Monthly Bitcoin & Crypto Update (June)

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What’s in Today’s Report:

  • Monthly Bitcoin & Crypto Update (June)

Futures are tentatively higher as semiconductor shares continued to stabilize in Asian trade as Q2 came to an end while investors look ahead to today’s ceasefire talks between the U.S. and Iran in Qatar.

Economically, German Retail Sales rose 1.1% vs. (E) 0.1% in May while the Unemployment Rate held at 6.3% vs. (E) 6.4% in June; both reports are helping ease worries about a Eurozone economic slowdown in 2026, supporting risk-on money flows regionally.

Today, there are a handful of economic reports due out in the U.S. including the Case-Shiller Home Price Index (E: 1.0%), the FHFA House Price Index (E: 2.1%), the Chicago PMI (E: 55.2), Consumer Confidence (E: 94.5), and JOLTS (E: 7.307 million). More resilience in the data (but not “too hot”) will be best for stocks to end the quarter on a positive note.

Additionally, there is one Fed speaker with Hammack scheduled to deliver remarks at 10:40 a.m. ET as well as a 6-Week Treasury Bill auction at 11:30 a.m. ET (the stronger the demand, the better for stocks and bonds today).

Finally, there are a few noteworthy earnings releases to watch today with NKE ($0.11), STZ ($3.22), and PRGS ($1.15) all due to report quarterly results.

 

I Don’t Think Any of This is a Major Indictment of AI, Tom Essaye tells Barron’s.

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I don’t think any of this is a major indictment of AI, Tom Essaye tells Barron’s.

Mag 7 Stocks Shed Nearly $3 Trillion This Month

Sevens Report Research’s Tom Essaye told Barron’s that the so-called hyperscalers are drawing some scrutiny from Wall Street lately for their big spending efforts.

“I don’t think any of this is a major indictment of AI, but if we think about all this stuff needing an ROI, if everything costs way more, then the ROI needs to be bigger—or big enough—to absorb these insane cost increases that people have to deal with on the memory and chip side of things,” Essaye says.

Also, click here to view the full article published in Barron’s on June 25th, 2026. However, to see the Sevens Report’s full comments on the current market environment sign up here.

If you want research that comes with no long term commitment, yet provides independent, value added, plain English analysis of complex macro topics, then begin your Sevens Report subscription today by clicking here.

To strengthen your market knowledge take a free trial of The Sevens Report.

Join hundreds of advisors from huge brokerage firms like Morgan Stanley, Merrill Lynch, Wells Fargo Advisors, Raymond James, and more! To start your quarterly subscription and see how The Sevens Report can help you grow your business, click here.

With Inflation and AI Spending, It’s All About Sustainability

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What’s in Today’s Report:

  • With Inflation and AI Spending, It’s All About Sustainability
  • Weekly Market Preview: Two of the “Big Three” Economic Reports Out This Week

Futures are modestly higher as easing tensions between the U.S. and Iran lift sentiment and support a rebound in tech stocks.

The U.S. and Iran reportedly agreed to halt strikes around the Strait of Hormuz and resume peace talks. Despite this weekend’s headlines, markets remain focused on the reduced risk of further escalation.

There were no major market-moving economic reports overnight.

Today focus will remain on geopolitics and any headlines that reduce the chances of renewed escalation between the U.S. and Iran should be supportive for stocks. Conversely, any signs the ceasefire is breaking down would likely pressure markets.

Away from geopolitics, there are no economic reports or Fed speakers today. The Treasury will auction 3-Month and 6-Month Bills at 11:30 a.m. ET, and stronger-than-expected demand should help support stocks as the week begins.

 

Hyperliquid Has Been One of the Breakout Success Stories

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One of the breakout success stories in digital assets, Tom Essaye tells Barron’s.

Believe the HYPE. 1 New Crypto ETF and 2 New Funds Look Intriguing

Tom Essaye, editor of daily markets newsletter The Sevens Report, remarked Thursday that the Bitwise Hyperliquid exchange-traded fund piqued his interest.

Essaye noted that Hyperliquid has been “one of the breakout success stories in digital assets” since perpetual futures are “crypto native derivatives that allow continuous leveraged exposure to assets without expiration.” They are being used with commodities and stocks, too, such as for trading oil on the weekends and betting on pre-IPO pricing trends for SpaceX.

Essaye added that investors in the Bitwise ETF can profit from both the appreciation in the price of the Hyperliquid token as well as the fact that the ETF earns so-called staking rewards, yield generated by validating tokens on the blockchain. Essaye said he also likes the fact that Bitwise invests nearly all the fees it receives back into Hyperliquid by purchasing more tokens.

Also, click here to view the full article published in Barron’s on June 25th, 2026. However, to see the Sevens Report’s full comments on the current market environment sign up here.

If you want research that comes with no long term commitment, yet provides independent, value added, plain English analysis of complex macro topics, then begin your Sevens Report subscription today by clicking here.

To strengthen your market knowledge take a free trial of The Sevens Report.

Join hundreds of advisors from huge brokerage firms like Morgan Stanley, Merrill Lynch, Wells Fargo Advisors, Raymond James, and more! To start your quarterly subscription and see how The Sevens Report can help you grow your business, click here.

One of the Breakout Success Stories in Digital Assets

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One of the breakout success stories in digital assets, Tom Essaye tells Barron’s.

Believe the HYPE. 1 New Crypto ETF and 2 New Funds Look Intriguing

Tom Essaye, editor of daily markets newsletter The Sevens Report, remarked Thursday that the Bitwise Hyperliquid exchange-traded fund piqued his interest.

Essaye noted that Hyperliquid has been “one of the breakout success stories in digital assets” since perpetual futures are “crypto native derivatives that allow continuous leveraged exposure to assets without expiration.” They are being used with commodities and stocks, too, such as for trading oil on the weekends and betting on pre-IPO pricing trends for SpaceX.

Essaye added that investors in the Bitwise ETF can profit from both the appreciation in the price of the Hyperliquid token as well as the fact that the ETF earns so-called staking rewards, yield generated by validating tokens on the blockchain. Essaye said he also likes the fact that Bitwise invests nearly all the fees it receives back into Hyperliquid by purchasing more tokens.

Also, click here to view the full article published in Barron’s on June 25th, 2026. However, to see the Sevens Report’s full comments on the current market environment sign up here.

If you want research that comes with no long term commitment, yet provides independent, value added, plain English analysis of complex macro topics, then begin your Sevens Report subscription today by clicking here.

To strengthen your market knowledge take a free trial of The Sevens Report.

Join hundreds of advisors from huge brokerage firms like Morgan Stanley, Merrill Lynch, Wells Fargo Advisors, Raymond James, and more! To start your quarterly subscription and see how The Sevens Report can help you grow your business, click here.

Micron Earnings – The Evolution of the AI Trade

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What’s in Today’s Report:

  • Micron Earnings – The Evolution of the AI Trade

Futures are lower led by tech as a global selloff in chipmakers continues amid AI infrastructure concerns.

South Korea’s KOSPI fell nearly 6% as losses in Samsung and SK Hynix fueled another round of semiconductor selling while reports that OpenAI could delay plans to go public are also weighing on sentiment.

Today focus will be on Trade in Goods (E: -$85.2B), Consumer Sentiment (E: 50.0), and Wholesale Inventories (E: 0.3%). Markets will want stable economic data as investors assess the recent tech-led pullback.

Beyond the data, Fed Governor Kashkari speaks at 11:30 a.m. ET. There are no notable earnings today, leaving markets primarily focused on the tech sector and economic data.

 

New ETFs to Watch (Recent Releases)

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What’s in Today’s Report:

  • New ETFs to Watch (Recent Releases)

Futures are moderately higher following blowout Micron earnings and a further decline in oil prices.

Micron (MU) earnings and guidance were much stronger than expected (stock up 17% pre-market) and that’s helping tech and the broader market to rebound.

Oil prices dropped another 1% overnight as insurance rates for Hormuz transit plunged.

Today focus will be on economic data and the key reports are, in order or importance:  Core PCE Price Index (E: 0.3% m/m, 3.4% y/y), Durable Goods (E: -4.7%) and Jobless Claims (E: 225K).  The best case scenario for stocks, which would further the early rally, would be better than expected Core PCE Price Index that eases inflation/rate hike concerns and solid Durable Goods and jobless claims (signaling still solid growth).

There are also two Fed speakers today, the most important of which is Williams (3:40 p.m. ET) and if he downplays rate hike chances, that would be another positive tailwind on markets.  Chicago Fed President Goolsbee also speaks but after the close (6:30 p.m. ET).

 

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Investors Are No Longer Willing To Pay Up Blindly For The Data Center Boom

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Cheap AI stock valuations raise doubts about data center demand

Tom Essaye argues they may be saying something less comfortable: investors are no longer willing to pay up blindly for the data center boom.

Essaye, founder of Sevens Report Research, said in a Wednesday note that cheaper AI stock valuations could reflect fear that the current wave of data center spending may slow. That matters because growth stocks typically receive richer multiples when investors believe future earnings will justify them. When some of the market’s most visible AI-linked names trade close to, or below, the S&P 500’s forward price-to-earnings ratio of 21.5, the message is not simply that shares are inexpensive. It may be that investors are questioning whether the earnings they once expected will arrive.

Essaye framed the risk through a hypothetical example. “Think of it this way: GOOGL (to use one as an example) cancels building 10 data centers because it’s going to cost too much money and the return isn’t there,” he wrote. “That will result in massive order cancellations at NVDA, MU, AVGO, SNDK, etc., because no one needs the chips, networking, memory, or processor power,” he added.

Also, click here to view the full article on Financial-world.org published on June 21st, 2026. However, to see the Sevens Report’s full comments on the current market environment sign up here.

If you want research that comes with no long term commitment, yet provides independent, value added, plain English analysis of complex macro topics, then begin your Sevens Report subscription today by clicking here.

To strengthen your market knowledge take a free trial of The Sevens Report.

Join hundreds of advisors from huge brokerage firms like Morgan Stanley, Merrill Lynch, Wells Fargo Advisors, Raymond James, and more! To start your quarterly subscription and see how The Sevens Report can help you grow your business, click here.

Tom Essaye Thinks Investors Aren’t Sure The Current Data Center Boom Will Last

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AI chip stocks show low P/E ratios amid investor doubt

Sevens Report Research founder Tom Essaye thinks this is because investors aren’t sure the current data center boom, fueling AI growth, will last.

Tom Essaye warns of massive cancelations.

Essaye compares today’s situation to the dot-com crash in 2000, warning that if market hype doesn’t turn into real growth, suppliers like NVIDIA and Micron could take a hit.
He says inflated expectations can backfire if demand doesn’t keep up: “massive order cancelations” could follow.

Also, click here to view the full article on NewsBytes.com published on June 22nd, 2026. However, to see the Sevens Report’s full comments on the current market environment sign up here.

If you want research that comes with no long term commitment, yet provides independent, value added, plain English analysis of complex macro topics, then begin your Sevens Report subscription today by clicking here.

To strengthen your market knowledge take a free trial of The Sevens Report.

Join hundreds of advisors from huge brokerage firms like Morgan Stanley, Merrill Lynch, Wells Fargo Advisors, Raymond James, and more! To start your quarterly subscription and see how The Sevens Report can help you grow your business, click here.

The Real Reason Behind the AI/Tech Selloff

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What’s in Today’s Report:

  • The Real Reason Behind the AI/Tech Selloff
  • Composite PMI Takeaways – A Goldilocks Print
  • How Silver and Copper Prices Suggest the AI Angst Is “Real”

Futures are modestly higher this morning as tech shares show signs of stabilizing (Nasdaq futures up ~0.5%) ahead of notable semiconductor earnings from MU due out this afternoon while oil prices continue to favorably decline.

Economically, the German Ifo Survey’s Business Climate headline rose 0.6 points to 85.6 vs. (E) 85.5 helping ease economic worries triggered by yesterday’s Eurozone PMI release.

Today, there are no Fed officials scheduled to speak and just one economic report to watch in the U.S. with New Home Sales (E: 640K) due out shortly after the open.

The Treasury will hold a 4-Month Bill auction at 11:30 a.m. ET and a 5-Yr Note auction at 1:00 p.m. ET; if demand for either is weak, yields could turn higher again which could act as a renewed headwind on equity markets.

Finally, there are a few noteworthy earnings releases today with PAYX ($1.31), JEF ($1.09) and most importantly MU ($20.81) all due to report quarterly earnings. Given the recent volatility has been concentrated in tech/semis, the market will be looking for strong results and guidance from MU after the close today to help the market continue to stabilize.