Gold and Silver fell with Gold down 2% in the past 5 days at $5834CAD and down 2% month over month. Silver is down 7% this month and down 5% from the last 5 days now $84.75 CAD. Silver is still up 67% Year over Year. US Dollar index DXY is flat this week at 100.97 and up 4% YOY. SP500 Volatility Index VIX is down 8%. SP 500 ES futures rose 1.5% and are now trading 7627 off 20 handles from their all time highs and having remained above 7000 since mid April..
Capital markets were driven by renewed U.S.-Iran hostilities, tech and semiconductor volatility, and inflation concerns. Global inflation concerns surged, leading the US 10yr treasury to trade above 4.5%.
The truce ended after Iran targeted Qatari and Saudi Arabian commercial tankers in the Strait of Hormuz. In response, the U.S. launched strikes on approximately 170 sites.
Crude WTI futures are up 5% at $71.49 and now up 9% YOY. On March 2, 2026, Iran's Islamic Revolutionary Guard Corps (IRGC) officially declared the Strait of Hormuz closed.
On June 17th President Trump stated that US oil reserves would run dry in 4 weeks without an Iranian compromise. “We run out of reserves at about four weeks,” Trump said
NYMEX NG natural gas futures which spiked over 100% above $7 in January are down 8% this week now trading $2.94 USD per Million BTU.
The Crypto collapse has paused near the 52 wk low, with BTC up 2% this week to $63,800 and ETH up 2% at $1790. Crypto Holding Company Strategy MSTR is flat at $94.64 over the past 5 days. .
Ai powered Government Contractor Palantir is flat - PLTR currently trades at $126.79, and down 6% YOY after falling from a 52 week high of 207.52.
NVDA is up 8.5% in the past 5 days at $210.96, and is over a 5 Trillion dollar market cap. NVDA accounts for approximately 8% of the entire SP500
SPCX SpaceX is down 12% this week at $145.30, just below $2 Trillion dollars in market cap. Spacex Fiscal Year loss stands just below $5 billion.
S&P AeroSpace and Defense ETF XAR fell 6% in the past 5 days to $271.45 after making a new All Time High in March of 295.23 following the assasination of the Iranian Supreme Leader. XAR is up 13% Year to Date
Weekly Jobless Claims were down 2,000 at 215,000 for the week ending July 4th.
The Gold/Silver ratio rose 3% now at 68.83 up from a low this year of 43.52 after falling steadily since late October and from its March high of 107. Longer 20 yr and 30 yr US government bonds yields rose above 5%, currently 5.06 and 5.07% respectively.
The Polymarket quoted probability of a total 0 bps in cuts remains at 78%. The probability of at least a 25 bps rate hike is currently 54%. Short term rates stand above 4% in the 2yr at 4.21%
US Comex Copper Futures HG, a leading indicator of economic growth, are up 2% $6.28 usd/lb after a recent new all time high in this week of $6.72 usd/lb..