THE NEWS

Futures Rise As Tech Rebounds In Post-Holiday Catch Up

US equity futures point to a firmer cash open as traders return from the long weekend, but the bigger question is whether investors continue to rotate out of the crowded AI trade and into the broader market.  As of 8:00am ET, S&P futures rise 0.4%, while Nasdaq 100 contract rise 1.1% as most Mag 7 names are in the green.  In premarket trading, chip/memory stocks rebound from last week’s rout which follows the an 18% plunge in the GS High Beta Momentum (GSPRHIMO) basket over the last two sessions, on track for 2nd worst month in >15 years. This follows an APAC session on Monday which took a more downbeat view of the tech sector; South Korea’s Kospi index fell, having gained as much as 3% earlier. Memory chipmaker Samsung Electronics’s preliminary earnings Tuesday will provide further clues on demand for AI infrastructure and the durability of the sector’s growth narrative. The MSCI APAC index fell as much as 0.7% before returning to the unchanged mark. The Stoxx 600 has just slipped into negative territory, down 0.1%, after hitting another record high earlier in the session. The Bloomberg Dollar Spot Index is up 0.2% with the greenback firmer versus most G10 peers. Gains are most pronounced against the yen with USD/JPY venturing as high as 162.31 but still below last week’s multi-decade peak at 162.84. Treasuries are seeing a modest bid with the 10-year yield down 2 basis points at 4.46%. Oil prices fell as flows through the Strait of Hormuz persisted and OPEC+ signaled higher supplies, with Brent trading about 0.4% lower at $71.82 a barrel. Precious metals are on the back foot with spot gold and silver posting respective losses of 0.8% and 0.7%. Bitcoin is down 0.1%. Today’s US economic data calendar includes June final S&P Global US services PMI (9:45am) and June ISM services (10am). Fed speaker slate includes Waller at 11am

In premarket trading, Mag 7 names are mostly higher (Meta +1.4%, Tesla +1.3%, Amazon +0.7%, Alphabet +0.5%, Nvidia +0.3%, Microsoft is unchanged, Apple -0.6%). Chipmakers and other AI-related firms rise ahead of Samsung’s June quarter earnings and updates to SK Hynix Inc.’s massive ADR listing.

Alibaba ADRs (BABA) inch about 1% higher after a federal judge ordered the Pentagon to give the company a reprieve from a law that caused all of its lobbyists to drop it as a client.
Datadog (DDOG) falls 2.4% after Bernstein downgraded the software company to market perform, citing caution about the company’s earnings prospects.
JB Hunt (JBHT) slips 1% after Morgan Stanley cut the recommendation on the freight carrier to underweight, saying the stock’s valuation is “unjustifiable” after a rally.
Kosmos Energy (KOS) rises 4% after the firm provided updated guidance with second-quarter production at its Jubilee oil field in Ghana reaching about 72,000 barrels of oil per day.
Opus Genetics (IRD) rises 2% after saying it reached alignment with the FDA on the design of its Phase 3 trial evaluating OPGx-LCA5 for LCA5-associated inherited retinal disease.
Seer (SEER) climbs 33% after CEO Omid Farokhzad offered to buy the a biotechnology company.
Zim Integrated’s US shares (ZIM) are down 6% after Ynet reported Sunday that Prime Minister Benjamin Netanyahu said a proposed sale was “not on the agenda,” without clarifying how it got the information.
This week presents key tests for tech leadership. SpaceX joins the Nasdaq 100 on Tuesday, likely prompting index-related repositioning. That same day, Samsung’s preliminary earnings are due. Then on Friday comes SK Hynix’s Nasdaq listing, which could be the biggest-ever first-time share sale by a foreign company. 

The events will take on added significance in a week that features a thin data calendar, while the US earnings season is yet to kick into gear. Global stocks have gone through a stretch of uneven trading as investors question whether the past quarter’s AI-driven rally has run too far and whether vast capital outlays are guaranteed to produce strong returns.

The macro calendar picks up on Wednesday with minutes from the Fed’s June meeting. They take on added significance after Warsh shortened the policy statement and declined to contribute to rate forecasts. Bloomberg Economics’ Andrew Sacher expects the account to reinforce the commitee’s focus on above-target inflation and its preference to preserve the option of further tightening. Further detail about Fed-think will likely guide equity positioning into the upcoming earnings season. BNY strategist Geoffrey Yu says the question is whether the Fed can stay patient without seeing inflation risks reemerge. 

Separately, SpaceX is due to join the Nasdaq 100 on Tuesday, an inclusion that may trigger some index-related repositioning.

“Speculative positioning in semiconductors and other hot technology themes is likely to continue being reduced,” said Roberto Scholtes, head of strategy at Singular Bank. “The key question will be whether this triggers a rotation into lagging sectors or a broader correction.”

Morgan Stanley’s Michael Wilson thinks the market broadening story continues to gain momentum as chips underperform; he believes US stocks will struggle to reach new highs as investors rotate out of some of this year’s biggest tech trades. Wilson says momentum is fading in semiconductor stocks as investors shift toward laggards, including AI hyperscalers.  The steep fall in oil has helped to stabilize rates, which is another driver of the rotation to lagging areas of the market, he adds. He favors AI hyperscalers, consumer discretionary goods, transports, and biotech.

For Kokou Agbo-Bloua, global head of research at Societe Generale Corporate and Investment Banking, the market is increasingly learning to live with short-term volatility. “I wonder whether the market is becoming a bit more anti-fragile, in the sense of adapting the news flow and seeing through the noise and focusing on the fundamentals, especially with the whole AI boom and the ecosystem around it,” he said.

In a week with few major data releases, the key variable for Treasuries would be oil prices, said Francisco Simon, European head of strategy at Santander Asset Management. “Specifically, whether the recent downward trend remains in place and whether the newsflow around energy markets continues to stabilize,” Simon said. “Central bank communication could also move markets, although in the absence of significant new developments we would not expect a major shift in tone.”

Defense is also back on traders’ radar ahead of the two-day NATO summit starting in Turkey tomorrow. Trump meets Ukraine’s Zelenskyy there on Wednesday.

European shares slip following Friday’s record close. Stoxx 600 falls 0.2% to 651.15 as investors digest a slate of M&A news, with EasyJet jumping after agreeing to a takeover offer from Castlelake. ITV rose after agreeing to sell an arm to Sky, while Thales has said it wants to buy Exail. Media stocks are outperforming, followed by autos. Utilities and construction sectors are the biggest laggards. Here are some of the biggest movers on Monday:

EasyJet shares jump as much as 11% after the budget airline accepted a takeover offer from US private equity firm Castlelake at 690p a share.
Carlsberg shares gain as much as 3.7% after the Danish brewer and Sapporo agreed to form a strategic joint venture.
DWS and Amundi shares rise to record highs after Morgan Stanley and Citi raise their price targets on the asset management firms.
Schott Pharma jumps as much as 11% after Deutsche Bank upgraded the stock to buy from hold, citing accelerating growth for the German pharma packaging company in 3Q and 4Q, accompanied by improving margins.
Nemetschek shares rise as much as 5.7% after Deutsche Bank resumed coverage of the software company with a buy recommendation.
ITV shares rise as much as 2.4% after the company agreed to sell its Media and Entertainment arm to Sky.
JCDecaux shares rise as much as 3.8% as Oddo BHF (outperform) says it expects the outdoor advertising company’s second-quarter results to turn out better than expected due to the end of the conflict in the Middle East.
OC Oerlikon gains as much as 9.5% as Oddo BHF upgrades the Swiss industrial technology company to outperform from neutral on increased estimates for FY26 that exceed the company’s own guidance.
Exail shares rise as much as 4.2% after Thales said it intends to make a tender offer for the French maker of mine-destroying sea drones following its agreement to buy the Gorgé family’s 35.51% stake.
BE Semiconductor shares slip as much as 7.7% on Monday after South Korea news outlet ZDNet reported that chipmakers may further delay the full adoption of an advanced chip packaging technology.
Close Brothers Group declined as much as 9.3%, after JPMorgan downgraded to sector perform from outperform, saying that the UK motor finance issue has become increasingly uncertain.
Stocks in Asia fluctuated, with Samsung Electronics to come under scrutiny when the chipmaker releases earnings on Tuesday after a 165% year-to-date rally. The report will be followed days later by SK Hynix Inc.’s $28 billion US listing.  The MSCI Asia Pacific Index swung between narrow gains and losses. South Korea’s Kospi index fell, having gained as much as 3% earlier. Memory chipmaker Samsung Electronics Co.’s preliminary earnings Tuesday will provide further clues on demand for AI infrastructure and the durability of the sector’s growth narrative. “The market is in a holding pattern ahead of Samsung’s preliminary results, which is the centerpiece of what’s shaping up to be a semiconductor super week,” said Dilin Wu, a strategist at Pepperstone Group. If the results disappoint, “the conversation shifts to whether this is a cyclical pause or the beginning of something more structural.”  Bucking the trend, Chinese stocks listed in Hong Kong rose for a third day, up more than 1%. Tencent Holdings was the top contributor, after JPMorgan said it expects its stock to rebound thanks to its AI agent launch in Weixin. Japan’s Topix index rose to another all-time high, supported by defense stocks on signs of government policy tailwinds.  In South Korea, the government is looking at creating an investment fund using excess tax revenue from the semiconductor industry to finance long-term economic growth, according to a senior official. Investors are also turning their attention to SK Hynix Inc.’s listing of $29 billion American depositary receipts later this week. Here Are the Most Notable Movers

Tencent shares rise after JPMorgan said it expects the company’s stock price to rebound thanks to its AI agent launch in Weixin. Chinese brokerage stocks rise on earnings optimism.
Shares of Sanrio, owner of the Hello Kitty brand, climbed 6.2% after an analyst report touted an increase in social media followers of its intellectual property.
Shares of Kanzhun rise as much as 4.8% after JPMorgan initiates coverage on its H-share with an overweight rating, saying AI will be a major driver in increasing the online recruitment company’s long-term average revenue per use.
Shenzhen Xunce Technology shares rise as much as 15% in Hong Kong after the company said it entered into a MOU on strategic cooperation with Gechuang Dongzhi (Shenzhen) Technology to expand data tokenization capabilities into industrial smart manufacturing.
Shanghai Biren Technology shares fall as much as 9.9% to the lowest since May 19 after the company raised HK$7.07 billion ($901 million) in gross proceeds by placing 153 million new H shares at HK$46.20 each.
In FX, the Bloomberg Dollar Spot Index is up 0.2% with the greenback firmer versus most G10 peers. Gains are most pronounced against the yen with USD/JPY venturing as high as 162.31 but still below last week’s multi-decade peak at 162.84. The yen lost ground against all major currencies as traders tested the resolve of Japanese authorities to intervene. Goldman Sachs joined the growing ranks of investors and strategists who are increasingly bearish on the yen, which is already trading around its lowest levels since 1986. The Wall Street bank revised its 12-month forecast to 165 from 155, reflecting fiscal pressures in Japan, higher-for-longer Treasury yields and only gradual rate hikes from the Bank of Japan, strategist Karen Reichgott Fishman noted.  

In rates, treasuries are seeing a modest bid with the 10-year yield down 2 basis points at 4.46%. Treasury futures hold small gains accumulated during Asia session and London morning, led by front-end and belly tenors as oil prices remain near three-month lows and stock futures advance. US intermediate yields are 3bp-4bp richer on the day, steepening 5s30s spread by 2.5bp; 10-year, around 2bp richer near 4.46%, outperforms bunds and gilts in the sector by 2bp and 2.5bp respectively. IG dollar issuance slate includes a few names already. Dealer forecasts for this month are around $100 billion, with around $25 billion lined up for this week. This week’s Treasury auctions start Tuesday with $58 billion 3-year new issue, followed by $39 billion 10-year and $22 billion 30-year reopenings Wednesday and Thursday. US session includes June ISM services gauge and scheduled remarks by Federal Reserve Governor Christopher Waller. 

In commodities, WTI oil is holding below $69 a barrel after seven OPEC+ members agreed on Sunday to increase their collective production quotas by a modest 188,000 barrels a day for next month, adding to the prospect of more supply eventually hitting the market if a US-Iran peace pact can stick. Shipping through a US-protected corridor in the Strait of Hormuz showed signs of recovery. Precious metals are on the back foot with spot gold and silver posting respective losses of 0.8% and 0.7%. Bitcoin slides back under $62000 on news Michael Saylor’s Strategy sold 3,588 in the past week.   

US economic data calendar includes June final S&P Global US services PMI (9:45am) and June ISM services (10am). Fed speaker slate includes Waller at 11am. Bloomberg Economics expects the ISM services index to have remained in expansionary territory, but to have softened after jumping to 54.5 in May. A modest decline in orders growth likely led to a deceleration in production activity.

Market Snapshot

Top Overnight News

Shipping along a US-protected corridor near Oman in the Strait of Hormuz recovered after some vessels earlier performed unexplained U-turns and detours. OPEC+ backed another modest rise in quotas for next month. BBG
Ukraine is striking Russian energy infrastructure at an unprecedented rate, according to an FT data analysis showing that Kyiv’s intensified drone campaign is spurring Russia’s worst fuel crisis in decades. FT
Ukraine’s capital Kyiv came under a deadly Russian attack early Monday morning, on the eve of a critical NATO summit in Turkey that US President Donald Trump plans to attend. CNN
World powers are pouring billions into AI, drones, hypersonic missiles and space technologies in a race to dominate the battlefields of the future. BBG
A year ago, the message from many business leaders was that AI was going to wipe out jobs. For the past month or so, tech CEOs have been striking a more optimistic tone. WSJ
South Korea is looking at creating an investment fund using excess tax revenue from its chip industry to finance long-term economic growth. BBG
Chinese tech giants including Alibaba, ByteDance and Tencent have all announced plans to disable AI persona features as Beijing tightens its regulatory framework on the rapidly advancing AI industry. Nikkei
The yen should be about 20% stronger at around 130 per dollar, former Japan currency chief Tatsuo Yamasaki said. BBG
Large investors are committing billions of dollars to private credit funds as big institutions seek to profit from an exodus of smaller retail clients. North American direct lending funds that seek to attract institutional clients raised at least $16bn in the second quarter. FT
Goldman Sachs sees USD/JPY at 165.00 in a year’s time, raising its forecast from 155.00, citing Japan’s interest rate differentials with the US
A more detailed look at global markets courtesy of Newsquawk

Asia-Pac stocks initially started the session with broad gains but reversed as the session continued, with a busy week ahead, which includes Samsung Electronics’ Q2 earnings and SK Hynix’s US listing. ASX 200 managed to limit its downside, and only posted modest losses, as upside in Energy and Health Care broadly offset the downside seen in Consumer Staples and Mining names. Further on the mining topic, Genesis Minerals made a AUD 5.6bln bid for Vault Minerals, hijacking a deal previously made with Regis Resources. Nikkei 225 was softer as it continued to pull back from its ATH of 72,832. Kioxia was one of the big underperformers, after the Co. began shipping sample next-gen semiconductor products. KOSPI was under significant pressure, despite initially printing gains of as much as 2.9%, with Samsung set to report Q2 figures on Tuesday; operating profit expected to print at KRW 86tln. However, a miss would be detrimental to tech valuations, since doubts have crept in over the scale and durability of AI demand and capex. Shanghai Comp. traded either side of the unchanged mark while the Hang Seng posted decent gains. Alibaba found some comfort after a US federal judge ordered the Pentagon to give the Co. a reprieve from a lobbying ban tied to the Pentagon’s curbs on Chinese companies.

Top Asian News

Apple (AAPL) supplier Luxshare (002475 CH) reportedly plans pricing its Hong Kong listing at the top end, Bloomberg reported.
SK Hynix (000660 KS) is to raise KRW 43tln in ADR listing.
Meituan’s (3690 HK) LongCat-2.0 has been officially open-sourced, and domestic chip manufacturers are collectively adapting to it, Chinese press reported.
Honda’s (7267 JT) China unit reported June vehicles sales of 32.5k units, -44.5% Y/Y.
European bourses (STOXX 600 -0.2%) have traded on either side of the unchanged mark throughout the morning, with a lack of pertinent catalysts driving the action. European sectors are mixed but with a positive bias. Leading the table is Media, helped by ITV (+1%), Travel and Leisure is helped by easyJet (+10%), while European tech underperforms after modest losses in APAC (ASML -1.5%, STMicroelectronics -1.5%). For easyJet, the co. agreed in principle to Castlelake’s fifth takeover bid, at GBP 6.90/shr in cash. Stateside, futures play catch-up after US stocks were closed on Friday for US Independence Day. NQ +1% outperforms after broad tech gains on Friday, ES +0.4%, and RTY +0.2% also green.

Top European News

UK Defence Minister Jarvis told POLITICO he wants Burnham’s administration to lay out the full pathway to spending 3.5% of GDP on defense at the next spending review, due spring 2027.
France is said to have softened its stance of possible sale of SAMP/T air defence system (HO FP) to Turkey, according to sources.
CVC’s (CVC NA) sale of marina group D-Marin is said to be valued at EUR 1-1.5bln, FT reported, citing sources
FX

Lack of macro catalysts with geopolitical news light as US-Iran negotiations pause for the former Supreme Leader’s funeral processions. The Buck today is seemingly attracting carry demand as we near summer trade, where ING notes G7 FX volatility is close to the lower end of long-term ranges. DXY currently trades near highs, within a 100.82 to 101.13 range.
JPY is the clear underperformer, as it attempts to return to recent lows against most peers. Specifically, USD/JPY +0.5% on the day as the Buck outperforms against low yielders and after unconvincing potential intervention over the past week. USD/JPY sees its first resistance at 162.50 to the upside; thereafter, the next significant level is the 1st July high of 162.84.
Antipodeans are mixed, Aussie outperforms as it attracts carry demand as mentioned above, while Kiwi is one of the G10 laggards as hawkish bets unwind ahead of the RBNZ policy announcement on Wednesday. Ahead of the meeting, the NZIER Shadow Board recommended that the RBNZ hold the OCR at 2.25%, against the market consensus of a 25bp hike to 2.50%. AUD/NZD +0.4% and approaches 1.2200.
South Korean Finance Minister said the BoK is to closely monitor the impact and movements of KRW’s 24-hour trade.
Fixed Income

Global fixed benchmarks are mildly firmer this morning, taking leads from lower energy prices. Price action has been fairly lacklustre this morning, with the European session ultimately seeing sideways action.
USTs (+4 ticks) are firmer this morning and hold within a 109-17 to 109-24 range; currently holding towards the upper end of the day’s range. US-specific newsflow has been lacking this morning, but will likely pick up in the form of US Final PMIs and then the more closely watched ISM Services thereafter. On that front, the headline is expected to pare to 54.0 (prev. 54.5), prices paid at 69.0 (prev. 71.3), and new orders at 57.0 (prev. 57.3).
Bunds (+8 ticks) and Gilts (+5 ticks) both trade with mild gains, but with action ultimately non-committal. Both benchmarks are off their best levels and trading towards the mid-point of their respective 126.59-126.82 and 88.81-89.12 ranges.
For Europe specifically, the EZ Sentix Investor Confidence topped expectations (-3.1 vs exp. -14.5), though not all too surprising given the recently signed US-Iran MoU. Sentix stated that “The slump in sentiment caused by the Iran conflict is slowly being overcome. The German government’s latest reform efforts are having an impact”. On the data front, EZ PPI Y/Y printed a touch above the expected, as did Retail Sales – no move was seen on the data.
BoJ announces its outright bond purchase operation in-line with its plan. Offers to buy JPY 100bln of
Commodities

WTI Aug and Brent Sep futures are ultimately on a softer footing following choppy APAC and European morning trade. Macro catalysts remain quiet, further compounded by a temporary lull in geopolitical headlines, driving a steady unwinding of the war premium that supported prices throughout H1 2026. WTI resides towards the lower end of a USD 67.82-69.21/bbl range, while Brent sits at the bottom end of a USD 71.02-72.45/bbl parameter.
Elsewhere, metals are mixed with precious metals softer after last week seeing its first weekly gain since May, supported by fading Fed rate hike expectations following the soft US jobs data, and lower energy prices. Meanwhile, overnight, it was reported that Hong Kong’s pension fund will be able to invest in more gold ETFs as part of the government’s push to make the city a gold trading hub, SCMP reports, citing sources. SCMP earlier reported that Hong Kong is to reportedly launch a gold clearing and settlement system.
Price action this morning saw the yellow metal find resistance around the USD 4,200/oz mark, currently residing in a USD 4,144-4,202/oz range, with US traders set to return from their long weekend, and with ISM Services PMI ahead.
In terms of base metals, copper futures are rising for a third consecutive session in a USD 13,361.53- 13,464.00/t range, whilst aluminium extends a rebound from a four-month low, supported by fading Fed rate hike bets after Fed Chair Warsh last week said price risks were easing.
Goldman Sachs lowered its LME aluminium price forecast to USD 2,950/t for Q4 2026 and lowered its 2027 average forecast to USD 2,700/t. Goldman Sachs cuts its 2026 aluminium supply deficit forecast to 100k tonnes and raises its 2027 supply surplus forecast to about 1.5mln.
Infrastructure has reportedly been damaged in the region of Russia’s Ust-Luga and Vysotsk oil ports after a drone attack.
UK ministers are reconsidering a ban on crop-based biofuels for aviation following a lobbying tour of the US Corn Belt by government officials, the FT reported.
A power outage has been reported at Marathon Petroleum’s (MPC) Detroit refinery, causing controlled gas burning, according to local media.
Hong Kong’s pension fund will be able to invest in more gold ETFs as part of the government’s push to the city into a gold trading hub, SCMP reported citing sources.
South Korean prosecutors say refiners colluded to hike prices despite ample oil reserves, Yonhap reported.
A fleet of 10 Japan-related ships have reportedly left the Strait of Hormuz, shipping data shows.
Israel’s energy minister said Israel is launching a new competitive process to search for more natural gas in the country’s economic waters.
Central Banks

New Zealand NZIER Shadow Board recommends that the RBNZ holds the OCR at 2.25%.
PBoC injected CNY 7bln via 7-day reverse repos with rate maintained at 1.40%.
PBoC set USD/CNY mid-point at 6.8066 vs exp. 6.7850 (prev. 6.8047).
Swiss Total Sight Deposits (w/e Jul 3) 479.2bln (prev. 474.4bln W/W), Domestic 440.9bln (prev. 440.6bln W/W).
Geopolitics: Ukraine

Ukraine’s military said it has struck its oil refineries in Russia’s Yaroslavl and Leningrad regions.
EU’s von der Leyen said EU is working to seal the 21st Russian sanctions package in the next days.
Infrastructure has reportedly been damaged in the region of Russia’s Ust-Luga and Vysotsk oil ports after a drone attack.
Russian Defense Ministry said 519 Ukrainian drones were shot down over the regions overnight.
A Ukrainian official said the death toll in Kyiv has risen to 9 after the recent Russian attacks.
US President Trump is to meet with Ukrainian President Zelensky at the NATO summit in Ankara, Turkey.
Kyiv Mayor said the city is under a Russian missile attack with one residence badly damaged.
A Russian official said the Ukrainian attack cuts the electricity to Sevastopol in Crimea, AFP reported.
Several Russian ballistic missiles have struck Kyiv, with explosions being heard, according to an FT reporter.
Geopolitics: Iran

Islamabad is the more likely option for the next round of US-Iran technical talks, with July 11th expected to be the date, sources tell Pakistani newspaper Dawn, according to Fox. Negotiations are expected to focus on Iran’s nuclear programme, frozen Iranian assets, the Strait of Hormuz and the Lebanon ceasefire.
Israeli Defence Minister Katz said any Iranian leader who tries again to promote plans to destroy Israel will be thwarted; Israel is prepared to defend itself again, with its own forces, at any time and against every threat.
Iranian Parliament Speaker Ghalibaf said a ceasefire in Gaza will be part of the second phase of the agreement with the US.
Iranian Parliamentary Speaker Ghalibaf said the US memorandum is ‘difficult but possible’ to enforce, Al Jazeera reported.
The Israeli occupation army carries out a bombing operation in the town of Houla in southern Lebanon.
Israeli Army Chief of Staff Zamir said that the Israeli army will continue its operations to eliminate threats from Lebanese soil.
Israeli airstrikes hit multiple towns in southern Lebanon.
US Event Calendar

9:45 am: United States Jun F S&P Global US Services PMI, est. 51.3, prior 51.3
9:45 am: United States Jun F S&P Global US Composite PMI, est. 52.2, prior 52.2
10:00 am: United States Jun ISM Services Index, est. 54, prior 54.5
11:00 am: United States Fed’s Waller, ECB’s Schnabel, Wunsch, Riksbank’s Seim in Rome
DB’s Jim Reid concludes the overnight wrap

I hope your weekend was good. Mine was certainly a big WOW! 8.5 months after back fusion surgery I won both the scratch and handicap 2-day over 50s club championship. I shot 72 and 71 (one over gross). It took Tiger Woods two years after the same fusion surgery to win The Masters so I’m seeing this as a greater achievement. My twins were very impressed with the two huge cups I brought home and have earmarked winning the same event. They qualify in 2068! I wonder if England will have won the football World Cup again by then. I did get up to watch the second half which has just finished as I type this. A crazy win against Mexico. To all the readers in Norway, see you on Saturday!

Moving on, the week after payrolls is usually a quieter affair but there’s plenty of global events even if the US calendar is light. In terms of the main highlights, given the current focus on monetary policy the FOMC minutes (Wednesday) and the ECB’s June meeting account (Thursday) will be carefully watched, especially the former given it was the first of the new Warsh regime. Speeches from Fed Governors Waller (Monday), Williams and Logan (Thursday) will provide a more “live” update to the committees’ thinking. Elsewhere, China inflation data (Thursday) and a run of German activity indicators including factory orders (today), industrial production (tomorrow) and trade (Thursday) are worth tracking. German reforms in recent weeks have offered some renewed optimism that we will finally see the benefits of the huge fiscal spending and reform agenda after scepticism had been building. Geopolitically, the NATO summit (Tuesday–Wednesday) will also be in focus, with Mr Trump in attendance, and could generate plenty of headlines.

In terms of other data and events, today sees ISM services (Monday) which follows the recent weakness in manufacturing, where our economists expect a modest improvement. Most of the other data in the US is second tier but includes existing home sales on Thursday. Outside of the US, the BoE’s financial stability report (tomorrow) will be interesting, while inflation prints from Sweden (Wednesday) and Denmark and Norway (Friday) deserve a glance. In Japan, the data flow includes labour cash earnings and household spending (tomorrow), the Economy Watchers survey (Wednesday) and PPI (Friday). Elsewhere, we will see the RBNZ policy decision (Wednesday), where our economists expect a rate hike, and Canada’s labour market report (Friday).

In Asia, it’s all eyes on the KOSPI at the moment after a pretty wild time of late. After being up 3% early in the session, it’s now -1.86% as I type with the Nikkei -1.18% lower. The Shanghai Comp is -0.35% with the ASX -0.22%. However, the Hang Seng is +1.16%. S&P (+0.23%) and Nasdaq (+0.76%) futures are up but are roughly around Friday’s levels when the US was on holiday.

Recapping last week now and markets saw a decent risk-on move, with the S&P 500 posting its best weekly performance since early May, with a +1.76% advance. That came amidst several dovish headlines, which meant investors priced out the chance of an imminent rate cut. For instance, Fed Chair Warsh said that inflation risks had come down at the Sintra Forum on Wednesday. And then on Thursday, the US jobs report showed payrolls up +57k, which was weaker than expected (even if unemployment was a tenth lower than expected). So collectively, that meant market pricing for a July hike fell from a 30% chance to 22% over the course of the week. And that dovish repricing was clear further out the curve, as the amount of hikes priced by the December meeting also came down slightly from 32bps to 30bps.   

Over in Europe there was a similar trend, with the STOXX 600 up +2.66% (+0.68% Friday) to a new record. That came as markets grew more doubtful about another ECB rate hike this year, with the latest flash CPI print also surprising on the downside. It showed headline inflation falling more than expected to +2.8% in June, and core CPI also falling to +2.4%. So markets also priced out the chance of another ECB rate hike by December, which fell from a 96% to an 83% chance over the week.  

But even though equities did quite well on the whole, there were still clear pockets of weakness, most notably in the chip sector. Indeed, the Philly semiconductor index fell -4.37%, losing ground for a second week running. Interestingly as well, the dovish repricing failed to prevent a move up in longer-dated yields, with the 10yr Treasury yield up +11.5bps last week to 4.48%, whilst the 10yr German yield rose +8.4bps to 2.93%.  

Finally, oil prices were comparatively steady last week, and Brent crude saw little movement with a +0.18% gain (+0.45% Friday), leaving it at $72.12/bbl. Otherwise, credit spreads tightened across the board, with US IG (-1bps) and HY (-15bps) spreads both coming down. It was a similar story in Europe too, where Euro IG (-1bps) and HY (-2bps) spreads also tightened.

Tyler Durden
Mon, 07/06/2026 – 08:28

Those little white robots that once rolled across college sidewalks with lattes, fries and late-night snacks are getting a new assignment. Starship Technologies recently announced that it will wind down its U.S. university campus operations and redeploy more than 1,200 robots toward grocery chains and hot food delivery in cities across the United States and Europe.If you have ever watched one of these robots patiently wait at a crosswalk like a polite cooler on wheels, you know why students got attached. They became part campus convenience, part mascot. Now, the company is moving from a controlled campus setting into a much tougher public test.CHINA’S ROBOT-RUN HOTEL OPENS TO PUBLIC IN 2027That raises the bigger question: will these cute campus robots be just as welcome when they start sharing crowded city sidewalks with you?Sign up for my FREE CyberGuy ReportStarship says the decision comes down to focus. The company says its grocery delivery operations are on a 10x growth trajectory over the next two years, driven by demand from major retailers in the United States and Europe.In Finland, Starship says its robots already complete roughly one in five grocery deliveries. That gives the company a real-world model it wants to repeat elsewhere. To support that expansion, more than 1,200 robots from U.S. campus fleets will be moved into grocery delivery. For Starship, that is a major pivot. Campuses helped the company build its brand in the U.S. They also gave the robots a place to learn.Starship made a big U.S. splash at George Mason University in 2019, when the school became the first U.S. university to offer autonomous robot deliveries from Starship. From there, the robots spread to dozens of campuses. That made sense. College students are often hungry at odd hours. Many live without a full kitchen. They also tend to be open to new tech, especially when it brings food to the dorm without small talk.During the pandemic, contactless delivery became even more appealing. A robot that could roll up with lunch while limiting person-to-person contact suddenly felt useful in a very different way.Starship says it has worked with its university campuses and industry partners to keep service running through the 2026–2027 back-to-school season, with transition plans in place to reduce disruption. So, this does not appear to be an instant shutdown where every campus robot disappears at once. Instead, the company is moving away from the university model while preparing its fleet for a bigger push into grocery and restaurant delivery.For students who loved the bots, it may still feel like the end of an era. For Starship, though, it is a move toward the market where the company believes the economics are stronger. Starship CEO and co-founder Ahti Heinla says the company’s robots can deliver groceries at a cost $3-$4 lower per delivery than traditional courier fulfillment. That is the kind of claim that gets the attention of retailers trying to make last-mile delivery less expensive.ZOOX ROBOTAXI REDESIGN BRINGS BIG RIDER UPGRADESThe next phase could get messy. Delivery robots have to share sidewalks with people who are walking, pushing strollers, using wheelchairs, carrying groceries or trying to catch a bus. That means every design choice matters. A robot that blocks a curb ramp can create a real problem. A robot that pauses in the wrong spot can turn from cute to irritating fast. If one reverses unexpectedly or gets stuck near a crosswalk, the novelty wears off even faster.There have already been warning signs. Reports have described delivery robots bumping into people, getting stuck in odd places and raising accessibility concerns. Chicago has also seen local pushback and safety concerns around sidewalk delivery robots, which shows Starship still has work to do if it wants city residents to embrace them. That is the challenge Starship now faces. The same robot that felt charming on a campus may feel like clutter on a narrow sidewalk.Grocery delivery is a different business from campus food delivery. A college order might be a sandwich, a soda or a late-night snack. A grocery run can involve heavier items, more frequent routes and customers who expect reliability every time. If Starship can make that work, the payoff could be huge. Grocery stores want cheaper local delivery. Customers want speed without sky-high fees. Cities want fewer cars clogging short delivery routes.Starship says the global food delivery market is now worth $650 billion and needs delivery systems with higher autonomy levels. The company also says it has completed more than 10 million deliveries, which gives it a sizable head start in the sidewalk robot category.However, the public will need convincing. People may welcome a robot bringing milk and eggs on a rainy night. They may also get annoyed if that same robot blocks a sidewalk during the morning rush. That will all decide whether sidewalk robots become normal or face more local limits.Starship was founded in Tallinn, Estonia, in 2014 by Ahti Heinla and Janus Friis. Estonia remains home to the company’s core engineering and AI development team. That is important because this shift is not only about where the robots operate.Starship’s move shows where the delivery robot business is headed. College campuses helped make the robots likable. Grocery delivery may determine whether they become profitable. Still, the sidewalks belong to the public. That means companies need more than clever machines. They need trust, clear rules and designs that respect people who move through cities in different ways.A delivery robot should never make a sidewalk harder to use for someone with a cane, stroller or wheelchair. It should not turn public space into an obstacle course. If companies want these robots to feel normal, they need to prove they can operate without making daily life more frustrating.ARE HUMANOID ROBOTS NOW COMING FOR RETAIL JOBS?You may start seeing more delivery robots near grocery stores, restaurants and apartment-heavy neighborhoods. If that happens, pay attention to how they behave in your area. Look for whether they yield to pedestrians, avoid curb ramps and handle crowded sidewalks well. Also, check whether your city has rules for personal delivery devices. Some places allow pilot programs, while others limit where these robots can operate.If a robot causes a problem, document it safely. Take a photo or video, note the location and report it to your city or the delivery company. That is important because local officials need real examples, not vague frustration, when they decide what rules should apply. There is also a privacy angle. These robots use sensors and cameras to navigate. Companies may say the data supports safe operation, but you still deserve clear answers about what gets collected, how long it is kept and whether law enforcement can request it.Your phone holds your email, passwords, photos, banking apps and personal data. In this free CyberGuy Live replay, Kurt the CyberGuy walks you step by step through simple phone security fixes you can do at your own pace. You’ll learn how to improve your privacy settings, spot the latest phone scams, use trusted security tools and walk away with a simple checklist to stay protected. Watch the replay and get our checklist here: CyberGuyLive.comStarship’s campus exit feels like the end of a quirky era, especially for students who got used to seeing the little robots rolling around campus. But this shift also tells us something bigger about where autonomous delivery is going. The next battle will happen on city sidewalks, not college campuses. If these robots save money and reduce short car trips, they could become very useful. But if they crowd walkways or create safety headaches, people will push back hard. To me, the real test is pretty clear. Robot delivery needs to work for everyone on the sidewalk, including people who never ordered anything.Would you be ok with a delivery robot on your block, or would you rather keep your sidewalks robot-free? Let us know by writing to us at CyberGuy.com.Sign up for my FREE CyberGuy ReportCopyright 2026 CyberGuy.com. All rights reserved.

Archaeologists recently unveiled rare written evidence of Christianity’s rise over a Roman mystery religion. They found an ancient inscription, written in the same language that was spoken by Jesus Christ.The engraving was found at an underground Mithras temple at Zerzevan Castle, a Turkish fortification roughly 40 miles north of the Syrian border. The inscription back 1,700 years and was written in Aramaic, which was widely spoken across the ancient Near East, including by Jesus Christ.ARCHAEOLOGISTS UNEARTH ANCIENT TREASURE CACHE AT BIBLICAL CITY CONNECTED TO GENESISThe temple was dedicated to Mithras, a deity worshiped by followers of a “mystery cult” associated with light and cosmic order.During the second and third centuries A.D., Mithraism was widespread throughout the Roman Empire — and the Zerzevan underground sanctuary is regarded as one of its best-preserved temples.The inscription is located at the entrance of the temple, along with a depiction of a cross. Its meaning had eluded researchers since it was discovered in 2017.The engraving is the first known Aramaic inscription documenting the closure of a Mithras temple, Mardin Artuklu University professor Mehmet Sait Toprak told Turkish state news outlet Anadolu Agency (AA), which first reported the discovery.TEST YOURSELF WITH OUR LATEST LIFESTYLE QUIZToprak analyzed the inscription’s language and letter forms to determine its meaning.Comparing it with Old Syriac and Aramaic inscriptions from the second and third centuries A.D., he concluded the inscription dates to the third or fourth century A.D.The inscription mentions both Mithras and Jesus Christ — symbolizing the shift from one faith to the other, according to Toprak.The professor told AA the engraving also contains references to the Holy Cross.CLICK HERE TO SIGN UP FOR OUR LIFESTYLE NEWSLETTER”This is an extremely important archaeological discovery,” Toprak told the outlet.Excavation director Aytaç Coşkun told AA that earlier coin discoveries had suggested the temple was abandoned in the third or fourth century, but the newly deciphered inscription provides new direct evidence that it was closed and symbolically sealed by Christians.He added that, once fourth-century Roman emperors embraced Christianity, Mithraism was seen as a rival religion.CLICK HERE FOR MORE LIFESTYLE STORIESThe latest discovery is one of many early Christian finds resurfacing in Asia Minor.Last summer, archaeologists excavating the ancient city of Olympus uncovered the remains of a fifth-century Christian church, bearing an inscription hidden for more than 1,000 years.The same year, archaeologists excavating Kaunos found the remains of a Roman hospital that was later transformed into a Christian sanctuary.

A surfacing whale struck a New Jersey fire department boat Friday, forcing firefighters to abandon the vessel as it returned from a July 4 marine security assignment in New York Harbor, officials said.The Carteret Fire Department said Marine Unit 2 was returning to Carteret waters around 4:30 p.m. Friday after assisting with a regional special operations marine security detail in the New York/New Jersey Port area when a whale breached beneath the vessel’s stern near the mouth of Raritan Bay.The department said the whale strike caused catastrophic damage to the boat, which immediately began taking on water, giving firefighters only seconds to abandon the vessel.PILOT DECLARES MAYDAY BEFORE SEAPLANE COMES DOWN IN NEW YORK CITY’S EAST RIVERAll firefighters aboard escaped without injury, according to the department.Officials said a nearby recreational jet ski operator and another boater immediately came to the firefighters’ aid before members of the Perth Amboy Fire Department’s marine unit arrived and helped rescue the crew from the water.A nearby recreational vessel reported seeing multiple whales breaching before and after the collision, the Carteret Fire Department said.THREE DEAD, 7 RESCUED IN BOATING TRAGEDY AS SEVERE HOLIDAY WEEKEND STORM RAVAGES WISCONSIN TOURIST HOT SPOTThe circumstances surrounding the incident remain under review, and officials said additional information will be released as it becomes available.Mayor Dan Reiman described the incident as a “harrowing experience” in a public statement, saying the surfacing whale struck the vessel beneath its stern and caused catastrophic damage.”While the Carteret Fire Department Marine Unit regularly trains to rescue civilians from the water and respond to marine emergencies, fires, and vehicle incidents, an event of this nature is something no one anticipates,” the fire department said. “Understandably, it has left those involved shaken, but we are incredibly thankful that everyone returned home safely to their families.”The department used the incident to remind boaters, jet ski operators and kayakers to wear properly fitted life jackets, noting that every firefighter aboard was wearing one when the boat was damaged.Officials have not identified the species of whale involved. It was not clear whether the animal was injured.

Trump Shares Image Of $100 Bill Featuring His Signature

President Donald Trump posted a photo of a $100 bill bearing his signature on Truth Social on July 3, presenting the first paper currency to be signed by a living president.

Trump didn’t add a comment to the post, but the Treasury Department chimed in.

“Under President Trump’s leadership, we are on a path toward unprecedented economic growth, lasting dollar dominance, and fiscal strength and stability,” Treasury Secretary Scott Bessent posted on X on July 4.

“There is no more powerful way to recognize the historic achievements of our great country and President Donald J. Trump than U.S dollar bills bearing his signature, and it is only appropriate that this historic currency be issued at the Semiquincentennial.”

Under President Trump’s leadership, we are on a path toward unprecedented economic growth, lasting dollar dominance, and fiscal strength and stability. There is no more powerful way to recognize the historic achievements of our great country and President Donald J. Trump than U.S… pic.twitter.com/4dvhML2f7h
— Treasury Secretary Scott Bessent (@SecScottBessent) July 4, 2026
As Tom Gantert reports for The Epoch Times, the Treasury announced in March that Trump’s signature would appear on future U.S. paper currency alongside that of the secretary of the Treasury in recognition of the nation’s 250th anniversary, marking the first time a sitting president’s signature has appeared on U.S. banknotes.

U.S. Treasurer Brandon Beach said in March the updated currency will commemorate both the nation’s 250th anniversary and Trump’s economic legacy.

“As the 250th anniversary of our great nation approaches, American currency will continue to stand as a symbol of prosperity, strength, and the unshakable spirit of the American people under President Trump’s leadership,” Beach said in March.

“The President’s mark on history as the architect of America’s Golden Age economic revival is undeniable. Printing his signature on the American currency is not only appropriate, but also well deserved.”

In April, Sens. Elizabeth Warren (D-Mass.) and Jeff Merkley (D-Ore.) questioned the Treasury Department’s decision to put Trump’s signature on U.S. paper currency, calling it a political gesture that does nothing to address the nation’s economic challenges.

In a letter to Bessent, the senators questioned the rationale for the change, asked whether Trump personally directed the decision and requested details about the cost to taxpayers.

They argued Treasury should instead focus on issues such as inflation, housing costs, and other financial pressures facing Americans.

Meanwhile, the Commission of Fine Arts approved designs for a 24-karat commemorative gold coin featuring Trump as part of its March meeting, according to commission materials.

An image of that proposed coin depicts Trump in a suit leaning forward over a table with both hands resting on its edge, his expression unsmiling.

The coin is not listed on the U.S. Mint’s product schedule release for 2026.

Tyler Durden
Mon, 07/06/2026 – 07:45

Mainstream media and media pundits accused President Donald Trump of ruining America 250 and July 4 celebrations over the last week, even prior to nationwide celebrations.A direct example came on Friday when The New York Times opinion writer Robin Givhan wrote her op-ed titled “Trump Ruined the Fourth of July for Me.””But this year, I can barely tolerate the sight of red, white and blue,” Givhan wrote. “When combined into a maximalist display of nationalist cheerleading, the colors make my heart ache. The flags on federal buildings are grand, but they hang alongside banners featuring President Trump’s scowling face.” BILL MAHER TELLS LIBERALS TO STOP ‘PARTISAN SULKING’ AND JOIN AMERICA 250 PARTYThe negative sentiment against Trump was also present in an article from The Atlantic on Wednesday. Staff writer Anne Applebaum described how Trump “inevitably” had “destroyed the nation’s 250th-anniversary celebrations” based on his partisan stance.”This year is different, because the White House is inhabited by people who don’t believe in the ‘abstractions’ that we usually celebrate on the Fourth of July,” Applebaum wrote. “And this affects the rest of us, whether we want it to or not. Congress’s celebration, planned for a decade, has been usurped by the president’s celebration, funded by private donors and featuring a political speech by himself. Other institutions in and around Washington postponed or reduced their 250th celebrations, so as not to get in the way of the president. Many people who might have participated will not attend, pay attention, or care.”Though less critical, The Washington Post reporters Natalie Allison and Cleve R. Wootson Jr. made similar comments in their piece on Saturday, claiming that Trump had made himself “central” to the America 250 celebration.HOLLYWOOD CELEBRITIES CRASH AMERICA’S 250TH BIRTHDAY WITH A GRIM HOLIDAY WARNING ABOUT TRUMP”As he has throughout the anniversary celebration, Trump cast himself as central to the story he wants the country to tell about itself: that America was diminished before him, revived by him and is now celebrating its founding through his restoration — a promised ‘Golden Age.’ At Mount Rushmore on Friday night, he told the crowd that he ‘saved, almost single-handedly,’ the Second Amendment and that he was going to ‘give our country its identity back,'” they wrote.Former NBC host Chuck Todd was more livid at Trump’s role in the America 250 celebrations during his show on Saturday. Todd went as far as to claim that Trump not only ruined July 4 celebrations but the image of America itself.”Trump’s doing all of us a favor by selfishly trying to steal this anniversary from us. We now see who he really is. So no, it’s not the celebration we deserve. It’s not the one we could have had. But we get a mirror, and the mirror is telling us something. The country is a lot bigger than Donald Trump. It is bigger than any president, and it’s obviously bigger than any political party. And there’s no one definition of patriotism,” Todd said.MS NOW GUEST ADMITS ‘GREAT TREPIDATION’ ABOUT CELEBRATING AMERICA’S 250TH, CLAIMS COUNTRY IS BEING DESTROYEDHe continued, “But it still needs leaders who understand that it still needs citizens who insist on it. And it still needs people willing to say that the national story belongs to all of us, not just whoever happens to hold power at any one moment. America at 250 may be a lost opportunity. Donald Trump has absolutely sullied the brand of America. But America 275 does not have to be.”Todd also said he felt angry and “betrayed as an American,” and that Trump “cheapened” the country.”This is why I’m so p—– off. Not because I love the country less, but because I love the idea of America enough to resent seeing it cheapened by this man. America deserved better at 250. Some day, I believe it will get better. But it’s in your hands,” Todd said.Fox News Digital reached out to the White House for comment.Trump celebrated America’s 250th birthday with a 28-minute speech at Mount Rushmore followed by a 23-minute fireworks display.”The American dream still lives, and the American flag still flies more proudly than ever before over the people who will not quit,” Trump said. “The nation that will not fail, the country that will not fall no matter how hard the enemy tries, we cannot be beaten.”

Russia targeted Kyiv with hundreds of drones and missile for the second night in under a week killing more than a dozen people and injuring at least 46.

“I Can Negotiate”: Castro’s Grandson Says He’s Ready To Discuss Cuba’s Future With President Trump

Raúl Guillermo Rodríguez Castro, former Cuban president Castro’s grandson and one of the more important shadow figures inside Cuba’s communist ruling circle, told USA Today in an exclusive interview that he is prepared to speak directly with President Trump, signaling publicly a potential back-channel opening as the Trump administration intensifies economic pressure on Havana.

“I’ve never been interested in politics. It’s never been a calling of mine,” Rodríguez Castro told the outlet over the course of several days in June in Havana. “But if at some point the revolution needs me to step up, I will do it.” He said that he would never abandon the principles of Cuba’s 1959 revolution or the nation’s sovereignty.

Rodríguez Castro is a lesser-known figure outside Havana’s communist circles. He holds no formal government position, rarely appears on state television and has never spoken to a US news outlet before.

But the Castro family name gives him unique status inside Havana’s opaque power structure and the ability to act as a back-channel liaison with access to the island’s communist elite.

Now, the younger Castro is signaling he is ready to negotiate Cuba’s future, saying he wants to deal directly with President Trump.

“I can negotiate with anyone designated by the U.S.,” Rodríguez Castro said. “If given the opportunity, claro que con Trump.” Of course, with Trump.

Why would Rodríguez Castro want to negotiate now and not earlier this year? Well, that’s because Trump’s gunboat diplomacy has unleashed an economic stranglehold on the communist-run island, and it continues to work, with pressure now crushing the already poorly managed economy and collapsing its tourism sector.

The island drew just 360,000 tourists in the first five months of 2026, down 58% from a year earlier, according to Cuban government data. The neighboring Dominican Republic attracted more than 10 times that number over the same period.

The Trump administration says the pressure campaign is aimed at forcing the communist government to open its political system after generations of economic misery under failed communism.

Havana can’t turn to help from the socialists in Venezuela because the Maduro regime was taken out by US Delta Force operators. The Chinese and Russians won’t dare send their militaries to the island en masse because of the US naval presence in the region.

For Havana, the regime’s external lifelines have been disappearing one by one over the last six months.

Recall that CIA Director John Ratcliffe was recently in Havana meeting with communist officials. Now, Rodríguez Castro speaking with a US media outlet is another promising signal, suggesting that back-channel talks are likely already underway as pressure builds on the island’s ruling elite.

Tyler Durden
Mon, 07/06/2026 – 07:20

1.  Accused Charlie Kirk assassin fights back as prosecutors’ sprawling case comes into focus 2. Belgium reportedly granted right to appeal FIFA’s decision on USA World Cup star3. NYC health officials sound the alarm as disease outbreak grows near Central ParkFOR CLICKS — Man accused of mowing down two girls in alleged double murder exposes twisted reason he kept streaming. Continue reading …SIGNS OF LIFE — Toddler’s morgue miracle after pool scare leads to possible felony charges. Continue reading …AIR SCARE — Fireworks mortar strikes Delta jet during holiday descent into major airport. Continue reading …LEGAL RECKONING — Ex-NFL Pro Bowler, ‘Real Housewives’ husband charged with domestic battery. Continue reading …NO JOKE — Rob Reiner cameo meant to needle Trump instead sets off online uproar. Continue reading …–CALLING IT QUITS — Major twist shakes up Michigan Senate race just weeks before primary. Continue reading …SPARKS FLY — Clinton rips Trump in America 250 speech, warns of ‘serious threats’ to democracy. Continue reading …MIND THE GAP — Gavin Newsom’s ‘fishing expedition’ claim has a serious timeline problem. Continue reading …AMERICAN DREAM LOST — Refugee from communism reveals ‘vicious cycle’ playing out in US socialist rise. Continue reading …Click here for more cartoons… HOME PRIDE — New survey reveals America’s most and least patriotic states. Continue reading …FREE SPEECH PAYOUT — Teacher receives almost $300k settlement over Charlie Kirk assassination post. Continue reading …CITY HALL PASS — Mamdani told New Yorkers to cut AC while his wife flew off to Mallorca. Continue reading …MALL RENOVATION — Burgum unloads on Dana Bash, says Trump ‘finally’ fixed the iconic pool. Continue reading …STEVE MOORE — Politicians are blaming the wrong villain for America’s rising food prices. Continue reading … STEVE FORBES — Working families would foot the bill if the senator’s grocer act passes. Continue reading …–‘UNJUSTIFIABLE’ — UEFA says FIFA ‘crossed a red line’ with unprecedented move to let Balogun play. Continue reading …STEERING CLEAR — King Charles hopes to reunite with Prince Harry, but Queen Camilla is drawing one firm line. Continue reading …PERSONAL MILESTONE — Country star’s dramatic transformation has him eyeing a bold new target weight. Continue reading …AMERICAN CULTURE QUIZ — Test yourself on Founding Fathers and vaccine victories. Take the quiz here …Tune in to hear why more young adults are living with their parents and what today’s housing market could mean for the future of homeownership. Check it out …What’s it looking like in your neighborhood? Continue reading… FacebookInstagramYouTubeTwitterLinkedIn   Fox News FirstFox News OpinionFox News LifestyleFox News Entertainment (FOX411)Fox BusinessFox WeatherFox SportsTubiFox News GoThank you for making us your first choice in the morning! We’ll see you in your inbox first thing Tuesday.

Team USA is hours away from its biggest home-soil match in a generation. ESPN has somehow decided it’s the villain.Instead of building excitement for Monday night’s World Cup Round of 16 showdown against Belgium in Seattle, ESPN senior writer Mark Ogden spent the eve of the match explaining why Team USA shouldn’t feel too good about getting Folarin Balogun back.His headline says it all: “Nobody benefits from FIFA letting Balogun off the hook — not even the USMNT.”FIFA MAKES FINAL RULING ON US SOCCER STAR FOLARIN BALOGUN’S CONTROVERSIAL RED CARD SUSPENSIONRather than seeing a controversial decision corrected, Ogden argues the reversal hurts the tournament, hurts FIFA and, somehow, even hurts Team USA.A VAR review turned what many viewed as an accidental step on an opponent’s ankle into a straight red card for Balogun during Team USA’s 2-0 win over Bosnia and Herzegovina.The decision was immediately criticized as excessive, with Mauricio Pochettino among those arguing it never warranted a straight red.FIFA’s disciplinary committee ultimately suspended the automatic one-match ban under Article 27, clearing Balogun to play Monday.President Donald Trump spoke with FIFA President Gianni Infantino, arguing the punishment was unjust before FIFA reversed course, a source told Fox News.Trump, Commerce Secretary Howard Lutnik and White House task force leader Andrew Giuliani put together a team of lawyers outside the White House to challenge the use of slow-motion replay to give Balogun the red card, according to OutKick founder and Fox News contributor Clay Travis.That should have settled the matter.Instead, Ogden argued that correcting the decision is what hurts the integrity of the World Cup.He writes:”If the U.S. defeats Belgium on Monday, the global soccer community will not view it as a hard-fought, tactical triumph… Instead, it will forever carry an asterisk, tainted by the perception that the host nation used corrupt, backroom political maneuvers to alter the tournament’s rules.”That’s quite the way to preview the biggest American soccer match in decades.Rather than seeing an overly harsh punishment reversed, Ogden is warning fans that any victory should come with an apology attached.He doubles down from there, arguing FIFA has “damaged the credibility of its own tournament,” warning the decision creates “a dangerous precedent,” and concluding that “nobody benefits” from Balogun being allowed to play, not Belgium, not FIFA and “not even the USMNT.”CLICK HERE FOR MORE SPORTS COVERAGE ON FOXNEWS.COMRather than celebrating the overturning of a controversial suspension, Ogden is telling Team USA fans they should feel bad if their team wins.The column also argueed FIFA would never have made the same decision for a smaller nation, treating American influence as a moral failing instead of acknowledging a reality that has existed for decades: host nations enjoy advantages. Home crowds matter. Host nations have advantages. That’s international sports.If FIFA ultimately concluded an obviously controversial call deserved another look, that’s an indictment of the original officiating, not the United States.So Monday night, Team USA will field its best eleven players, exactly as it should.ESPN can keep clutching its pearls.USA by a million.Send us your thoughts: alejandro.avila@outkick.com / Follow along on X: @alejandroaveela