Today's Heads-Up
The Nasdaq futures barely budged overnight, staying locked inside yesterday's range with a negligible dip. But here's what matters: a Fed official just suggested that a single rate cut might not be the circuit breaker inflation bulls are banking on. That's code for "we're not pivoting as aggressively as you thought," which tends to keep tech stocks honest when they're already pricing in a rescue operation from central banks.
On This Day in History
Seven years back, Thomas Cook imploded without warning—a 178-year-old travel empire that suddenly couldn't meet its obligations. Roughly 600,000 tourists found themselves scattered across the globe with worthless vouchers and no way home. It's one of those rare moments when a company's runway just evaporates, a stark reminder that even household names can collapse when their business model stops working.
The Takeaway
Don't mistake a quiet market for a settled one. The Nasdaq's flat close masks real tension underneath—officials are still hawkish, and that matters more than yesterday's 400-point range. Scale accordingly and don't let intraday calm trick you into oversizing.
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