stock performance moving forward [73][74]

Welcome to Morning Brief. I'm Julie Hyman. Actually snowed in in New Jersey along with millions of people across the country.We will be tracking the brutal winter storm that has affected 17 states in the United States and left millions of people uh without power. But let's get to the three things that you need to know today besides the storm. We're watching markets as it's a big week here.A lot going on this week. Ahead of that, futures aren't much changed, but we will of course be watching what's going on ...

Group 1 - The U.S. operation leading to the ouster of Nicolás Maduro has significantly changed the landscape in Venezuela, with President Trump advocating for U.S. oil companies to revitalize the country's oil infrastructure [1] - Venezuelan stocks have surged by 260% since mid-December, driven by investor optimism regarding a more favorable business environment and increased oil production under U.S. influence [2] - The Venezuelan stock market is characterized by low liquidity, making it susceptible to significant price movements from minimal trading activity [4] Group 2 - U.S. sanctions and government mismanagement have hindered the popularity and liquidity of the Venezuelan stock market, complicating access for foreign investors [4] - Hyperinflation and substantial debt issues have deterred significant investment interest, with the Venezuelan government owing billions to U.S. oil companies due to unfavorable contract renegotiations [5] - There are potential avenues for indirect exposure to Venezuelan stocks through certain stocks and bonds, with the possibility of direct investment options emerging as a U.S. firm seeks to launch a dedicated ETF [7][8]

Economic Background - Venezuela was once the leading economy in South America due to the discovery of massive oil reserves in 1922, currently holding the largest reserves globally at 303 billion barrels [1] - Despite this wealth, Venezuela's economy is now the poorest in South America, raising questions about the mismanagement of its oil resources [1] Nationalization and Socialism - The nationalization of foreign oil companies in 1976 marked a significant turning point, leading to the establishment of Petróleos de Venezuela, S.A. (PDVSA) as the state-owned oil company [1] - The election of Hugo Chavez in 1998 initiated a shift towards socialism, with the introduction of "Plan Bolivar," aimed at poverty alleviation through infrastructure and health initiatives [4] Management Issues - In 2002, Chavez's government dismissed top PDVSA executives and 18,000 skilled workers, leading to a decline in operational expertise within the company [5] - The appointment of political allies over qualified professionals resulted in mismanagement, causing a rapid decline in oil production from 3.7 million barrels per day in 1970 to 1.1 million barrels per day recently [7] Economic Decline and Hyperinflation - Nicolás Maduro's presidency, starting in 2013, exacerbated the economic crisis, leading to hyperinflation that peaked at 375,000% in 2019 due to excessive money printing to fund government services [11] - The government's reliance on oil revenues failed as production and revenues fell, leaving the economy without alternative sectors to support it [12] Migration and Sanctions - Over the past decade, U.S. sanctions have targeted Venezuela, restricting financial arrangements with the government and contributing to economic isolation [15] - The number of Venezuelans living abroad surged from 700,000 in 2015 to approximately 7.9 million by last year, indicating a significant brain drain of skilled workers essential for economic recovery [16]

Group 1 - The Supreme Court's delay in ruling on President Trump's tariffs may indicate a favorable outcome for the Trump administration, according to JPMorgan analysts [2] - Jamie Dimon, CEO of JPMorgan Chase, has ruled out the possibility of becoming the Federal Reserve Chair but is open to the role of Secretary of the Treasury if invited [3] - Kevin Hassett, Director of the National Economic Council, claims the U.S. economy is thriving under Trump's policies despite the Federal Reserve's high interest rates [4] Group 2 - Economist Justin Wolfers warns that threats from the Trump administration against the Federal Reserve could lead to hyperinflation, drawing comparisons to economic crises in Argentina, Russia, and Venezuela [5] - Peter Thiel has donated $3 million to oppose a proposed California wealth tax aimed at billionaires, which would impose a 5% tax on assets over $1 billion to address federal budget cuts affecting healthcare [6]

Donald Trump’s feud with the Federal Reserve has an ugly precedent — Turkey. Earlier this week, Federal Reserve Chair Jerome Powell told the world that the Department of Justice had subpoenaed the central bank and threatened him with a criminal indictment. What for? To pressure Powell to drop interest rates, he said — something the agency did twice last year. Trump has repeatedly criticised the Fed for keeping rates high, arguing the decision has hurt housing affordability and economic growth. But tha ...

Core Insights - The potential return of Venezuelan opposition leader María Corina Machado could influence the future of Bitcoin in Venezuela, especially following Nicolás Maduro's ouster [1] Cryptocurrency Adoption in Venezuela - Venezuela has a significant history of cryptocurrency usage, driven by hyperinflation and the need for monetary stability among citizens, as well as the government's reliance on Tether and Bitcoin to circumvent sanctions [3] - The country recorded nearly $45 billion in cryptocurrency transaction volumes from July 2024 to June 2025, surpassing nations like Japan and Argentina in the 2025 Global Crypto Adoption Index by Chainalysis [4] Bitcoin Holdings and Speculations - Reports suggest Venezuela may possess a substantial Bitcoin reserve, with estimates ranging from $22 million for 240 BTC to as much as $60 billion according to Project Brazen [5] - Speculation exists that the U.S. could potentially seize Venezuela's Bitcoin reserves, which could positively impact the market, although the legality of such actions is uncertain [6] Political Landscape - The current political situation in Venezuela, with Maduro's deputy Delcy Eloína Rodríguez still in power, raises questions about Machado's ability to assume leadership in the near future [7] - Betting markets indicate low confidence in the U.S. recognizing Machado as Venezuela's leader, despite her commitment to return to the country [9]

Group 1: Political Developments - U.S. special forces captured Nicolás Maduro and his wife, indicting them on charges including narco-terrorism conspiracy and cocaine importation conspiracy [1] - President Donald Trump announced that the U.S. would initially take over the administration of Venezuela to ensure a safe transition [2] Group 2: Economic Challenges - The Venezuelan Bolivar has weakened by 469% over the last 12 months, indicating severe currency instability [2] - Inflation in Venezuela reached an all-time high of 344,509.50% in February 2019, with economists suggesting the true rate was likely even higher [6] - The economic issues in Venezuela are attributed to poor economic policies dating back decades, including the nationalization of oil and gas companies in 1976 [6][7] Group 3: Oil Industry Impact - The collapse of PDVSA's crude oil output, which fell from a peak of 3.5 million barrels in December 1997 to 1.1 million barrels recently, is linked to political appointments over skilled management [13] - The Trump administration expressed dissatisfaction with the historical nationalization of the oil industry, claiming that American talent built it [9][10] Group 4: Humanitarian Crisis - Approximately 15% of the Venezuelan population, around 4 million people, urgently need food assistance, highlighting a severe humanitarian crisis [14] - Food shortages began in 2016, leading to extreme measures such as zoo animals being stolen for food [16] - By 2018, the average Venezuelan had lost more than 20 pounds, and there was a resurgence of malaria in several states [17]

Kiyosaki isn’t a stranger to making bold claims about a possible economic collapse — he’s done it many times before. Here’s a review of some of the claims in his X post to try to verify their accuracy and how hyperinflation affects your money.Kiyosaki believes everything in the economy will become more expensive, from interest rates for borrowing money to basic necessities. His reasoning is likely that, with the Fed printing money, this could devalue the American currency and lead to higher inflation . It’s ...

on exchanges. I can imagine that the average sort of customer segment is very much younger day trading. Ours is much more of an investment long-term mindset and is very much reflected with the the average age of our of our customers being perhaps a little bit older than people would expect. The second thing that might be a little bit surprising is What's going on guys? We got a great conversation today with Sheamus Rocka. He is the CEO of Zapo Bank. They are one of the most important critical pieces of infr ...