Morning Reads

Glimmer of hope: Iran needs guarantees as Trump signals end of war. The UAE wants Strait of Hormuz opened by force.

Diverting resources: Oracle (ORCL) starts laying off employees to drive down costs to support its AI infrastructure buildout.

Project Apex: SpaceX (SPACE) has lined up at least 21 banks, including Morgan Stanley (MS), for its upcoming mega IPO.

Artemis II

NASA is set to launch the first crewed mission toward the moon in over half a century on Wednesday, as the U.S. seeks to reassert its dominance in space. The mission — dubbed Artemis II — will send four astronauts on an approximately 10-day journey closer to the moon than any human has been since the Apollo 17 mission in 1972.

The launch: Artemis II is set to launch from Kennedy Space Center aboard NASA's Space Launch System rocket. "The rocket is healthy, the spacecraft is ready, the crew is in position, and the weather is looking good," NASA Administrator Jared Isaacman posted on X, saying Artemis II is on schedule to launch today evening. NASA astronauts Reid Wiseman, Victor Glover and Christina Koch, along with Canadian astronaut Jeremy Hansen were selected for the mission. The astronauts won't land on the lunar surface, but will instead venture around the moon and back. They will be the first people that NASA's Space Launch System rocket and Orion spacecraft carry into space.

The mission: Orion, built by NASA and Lockheed Martin (LMT), is currently the only spacecraft capable of crewed deep space flight and high-speed return to Earth from the vicinity of the moon. The mission's aim is to test Orion's life-support systems, propulsion, navigation and communications to confirm readiness for deep space travel. "Artemis II science operations will lay the foundation for safe and efficient human exploration of the Moon and Mars," NASA said. The crew will return to Earth after the flyby, and will evaluate Orion's heat shield when re-entering the atmosphere at speeds near 25,000 miles per hour. Take a look at the mission's major industry partners.

What's next: NASA is targeting to launch the Artemis III mission in 2027, which will test rendezvous and docking capabilities between Orion and one or both commercial landers from SpaceX (SPACE) and Blue Origin (BORGN). Artemis IV, scheduled for early 2028, will send astronauts to the moon's surface to explore its South Pole region. These missions lay the groundwork for a permanent U.S. base on the moon by 2030. "NASA is committed to achieving the near‑impossible, to return to the Moon before the end of President Trump's term, build a Moon base, establish an enduring presence, and do the other things needed to ensure American leadership in space," Isaacman said last month.

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What else is happening...

Microsoft in talks with Chevron (CVX) over Texas power supply.

OpenAI (OPENAI) is valued at $852B after latest funding round.

Nike (NKE) shows early turnaround wins, but outlook disappoints.

Foreign central banks' Treasury holdings at NY Fed at ~14-year low.

Banking system is something to be concerned about - Warren Buffett.

Fed Gov. Barr does not think government should back stablecoins.

Pfizer (PFE) to close research site, office in South San Francisco.

Is Trump's MFN policy to blame for delayed drug launches in Europe?

Tax Foundation: Liberation Day taxes did not improve U.S. economy.

KitKat heist turns into a promotional goldmine for Nestlé (NSRGY).

Today's Markets

In Asia, Japan +5.2%. Hong Kong +2%. China +1.5%. India +1.7%.
In Europe, at midday, London +1.7%. Paris +1.6%. Frankfurt +2.2%.
Futures at 6:30, Dow +0.5%. S&P +0.5%. Nasdaq +0.7%. Crude -1.4% to $99.98. Gold +1.6% to $4,752.50. Bitcoin +3.2% to $68,404.
Ten-year Treasury Yield -2 bps to 4.29%.

On The Calendar

Companies reporting today include Tilray Brands (TLRY) and Conagra Brands (CAG).


Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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