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In the synopsis of the "Spider-Man" actor's memoir, "Bloodlines," he said he dealt with "a cascade of autoimmune-related illnesses" that attacked his body.

In the synopsis of the "Spider-Man" actor's memoir, "Bloodlines," he said he dealt with "a cascade of autoimmune-related illnesses" that attacked his body.

The Tartan Army took South Beach on Monday.  More than 8,000 Scottish soccer fans took over LoanDepot Park as the Marlins hosted the Rangers two days before Scotland faces Brazil in a crucial match in their final World Cup group stage match.  The traveling group of Scottish soccer fans traversing the United States for Scotland’s...

There may be plenty of fish in the sea — but a new survey says West Coast singles are getting hooked by catfish.

A crew of new radicals with soft-on-crime stances who back policies such as legalizing prostitution will take on moderate candidates in Tuesday's primary elections.

MP Materials' Lawsuit Against USA Rare Earth Highlights Battle For America's Future In Minerals

USA Rare Earth has dismissed a lawsuit filed by MP Materials, calling the claims "completely without merit" and arguing the case is an attempt to slow its growth. The company said it will deny all allegations that it improperly obtained confidential information from a former MP employee, according to Bloomberg.

The dispute underscores intensifying competition in the U.S. rare-earth sector, where both companies are racing to build domestic mining, processing, and magnet-production capabilities. USA Rare Earth said MP is trying to impede its progress as it develops the Round Top deposit in Texas and a magnet facility in Oklahoma.

Bloomberg writes that MP sued last month, alleging a coordinated effort by USA Rare Earth to recruit MP employees and misuse proprietary information. The lawsuit also questioned the viability of USA Rare Earth’s projects. MP declined to comment on the latest filing.

The clash comes as billions of dollars flow into the U.S. rare-earth industry amid efforts to reduce reliance on China, which continues to dominate global supply chains for the critical minerals.

Rare earth minerals have become increasingly important to the United States because they are essential components in advanced technologies, including electric vehicles, semiconductors, robotics, aerospace systems, and military equipment. Materials such as neodymium, praseodymium, dysprosium, and terbium are critical for manufacturing high-performance magnets used in everything from fighter jets and missile guidance systems to wind turbines and data centers.

The strategic importance of rare earths has grown as the U.S. seeks to reduce its dependence on China, which currently dominates global rare earth mining, processing, and magnet production. Supply chain disruptions and export restrictions have heightened concerns among policymakers and industry leaders, prompting significant investments in domestic mining, processing, and manufacturing capabilities. Companies such as MP Materials and USA Rare Earth are at the forefront of efforts to establish a secure and resilient American rare earth supply chain.

Under the Trump administration, rare earth minerals have become a central component of broader efforts to strengthen U.S. energy security, industrial competitiveness, and national defense. Recent policy initiatives and government support have accelerated domestic rare earth development, reflecting a growing consensus that securing access to these critical minerals is essential for maintaining America's technological leadership and reducing strategic vulnerabilities.

Tyler Durden Tue, 06/23/2026 - 12:30

Increased extreme weather tied to human-caused climate change leads the UN climate agency to say the next five years should shatter more heat records.

While many turn to a popular supplement to ease joint pain, new research suggests they could actually speed up cognitive decline.

A suspected late-night street race involving a high-end Porsche supercar ended in a devastating three-vehicle crash that sent multiple people to the hospital. 

She’s a “Superstar”! Molly Shannon was honored on Jun. 22 with a star on the Hollywood Walk of Fame. The “Saturday Night Live” comedian — and “The White Lotus” Season 1 alum — reflected on her decades-long career in TV and film. Her former “SNL” co-star, Will Ferrell, also gave a glowing speech, revealing that...

She’s a “Superstar”! Molly Shannon was honored on Jun. 22 with a star on the Hollywood Walk of Fame. The “Saturday Night Live” comedian — and “The White Lotus” Season 1 alum — reflected on her decades-long career in TV and film. Her former “SNL” co-star, Will Ferrell, also gave a glowing speech, revealing that...

This Is Only Fifth Time QQQs Gapped Down When Within 2% Of An All Time High

In a day of sharp, downward pointing market moves and superlatives, we can add another: according to calculations from BTIG's Jonathan Krinsky, today's 2% gap down in the QQQs is a historic event. "Since QQQ's inception ('99), this is just the 5th time that's happened when the day prior was within 2% of a 52wk high and the VIX was below 20."

What happens next? While near-term returns are split, all four of the signals saw QQQ meaningfully lower over the next month. Hardly a shock judging by how extreme the upside moves in semis/AI have been.

Meanwhile, Krinsky continues to highlight the "screaming" divergences within the market, as the hyperscalers continue to trade poorly, and in S. Korea you had the KOSPI rally over 4% the last four days when each day had extremely negative breadth.

Whether or not we rally in the short-term, the BTIG strategist continues to see medium-term downside risk for the tech/AI trade with ~5% further to go for QQQ and 10-15% more for areas like SOXX.

The good news is so far correlations remain low and this appears to be rotational in nature, with areas like financials and biotech still looking good.

The Focus observations: 

• QQQ Study. QQQ gapped down over 2% this morning. Since QQQ's inception ('99), this is just the 5th time that's happened when the day prior was within 2% of a 52wk high and the VIX was below 20. The four priors were: 5/16/19, 1/27/20, 2/24/20 and 1/27/25. While near-term returns were split,all four of the signals saw QQQ meaningfully lower over the next month.

• How Much Downside? From current levels, BTIG sees ~5% more downside for QQQ and 10-15% for SOXX.
• What if We Rally? Given the 'buy the dip' mentality, a further rally from today's lows would not be surprising. QQQ already up more than 1% off session lows as of 10:30et. While BTIG doesn't foresee recent highs being exceeded in the near-term, both 2020 and 2025 did see new highs before ultimately rolling over (note that those highs also were aided by COVID-19 and the 'tariff tantrum').

• The Good News. As of 11:30et, S&P breadth was +84 with five sectors green. REITs, banks, and insurers continue look good, as does Biotech, although XBI is a bit extended very short-term. For now, it still appears to be a positioning unwind rather than the start of a high-correlation selloff, and that allows other areas to work while the tech/AI trade takes a much-needed breather.

• Dollar Up, Gold Down. With the DXY breaking out through 100, a move towards 104 looks likely which should pressure gold down below 4k.

More in the full BTIG report available here.

Tyler Durden Tue, 06/23/2026 - 12:10

There’s A Shakespearean Tone To Current Developments

By Michael Every of Rabobank

Burnham would come to high Done-inane

There’s a Shakespearean tone to current developments: tragically, not one of his comedies.

The US has introduced a temporary waiver (until August 21) for Iranian oil sales that undoes 40 years of sanctions. Iran can sell what it likes to who it likes, including the US, and receive US dollars. Two months isn’t enough time to sell much, but if the White House wants to show Iran it’s serious about offering new opportunities that’s been achieved. Equally, Iran says an agreement has been reached to release $12bn in frozen funds, but disputes Trump's claim it will buy food exclusively from the US with it.

More importantly, VP Vance said Iran has agreed to nuclear inspections from the IAEA, a huge concession. However, Iran responded that’s not the case and it didn’t negotiate nuclear matters so far in Switzerland.

On Hormuz, the Iranian view remains it will manage the strait and charge for passage within months: Trump’s is the polar opposite. That’s as transits seem to be running at around a quarter to a third of normal levels, at best. Indeed, the squeeze in bunker fuel is still evident in rising ocean carrier freight rates.

On Lebanon, a new deconfliction mechanism is floated that excludes Israel, as PM Netanyahu, Defence Minister Katz, and IDF head Zamir reiterated a pledge to “continue to act decisively” and hold their security zone there, including the 1km-long, 25-metre deep underground Hezbollah missile and drone base in Ali Taher ridge, evidence of how much Iran has ploughed into its proxy. Separately, the Israeli and Lebanese governments will meet in Washington to discuss normalization and elusive Hezbollah disarmament; and in the background, Syria has signaled that, after Trump's suggestion, it will only engage Hezbollah if Lebanon requests it.

The Saudi paper Asharq Al-Awsat reports Hamas held a top-secret meeting with French officials to discuss a possible return to '1967 borders', which they’ve floated before as a temporary truce, that could unlock Trump’s Board of Peace and ‘Gaza-Lago’ redevelopment plans.

Yet the Jerusalem Post reports new Mossad boss Gofman is taking the agency “by storm” and is ramping up plans to topple the Islamic regime. So, what’s it to be in the Middle East, beyond the current calm?

"Something wicked this way comes"

UK PM Starmer resigned, as former Mayor of Manchester Andy Burnham sealed his doom by coming to high Done-inane, swearing in as an MP in Westminster after not being one a week ago. The UK press is abuzz with discussions of who will be in his cabinet, like what’s-his-face and that-one-from-a-few-years-ago. There’s a natural market focus on who’ll be the Thane of Cawdor Chancellor: Burnham needs to reassure Gilts that fiscal rules will be adhered to and his leftwing backbenchers that he’s offering something new enough that his popularity won’t follow the same rapid downwards trajectory as that of Starmer, Sunak, Truss, Johnson, and May.

One immediate impact is that the July EU-UK summit has been postponed: nobody knows what Burnham’s view re: the EU will be, but he has previously backed rejoining.

“If you can look into the seeds of time; And say which grain will grow and which will not.”

In Asia, India launched three warships as a show of force to China in the Indian Ocean, as the US Department of War renamed its Indo-Pacific Command back to the Pacific Command, signalling a de-prioritisation of the area matching Europe re: NATO and the Middle East re: Iran and Israel. In East Asia, where the US is outsourcing its Taiwan-focused efforts to Japan and the Philippines, China says it warned off multiple Japanese ‘provocations’ during its recent aircraft carrier drills.

"Is this a dagger which I see before me?"

In related geoeconomics, China announced it’s targeting US rare earths firms in response to a Pentagon list of Chinese firms: this is largely a symbolic move, but it still underlines the tensions in this area. So does the Nikkei reporting that ‘China minerals control threatens EU rearmament, as bloc seeks new sources’: as we have long warned, even if you can afford a dagger, you can’t make it without rare earths, and Europe still hasn’t secured enough supply. More positively, the aluminium squeeze caused by the closure of Hormuz is being ameliorated by Chinese supply and dark transits from the Middle East.

“If it were done when ’tis done, then ’twere well; It were done quickly.”

In politics, besides Starmerama, another political scandal in Spain, and gridlock in choosing a new PM in Romania, the US Supreme Court looks set for three key rulings ahead:  

Trump v. Slaughter reviews the long-standing precedent that restricts a president from firing heads of independent federal agencies (like the FTC) without "good cause". A ruling for Trump could alter the structure of the US government, allowing presidents to dismiss leaders of independent regulatory and financial institutions at will – including members of the Fed.

Trump vs. Barbara addresses the constitutionality of an executive order restricting birthright citizenship, denying automatic citizenship to children born on US soil if their parents are not US citizens or lawful permanent residents.

Watson v. Republican National Committee revolves around the constitutionality of state laws that allow mail-in ballots to be received and counted after Election Day, as long as they were officially cast or postmarked by that day. Naturally, this would shake up the mid-term, and all subsequent, US elections.

“Two truths are told; As happy prologues to the swelling act; Of th’imperial theme”

Meanwhile in markets, China introduced technical changes to bridge the gap between onshore CNY and offshore CNH in authorising six state-owned banks to conduct CNH transactions in the Shanghai Free Trade Zone as a ‘sand box’ as the PBoC expanded cross-border e-CNY agreements with 26 financial institutions. This isn’t China floating its currency; neither does this work around China’s ever-larger net trade surpluses, where earning CNH is very hard for most counterparties, limits the ability to internationalise CNH via the ‘USD’ method. Yet it speaks to a potential parallel CNH internationalisation where domestic liquidity backs that required offshore while retaining capital controls. With the US is moving ahead with plans for US dollar stablecoins, which have some similar aims, international payment systems, commodity supply chains, defence tech, and AI are going to become a stacked, contested space. Watch it; and what happens in the Middle East, Europe, and Asia. Over time, the FX market will grasp what it means.

“Out, damned spot! Out, I say!”

Markets are going for the easy option on all of the above news for now: Brent oil was at $78 at time of writing; bond yields were lower; and SpaceX looked like it was testing re-entry, having fallen around $600bn from its recent post-IPO peak.

"Methought I heard a voice cry, ‘Sleep no more! Macbeth does murder sleep’." That’s how I feel.

Tyler Durden Tue, 06/23/2026 - 11:55

US stocks fell Tuesday as tech and chip stocks deepened their losses amid a global rout.

Federal investigators concluded a structural failure occurred at two crucial garage column connections below the building's pool deck.

She represents the Bernal Heights, Portola, and Mission neighborhoods.

Norway’s “Viking Row” celebration has taken the internet by storm as the World Cup continues heating up. Now, the celebration has invaded stadiums.

Ring in this deal before someone else beats you to it.

A trip to the knockout round is on the line for La Tri.

The Supreme Court sided with the Trump administration on Tuesday in an immigration case dealing with the government’s power over green card holders.