Good morning.
Micron reports earnings today after the bell: already up 62% in 2026, and analysts are expecting 148% revenue growth. The Fed wraps its two-day meeting tomorrow. And hedge funds just posted their worst losses since Liberation Day.
There's a lot moving. But one thing is quietly doing the opposite of moving: a gold and copper miner trading under $1 while gold pushes toward $5,000. More on that below.
This is not financial advice. Always do your own research. Past performance doesn’t guarantee future results.
Major Banks Raise Gold Targets. Wall St. Hasn't Repriced This
For most of the past decade, gold was viewed as a hedge.
Now it's being repriced as a strategic asset.
Bank of America and JPMorgan have both lifted their gold targets toward $6,000 as central bank buying accelerates and fiscal uncertainty grows.
When that happens, capital usually flows first into bullion and large producers.
Smaller exploration names often follow later.
But one junior still trades under $1 with drilling underway in a district that has produced more than 30 million ounces of gold.
Why it stands out:
Sub-$1 valuation during record gold prices
Active drill program while uncertainty still prices the story
Exposure to gold, copper, and zinc
Wall Street has repriced many gold names.
Not this one.
📰 Market Headlines
US stocks rose for a second straight day as investors navigated fresh attacks in the Iran war and braced for the Fed's policy decision Wednesday.
The Dow gained roughly 0.1%, while the S&P 500 and Nasdaq picked up 0.3% and 0.5%, respectively.
Brent crude futures climbed back to around $103.50 per barrel after Iran set a massive UAE gas field ablaze overnight. US diesel topped $5 a gallon for the first time since December 2022.
The Fed kicks off its two-day meeting today with officials widely expected to hold rates steady at 3.5%-3.75%. The oil shock has complicated the picture: rising energy prices push inflation higher while simultaneously dragging on growth. Traders aren't pricing in a cut until December.
Former Kansas City Fed president Esther George told Yahoo Finance that the job market is on "thin ice" and expects the spike in prices to linger into the fall even if the war ends soon.
Hedge funds aren’t doing too hot at the moment. The Iran conflict has battered their profits, according to CNBC, and they haven’t done this poorly since President Trump’s Liberation Day tariffs last April.
“Markets have generally been risk-off, with many trading on inflation fears or even the potential for a negative growth shock from increased oil prices” — Kathryn Kaminski, AlphaSimplex’s chief research strategist.
Micron Technologies (MU), already up 62% year-to-date, announces earnings today after the closing bell. Analysts are expecting 148% revenue growth for the quarter. Micron is now the 21st-largest company in the world at a market cap of over $500B; for context, that’s larger than Oracle.
President Trump postponed his summit with Xi Jinping by five or six weeks, citing the need to stay in Washington while the Iran conflict rages. The president also scolded NATO allies for refusing to help secure the Strait of Hormuz, calling it a "foolish mistake."
The Trump administration is releasing 172 million barrels from the Strategic Petroleum Reserve as a loan to tame prices. The move is already reshaping the futures curve: traders are selling prompt barrels and buying 2027 contracts when borrowers must repay. WTI futures for 2027 are trading nearly $5 higher than a week ago.
Elon Musk and the SEC are in settlement talks over the regulator's lawsuit accusing him of failing to promptly disclose his Twitter stake in 2022. A court filing Tuesday revealed the two sides are discussing "a potential resolution."
The SEC issued long-awaited crypto guidance this week, adding regulatory clarity as the industry continues its push toward mainstream adoption.
🥇 Gold miner still under $1. See the ticker →
🤖 AI/Future/Tech News
The Pentagon is developing alternatives to Anthropic after their $200 million contract collapsed over weapons autonomy disputes.
Alibaba unveiled Wukong (a new enterprise AI platform) with Slack and Teams integrations planned.
Apple's first "background security" update fixed a Safari bug letting malicious websites steal data from other sites.
BuzzFeed's AI apps flopped at SXSW, awkward for a company down 90% since its 2021 SPAC debut.
🚨 Trending on Reddit
Lululemon Athletica (LULU) mentions rose 300%. Chatter centered on competitive pressure in the athleisure market. Some users questioned whether the brand is losing dominance, while a few traders discussed buying put options on expectations of a decline.
SoFi Technologies (SOFI) mentions rose 620%. Sentiment was mixed. Some users referenced a Muddy Waters report alleging shareholder dilution and unrecorded debt, while others joked about the company’s aggressive marketing and customer acquisition tactics.
🤫 Insider Trading
🚚 Market Movers
Mastercard snapped up stablecoin startup BVNK for up to $1.8 billion to bridge payment rails with blockchain across 130+ countries.
Alphabet closed its $4.75 billion acquisition of Intersect, securing gigawatts of energy projects and Texas data centers for AI infrastructure.
OpenAI inked a deal with AWS to sell AI products to US agencies, encroaching on Anthropic's turf after DOD labeled it a supply-chain risk.
Amazon rolled out 1-hour and 3-hour delivery in major US cities. Prime members pay $9.99; non-members pay $19.99.
Picsart launched an AI agent marketplace letting 130 million users hire assistants for Shopify editing and bulk image work.
🎙 Make Your Voice Heard
🎤️ What you said last time
🎨 Alternative Investment of the Day: Fine Art
The global art market returned to growth in 2025, reaching $59.6 billion in total sales, a 4% increase from the previous year, according to the Art Basel and UBS Global Art Market Report. After two consecutive years of decline, the market is showing signs of recovery driven by high-value auctions and established artists.
Public auction sales surged 9% to $20.7 billion, with particularly strong performance in artworks valued at $10 million or more, sales in this tier increased nearly 40% in the US The Impressionist and Post-Impressionist segment experienced the strongest growth, up 47%, while Modern art rebounded 9%. Interestingly, nearly half of all buyers in 2025 were new to dealers' businesses, though collectors are gravitating toward established artists and blue-chip works during a period of geopolitical uncertainty.
Fine art offers tangible ownership, aesthetic enjoyment, and potential for significant appreciation, particularly for works by recognized artists with strong provenance and exhibition history.
🧠 The Missing (Market) Links
The SEC is planning to kill mandatory quarterly reporting and let public companies file semi-annually instead, aligning the US with Europe and Asia.
US diesel prices just breached $5 per gallon for the first time since 2022, BNY Mellon analysts cite tight refinery capacity and geopolitical tensions.
US pending home sales unexpectedly jumped 1.8% in February despite economists predicting a decline, though rising mortgage rates could reverse the trend.
Data centers are bypassing the grid for natural gas, midstream companies like Kinder Morgan and Williams have $10-15 billion project backlogs to meet AI power demand.
Norwegian salmon prices cratered from oversupply, then whipsawed when US tariffs hit, American consumers kept buying anyway.
NICU costs at US children's hospitals surged 20% from 2017-2022, with extremely preterm infants at 7% of admissions but 29% of total costs.
The US denim jeans market is projected to hit $27.2 billion by 2032, sustainable and premium denim driving 5.3% annual growth.
📜 Quote of the Day
The most important quality for an investor is temperament, not intellect.
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Brandon & Blake of Invested Inc
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