AlphaScala Daily: TSM cluster buy, gold up, claims at 8:30

Good morning.

Gold is doing the talking this morning, up 1.33% to $4,493 as crypto sells off and the dollar gives a little back. The one hard print on the docket is US jobless claims at 8:30 ET, so positioning ahead of it is light. Underneath, an unusual 10-insider cluster buy at TSM and a fresh round of model leaders in metals and memory give you something to chew on.

Where things stand

Gold leads at $4,493, +1.33%, while Bitcoin slid 2.45% to $62,471 and Ether dropped 3.60% to $1,748, the weaker of the two majors. The dollar is on the back foot: EUR/USD +0.33% to 1.1636, GBP/USD +0.28% to 1.3455, and USD/JPY off 0.16% to 159.84. The crypto move stands out against an otherwise quiet, risk-neutral tape.

What you need to know

• Claims at 8:30 ET is the only high-importance US data; a soft number feeds the dollar-down, gold-up read already in play.
• Bitcoin's 2.45% drop keeps the $73K floor from this week's briefing well out of reach; regulatory headlines around the GENIUS Act vote remain the backdrop.
• Megacap tech is split: Apple rallied 2.9% into WWDC while Microsoft fell 4.2% on an AI pre-release review order. Full briefing
• COT extremes still pin G10 FX: hedge funds net short 34,179 NZD contracts (37.4% of OI) and 35,140 CHF (33.3%), squeeze risk alive on any dollar slip. Full briefing

Today's calendar

• 08:30 ET, US Unemployment Claims (High)

On the radar

• TSM — 10 distinct insiders bought open-market in 30 days, buy/sell ratio 11/0, net $45K. Cluster buys this broad are rare.
• NKE — 4 insiders bought, net $2.17M over 90 days, ratio 4/1.
• KGC — Alpha Score 79/100, strong momentum, value and quality; tracks the gold bid up 1.33% today. HBM tops the model at 80/100.
• MU — Alpha Score 79/100 on strong momentum and quality, memory name leading the model.
• TTD — insiders net +$143.45M bought over 90 days, the heaviest dollar buying on the board.
• GOOGL — Rep. David Taylor (R-OH) disclosed a 5/15 sale of Alphabet, alongside AAPL and K sales and T and HD purchases.

— The AlphaScala desk