Weekly macro analysis column: Friends who like it, please follow
This week's assessment:
The House passes resolution limiting Trump's war powers regarding Iran
This marks the fourth time since the outbreak of war that the House has voted on a resolution to limit the president's war powers, and it isthe first time it has passed, with a vote of215 in favor and 208 opposed. Four Republican representatives joined Democrats in voting yes.
The measure is a joint resolution from both chambers and must be approved by both the House and Senate to take effect. Joint resolutions do not require the president’s signature and cannot be vetoed, butthey carry no legal force, more symbolic in nature
$Brent Last Day Financial Futures (AUG6) (BZmain.US)$
Hollow growth in US GDP
US first-quarterGDP grew at an annualized rate of 1.6%, but excluding government spending and AI-related investment, private-sector economic growth was nearly zero. Current US economic growth is heavily reliant on AI investment and stock market wealth effects, while traditional consumption and investment remain weak—described as the most 'hollow' expansion on record.
Although core US inflation has slowed month-over-month, it has hit a new high year-over-year; wage growth has already fallen behind inflation, forcing consumers to draw down savings to sustain spending. April economic data suggests the US is entering a “Stagflation” phase: rising AI hardware expenditures and higher oil prices are dampening demand through price increases.
US consumption relies on the top 2% wealthy, disconnected from the broader economy
The wealthiest28 million Americans account for nearly 50% of consumption，Meanwhile, the bottom 80% of the population...

🕐 Market Recap | Thursday, June 4, 2026
Today’s session is the most interesting one this week. The rotation happening under the surface is telling a cleaner story than the headline numbers suggest.
GOOGL $Alphabet-A (GOOGL.US)$ is the biggest mover today, up +3.50% to $371.57. After two brutal sessions of selling following the $80 billion equity raise announcement, the RSI had crashed to deeply oversold territory and the buyers finally stepped in. This is n...

Key Takeaways:
• Trump Lands in Beijing
• Kevin Warsh Confirmed as Fed Governor by Senate
• SpaceX and Google in Talks to Launch Orbital Data Centers into Space
• Anthropic In Talks to Raise $30 Billion at $900 Billion Valuation
• Key Earnings: BABA, NBIS, etc.
🔔Before the Bell
S&P 500 and Nasdaq-100 futures rose on Wednesday, driven by gains in chipmaker stocks.
$E-mini NASDAQ 100 Futures (JUN6) (NQmain.US)$ went up by 0.55%;
$E-mini S&P 500 Futures (JUN6) (ESmain.US)$ went up b...

$S&P 500 Index (.SPX.US)$ and $Nasdaq Composite Index (.IXIC.US)$ are trading at all-time highs. Risk appetite, by almost any measure, has staged a remarkable comeback. So why does this feel less like a celebration and more like a final exam?
The market has spent the past month pricing in a perfect scenario — big-tech earnings beats, a dovish Fed, and a de-escalating geopolitical backdrop. This week, reality presents the bill. Five of the ...

$S&P 500 Index (.SPX.US)$ I predicted a rise of 50 points this morning!

$S&P 500 Index (.SPX.US)$ The key lies in the US-Iran negotiations on April 10

$Super Micro Computer (SMCI.US)$ The more severe the decline now, the greater the potential for future growth