Morning Brew June 25 2025

Good morning,

Yesterday was another “Intersting” day:

After the announcement and larger holding of the ceasefire oil fell, equity gained, and the USD gave up ground. The Dow rose 1.2%, the S&P 500 1.1%, and the Nasdaq gained 1.5% to close at an all-time high! The US 500 only has 60 points to go to hit a new all-time high!  Volumes were relatively low at 2 billion below the 20 day average. The GER40 is now 23710.

Among single stocks, FedEx fell in the aftermarket on a slow outlook caused by tariffs, Crypto Stocks rose while energy stocks fell. Broadcom was upgraded by HSBC and rose app 4%. UBS rose 3% to trade at 25.80

Jerome Powell reiterated his stance that he would wait for the tariff-impact to be measurable but sounded a bit more dovish than before. "we are well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance." He believes the tariffs will become noticeable in inflation numbers in Friday`s release or the July one – if not, he would be open to cut rates.

10 Year Yields fell to 4.3% and the USD Index to 97.95. EURUSD is at 1.1615, USDJPY is 145 and GBPUSD 1.3615. Gold and Silver swung wildly yesterday trading as low as 3295 and 35.28 before recovering to 3330 and 36. Platinum is at 1320. Bitcoin and Ethereum are 106125 and 2430.

U.S. President Donald Trump told Congress that the Iranian sites bombed by the U.S. housed a "nuclear weapons development program," even though U.S. spy agencies have said no such program existed, according to Reuters, He was clearly upset in a TV Interview on the Whitehouse lawn using swear words towards Iran and Israels behavior.

Todays Agenda is thin in terms of data but the Nato Summit and the fragile peace in the Middle East are worth watching. We are also approaching the  end of the first half of a memorable year and may well see position adjustments.

Charu took a look at the appeal of European dividend shares and Jacob commented on Tesla`s Robo Taxi

Europe’s dividend edge: A compelling case for long-term investors

• In today’s uncertain market environment, dividends provide a critical buffer, offering steady income even when capital gains are hard to come by.
• European stocks stand out with higher dividend yields and more compelling valuations than US peers, making them a valuable addition for income-focused portfolios.
• Europe’s dividend universe spans a broad mix of sectors—from energy and financials to healthcare and utilities—allowing investors to tap into diverse economic drivers while earning stable returns.

Tesla’s robotaxis have arrived: A turning point or just another hype cycle?

• Tesla officially entered the autonomous ride-hailing market with a cautious, controlled launch in Austin, Texas.
• Investor enthusiasm sent shares surging 8%, driven by optimism around a potentially transformative business model.
• Real-world operational challenges and strong competition from established players like Waymo highlight the significant hurdles Tesla faces.

Wednesday

• Australia CPI
  Powell speaks

  Thursday

• US Durable Goods, GDP, Initial Jobless Claims
• Switzerland, Sweden UK, Turkey Rate decisions

   

  Friday

• Japan CPI
• France CPI
• EU Consumer Confidence
• US PCE