Iran Walked Away From the Table on Sunday.

Iran Walked Away. Oil Went Up. Dow Futures Went Down.

Tehran’s foreign minister ruled out direct talks with Washington and renewed demands over the Strait of Hormuz — one week after markets had already priced in a deal.

Crude firmed on the news and Dow futures dropped sharply this morning. But the Nasdaq 100 and S&P 500 futures edged higher, which tells you the selling was concentrated in the industrials and energy-sensitive names rather than spread across the market.

That split matters. A week ago the market treated a Hormuz agreement as close to done. It priced the relief, collected the gains, and moved on. Sunday removed the assumption without removing the gains.

Here’s why it lands on your desk: this is the third time since June that oil has moved double digits on a diplomatic headline rather than a supply change. If your energy exposure is sized for news flow instead of barrels, weeks like this are how it gets away from you.

Source: Babypips / Goodreturns

The Default Choice at 73 That Costs the Most

If you’re near or over 73, this matters.

Most retirees take their Required Minimum Distributions (RMDs) the default way.

In cash.

And that’s where the problem starts.

Because taking RMDs the wrong way can mean:

What most retirees don’t realize is that IRS Code 408(m) allows RMDs to be handled differently — in a way that may help protect more of what you’ve earned.

But timing matters.

Once the distribution hits your account, options shrink fast.

We created a free guide explaining:

Because the most expensive mistake…

Is waiting until after the check clears.

Gold, Stocks and Bitcoin All Closed at Records. Together.

All three finished last week above every technical level analysts had drawn. Simultaneously, for the first time.

The S&P broke to fresh all-time highs, up 3.51% on the week. Bank of America now reports investor bullishness at its highest since 2021.

Gold rising alongside them is the odd part. Risk assets and the hedge against risk do not usually rally together — that combination normally means investors want exposure and protection at the same time, which is a nervous kind of confidence.

A market priced for calm has nothing left to gain from good news and plenty to lose from bad. That is the position going into Wednesday’s inflation print.

Source: Babypips / TrendSpider / Bank of America

Four Thousand White Crates Left a Tesla Compound

Dear Reader,

See the man riding on top of this truck?

He didn’t climb up there for a publicity stunt.

He’s sitting on one of Elon Musk’s strange white “crates.”

Nearly 4,000 of them are quietly rolling out of a high-security Tesla compound…

Heading toward Air Force bases, New York City, and even the Hoover Dam.

But here’s the twist:

The crate isn’t carrying Elon’s next great invention.

The crate IS the invention.

Blackstone calls the market surrounding it a $23 trillion opportunity.

And Elon expects this part of Tesla’s business to grow as much as 150% to 200% per year, faster than its car business “by a lot.”

Yet most are still staring at Cybertrucks and robotaxis.

The S&P Hit a Record. The Nasdaq Gained More and Didn’t.

Money moved out of semiconductor and memory names, which had led the market all year.

The Nasdaq rose 5.09% on the week — more than the S&P — yet failed to make a new high, because its strongest engine stopped pulling. The gains came from everything else instead.

July payrolls contracted by 23,000 and revisions stripped another 103,000 from earlier months. September hike odds fell to 44%. Wednesday’s CPI is the first inflation reading into that.

For an index-fund holder this is quietly good: a rally carried by five names is fragile, one that spreads out is sturdier. But the thing driving your returns has changed, and nobody announced it.

Source: TrendSpider / CME FedWatch / BLS

Three Franchises, Twenty Years, One Team

Ever bet on a team that just keeps winning?

Skybound Entertainment is doing it a third time now, and each time the streak gets stronger. Now you can invest.

The Walking Dead became the #1 most watched cable show in US history. Invincible came next, hitting so hard that Prime Video renewed it for Season 6 before Season 5 even aired. Now, Prime Video just greenlit Stillwater, a brand new show from the same team.

Three franchises, three wins, and the momentum keeps building. That’s a track record twenty years in the making.

Own a piece of Skybound while the streak keeps going.

✱