The AI infrastructure surge has pushed 42 stocks in Morningstar’s US Large‑Mid Index past the 100% YTD mark, with SanDisk soaring over 4,000% and Bloom Energy up more than 1,000%. Analysts warn most lack lasting competitive edges, so a pullback in AI spending could spark steep losses.
Leveraged single‑stock ETFs tied to SpaceX moved over $1 billion in trading volume on debut, dwarfing typical ETF launches and underscoring feverish demand for the IPO‑wrapped stock. The surge shows active investors betting on the space‑centric name, but also raises caution about speculative leverage.
The dollar stayed firm after the first US‑Iran peace talks, lifting risk‑off sentiment, while the yen lingered just below its 40‑year trough around 161.7 per dollar. The move reflects heightened bets on a hawkish Fed and a potential easing of Middle‑East tensions that could buoy growth‑linked carry trades.
Beijing placed MP Materials and USA Rare Earth, plus eight other U.S. firms linked to the Pentagon, on its export control list. The move retaliates against Washington's recent bans on Chinese tech firms and threatens to tighten an already fragile U.S. rare‑earth supply chain, raising costs for defense and clean‑energy projects.
Lululemon's second‑quarter sales rose slightly, but net income fell about 37% as the removal of the U.S. de‑minimis exemption added a $240 million hit to gross profit, shaving 1.1 percentage points off margin. The policy shift forced the company to slash its full‑year earnings outlook and lean on pricing and supply‑chain tweaks to protect profitability.
Accenture's shares tumbled 18% on June 18, the steepest single‑day drop in its history, after the firm cut full‑year revenue growth to 3‑4% and warned AI could curb consulting demand. The dip pushes the stock near its 2017 low, underscoring market anxiety over AI’s impact on services firms.
The bipartisan bill would cut red tape, unlock new supply, cap private‑equity home purchases and sunset disaster‑recovery funding, aiming to lower costs for families and boost affordability. If enacted, it could reshape the housing market, pressure lenders and investors, and add a new fiscal lever for the economy.
A new NBER working paper finds that Amazon’s monthly new titles tripled from 2022 to late 2025, with AI‑generated books surpassing 60% of releases in 2025. While the flood expands choice, AI titles earn far fewer ratings, lower sales ranks and poorer star scores, dragging average book quality down.
Chair Kevin Warsh announced five cross‑department task forces to reexamine everything from communications and data gathering to the Fed’s $6.7 trillion balance sheet. By starting from first principles, the reviews could reshape inflation targeting, balance‑sheet management and the central bank’s overall mandate, signalling the deepest internal reform since the 1980s.
The New York Fed’s Q3 2025 report shows total household debt climbing to $18.585 trillion, up 3.6% YoY and $197 billion from the prior quarter. Delinquency rates nudged higher to 4.49%, hinting that consumers’ ability to service debt may be waning and could dampen economic momentum.
AI workloads are driving a surge in data‑center electricity use that now rivals powering 20‑25 million US homes. The rapid demand rise turns power from a background cost into a frontline constraint for tech and growth stocks, forcing companies to secure dedicated supply or risk throttling AI projects.
You’re caught up.
That was all 11 stories in the 22 June issue.