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IEA sees ‘major’ oil supply surplus emerging by 2030 (1 min read)

By 2030, the world could see a significant oil surplus as production rises while clean energy reduces demand, according to the International Energy Agency (IEA). Demand is expected to plateau at 106 million barrels per day, while supply could reach 114 million, creating a surplus of eight million barrels per day. This shift is driven by the rise of electric cars and improved fuel efficiency, despite ongoing demand from Asia and the aviation sector.

US wholesale prices unexpectedly fell 0.2% in May (1 min read)

US wholesale prices unexpectedly dropped in May, with the producer price index (PPI) falling 0.2%, another sign of a pullback in inflation. This decline contrasts with the 0.5% rise in April and exceeds expectations for a slight increase, echoing the flat CPI data from the previous day that inflationary pressures may be easing. The major US stock indices rose while treasury yields fell following the report, as more data pointed to cooling US consumer prices.

Tesla shareholders approve CEO Musk's $56 billion pay, company's move to Texas (4 min read)

Tesla shareholders approved Elon Musk's massive $56 billion pay package, a move seen as a strong endorsement of his leadership despite some investor concerns. The package, which aims to keep Musk focused on Tesla, has sparked debate and legal challenges, with some viewing it as excessive. Shareholder approval would signal confidence in Musk's vision for Tesla's future amidst changing market dynamics and his multiple business commitments.

Adobe shares soar 15% on better-than-expected results (1 min read)

Adobe shares soared 15% after hours as the company reported quarterly financials that surpassed expectations, showcasing a 10% yearly revenue growth. The company also raised its full-year forecast, predicting higher earnings and revenue than analysts anticipated. This strong performance comes amid a challenging market where peers like SentinelOne and UiPath have cut their revenue guidance. Before the report, Adobe shares were down 23% so far this year.

Energy? Defense? Trump vs. Biden Sharpens ETF Options (3 min read)

Sector ETFs can help investors boost their portfolios while reducing risks, especially during US elections when sector performance varies significantly. Research shows that sector effects are more pronounced during presidential elections. For instance, Biden's clean energy policies might boost renewable energy stocks, while Trump's pro-traditional energy stance could favor the energy sector and small caps. ETF options for some of these sectors are included in the article.

Gensler Sees Ethereum Spot ETF Approval This Summer (2 min read)

Spot Ethereum ETFs might get the green light from the SEC this summer, according to Chairman Gary Gensler. This potential approval follows the recent rule change that allows these ETFs to trade on major exchanges like Nasdaq and NYSE. As the US Presidential campaign heats up, some see this move from the SEC as politically charged, with Democrats aiming to court crypto enthusiasts.

Portfolio manager shares how he's playing tech and AI outside of Nvidia (Video)

This 2-minute quick interview is with a discretionary manager where he shares his stock picks in tech and AI besides Nvidia. One of his picks, Crowdstrike, was interesting as cybersecurity is another area that should see strong growth alongside AI in the future.

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Thomas

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