Meme army just sent Wendy’s stock surging 30% in hours
Trump’s Bessent drops jaw-dropping 3% GDP boom forecast for THIS YEAR
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Trump’s Bessent drops jaw-dropping 3% GDP boom forecast for THIS YEAR
Hormuz nightmare ends, oil prices plunge below $70 in minutes
OpenAI just unveiled its super secret Jalapeño AI chip with Broadcom
Congress to force Big Tech to pay for their massive AI grid costs
Kalshi CEO confirms IPO plans, but slams the door on 2026 listing
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Meme army just sent Wendy’s stock surging 30% in hours
Wendy’s shares jumped more than 42% intraday Wednesday with trading halted for volatility after retail investors on Reddit and WallStreetBets embraced the fast-food stock as a potential recovery target despite a new executive hire.
Heavy Short Interest Exposed: Approximately 23% of free float remains sold short according to S3 Partners, raising squeeze potential.
Social Media Ranking Climbs: The stock became second-most discussed on Reddit trading forums in the past 24 hours.
Turnaround Narrative Spreads: WallStreetBets posts urged followers to “save Wendy’s” before it was too late, framing it as a beaten-down brand.
Executive Appointment Catalyst: Hiring of former Potbelly executive Steven Cirulis as CFO and chief strategy officer sparked initial attention.
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Trump’s Bessent just dropped a jaw-dropping 3% GDP boom forecast for this year
Treasury Secretary Scott Bessent voiced confidence Wednesday that the U.S. economy will achieve 3% growth before year-end as the Iran conflict winds down, despite recent sluggish quarters.
Strong Underlying Economy Persists: Bessent highlighted robust fundamentals and noted the economy ran near 4% growth in February before the strikes.
Three Three Three Plan Intact: The administration still targets 3% growth, 3% deficit-to-GDP and 3 million barrels daily oil output increase.
Recent Growth Lagged Sharply: GDP expanded 1.6% in Q1 after just 0.5% in Q4 2025, following full-year 2.1% advance.
Deficit Progress Visible Already: The shortfall stands 9% lower year-over-year at $1.25 trillion through eight months of fiscal 2026.
Hormuz nightmare ends, oil prices plunge below $70 in minutes
U.S. crude futures slid below $70 a barrel Wednesday as tankers resumed transit through the Strait of Hormuz, easing supply fears, while President Trump directed the DOJ to probe alleged gasoline price gouging.
WTI Hits Session Low: West Texas Intermediate touched $69.63, last trading down 4% at $70.22 after falling below $70 for the first time since March.
Brent Crude Falls Further: International benchmark declined 4.2% to $73.83, reaching its lowest level before the February U.S.-Israel strikes on Iran.
Trump Demands Pump Relief: The president posted on Truth Social accusing big oil firms of gouging and ordered immediate DOJ investigation.
Maritime Evacuation Advances: Over 11,000 seafarers will begin exiting via Hormuz under safety guarantees coordinated by the IMO with Iran, Oman and the U.S.
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OpenAI just unveiled its super secret Jalapeño AI chip with Broadcom
OpenAI and Broadcom on Wednesday introduced their first custom silicon chip named Jalapeño for AI inference, designed end-to-end in nine months as the ChatGPT maker pushes to control its full compute stack.
Inference Focused Processor: The new Intelligence Processor targets serving models to users in ChatGPT and will be manufactured by Broadcom.
Deployment Timeline Set: Initial rollout planned by end of 2026 with small prototypes late this year, scaling heavily through 2027 and 2028.
Demand Called Insatiable: OpenAI President Greg Brockman and Broadcom CEO Hock Tan described customer compute needs as exceeding supply for years ahead.
Stack Building Strategy: Move follows OpenAI deals with AWS Trainium, AMD and Cerebras to diversify beyond Nvidia GPUs amid explosive growth.
Congress to force Big Tech to pay for massive AI grid costs
The House Energy and Commerce subpanel begins debate Wednesday on the Ratepayer Protection Act, requiring data center operators such as Amazon, Google and Microsoft to cover power grid upgrades amid voter frustration over rising utility bills.
Large Load Standard Mandated: Utilities must evaluate rules making big customers pay for new generation, transmission and grid upgrades they trigger.
Bipartisan Sponsorship Confirmed: Reps. Gabe Evans of Colorado and Kathy Castor of Florida introduced the measure codifying White House pledge elements.
Tech Giants Signed Pledge: Major builders including Meta and xAI have agreed in principle to fund new electricity production for AI facilities.
Midterm Election Context: Legislation arrives months before voters decide control of Congress with widespread complaints about data center electricity costs.
Treasury to oversee released Iranian frozen assets
Treasury Secretary Scott Bessent confirmed Wednesday that the U.S. will supervise unfrozen Iranian funds via Qatar escrow accounts, directing most spending toward American agricultural and pharmaceutical goods for Iranian civilians.
Qatar Oversight Planned: Initial releases will occur under Treasury officials in Doha to recycle money back into U.S. foodstuffs and medicines.
Iranian Rejection Noted: Tehran officials rejected U.S. dictation on spending, insisting purchases would follow price and quality criteria alone.
Escrow Account Structure: Funds placed in U.S.-controlled accounts with enforcement through banks, sanctions and sanctions pressure.
Domestic Benefit Highlighted: Arrangement positions released money to benefit U.S. farmers, food producers and pharma companies.
Kalshi CEO confirms IPO plans, but slams door on 2026 listing
Prediction market platform Kalshi CEO Tarek Mansour told CNBC Wednesday the company is considering a public debut at its current growth stage but confirmed no IPO will occur in 2026 despite valuation soaring to $22 billion.
Rapid Valuation Growth: Series F round in May lifted valuation from $2 billion at end-2025 to current $22 billion level.
Wall Street Focus Shifts: Platform is enhancing products and rhetoric to attract institutional traders beyond retail users.
Insider Trading Safeguards: Enhanced employer verification, KYC checks and legal actions against violators demonstrate integrity efforts.
Growth Stage Conversation: Mansour noted that for a company with this financial profile and expansion rate, IPO talks naturally arise.
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Cuomo sounds the alarm, Congress is almost out of time on Blockchain bill
Former New York Gov. Andrew Cuomo urged Congress Tuesday to pass the CLARITY Act immediately, warning the government lacks more time while blockchain technology could slash fees and deliver basic banking services directly to working families.
Direct Wallet Access Saves: Consumers deposit currency, make payments with virtually no transaction fees and receive instant transfers via smartphone wallets on the platform.
Global Unbanked Benefit: Billions of people worldwide gain financial services without traditional banks, minimum requirements or intermediaries.
Collaboration Over Competition: Former rivals in finance now recognize blockchain requires partnership with Wall Street compliance for tokenized equities and futures.
Evolution Demands Action: Like SEC creation after 1929 crash, crypto forces regulatory response as businesses already operate and transact daily.
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Hormuz open — oil inder $70 :barrel stock market flying and where is booker the hooker and his klan of morons to day after his silly clownish performance on tv this past Sunday ??
Glad to hear oil prices dropped. When can we see a lower price for gas in the US?