JUST IN: Fed's Powell states the economy remains strong despite uncertainty. Tariffs could raise prices and impact the economy. US short-term interest rate futures dip as traders anticipate lower chances of early Fed rate cuts.

JUST IN: Fed's Hammack indicates more progress needed for 2% inflation target, notes policy is near neutral, expects Fed to hold steady for now, and sees no urgent need to cut interest rates.

JUST IN: Fed's Powell suggests earlier rate cuts if inflation is weaker than anticipated.

JUST IN: Fed's Powell states that rate cuts are on hold due to anticipated significant inflation growth this year.

Trump nominated for Nobel Peace Prize

Donald Trump has been nominated for the Nobel Peace Prize for brokering the ceasefire agreement between Iran and Israel.

JUST IN: Blast detected in Damascus, Syria - per Reuters correspondents.

JUST IN: Powell predicts significant tariff inflation effects from June to August. If not observed, it could lead to earlier cuts.

JUST IN: The EU cautions that even a minimal Trump tariff could provoke retaliation.

Polymarket nears $200M raise at $1B+ valuation

Prediction market platform Polymarket is reportedly close to raising $200M, pushing its valuation beyond the $1B mark.

session stops:

orders like to absorb price below or above session highs/lows.

in particular during the opening phase of New York session.

stops placed above or below London session trigger predictable orders to fill from the passive limit side.

example ↑

China's rare earth magnet exports plunge 74% YoY

In May, China’s rare earth magnet exports fell 74% YoY — the largest monthly drop on record. Total exports hit 1.2M kg, the lowest since Feb 2020.

Exports to the U.S. collapsed 93% to ~46,000 kg after a 59% drop in April.

China produces ~69% of the world’s rare earth minerals and processes ~90%, making its exports a central lever in the tariff war.

Polymarket currently gives just 30% odds that OpenAI's ChatGPT hits 1B monthly active users by Dec 31, 2025.

As of March, it had ~600M MAUs (per Google court filing). To reach 1B, it’d need 8.8% MoM growth—faster than TikTok managed at scale.

For reference, ChatGPT grew ~9% MoM from 100M to 400M WAUs in 2023–24.

JUST IN: Trump claims the Iranian nuclear program has been set back by decades. He states that a US strike on Iran "ended the war."

JUST IN: Trump on Iran:

“The ceasefire between Iran and Israel is going well.

I think we will have some sort of relationship with Iran.

Iran will not have a nuclear bomb.”

In response to a question about Iran’s uranium enrichment plans, Trump said:

“We will not allow it — even by military means.”