PCE came in at 0.4% monthly against a 0.5% estimate. Core held at 3.3% annually. The softer monthly read gave the market the breathing room it needed after two weeks of yield anxiety.

Then Axios dropped the bigger catalyst. US and Iranian negotiators agreed on a 60-day MOU to extend the ceasefire and begin nuclear talks, pending Trump's final approval. Oil fell. Stocks hit session highs. The S&P and Nasdaq both touched fresh all-time records.

Iran's Revolutionary Guard struck a US airbase earlier today. The market priced the MOU anyway. That tells you how badly it wants this war over.

Softer PCE gives Warsh a cleaner path into June 16. But the annual rate is still 3.8% and the MOU needs Trump's signature. Neither is confirmed. Size for optionality, not certainty.

The reported SpaceX filing got Wall Street’s attention. But some investors believe the real catalyst is still ahead — and it centers around one date: June 1.

That’s why this may not be the email to “come back to later.”

When major market windows begin to close, most people don’t realize it until the crowd rushes in and the setup changes completely.

If June 1 unfolds the way some expect, today’s opportunity could look very different just days from now.

See Why June 1 Could Change the Entire SpaceX Story

Snowflake (SNOW) beat every metric, raised full-year guidance, and announced a $6 billion deal to spend on Amazon Web Services over five years. The stock jumped nearly 40%.

Here is what makes it interesting. Snowflake does not build chips. It does not train models. It controls the data those models need to function. Every enterprise AI deployment runs on structured data that needs to be clean and accessible. AI is making that layer more valuable, not less.

The $6 billion AWS commitment is a buyer locking in infrastructure at scale for years. After Zscaler's brutal session Wednesday, the market genuinely did not know whether AI was building new software demand or destroying old ones. Snowflake answered that question with a number and a five-year contract.

The AI data layer is the least glamorous and most durable part of the AI trade. Own it before it gets the same premium the chip names already carry.

The Conference Board's CEO Confidence Index dropped from 59 to 47 in Q2. CEOs said the economy is materially worse than six months ago and expect further deterioration. The gap between their outlook and equity market performance is one of the widest on record.

One of two things is true. Either the market is right and CEO pessimism is a lagging signal that resolves when the Strait reopens. Or CEOs are seeing something in their order books that stock prices have not caught up to yet. 

The last time this gap was this wide, the market was the one that moved to close it. Worth remembering.

CEO capital spending plans are still rising even as confidence falls. Companies are spending on AI infrastructure while bracing for weaker consumer demand. Own the capex beneficiaries. Reduce the consumer-facing names CEOs are actively worried about.

Early Amazon investors saw extraordinary gains after its IPO. But if you missed that moment, a far larger opportunity may be forming.

According to Capital.com, Elon Musk’s Starlink could be preparing to go public — and Fortune says it may become the biggest IPO in history.

With an estimated $100+ billion valuation, Starlink’s potential IPO would be 287x larger than Amazon’s, and significantly bigger than Apple, Microsoft, and Nvidia’s debuts.

That level of scale could create a rare early-stage window — before Wall Street fully steps in.

Now, James Altucher is revealing how individual investors may be able to gain pre-IPO exposure to Starlink with as little as $100.

See how to position yourself ahead of the IPO.

Dollar Tree (DLTR) surged 18%. Best Buy (BBY) jumped on earnings and revenue beats with gaming and computing leading. Kohl's (KSS) surged nearly 19% on its best comparable sales performance in four years.

None of these were supposed to have good quarters. Dollar Tree has been struggling with traffic. Best Buy has been navigating appliance weakness. Kohl's has been in a multiyear sales decline. All three beat and the market reacted like it had forgotten good news was possible.

The consumer is not broken. It is becoming easier to map. Value and discount retail holds on trade-down. Electronics holds on replacement cycles. Department stores hold when expectations are low enough that decent looks like a triumph.

Position around the specific consumer pockets, not the headline. Value, electronics, and accessible discretionary are outperforming. Big-ticket deferrable purchases are not. The bifurcation is getting clearer every earnings week.

Drone stocks surged after reports that the Trump administration is planning to invest in the sector. Oppenheimer doubled its 2027 drone market estimate to $140 billion citing machine-to-machine warfare and physical AI growth. The Defiance Drone ETF (JEDI) jumped over 12%.

St. Louis Fed President Musalem directly challenged Warsh's AI disinflation thesis, saying it would be risky to rely on future productivity to solve today's inflation problem. Warsh has been in the job one week. His own committee is already pushing back publicly. Off to a smooth start.

The Union Pacific (UNP) and Norfolk Southern (NSC) merger got paused by a federal regulator. Both stocks fell. Berkshire, which opposes the deal and owns a competing railroad, barely moved. Convenient timing.

Individual investors have been unusually bearish for 16 straight weeks with bearishness at 41.9% against a historical average of 31%. The S&P is near all-time highs. Either retail is the most reliable contrarian signal of the year or they are seeing something the index is not.

I know because I've seen the evidence firsthand.

On March 2nd — three days after the first missiles hit — I sat across from two U.S. Congressmen in back-to-back private meetings.

Those meetings pointed me toward something I spent weeks verifying.

The real purpose behind the strikes. The real objective. And the single company at the dead center of all of it.

This isn't random. It's a calculated Two-Front Economic War.

And there's one company positioned right at the heart of it.

See the strategy behind the Iran war — and the company at the center of it

The sooner you understand what's really happening — the better positioned you'll be before August 12th.

— Dylan Jovine, Founder, Behind the Markets

PCE softened. The MOU moved markets. Snowflake proved AI builds new demand. CEO confidence collapsed while stocks hit records. Dollar Tree, Best Buy, and Kohl's all beat in the same session.

The deal still needs Trump's signature. The ceasefire has been violated multiple times today. 

Nine weeks of pricing a deal that keeps almost closing. Tonight it either gets signed or the market goes back to waiting. One way or another, this particular form of uncertainty is running out of runway.