Market

I am going to be on Wolf_Financial spaces Thursday at 2pm to talk about our new 2x Bitcoin ETFs.

https://x.com/WOLF_Financial/status/1809986104394764594

A bit of more of the same yesterday. Semiconductors rallied, software did settle down, and the NASDAQ was up. Second straight day my short watchlist has more names than my long. My long watchlist has also completely flipped to financials and a couple of other value names. Maybe we finally start to see the broadening out, or maybe my models are just wrong.

Powell testifies today and we assume he got an early look at Wednesday’s CPI. Markets are green at the moment but that could change pretty quickly if he says anything to imply CPI will be hot or that the Fed won’t cut in September.

TSLA continues to be parabolic.

I wouldn’t chase this.

NVDA looks to be consolidating gains and should be buyable over the 10 day.

ESG

Asset Managers Are Snubbing UK’s ESG Labels, Morningstar Says-Bloomberg

“There was initially a lot of enthusiasm about sustainability labels in the UK,” in part because the regime was seen as a more successful version of the European Union’s Sustainable Finance Disclosure Regulation, Hortense Bioy, head of sustainable investing research at Morningstar, said in a statement. “But that enthusiasm has waned in the past six months.”

Republican challenge to ESG investing rule could showcase risk to US agency powers-Reuters

The New Orleans-based 5th U.S. Circuit Court of Appeals will hear arguments on Tuesday in a lawsuit by 25 Republican-led states challenging the U.S. Department of Labor rule, which says 401(k) and other plans can consider environmental, social and corporate governance (ESG) factors as a "tiebreaker" in making investment decisions.

DEI

Of Course Kamala Harris Would Be Our First DEI President-Daily Caller

Biden

How Biden’s Inner Circle Worked to Keep Signs of Aging Under Wraps Aides kept a tight rein on the president’s travel plans, news conferences, public appearances and meetings with donors while Biden’s stumbles became increasingly obvious-WSJ

Election

Hmmm, wonder why? Biden Formally Opposes Bill Requiring Voters Prove Citizenship-Daily Wire

@newrepublic

We chose the cover image, based on a well-known 1932 Hitler campaign poster, for a precise reason: that anyone transported back to 1932 Germany could very, very easily have explained away Herr Hitler’s excesses and been persuaded that his critics were going overboard. After all, he spent 1932 campaigning, negotiating, doing interviews—being a mostly normal politician. But he and his people vowed all along that they would use the tools of democracy to destroy it, and it was only after he was given power that Germany saw his movement’s full face. Today, we at The New Republic think we can spend this election year in one of two ways. We can spend it debating whether Trump meets the nine or 17 points that define fascism. Or we can spend it saying, “He’s damn close enough, and we’d better fight.” We unreservedly choose the latter course. And so we have assembled herein some of our leading intellectual historians of fascism; a member of the fourth estate who learned firsthand what the Trump lash feels like; a leading expert on civil-military relations; a great Guatemalan American novelist with a deep understanding of immigrants’ lives; one of our most incisive cultural critics; and a man with all-too-real experience in living under a notorious authoritarian regime. The scenarios they describe are certainly grim. We dare you to say, after reading these pieces, that they are impossible.

International

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