Markets
markets
Luke Kawa

No rain, big gains as coffee prices surge to 27-year high

Bad news for fans of high-quality coffee.

A dearth of rainfall in Brazil is causing commodity analysts and government agencies to curb their estimates for how many coffee beans will be produced and exported in the near term. 

The price of arabica futures — the premium bean compared to the more common robusta grade — has soared to its highest level since May 1997 as its most important growing region in Brazil sees paltry precipitation. Both varieties of bean are up more than 60% this year.

Recent forecasts from the US Foreign Agricultural Service post in Brazil suggest year-end inventories will be at “an exceptionally low level,” according to Colin Fenton, 22V Research’s head of commodities research, who continues to recommend long positions in arabica coffee as well as raw sugar. 

Last week, Nestle said it would keep raising its selling prices in light of this input cost pressure. The likes of Starbucks and Keurig Dr Pepper are also getting squeezed by this boom time for bean prices.

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General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

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markets
J. Edward Moreno

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

Luke Kawa
7/2/26
US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

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7/1/26
Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

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