AlphaScala Daily: PPI at 8:30, NKE insiders buy $2.17M

Good morning.

PPI and jobless claims hit at 8:30, with the ECB rate decision running alongside it, so the morning has real timing risk before the open. Four Nike insiders bought a net $2.17M over the past 30 days, the loudest cluster on yesterday's tape; TSM and SPG also drew multiple buyers. Bitcoin sits at 62,607 (+1.88%) and ETH at 1,650 (+1.69%) after an overnight bid. Gold miner Kinross tops the model alongside CIB and Lilly, and Hegseth's Iran comments pushed oil up 2%. Here's what matters.

Markets

• BTC/USD 62,607.51 ▲ +1.88% (BTC)
• ETH/USD 1,649.61 ▲ +1.69% (ETH)

Today's calendar

• United States: PPI m/m
• United States: Core PPI m/m
• United States: Unemployment Claims
• Eurozone: Monetary Policy Statement
• Eurozone: Main Refinancing Rate

Deal Flow

IPOs / Listings

• For family offices, space investing is about defense and data, not Mars (CNBC) SpaceX IPO this Friday. Family offices that profited told CNBC they focus on infrastructure and defense, not tourism. Patient capital and European sovereignty are key. LMT scores…

Funding Rounds

• Koho Hits Unicorn Status With $130M Series E, Eyes Bank Licence (Betakit) Koho Financial's $130M CAD round values the challenger bank at $1.33B, granting unicorn status as it nears a federal banking licence.

Headline Roundup

Earnings

• Cousins Properties Raises FFO Guidance After Record Leasing Quarter (SA) Cousins Properties raised full-year FFO guidance after a record leasing quarter. The office REIT's Sunbelt portfolio and redevelopment pipeline support the bull case, but macro…
• Penguin Solutions Sees AI Demand Driving High-End Guidance (Benzinga) CEO Kash Shaikh said fiscal 2026 revenue and earnings trend toward high end. CFO Nate Olmstead steps down July 8. Stock closed at $58.52, pre-market up 2.53%.
• Oracle Beats Q4 Estimates; Stock Slips on Cloud Costs (SA) Oracle topped Q4 forecasts with $2.11 EPS and $19.18B revenue. A $40B financing plan for AI data centers weighed on shares. Microsoft Xbox cuts jobs as drone delivery expands.
• Oxford Industries drops ~7% on weak Q2 revenue, EPS outlook (OXM) (SA) Shares fell about 7% after-hours as Oxford Industries reported Q1 results with stable margins but weak Q2 revenue and EPS guidance, citing cautious consumer spending.

Macro

• AI Chip Stocks Whipsaw as Oil Eases, Inflation Data Looms (BL) AI chip stocks MU, MRVL, and AMD whipsawed Tuesday as oil eased and Treasury yields fell. Two inflation reports this week will test whether the shake-out is over or just beginning.

Stocks

• Hoola Health Raises $5M to Expand Paediatric Clinic Network (Inc42) Peak XV's Surge leads $5M round for Hoola Health, a paediatric clinic chain in Bengaluru. The startup plans 30 new clinics across three cities over two years.
• Stellantis Recalls 1.3M Jeeps Over Fire Risk from Steering Cable (Forbes) Stellantis recalled 1.3M Jeeps worldwide over an electrical fault linked to 72 fire incidents. Owners told to park outdoors until repairs are done.
• Oil Jumps 2% as Hegseth Says US Ready to Bomb Iran Facilities (Economictimes) Hegseth says US will strike Iranian facilities if talks fail. Brent crude jumps 2.3% to $87.40. Pentagon deploys carrier group. Iran accelerates enrichment.
• Pool Corp: Cyclical Headwind Tests a Defensive Base (SA) New construction exposure ties Pool Corp to housing data. The next quarterly earnings report will test whether maintenance revenue offsets the cyclical drag.
• APEDA Parks ₹6 Crore in Term Deposits as Non-Basmati Rice Stalls (BL) APEDA's ₹9.66 crore Non-Basmati Rice Development Fund will park surplus above ₹1 crore in term deposits, leaving only ₹5-6 crore for export promotion as Indian rice loses price…
• Saudi Industrial Output Plunges 19% as OPEC+ Cuts Bite (Argaam) Saudi industrial output fell 19.1% in April as oil cuts deepened, while non-oil manufacturing rose 3.1%, data shows.
• Arla's 'Plate of the Nation' flags UK nutrition gap crisis (Retailtimes) Arla's 'Plate of the Nation' report finds millions of Britons missing key nutrients. The dairy co-op calls for industry and government action on reformulation, labeling, and…
• iCapital Scales APAC: Sydney Office, 60+ Staff, Private Market (Finews) iCapital's APAC headcount tops 60 with new Sydney office and expanded Hong Kong, Singapore hubs while wealth managers boost private market allocations.

Crypto

• World Cup Crypto Exposure: AVAX and CHZ Face Tournament Test (Crypto Briefing) FIFA's World Cup 2026 crypto partnerships create direct exposure for AVAX and CHZ. Solana meme tokens add risk. Tournament starts June 11. Donation deadline July 19.
• Securitize CEO Sees Tokenized Stocks Driving RWA Market to $5 Trillion (Blockonomi) Securitize CEO Carlos Domingo predicts tokenized stocks and ETFs, not Treasuries, will push the RWA market from $30 billion to $5 trillion.
• Why Claude Fable 5 Changes the DeFi Risk Equation (BeInCrypto) Anthropic released Claude Fable 5 on June 10, putting the most powerful vulnerability-finding AI in public hands. For unaudited DeFi protocols, the risk just multiplied.
• House Hearing Exposes Split on Speed of Crypto Tax Rules (Cryip) A House hearing on crypto tax reform revealed disagreement over how fast new rules should take effect, leaving firms in limbo on compliance spending and hiring.
• Japan's three megabanks target joint yen stablecoin by March 2027 (Crypto news) MUFG, SMBC and Mizuho plan a joint yen stablecoin by March 2027. The FSA-backed pilot showed the trust structure works. Adoption by corporate clients is the real test.
• Messi hits 911 goals. Crypto has no deal ready this time (Crypto Briefing) Messi's 911th goal passes without a crypto deal. The $20 million Socios playbook from 2022 is dead. Athletes and platforms both pulled back. Next 1,000-goal push likely runs…
• Sharplink (SBET): A Pure ETH Cyclical Play (SA) A Seeking Alpha analyst argues Sharplink offers a purer bet on ETH price cycles than Bitmine, citing founder risk at the latter. No price forecast is attached.
• Cecabank Enters Crypto Custody as Bank Race Widens (Cryptopolitan) Cecabank becomes first B2B custodian under MiCA as Citi, Standard Chartered and US banks pile in. Minnesota law adds pressure. Can its early lead hold?

Forex / Commodities

• US CPI Test Looms Over Cable: GBP/USD Hovers at 1.3390 (Invezz) GBP/USD holds near 1.3390 ahead of May US CPI. The inflation report will dictate the dollar's path and influence risk assets. Release due at 8:30 a.m. ET.
• Metalsource Hits 434 g/t AgEq at Silver Hill, Extends Mineralization (Investorideas) Metalsource Mining (CSE:MSM) reported 434 g/t silver equivalent over 10.64m, including 2.05 kg/t AgEq over 1.52m, extending Silver Hill 315m below surface.
• Pound Edges Higher as Traders Wait on US CPI Print (Invezz) GBP/USD holds near 1.3390 as traders await the US CPI report. A hot print favours the dollar; a soft one opens a run at 1.3450.
• RBI Steps In to Support Rupee via Swaps, Traders Say (The Economic Times) Traders report RBI intervention via dollar-rupee swaps as the rupee tests 87.50. The central bank's move targets NDF maturity pressure. What confirms the intervention and what…
• Rupee Support: RBI Steps In as NDF Contracts Mature (Reuters) The RBI likely intervened via sell-buy swaps as NDF contract maturities drove dollar demand. The swap choice signals smoothing, not a hard floor defense.
• Crude Oil Holds Above 85.40-60 Support; Upside to 102.20 in Play (Orbex) Crude oil remains above the 85.40-60 support zone, with a potential rally to 102.20. Geopolitical risk from Iran-Israel tensions supports the outlook.
• Troilus Hits 19 g/t Gold Near Pit Rim, West Rim Zone Grows (Manilatimes) Troilus hits 19.06 g/t AuEQ over 6.4 metres at surface in West Rim Zone, 200 metres from the reserve pit. The high-grade corridor sits outside the current resource and remains…
• Labrador Gold to Host Mariposa Gold Project Webinar June 17 (Manilatimes) CEO Roger Moss will present the Mariposa project's 2026 exploration plans, including the recently approved Class 1 permit and geological similarities to multi-million-ounce…

Smart Money

• Robert E. Latta (R-OH): PURCHASE FMAO
• Tim Moore (R-NC): PURCHASE T
• Gilbert Cisneros (D-CA): PURCHASE SFTBF
• Tim Walberg (R-MI): SALE FSSL
• Insider cluster: TSM: 10 insiders bought in last 30 days, net $45K (90d)
• Insider cluster: NKE: 4 insiders bought in last 30 days, net $2.17M (90d)
• Insider cluster: SPG: 3 insiders bought in last 30 days, net $139K (90d)

On the Radar

• Alpha Score top: CIB (Grupo Cibest S.A.), Alpha Score 81/100, top of AlphaScala model. Alpha Score of 81 reflects strong overall profile with strong momentum, moderate value, strong quality, strong sentiment.
• Alpha Score top: KGC (KINROSS GOLD CORP), Alpha Score 79/100, top of AlphaScala model. Alpha Score of 79 reflects strong overall profile with strong momentum, strong value, strong quality, moderate sentiment.
• Alpha Score top: LLY (Eli Lilly and Company), Alpha Score 77/100, top of AlphaScala model. Alpha Score of 77 reflects strong overall profile with strong momentum, moderate value, strong quality, moderate sentiment.
• Alpha Score bottom: BJGPY (Beijing Geekplus Technology Co., Ltd./ADR), Alpha Score 0/100, bottom of AlphaScala model
• Alpha Score bottom: AZULQ (AZUL SA), Alpha Score 0/100, bottom of AlphaScala model
• COT extreme: Canadian Dollar (CAD): hedge funds net short 94,111 contracts, 30.8% of open interest
• COT extreme: Swiss Franc (CHF): hedge funds net short 32,909 contracts, 29.5% of open interest
• COT extreme: Mexican Peso (MXN): hedge funds net long 54,657 contracts, 26.8% of open interest

This Week's Briefings

• Forex: Euro and sterling sink as dollar rally broadens; EUR long squeeze, GBP record short test support
• Nasdaq: Nasdaq 100 drops 5.07% on Broadcom guidance crack; NVDA slides 6.2%, AAPL clings to 200-DMA
• Crypto: BTC slides 14% as $700M liquidations meet Iran strikes; ETH drops 19.9%
• Oil: Iran missile strike shoots Brent above $92; Strait of Hormuz risk returns
• Gold: Gold holds near $4,300 as equities slide 2.8%; Emkay targets $5,200 on central bank bid

See you tomorrow before the bell.