KC ✭

BREAKING: Copper prices have surged to a record $6.58 per pound, now up +75% since October 2023 and over +40% in 12 months. The surge comes amid tight supply, declining inventories in China, and surging demand for data center construction. Furthermore, supply disruptions at the world's 2nd-largest copper mine in Indonesia are adding to the pressure. Meanwhile, China's exports jumped +14% YoY in April, led by booming clean-tech shipments, components that are materially copper-intensive, tightening the market even further. The global economy is scrambling for copper.

@PropJoeDFS The Rockies against Skenes is a very gutsy move brother

MLB for $20,000 🚀

@shitcoinity @Jackkk You just had to find a way to make it about Jews lmfao fuck off buddy, what a degen

@Jackkk Entirely disgusting circus. It's all fake garbage Jewish engagement bait btw.

Alice Rosenblum is repulsed after meeting a guy who’s spent $2,000,000 on her Alice: “I’m really scared, kick him out now” Clavicular: “I’m glad you know now a little bit about these people that are doing this, it’s sad really”

It’s DEAFENING in Montreal before the puck even drops

Cam Schlittler’s ERA is now 1.35. Insane. Retweet if you love Cam Schlittler.

ServiceNow expects to hit $30B ARR in 4 years. "We're going to double the company again. And, we're going to do that by 2030." - Bill McDermott, CEO $NOW

Premarket Movers: Mag 7 stocks are all higher (Tesla +1.4%, Alphabet +0.05%, Nvidia +0.9%, Microsoft +0.03%, Amazon +0.3%, Meta Platforms +0.3%, Apple +0.8%) Akamai (AKAM) rises 25% after the company announced that a leading frontier AI model provider had committed to $1.8 billion over seven years for its Cloud Infrastructure Services. The company also reported its first-quarter results and gave an outlook. Block (XYZ) gains 7% after the digital payments company forecast adjusted operating income for the second quarter that beat the average analyst estimate. Expedia (EXPE) drops 7% after the online travel company forecast tepid gross bookings for the second quarter, with analysts pointing to macroeconomic pressures weighing on guidance. Fluence Energy (FLNC) rises 23% as Roth analyst Justin Clare raised the recommendation to buy on growing orders. Forward Air (FWRD) plunges 45% after the transportation services firm said it received no actionable proposals for a sale. JFrog (FROG) rises 14% after the software company reported first-quarter results that beat expectations and gave an outlook that is seen as conservative. Analysts highlighted an acceleration in cloud revenue growth as a highlight. Innodata (INOD) climbs 39% after the professional services company boosted its revenue forecast for the full year. Monster Beverage (MNST) rises 7% after the drinks company reported first-quarter adjusted earnings per share that beat the average analyst estimate. JPMorgan raised its price target. NLight shares (LASR) rise 13% after the maker of semiconductor laser products reported adjusted earnings per share for the first quarter that beat the average analyst estimate. Rocket Lab (RKLB) climbs 7% as the space company reported revenue for the first quarter that beat the average analyst estimate. Trade Desk (TTD) falls 12% after the advertising-technology company reported adjusted first-quarter earnings that missed expectations. Wendy’s (WEN) rises 4% after the fast-food chain reported adjusted earnings per share for the first quarter that beat the average analyst estimate.

AI is driving US economic growth: Investment in software and IT equipment contributed +134 basis points to Q1 2026 GDP growth of 2.0%, the largest quarterly contribution in history. This means that 67% of last quarter's economic growth was driven by AI. To put this differently, without this AI-driven tech investment, Q1 GDP growth would have been close to flat. This contribution also exceeds the 1999 record by ~10 basis points. Over the last 5 quarters, investment in software and IT equipment contributed +90 basis points on average per quarter, the most for any 5-quarter period on record. The US economy has become highly reliant on AI.

The bond market is under serious pressure. The 10Y Treasury yield now exceeds the S&P 500’s earnings yield by ~90 basis points, the 2nd-largest negative spread in 24 years. Over the last 5 years, the difference in yield has dropped -680 basis points. The S&P 500 equity risk premium has been negative since mid-2024, except for a brief jump in April 2025. This means that, in theory, less risky 10-year Treasuries are now offering a higher yield than the S&P 500. In other words, investors are penalized for taking the extra risk of owning stocks over bonds. Historically, this has been associated with high risk appetite and stretched equity valuations. The bond market is under historic pressure.

AI is driving consumer energy costs higher: The RGGI carbon price, which covers CO2 emissions from power plants across 10 northeastern US states, jumped +31% last week, to $47 per metric ton, the highest in at least 4 years. This increase briefly pushed RGGI prices past California's record CO2 price of $44 set in 2024. In other words, AI-driven power demand in the Northeast is repricing carbon risk faster than California's broader economy-wide market, with RGGI having historically traded at a fraction of California's price. This comes amid anticipation of Virginia's planned return to the market in July which will sharply increase demand for carbon permits, as this state contains a large amount of AI data centers. This is adding further pressure to consumer electricity bills, which are already rising due to the AI-driven boom in power demand. The AI buildout is redefining energy markets.

🚨 NEW ETF FILING Roundhill has filed to launch the: $MAGP Roundhill Magnificent Seven Plus ETF The fund tracks 11 companies: Magnificent Seven: Google $GOOGL, Amazon $AMZN, Apple $AAPL, Meta $META, Microsoft $MSFT, Nvidia $NVDA, Tesla $TSLA Magnificent Plus: Broadcom $AVGO, Anthropic, OpenAI, SpaceX Ticker and fees TBA.

Instant classic

John Sterling’s final home run call Rest In Peace ❤️

JUST IN: A former JPMorgan staffer who is reportedly identified as Chirayu Rana has been accused of making fabricated sexual-harassment claims against a high-ranking executive at the bank after an internal investigation found no evidence of wrongdoing — The Post

This is unprecedented: The semiconductor sector, $SOX, has rallied +150% YoY, the strongest 1-year increase since the 2000 Dot-Com Bubble. This even surpasses the +100% surge during the recovery from the 2020 pandemic. $SOX has now closed higher for 18 consecutive trading sessions, the longest streak in history, overtaking the previous record of 15 days set in 2014. Historically, the performance of semiconductor stocks has been a leading indicator for the ISM Manufacturing PMI Index. If the relationship still holds, the Manufacturing PMI could surge to as high as 60 points, the highest level since 2021. Excluding 2021, that would be the highest reading in 22 years. US manufacturing may be on the verge of historic expansion.

AI infrastructure stocks are booming: AI infrastructure stocks have outperformed the equal-weight S&P 500 by +115% since December 2023, more than any other AI-related category. This group covers semiconductors, data center operators, cloud providers, networking equipment firms, and power companies, among others. This is followed by a +45% outperformance from mega-cap hyperscalers, including Microsoft $MSFT, Alphabet $GOOGL, Amazon $AMZN, and Meta $META. AI productivity stocks, which track companies using AI to cut costs and boost efficiency rather than build the technology, have outperformed by +10% over the same period. Meanwhile, software names have been the weakest group, trailing the average stock by -20%. AI infrastructure stocks are driving the revolution.

The AI investment cycle is only accelerating: Global data center CapEx driven by AI is projected to reach $5.2 trillion by 2030, according to McKinsey. IT equipment would represent ~$3.3 trillion of that total, followed by data center infrastructure at ~$1.6 trillion and power generation at ~$300 billion. This assumes 125 incremental gigawatts of new AI data center capacity added between 2025 and 2030, requiring as much electricity as ~125 nuclear reactors to power. In an accelerated demand scenario, total CapEx could rise to $7.9 trillion, with 205 incremental gigawatts of capacity added. A constrained scenario would require $3.7 trillion, with 78 incremental gigawatts added. The investment is expected to be driven by mass adoption of generative AI, enterprise integration across industries, competition between mega-cap tech and other firms, and governments investing heavily in AI infrastructure. The AI buildout is set to reach unprecedented scale.

Semis most overbought ever

US semiconductor stocks just saw another historic day: The semiconductor sector outperformed the software sector by +8.4 percentage points on Thursday, the biggest one-day outperformance on record. Since April 2025, the ratio of semiconductor stocks relative to software stocks has fallen -70 points, to the lowest in history. This comes as the Semiconductor Index, $SOX, has rallied +183% over this period. At the same time, software stocks are up just +5%. $SOX, has now closed higher for 17 consecutive trading sessions, the longest streak in history. Investors are rotating from software to semiconductor names at an unprecedented rate.

WILD! Video captured from an airplane shows a tornado striking Vance Air Force Base in Enid, Oklahoma.