Several Wall Street institutions have stated that the bullish case for the US stock market remains intact, with Goldman Sachs and Citigroup continuing to be optimistic about the outlook.
June 8 — Fueled by stronger-than-expected non-farm payroll data, expectations that the Federal Reserve will raise interest rates this year have climbed sharply, triggering a 4.2% plunge in the Nasdaq last Friday. The semiconductor sector led the sell-off, sparking volatility across global markets. But Wall Street heavyweights including Morgan Stanley and Citigroup frame this pullback as a healthy adjustment, not a signal that the U.S. bull market is ending.
Morgan Stanley’s Chief U.S. Stock Strategist Mike Wilson blames the recent sell-off on outsized gains in semiconductor stocks and overcrowded trading positions in the sector. The Philadelphia Semiconductor Index has rallied nearly 96% year-to-date, a jump that far outpaces historical norms and puts the group firmly in overbought territory. Wilson says the current correction will help cool excess market sentiment, but insists it won’t erode the underlying strength of the U.S. economy or corporate earnings fundamentals.
Wilson cites
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The US House of Representatives focused on cryptocurrency tax reform this week, while the Senate continued to advance the Clarity Act.
As of June 8, while the U.S. Senate continues hammering out details of the Digital Asset Market Clarity Act, the U.S. House of Representatives is shifting its focus to crypto tax reform this week. The House Ways and Means Committee will host a hearing Tuesday, inviting representatives from Fidelity, Coinbase, Coin Center, and New York University to discuss seven digital asset tax proposals.
These proposals split the previously introduced Digital Asset PARITY Act—sponsored by Representatives Max Miller and Steven Horsford—into seven standalone bills covering distinct areas: stablecoin transactions, crypto mining and staking, lending, wash sale rules, charitable giving, and taxpayer information disclosure.
Industry groups including The Digital Chamber, Blockchain Association, and Crypto Council for Innovation back this split, arguing breaking legislation into smaller chunks boosts its passage odds. Still, some industry insiders hold reservations about specific terms within the bills.
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Analysis: The United States is more willing to push for a deal than Iran, as Iran enters a "neither war nor peace" phase
June 8: Discussing the latest developments in the Middle East, Dr. Pineford, a lecturer in international security at King’s College London, observed that as tensions in the Strait of Hormuz stabilize, Iran appears to be gradually entering what analysts call a "neither war nor peace" state.
Pineford noted: "Right now, Iran’s attitude is relatively steady, and they’re in no hurry to return to the negotiating table to push for sanctions relief."
He added that compared to Iran, the U.S. seems far more eager to secure a deal—despite occasional tough remarks from Trump. "There’s a clear contrast in Trump’s messaging," Pineford said. "On one hand, he frequently makes forceful statements about restarting wars, destroying civilizations, and the like; on the other, he tweets that an agreement is within reach."
Meanwhile, when addressing Israeli Prime Minister Netanyahu’s decision-making logic, Pineford pointed out that Netanyahu needs to prove Israel is taking a tough stance against Hez
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Trump denies ever promising to avoid war, CNN fact-check reveals his claim does not align with campaign rhetoric
June 8 — Per CNN, during an appearance on NBC’s *Meet the Press*, former President Donald Trump claimed he “never made any commitments” to avoiding new wars, insisting: “I have not made any commitments.” But CNN’s fact-check team called that a contradiction of the public record, noting Trump repeatedly vowed during his 2024 presidential run that the U.S. would not get dragged into any new conflicts if he won a second term.
CNN’s report highlights several instances where Trump laid out those pledges: At a Pennsylvania rally in August 2024, he declared, “Under Trump, we will no longer have war, no longer have turmoil, we will have prosperity and peace.” He told internet personality Adin Ross in an interview that same period, “We will no longer have war.” He also echoed the exact line — “there will be no more war” — at campaign stops in North Carolina and Wisconsin.
In his 2024 victory speech, Trump doubled down on the promise, pushing back against critics who warned he would spark new
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Bitcoin Weekly Chart Shows Rare Bullish Divergence, Analysts Eyeing $90,000 Target
June 8 — Bitcoin is flashing only its second bullish divergence signal ever on the weekly chart, stoking trader expectations for a major new price surge. Analysts are leaning on historical precedent here: the last identical signal popped right after the 2022 FTX collapse, when Bitcoin rallied from ~$15,500 to roughly $126,200 — a more than 700% gain — leading many to bet BTC could challenge the $90,000 resistance mark this time around.
Technical data backs this up: Bitcoin’s weekly RSI (Relative Strength Index) has bounced back above 34 after dipping into oversold territory, even as the crypto’s price has fallen from $75,800 to sit around $63,000. While BTC has recently notched lower price lows, its momentum indicator has formed higher swing lows — a classic bullish divergence that signals selling pressure is fading fast.
From a technical standpoint, Bitcoin’s first key target is its 50-week moving average, currently clocking in at around $91,800. Right now, BTC is trading near its 2
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