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Daily 2026-06-25
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<table border="0" cellpadding="0" cellspacing="0" role="presentation" style="" width="100%">
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<table border="0" cellpadding="0" cellspacing="0" style="color:#000000;font-family:Inter,sans-serif;font-size:13px;line-height:22px;table-layout:auto;width:100%;border:none;" width="100%">
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S&P 500
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<td style="font-size:12px;color:#EA3459;font-weight:500;font-family:Trispace,monospace;width:30%;vertical-align:baseline;padding:10px 0 0 0">
0.01% ▼
</td>
<td class="s23">
7,357
</td>
</tr>
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<td class="s22">
GOLD
</td>
<td class="s24">
0.87% ▲
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<td class="s23">
$4,044
</td>
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BITCOIN*
</td>
<td style="font-size:12px;color:#EA3459;font-weight:500;font-family:Trispace,monospace;width:30%;vertical-align:baseline;padding:10px 0 0 0">
2.37% ▼
</td>
<td class="s23">
$59,540
</td>
</tr>
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<td colspan="3" style="font-size:10px;font-family:Trispace,monospace;color:#7F879C;padding:0">
*24-hour change
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<td class="s20">
<table border="0" cellpadding="0" cellspacing="0" role="presentation" style="" width="100%">
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<table border="0" cellpadding="0" cellspacing="0" style="color:#000000;font-family:Inter,sans-serif;font-size:13px;line-height:22px;table-layout:auto;width:100%;border:none;" width="100%">
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<td class="s22">
FTSE 100
</td>
<td class="s24">
0.72% ▲
</td>
<td class="s23">
10,537
</td>
</tr>
<tr>
<td class="s22">
BRENT OIL
</td>
<td class="s24">
2.18% ▲
</td>
<td class="s23">
$75.35
</td>
</tr>
<tr>
<td class="s22">
US BONDS*
</td>
<td class="s24">
0.01% ▼
</td>
<td class="s23">
4.40%
</td>
</tr>
<tr>
<td colspan="3" style="font-size:10px;font-family:Trispace,monospace;color:#7F879C;padding:0">
*10-year government yield
</td>
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<div style="font-family:Inter,sans-serif;font-size:14px;font-weight:700;line-height:1.5;text-align:left;color:#181c25;">
WALL STREET FEAR GAUGE INDEX
(
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VIX
</a>
)
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<p data-block-key="10zqs">
👀 Prediction market Kalshi's targeting a $40 billion valuation
</p>
<p data-block-key="62i99">
📝
<b>
FOR PRO MEMBERS:
</b>
Call Nicholas Sparks: This looks like a stock to remember
</p>
<p data-block-key="9jq64">
🔥 The Fed’s preferred
inflation gauge came in hot
</p>
<p data-block-key="bvg40">
<b>
👇 Keep reading to find out more
</b>
</p>
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👀
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Today's headlines
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<mj-raw>
<span class="s32">
I Like Big Bets And I Cannot Lie
</span>
</mj-raw>
</div>
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<p data-block-key="a6a31">
<b>
What’s going on here?
</b>
</p>
<p data-block-key="ee08q">
Prediction market platform
<b>
Kalshi
</b>
is eyeing a $40 billion valuation in fresh fundraising talks, barely a month after hitting $22 billion – and up from just $2 billion a year ago.
</p>
<p data-block-key="12uuq">
<b>
What does this mean?
</b>
</p>
<p data-block-key="3nnvm">
Kalshi lets users bet on real-world events – like, say, whether it’ll rain tomorrow,
or who’ll win
<i>
Love Island
</i>
. And that puts it in a regulatory gray area between
<a>
derivatives
</a>
(things like futures and options) and straight-up gambling.
</p>
<p data-block-key="6k391">
🔺 These days, Kalshi’s more popular than ever: users traded $17 billion on the platform last month, more than
<i>
triple
</i>
a year earlier. This funding round (which follows last month’s $1 billion
haul) will bankroll new products to keep them betting.
</p>
<p data-block-key="7ocof">
▶ Riding that growth, Kalshi is looking at a public listing – but not before 2027.
</p>
<p data-block-key="48in5">
<b>
Why should I care?
</b>
</p>
<p data-block-key="dab2b">
<b>
<i>
Zooming in:
</i>
</b>
<i>
Kalshi is a gamble.
</i>
</p>
<p data-block-key="7lcf9">
Kalshi’s rise reflects booming demand for event betting and a friendlier regulatory backdrop in the current US administration (the president’s eldest son is an
advisor to the company). But
<i>
state
</i>
-level pushback is limiting Kalshi’s expansion. Meanwhile, a $40 billion valuation would be nearly 20 times its annual revenue (that’s a lot). And seeing as it’s still private, investors’ access is limited.
</p>
<p data-block-key="djumh">
⚠️ Altogether, betting on Kalshi would be tricky in more ways than one – and its growth alone may not justify the price tag.
</p>
<p data-block-key="f483h">
<b>
<i>
Zooming out:
</i>
</b>
<i>
Following the crowd.
</i>
</p>
<p data-block-key="9mirl">
Analysts are predicting that prediction markets could grow to $1 trillion by 2030 (there’s probably a bet on that). So it makes sense that new players are entering the game. Sports-betting platforms
<b>
DraftKings
</b>
and
<b>
FanDuel
</b>
launched prediction products in December, and
<b>
TruthSocial
</b>
is beta-testing a crypto-based platform.
</p>
<p data-block-key="86vll">
▶ But
<b>
Meta
</b>
– also reportedly building a prediction market app – is the one to watch. The social
media behemoth has a big advantage over existing prediction platforms, with more than three billion daily users across its family of apps. That’s more than Kalshi and
<b>
Polymarket’s
</b>
customer bases
<i>
combined
</i>
.
</p>
</div>
</td>
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<tr>
<td align="left" class="s5">
<div style="font-family:Inter,sans-serif;font-size:14px;font-weight:bold;line-height:1.5;text-align:left;color:#000000;">
You might also like ⇢
<a>
Prediction Markets Are Booming. Here Are The Risks.
</a>
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SK Hynix Is A Memory Stock Worth Remembering
</span>
</mj-raw>
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<div class="s29">
<p data-block-key="pr7ai">
Memory is one of the hottest trades in tech right now – and
<a>
SK Hynix’s
</a>
right in the thick of it.
</p>
<p data-block-key="v1ga">
The
Korean chipmaker has become a key supplier in the AI buildout. Its specialty is high-bandwidth memory – the stuff that helps Nvidia’s most advanced chips do their job.
</p>
<p data-block-key="1255n">
But there’s another reason the stock
<a>
looks intriguing
</a>
: where it’s listed. South Korea has world-class
companies, cutting-edge chipmakers, and a couple of trillion-dollar tech giants. Yet, its stock market still trades at a
<a>
chunky markdown
</a>
to global peers – a gap investors have long referred to as the “Korean discount”.
</p>
<p data-block-key="4oqb">
Lately, though, that mood has
<a>
started to shift
</a>
. AI memory demand is surging, the country’s tech heavyweights are drawing more global attention, and fresh market reforms are in the works.
</p>
<p data-block-key="adl7">
And SK Hynix might be the
<a>
most interesting way
</a>
to play this moment.
</p>
<p data-block-key="9jhf4">
<a>
<b>
Read or listen to the Insight here
</b>
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👀
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Today's headlines
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<mj-raw>
<span class="s32">
Cloudy With A Chance Of Inflation
</span>
</mj-raw>
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<p data-block-key="xat3o">
<b>
What’s going on here?
</b>
</p>
<p data-block-key="ccfbp">
US inflation came in hot in May – but while one storm is starting to clear, there’s another gathering on the horizon.
</p>
<p data-block-key="gsqc">
<b>
What does this mean?
</b>
</p>
<p data-block-key="7hgaf">
When it comes to inflation gauges, the consumer price
<a>
index
</a>
(CPI) tends to make headlines – but the Federal Reserve prefers the personal consumption expenditures measure (PCE). That’s because the PCE covers a broader range of items and adjusts to how folks spend – say, if they switch to a cheaper substitute when a price goes up.
</p>
<p data-block-key="asft3">
🔺 May’s annual PCE inflation figure came in at 4.1% – a steady uptick from April’s 3.8% and the fastest pace in over three years.
</p>
<p data-block-key="1drlj">
🔺 And “core” PCE – which strips out volatile food and energy prices – rose to 3.4%, its highest level since October 2023.
</p>
<p data-block-key="4khs">
<b>
Why should I care?
</b>
</p>
<p data-block-key="7ip0a">
<b>
<i>
For markets:
</i>
</b>
<i>
One crisis ending...
</i>
</p>
<p data-block-key="6ecpr">
Last month’s hot
inflation
<a>
reading
</a>
wasn’t exactly a shock – the Strait of Hormuz’s prolonged closure squeezed energy supplies and pushed oil prices higher, which bumped up costs across the board. But since the US and Iran
<a>
reached
</a>
a peace deal this month, crude has tumbled.
</p>
<p data-block-key="2q802">
🔻 And on Thursday, oil fell
<i>
below
</i>
pre-conflict levels. That’ll help ease inflation fears and pressure on prices.
</p>
<p data-block-key="f6009">
<b>
<i>
The bigger picture:
</i>
</b>
<i>
… and a new one
starting.
</i>
</p>
<p data-block-key="72lga">
There’s another global economic risk brewing: El Niño. The Pacific Ocean-warming climate pattern is expected to return this year, with forecasters warning that it could be a particularly powerful “Super El Niño”.
</p>
<p data-block-key="evv1q">
⚠️ If they're right, the resulting swings in rainfall and temperatures could slash crop yields, snarl supply chains, push commodity prices higher, and slow economic growth. And you know what that means…
</p>
</div>
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You might also like ⇢
<a>
El Niño’s Back And, Boy, Could It Make A Mess Of Things
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<td align="left" class="s16">
<div class="s17">
<mj-raw>
<span class="s18">
✨
</span>
<span class="s19">
Sarah's Digest
</span>
</mj-raw>
</div>
</td>
</tr>
</tbody>
</table>
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<td align="left" style="font-size:0px;padding:10px 25px;padding-top:0;padding-right:0;padding-left:0;word-break:break-word;">
<div style="font-family:Trispace,monospace;font-size:12px;line-height:1.5;text-align:left;color:#5E6984;">
What others like you are reading today...
</div>
</td>
</tr>
<tr>
<td align="left" class="s34">
<div class="s29">
🍎
<a>
Apple Starts Raising IPad And Mac Prices As Memory Costs Jump
</a>
</div>
</td>
</tr>
<tr>
<td align="left" class="s5">
<div class="s35">
Apple says AI-driven demand for DRAM is forcing hikes like the MacBook Air 512GB moving to $1,299 from $1,099, while iPhone prices stay put.
</div>
</td>
</tr>
<tr>
<td align="left" class="s34">
<div class="s29">
📈
<a>
Micron’s Big Forecast Put The AI Chip Rally Back On Track
</a>
</div>
</td>
</tr>
<tr>
<td align="left" class="s5">
<div class="s35">
After Micron flagged tight memory supply and $22 billion in customer commitments, chip stocks climbed across the US, Europe, and Asia.
</div>
</td>
</tr>
<tr>
<td align="left" class="s34">
<div class="s29">
👑
<a>
JPMorgan Elevates Two Insiders As Dimon’s Succession Focus Sharpens
</a>
</div>
</td>
</tr>
<tr>
<td align="left" class="s5">
<div class="s35">
The bank named Doug Petno and Troy Rohrbaugh co-presidents and handed each a $30 million retention bonus as Marianne Lake prepares to retire.
</div>
</td>
</tr>
<tr>
<td align="left" class="s34">
<div class="s29">
🚩
<a>
Markets Are Flashing Red Flags, But Not A Clear Top
</a>
</div>
</td>
</tr>
<tr>
<td align="left" class="s5">
<div class="s35">
Strategists at JPMorgan, Barclays, and BCA still see the S&P 500 rising into end-2026, even after a wild first half marked by big swings in tech, crypto, and South Korean stocks.
</div>
</td>
</tr>
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<div class="s17">
<mj-raw>
<span class="s18">
🖋️
</span>
<span class="s19">
Quote of the day
</span>
</mj-raw>
</div>
</td>
</tr>
</tbody>
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<tbody>
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<td align="left" class="s5">
<div class="s29">
<strong>
"The gambling known as business looks with austere disfavor upon the business known as gambling."
</strong>
– Ambrose Bierce (an American writer)
</div>
</td>
</tr>
</tbody>
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<td align="left" class="s30">
<div class="s17">
<mj-raw>
<span class="s18">
🎯
</span>
<span class="s19">
On Our Radar
</span>
</mj-raw>
</div>
</td>
</tr>
</tbody>
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</div>
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<![endif]-->
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<div class="s29">
<p data-block-key="aaghi">
<b>
1. No new jobs.
</b>
But it looks like engineers are
<a>
surviving the AI-pocalypse
</a>
– so far.
</p>
<p data-block-key="avpal">
<b>
2. Rite of passage.
</b>
And on its 100th birthday, the SAT
<a>
might be losing steam
</a>
.
</p>
<p data-block-key="8cm4f">
<b>
3. Weekend watching.
</b>
The definitive ranking of
<a>
John Cusack movies
</a>
.
</p>
</div>
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<tbody>
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<td align="left" class="s5">
<div class="s29">
Stay classy, Sarah 😉 This issue of the Daily Brief was curated by
<a class="s36">
Theodora
</a>
,
<a class="s36">
Reda
</a>
, and
<a class="s36">
Linda
</a>
. Got an idea? A question?
<a>
Get in touch
</a>
.
</div>
</td>
</tr>
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<![endif]-->
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<tr>
<td align="left" class="s30">
<div class="s17">
<mj-raw>
<span class="s18">
💌
</span>
<span class="s19">
THAT WAS GREAT FOR US... HOW WAS IT FOR YOU?
</span>
</mj-raw>
</div>
</td>
</tr>
</tbody>
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<td align="center" bgcolor="#f8f9ff" class="s39" role="presentation" valign="middle">
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🔥
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Hot stuff
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<a class="s40" target="_blank">
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👍
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Just alright
</a>
</td>
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</tbody>
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😒
</span>
...Meh
</a>
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3 days, 14 hours ago - hello@finimize.com
🎰 Big bets on prediction markets
Plus, US inflation came in hot, as expected | Your Daily Brief is ready | 3:03 read time View in ...