06:11 META Morgan Stanley: Views Meta's potential neocloud as far easier to execute than a full hyperscaler API/model service, requiring less new hiring and tech buildout since it leverages spare internal capacity.06:02 USO WTI's prompt spread flips to contango for first time since Nov 2025 [**Note: means the nearest futures contract is now cheaper than the next-month contract, a signal that immediate crude tightness is easing and storage economics are improving]05:13 SMH JPMorgan strategists: Extreme outperformance of US semiconductor stocks relative to AI hyperscalers is creating an unsustainable gap04:36 *(US) BOFA INSTITUTE: WEEK-TO-JUNE 27TH TOTAL CARD SPENDING +7.0% V +6.8% PRIOR WEEK; Many other categories slowed sharply, perhaps due to a shift in the post-Juneteenth weekend (6/20-21, '26 vs 6/21-22, '25).04:56 *(FR) FRANCE DEBT AGENCY (AFT) SELLS TOTAL €14.0B VS. €12.5-14.0B INDICATED RANGE IN 2036, 2041 AND 2046 BONDS05:00 *(EU) EURO ZONE MAY UNEMPLOYMENT RATE: 6.2% V 6.3%E
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06:11META Morgan Stanley: Views Meta's potential neocloud as far easier to execute than a full hyperscaler API/model service, requiring less new hiring and tech buildout since it leverages spare internal capacity.
06:02USO WTI's prompt spread flips to contango for first time since Nov 2025 [**Note: means the nearest futures contract is now cheaper than the next-month contract, a signal that immediate crude tightness is easing and storage economics are improving]
05:13SMH JPMorgan strategists: Extreme outperformance of US semiconductor stocks relative to AI hyperscalers is creating an unsustainable gap
04:36*(US) BOFA INSTITUTE: WEEK-TO-JUNE 27TH TOTAL CARD SPENDING +7.0% V +6.8% PRIOR WEEK; Many other categories slowed sharply, perhaps due to a shift in the post-Juneteenth weekend (6/20-21, '26 vs 6/21-22, '25).
04:56*(FR) FRANCE DEBT AGENCY (AFT) SELLS TOTAL €14.0B VS. €12.5-14.0B INDICATED RANGE IN 2036, 2041 AND 2046 BONDS
05:00*(EU) EURO ZONE MAY UNEMPLOYMENT RATE: 6.2% V 6.3%E

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12:24 (US) Market Trading Hours Summary: As expected, Dec PCE runs hotter than CPI, Q4 GDP impacted by shutdown; Supreme Court strikes down IEEPA tariff powers
S&P 5007536.25 0.71%EUR/USD1.16 2.11%USD/JPY159.03 2.08%GBP/USD1.34 1.1%OIL--Gold4077.6 15.42%