Quick Fed preview/Gushing over AI/'consumers shopping episodically'/Other stuff

PETER BOOCKVAR

The FOMC statement has typically been similar to the prior one and today will likely be no different. Powell has tended to sound more dovish at the presser, only for it to be pulled back in the days after by others. He's previously expressed, as we know, the need for more 'confidence' on the further, 'sustainable' deceleration in inflation while keeping a close eye on the slow creep up in the unemployment rate and I don't think he feels he's yet found that confidence and thus won't commit to the timing of an eventual first rate cut, even though he's looking for any reason I believe. I also don't think he's tempted by the tweak lower of interest rates by some of his peers. And as for now, it seems to be more of a tweak rather than the beginning of a string of consistent rate cuts. As for the dots, which we know the market algos will kick in the second they are released, I don't expect them to deviate much from what the market is currently pricing in. And that is, 100% chance of one cut this year and 38% chance of a 2nd. As for what the dots will say about 2025, their crystal ball is no different than yours.

[snip]

While Oracle missed both top and bottom line numbers for their Q4, they were just gushing on their conference call on the AI opportunity and gave all the buzz words Wall Street loves right now. "As you know, Oracle's Q4 is known for customers purchasing large software license contracts to power their businesses. But because of the pivot to the cloud, this Q4 was powered by the enormous demand for our cloud services and they showed up in RPO or Remaining Performance Obligations."

"In Q4, Oracle signed the largest sales contract in our history led by huge demand for training large language models."

https://peterboockvar.substack.com/p/quick-fed-previewgushing-over-aiconsumers

>>21010728

But not much about the Ed Bd….

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Well, it saves time from sending surrogates and such….

Microsoft, BlackRock CEOs expected to attend G7 session in Italy

Jun 12th, 10:53:16

BARI, Italy (Reuters) - The heads of U.S. corporate heavyweights Microsoft and BlackRock are expected to attend talks on infrastructure development during the Group of Seven (G7) summit in southern Italy on Thursday, two sources familiar with the matter said.

Satya Nadella, the CEO of Microsoft, and Larry Fink, his counterpart at asset manager BlackRock, will be joined by Italian business figures including the heads of energy group Eni, utility Enel and state investment group CDP.

They will take part in talks on the G7 Partnership for Global Infrastructure and Investment to be held at the Borgo Egnazia venue on Thursday afternoon.

The session is expected to focus on development in Africa, one of the key themes of the June 13-15 summit of G7 leaders hosted by Italian Prime Minister Giorgia Meloni.

https://PiQSuite.com/reuters/microsoft-blackrock-ceos-expected-to-attend-g7-session-in-italy

Canadian-led team finds ship that polar explorer Shackleton died on

Jun 12th, 11:04:00

OTTAWA (Reuters) - A team of divers in Atlantic Canada has found the Quest, the ship on which renowned polar explorer Ernest Shackleton died in 1922, the Royal Canadian Geographical Society said on Wednesday.

In a statement, it said the Quest, a schooner-rigged vessel, lay at a depth of 390 meters (1,280 feet) off the coast of Newfoundland and Labrador, Canada's easternmost province. The ship, which was damaged by ice and sank in 1962 when being used by seal hunters, was found intact on Sunday.

Shackleton, preparing for his fourth journey to the Antarctic, died of a heart attack aboard the Quest on Jan 5, 1922, near the remote island of South Georgia in the South Atlantic. He was 47.

After his death, a Norwegian company bought the Quest and used it for expeditions. It was also put into service with the Royal Canadian Navy during World War Two.

https://PiQSuite.com/reuters/canadian-led-team-finds-ship-that-polar-explorer-shackleton-died-on

>>21010855

You're not wrong.

Growing….