Wrap Europe

Rivian's R2 starts at $59.5K, higher than promised. Stock down 22% YTD. Profitability hinges on cost cuts.

China banks shift loans to tech, AI focus. Risks rise with startups' early stage & IP collateral.

Oil hits $100, fueling inflation fears. Zillow drops 6.5%, down 36.7% YTD. Buy opportunity?

Oil hits $100, fueling inflation fears. VFC, OXM, GTN, SHOO, H drop 3-4%. Buy opps?

Asia’s refineries are largely configured for medium-sour Gulf crude, making supply disruptions in the Strait of Hormuz difficult to replace quickly and forcing some refiners to cut runs or seek costly alternative cargoes.

Oil prices surge past $100/bbl on Strait of Hormuz closure; recession risk rises 5% to 25%

Amazon's Prime Day shifts to June, boosting Q2 sales. Competitors like Walmart see 60%+ delivery growth.