Happy Wednesday! Markets are on edge… not over what the Fed will do today but over what it might signal going forward. With fresh projections on deck and the economic picture getting murkier, continue reading to see how today’s decision could reshape Wall Street’s outlook.

Also, treasury yields continue to inch higher, rattling markets and raising questions about where stocks can go from here. Is this a red flag or just market noise? Find out what’s driving the latest spike and why it could matter more to your portfolio than you think.

Plus, if you're interested in using an AI scanner to identify major market opportunities, check out this free forecasting class from today’s sponsor.

Note: The U.S. stock market will be closed on Thursday in observance of Juneteenth. As a result, there will be no edition of the newsletter tomorrow. We’ll be back with more market insights and news on Friday.

In Today's Edition

• MARKET RECAP

• FIVE ZINGERS

• MARKET HISTORY

• ONE FOR THE ROAD

FOMC Preview: Here's What To Watch Wednesday

To cut, or not to cut, that is the question.

When it comes to interest rates, the Fed is widely expected to keep rates steady today, but that’s not what has Wall Street holding its breath.

With inflation cooling and the labor market showing subtle signs of strain, investors will be focused on the Fed’s updated economic projections. Will policymakers hint at rate cuts ahead? Or could stubborn inflation, fueled by looming tariff risks, push the Fed into a corner?

The Federal Reserve’s dot plot will reveal more than just dots and numbers; it will outline the Fed’s view of the economy and what to expect in the road ahead. If those expectations shift even slightly, markets could react in a big way. Add in softening job data and lingering uncertainty around trade policy, and this meeting could set the tone for the rest of the year.

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Yesterday: U.S. indexes fell Tuesday as escalating Middle East tensions, including the potential for U.S. involvement in the Israel-Iran conflict, rattled markets. Oil prices surged nearly 4%, while Treasury yields declined and the dollar strengthened amid rising demand for safe-haven assets. Retail sales came in weaker than expected, with May headline sales down 0.9%, though core sales rose 0.4%, signaling steady underlying consumer demand. April sales were revised lower, adding to concerns about consumer momentum. All eyes now turn to the Federal Reserve, which is widely expected to hold interest rates steady today. Markets will be closely watching the updated dot plot and economic projections for clues on the timing and pace of potential rate cuts later this year.

On Our Radar: Analysts will be paying attention to the FOMC interest-rate decision and Fed Chair Powell's press conference for signals on the future path of monetary policy. On the earnings front, all eyes will be on Smith & Wesson Brands (SWBI), which will report results after market close today.

Ad Surge: Shares of Reddit continue to surge on the back of new AI-powered advertising tools. Combined with being included in the Russell indexes and rising prominence in Google’s AI search, read on for the full breakdown about what’s driving all the excitement on Wall Street.

Acquisition: Shares of Verve Therapeutics surged more than 80% after Eli Lilly agreed to acquire the company. Here’s why Wall Street is buzzing about this latest acquisition.

Turbulence Ahead: JetBlue is slashing costs, grounding planes and cutting its flight map amid weak travel demand and sky-high fuel prices. With profits taxiing further out of reach and no clear runway to recovery, discover what’s next for the company and the impact it may have on the airline industry.

Herbs & Hype: Shares of Regencell Bioscience are up 59,000% this year despite having no revenue, no approved products and no patents. The company’s sudden $30 billion valuation has drawn comparisons to meme stock mania. Is this the next biotech revolution, or a house of cards?

Solar Selloff: Renewable energy stocks plummeted Tuesday after the Senate unveiled a tax bill that guts solar and wind incentives by 2028, but extends tax incentives for nuclear energy until 2036. Read on for the full breakdown of the winners and losers.

Trading legend (who’s trained 300,000 investors) reveals the market’s hidden ‘Power Patterns.’ The same ones he’s used in 2025 alone to lock in gains like 105% from Adobe…128% from Progressive…and 150% from Costco in less than two weeks.

On This Day In 2003…

Google launched AdSense, a groundbreaking advertising program that enabled website publishers to display targeted ads relevant to the content of their individual web pages. This innovation allowed publishers to monetize their sites more effectively by matching ads to user interests, while advertisers gained access to highly contextual placements. AdSense quickly became a cornerstone of Google’s advertising ecosystem, fueling the growth of online content creation and transforming digital advertising by driving billions in revenue.

QUOTE OF THE DAY

“The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the person of inferior emotional balance or the get-rich-quick adventurer. They will die poor.”

— Jesse Livermore

Treasury Yields Near 5% After Soft Foreign Demand: A Red Flag For Stocks?

A sudden surge in Treasury yields has reignited investor anxiety, sending ripples through markets and raising fresh concerns about what’s ahead for stocks.

Monday’s jump followed a 20-year bond auction that, while strong on the surface, revealed a cooling appetite from foreign buyers. As the 30-year yield creeps towards the symbolic 5% threshold, investors continue to wonder: how much higher can rates go before equities start to crack?

This isn’t just about numbers on a chart. The 5% yield level has long loomed as a psychological tipping point, and with foreign demand showing signs of strain, the market’s ability to absorb U.S. debt at these levels may be weakening. Yet, in a contrarian twist, some analysts argue that fears around rising yields are overblown, pointing to decades of data where stocks managed to perform well even in high-rate environments.

Where does that leave investors looking for clarity in a market awash with mixed signals? Read on to see if this is just short-term noise, or the start of something bigger.

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