My morning train WFH reads:
• A “Fairly Highly Valued” Market”: The Fed Chair Opines on Stocks, but should we listen? (Musings on Markets)
• A New Wall Street Trade Is Powering Gold and Hitting Currencies: Investors are pouring money into dollar alternatives like bitcoin and precious metals. (Wall Street Journal) see also Why Corporate Bonds Are on a Tear: The yield premium offered by investment-grade bonds has shrunk to an almost three-decade low. (Wall Street Journal)
• How Costco, Sam’s Club, and BJ’s Won Over America: Walmart is leveraging its scale and technology to make Sam’s Club even more appealing to its loyal shoppers. Why all three warehouse-club chains stand to win. (Barron’s)
• Impact of Trump tariffs is beginning to show in US consumer prices: Trade levies are starting to drive up costs for goods from cans of soup to car parts. (Financial Times)
• Global renewable energy generation surpasses coal for first time: Record solar expansion and steady wind growth driving world’s shift away from fossil fuels in 2025, report finds. (Guardian)
• “You have 18 months” The real deadline isn’t when AI outsmarts us — it’s when we stop using our own minds. (The Argument)
• We Finally Have Free Anti-Robocall Tools That Work: A new feature for iPhones screens calls, similar to a technology available for Android users. Here’s how to activate it. (New York Times)
• Six surgeons general: It’s our duty to warn the nation about RFK Jr. We took an oath to declare dangers when we found them. We’re doing that again today. (Washington Post)
• Russia Cleanses Its Spy Agencies: Something odd and largely unnoticed is happening to Russia’s spies. (Wall Street Journal)
• NASA’s Voyager 1 Revealed A Stunning Discovery At The Edge Of Our Solar System: Voyager 1, launched in 1977, has traveled farther than any spacecraft in human history. After more than four decades of silent endurance through space, it now sails beyond the orbit of the outer planets of the solar system. Its mission has transcended planetary flybys; it’s now humanity’s first direct way to explore interstellar space. NASA has used radio to talk to Voyager 1 as it stumbled upon something astonishing hiding at the farthest reaches of our solar system: a mysterious “wall of fire.” (BGR)
Be sure to check out our Masters in Business this weekend with Jurrien Timmer, Director of Global Macro at Fidelity Investments, which manages $16 trillion in for 20 million clients. Timmer, a Chartered Market Technician (CMT), is part of Fidelity’s Global Asset Allocation (GAA) group, anf specializes in asset allocation and global macro strategy.
Top 10 S&P 500 companies by market capitalization
Source: J.P. Morgan
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