🚀 Inflation rises to 2.7%

Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. U.S. inflation ticked up in June to a 2.7% annual rate, the highest since February, as Trump’s tariffs begin influencing prices, especially in apparel and home furnishings. Core inflation, excluding food and energy, rose 2.9% year-over-year. While vehicle prices dropped and shelter costs remained the largest contributor, economists say it's still unclear how much of the price pressure is tariff-driven. Real wages dipped slightly, and markets remained calm, expecting the Fed to hold rates steady this month and potentially cut in September, despite ongoing pressure from Trump to lower rates sooner.

2. Washington’s “Crypto Week” could deliver a historic win for the digital asset industry. The House of Representatives is poised to pass the GENIUS Act, a bipartisan stablecoin bill already approved by the Senate, making it likely that it will be the first standalone cryptocurrency legislation to become law. But a broader and more consequential bill, the CLARITY Act, which defines whether digital assets fall under SEC or CFTC oversight, faces a more significant Senate fight as Democrats raise alarms over President Trump’s crypto ventures. Meanwhile, a separate bill barring the Fed from launching a central bank digital currency is also expected to pass.

3. Google will invest $25 billion in data centers and AI infrastructure across the PJM electric grid, the largest in the U.S., spanning 13 states, to meet surging demand from the AI boom. The tech giant also plans to spend $3 billion modernizing two Pennsylvania hydropower plants as part of a broader deal with Brookfield Asset Management to secure 3,000 megawatts of hydroelectric power nationwide. The announcement coincides with a high-profile meeting in Pittsburgh between President Trump, tech leaders, and energy officials to discuss AI investment in the region.

   Headlines

   1. MP Materials gained 23% after annoucing a $500M deal with Apple to supply them with rare earth magnets.

   2. Coreweave stock gained nearly 10% after annoucing a new AI datacenter being built in Pennsylvania for $6B+.

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Onwards and Upwards,

Liam Gill