Archives 2025

Refinance rates for 30-year loans dropped another 5 basis points Thursday, falling to a 7.04% average. That’s now a four-day retreat of 16 basis points, which reverses last week’s surge and leaves refi rates notably improved vs. a May peak of 7.32%, which was a 10-month high. Today’s average is the lowest reading we’ve seen since early May.

Given that 30-year refi rates sank as low as 6.71% in March, however, today’s rates remain elevated. The current average is also more than a percentage point above last September’s 6.01%—a two-year low.

Many other refi rates saw declines Thursday. The 15-year and 20-year refinance averages shed 5 and 10 basis points, respectively. Meanwhile, jumbo 30-year refi rates subtracted 7 points.

Shares of RH (RH) soared 20% in premarket trading Friday, a day after the high-end home furnishings retailer posted a surprise profit and announced steps to offset the effects of new tariffs.

The company formerly known as Restoration Hardware reported first-quarter adjusted earnings per share of $0.13, while analysts surveyed by Visible Alpha were looking for an adjusted loss of $0.07 per share. Revenue jumped 12% year-over-year to $814.0 million, slightly below estimates.

CEO Gary Friedman wrote in a letter to shareholders that RH was especially pleased with its performance in England and the rest of Europe.

Friedman also said that the company was maintaining its full-year guidance despite “the speculative and uncertain outcome related to tariffs and the macroeconomic environment,” including a weak housing market. Friedman explained that in response, RH was “delaying the launch of the new concept that was planned for the second half of 2025 to the Spring of 2026 when there is more certainty regarding tariffs.” In addition, the company will continue to shift sourcing out of China, and “resourced a significant portion of our upholstered furniture to our own North Carolina factory.”

Friedman noted that because the tariffs have disrupted global shipments and resourcing, it is reducing its revenue outlook by 6 percentage points in the current quarter. However, the company anticipates making that up in the second half of the year. RH sees 2025 revenue up 10% to 13%. 

Shares of RH have lost more than half their value this year entering Friday trading.

Merck (MRK) has received the go-ahead to expand use of its blockbuster cancer drug, Keytruda.

The Food and Drug Administration (FDA) has approved Keytruda’s use for adults with resectable locally advanced head and neck squamous cell carcinoma whose tumors express the protein PD-L1. 

The study’s overall principal investigator, Dr. Ravindra Uppaluri, said the approval “represents a potentially significant shift in how we manage this disease.” Dr. Uppaluri added Keytruda “has been shown to reduce the risk of recurrence, progression, or death by 30%, compared with standard of care adjuvant chemoradiotherapy or radiotherapy alone.”

Merck noted that it’s estimated that in 2025, there will be approximately 72,680 new cases of head and neck cancer diagnosed, and more than 16,680 deaths from the disease.

Keytruda is the company’s best-selling drug, with first-quarter revenue of $7.2 billion, making up nearly half of its total sales.

Entering Friday trading, shares of Merck were down about 18% year-to-date.

U.S. airline shares are dropping Friday in premarket trading after oil prices spiked and flights were disrupted as attacks on Iran’s nuclear program and military leadership sparked worries of a broader Middle East conflict.

Shares of American Airlines (AAL), Delta Air Lines (DAL), United Airlines (UAL), Southwest (LUV), Alaska Air Group (ALK), and JetBlue Airways (JBLU) were down between 3% and 5% in premarket trading Friday. 

According to reports, several Middle East nations had shut their airspace following the attacks. Among them were Iran, Iraq, Israel, Jordan, and Syria, according to Bloomberg.

According to PYOK, a blog that covers the airline industry, Delta Air Lines and United Airlines “abruptly diverted Tel Aviv-bound flights back to the US on Thursday night” after Israel’s attacks.

In late 2023, the European Union finalized its Artificial Intelligence Act, the world’s first comprehensive law governing corporate AI use. The EU AI Act, which takes full effect by August 2026, applies to any company operating in Europe or serving EU consumers, including U.S. tech giants and startups with overseas customers.

As AI usage becomes more embedded across the public and private sectors, Europe’s legislation could pressure American companies to rethink their approach to data privacy, transparency, and human oversight.

Here’s what’s included in Europe’s sweeping regulation, how it might affect U.S.-based business owners, and why it might reshape consumer expectations.

What Does the EU AI Act Do?

The EU AI Act’s main goal is to ensure that companies that develop and use artificial intelligence systems do so safely, ethically, and with respect for consumers’ rights and privacy. It classifies AI tools by risk level and applies different compliance rules accordingly.

• Minimal risk AI systems like AI-powered spam filters and simple video games are largely unregulated. 
• Limited-risk AI systems like chatbots, automated product recommendation systems, and image/video filters and enhancement tools must meet transparency obligations to inform users that they’re interacting with artificial intelligence. 
• High-risk AI systems are those used in applications like credit scoring, critical infrastructure, border control management, worker management, law enforcement, and many activities that determine a person’s access to resources. These systems face strict documentation, testing, and human oversight requirements, which are expected to go into effect in early August 2026.
• Unacceptable risk AI systems have been deemed to threaten people’s rights, safety, or livelihoods and are banned outright within the EU (with some exceptions). Examples include real-time biometric surveillance for law enforcement or categorization based on sensitive attributes, social scoring systems, and any form of “manipulative AI” that impairs decision-making. This ban has been in effect since February 2025.

The Act also includes provisions for “general purpose AI” (GPAI) models like OpenAI’s ChatGPT to comply with certain requirements based on their level of risk. All GPAIs must adhere to the EU’s Copyright Directive (2019) and provide usage instructions, technical documentation, and a summary of the data used to train their models. Additional compliance criteria apply to GPAI models that “present a systemic risk.”

While some Big Tech companies have pushed back on the regulation, the European Commission has indicated it’s open to amending the Act during a planned review.

Why Does the EU AI Act Matter for American Businesses?

The EU AI Act applies to any company operating within or serving consumers in the European Union, regardless of where they’re headquartered. For American organizations with overseas business partners or customers, the Act could mean significant compliance costs and operational changes for big players and startups. Fines can be as high as 7% of global annual revenue if you use a banned AI application, with slightly lower fines for noncompliance or inaccurate reporting.

Yelena Ambartsumian, founder of AMBART LAW, a New York City law firm focused on AI governance and privacy, believes U.S. companies will start to feel the “regulatory heat” when the provisions dealing with high-risk AI systems go into effect next year.

“U.S. companies must ensure their AI systems meet the transparency and documentation standards set by the EU, which includes providing detailed technical documentation and ensuring proper human oversight,” Ambartsumian said. “Failure to comply could result in penalties, market restrictions, and reputational damage.”

Pete Foley, CEO of ModelOp, an AI governance firm for enterprise clients, added, “U.S. companies could stand to receive a wake-up call.”

“They’ll all need to reevaluate their AI governance practices and make sure they align with the EU expectations,” Foley said.

An AI educator, author, and business consultant, Peter Swain, expects the Act’s rollout and enforcement to follow the same path as the General Data Protection Regulation (GDPR).

“The EU AI Act is GDPR for algorithms: If you trade with Europe, its rules ride along,” said Swain. “GDPR already gave us the playbook: early panic, a compliance gold rush, then routine audits. Expect the same curve here.”

Will American Consumers Be Impacted by the EU AI Act?

While American consumers might not be directly impacted by the EU AI Act’s provisions, experts believe users will get accustomed to higher standards of transparency and privacy by design from EU-originating apps and platforms.

Adnan Masood, Ph.D., Chief AI Architect at UST, noted that consumers will gain clearer insight into when algorithms influence decisions, what data is used, and where redress is possible.

“Europe is setting baseline expectations for ethical AI, and the resulting uplift in transparency will spill over to American users as companies unify product experiences across regions,” Masood said.

“Right now, consumers don’t know what they don’t know,” added Swain. “Once Americans taste that transparency, they’ll demand it everywhere, forcing U.S. companies to comply—regulators optional.”

Will the US Adopt Similar Rules?

William O. London, a business attorney and founding partner at Kimura London & White LLP, noted that the U.S. has taken a more sector-specific and state-driven approach to AI regulation. Still, there is growing bipartisan interest in establishing federal AI governance.

While the White House did revise its existing policies on federal AI usage and procurement in April 2025, this is unlikely to lead to a federal regulation resembling the EU AI Act.

“Any U.S. legislation will likely seek to balance innovation with consumer protection, but may be less restrictive to avoid stifling tech development,” said London.

Ambartsumian noted that AI regulation is becoming more intertwined with politics and industry.

“Tech companies have been quite vocal in appealing to the [Trump] administration to exempt them from state laws [on AI],” she said. “The House Energy and Commerce Committee is now evaluating a 10-year moratorium … on state-level laws.”

At the time of writing, only a handful of states have laws on the books regarding AI usage, including Colorado (which is the most similar to the EU AI Act), California, and Tennessee and several others are considering similar pieces of legislation.

While such guidelines can help level the playing field when it comes to AI usage, Foley warns that compliance costs and administrative burdens could strain small businesses’ limited resources, especially if they’re trying to keep up with nuanced state-specific laws around AI. 

“It’s crucial for policymakers to consider scalable compliance solutions and support mechanisms to ensure that small businesses can navigate the evolving regulatory landscape without disproportionate hardship,” Foley added.

Regardless of current or pending AI rules in your state, experts say it’s wise to start preparing for greater AI transparency if compliance becomes mandatory. 

“Smart small businesses should calibrate to the strictest standard—the EU—once, then sell anywhere,” Swain advised. “Create a one‑page ‘Model Safety Data Sheet’ for every AI tool—purpose, data sources, and risk controls. It turns red tape into a trust badge.”

The Bottom Line

The EU AI Act is a bold move toward protecting citizens in an AI-driven world. It may very well become a strict model for the rest of the world, or it may get watered down as industries that rely heavily on artificial intelligence fight against regulatory hurdles. Either way, consumers can expect AI-driven services to become more transparent in Europe and eventually, everywhere else.

​There’s a new meme king-in-the-making, and it’s already cooking up chaos in the crypto swamps. While the mighty Shiba Inu (SHIB) gears up for another round of respectable gains, Little Pepe (LILPEPE) is emerging from the shadows, fresh, fearless, and full of firepower.  With both tokens staring down the barrel of a 10x potential, the real question isn’t if they’ll pump—it’s how hard. And between SHIB’s legacy march and LILPEPE’s zero-tax Layer 2 rocket fuel, only one looks set to smash through the 20x, 30x, even 50x barrier. SHIB may be the top dog, but LILPEPE is the rare frog with wings—and wings, dear degens, are what it takes to fly straight to the moon.

Shiba Inu (SHIB): The Veteran Meme Slayer

There’s no need to introduce Shiba Inu. The original underdog has evolved into a global meme juggernaut, achieving heights that most meme coins can only dream of. Even now, in 2025, SHIB holds a dominant position, with a market cap of around $7.7 billion and nearly 1.5 million wallets. The recent 30% surge in Q2 demonstrates its ability to respond positively to market conditions. Green.

• Strategic token burns and rising institutional interest (including ETF rumors) are working in its favor.

According to analysts, SHIB is expected to trade between $0.00002750 and $0.00009542 by May 2025. That’s respectable—up to 230% gains if you bought the dip. But here’s the rub: when you’ve already hit billions in valuation, another 10x means billions more have to come in. At this point, the potential upside for SHIB appears to be approximately 10 times its current value, and with the right circumstances, it could potentially reach 15 times its current value.

Little Pepe (LILPEPE): The Layer 2 Legend in the Making

Enter Little Pepe (LILPEPE)—the green knight galloping into crypto with meme-powered mayhem and the kind of upside that leaves old-school coins trembling in the charts.

This is not your average frog-themed coin. Built on Ethereum’s foundation and powered by a next-generation Layer 2 chain, LILPEPE is not merely riding the meme wave; it is actively shaping it.

• Zero tax on all transactions
• 100 billion fixed supply
• A presale that’s already crossed $200K in under 24 hours 

You can join the presale now while LILPEPE is priced at $0.001. This is the initial stage of the offering, during which 500 million tokens are available at a significantly reduced price.

Designed to Pump: LILPEPE’s Hyper-Powered Tokenomics

This structure is optimized for high velocity and long-term sustainability—a rare combo in meme coin land. With bots blocked, taxes at zero, and intelligent whales loading up early, LILPEPE is primed for virality.

And let’s not forget the “Pregnancy, Birth, Growth” roadmap, which includes:

• Launchpad support for other meme tokens
   
• Listings on 2 top CEXs at launch
   
• A future listing on the biggest exchange in the world (plans already sorted)

Meme War: SHIB or LILPEPE – Who Wins?

The presale isn’t just open—it’s popping, with over 200,786,076+ LILPEPE tokens sold already. You can ape in now using ETH or USDT via MetaMask or Trust Wallet.

Final Thoughts: One is Stable, the Other is Supercharged

If you’re after steady returns and legacy vibes, SHIB is a decent bet. However, if you’re seeking high-performing multiples, LILPEPE is the ideal choice. You’ve invested in meme coins before. Some were rugged, some rallied. But LILPEPE is different—a meme with its Layer 2, no tax, bot-resistant tech, and CEX listings locked in. Little Pepe stands as the heir to the meme coin throne in a world dominated by recycled frogs and sleepy dog coins, and if the roadmap holds, early investors may see returns exceeding 100 times their investment before the year ends.

Don’t wait until Twitter makes it a trend. Don’t wait until CEXes pump it to the sky.

Join the $LILPEPE presale now—before the frog flies.

For more information about Little Pepe (LILPEPE) visit the links below:

Website: https://littlepepe.com

Whitepaper: https://littlepepe.com/whitepaper.pdf

Telegram: https://t.me/littlepepetoken

Twitter/X: https://x.com/littlepepetoken ​

Disclaimer: The views and opinions presented in this article do not necessarily reflect the views of CoinCheckup. The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets. Past returns do not always guarantee future profits.

Written by the Market Insights Team

Geopolitical tensions to center stage. Israel has launched a major attack on Iran, striking military bases and nuclear sites. Iranian state media reports that three top generals were killed. Tehran responded with drone attacks on Israel. Netanyahu vowed the strikes would continue “as many days as it takes.” Meanwhile, failed U.S.-Iran nuclear talks under the Trump administration have left tensions high. The rising tension has pushed oil prices higher and given the dollar a boost. The VIX index spiked and has risen back above 20.

Double blow to USD: bearish forces at play

Antonio Ruggiero – FX & Macro Strategist

A double hit of disappointing trade news and heightened Fed rate cut expectations fueled a broad-based selloff in the dollar this week. The greenback fell against all G10 currencies, with the Bloomberg Dollar Index sliding as much as 0.8% yesterday – one of its weakest levels in three years. Overnight, the greenback received some support – DXY up 0.4% – as traders moved toward safe-haven demand sparked by heightened tensions in the Middle East.

Soft inflation data has reinforced expectations of further easing. Core CPI rose just 0.1% month-over-month, while PPI remained muted at +0.1% for May, pushing traders to price in additional rate cuts ahead of the Fed’s June 18 meeting.

Despite this, the dollar still holds a yield advantage against its peers, leading some to argue that the sharp decline may be overdone. However, we suspect that recent speculations over the next Fed chair has likely amplified the bearish move. Whether Bessent or another Trump appointee takes the helm, a more dovish stance seems inevitable – reinforcing the case that downward pressure on the dollar could prove more lasting than anticipated.

On the trade front, uncertainty remains high. No concrete news on a US-China deal, while Trump’s new threat of expanding steel tariffs starting June 23 on imported “steel derivative products”, were inevitable contributors to the dollar’s extended decline.

USD/CAD hits lowest since last October

Kevin Ford – FX & Macro Strategist

Wednesday’s soft US CPI data has reset rate expectations, returning them to levels seen at the end of last month, with two rate cuts now projected by year-end. Additionally, the US producer price index inched up 0.1% in May, reflecting subdued inflation with no signs of tariff-driven price shocks. Some sectors showed hints of tariff-related increases, but these were offset by moderate price growth elsewhere, keeping inflation in check. As a result, investors have strengthened bets on a potential Fed rate cut later this year, while analysts shift their focus to the upcoming personal consumption expenditures price index for further inflation signals.

Despite falling yields across the curve, there’s still no clear evidence of economic deterioration, keeping bearish sentiment firmly in control of USD trading across G10 currencies. The Canadian dollar spent most of the week fluctuating within a narrow range of 1.365 to 1.369, but on Thursday, it slipped below 1.365, hitting a new 2025 low of 1.3592. The 1.365 level remains a critical short-term support/resistance, with multiple closes below potentially paving the way for a move toward the 1.36–1.355 range. However, buying interest could emerge around the 1.36 zone, as the pair nears oversold territory based on the Relative Strength Index (RSI), potentially limiting further downside momentum. During Asia-Pacific trading, the USD/CAD rebounded back to 1.365 on fears the Israel-Iran conflict will escalate further.

Meanwhile, bullish sentiment in options markets has eased, reflecting a more cautious outlook. Notably, Canadian pension funds and asset managers, traditionally known for low hedge ratios on U.S. assets, have ramped up hedging activity since late April. Given the sizeable presence of the pension and insurance sector, these moves have had a notable market impact.

Sentiment vs. fundamentals: the euro’s fragile rise

Antonio Ruggiero – FX & Macro Strategist

The euro’s rally gained momentum this week, with EUR/USD comfortably surpassing April’s highs of $1.515 and briefly testing the $1.16 level—its highest since October 2021. However, the pair pared back some of its gains during Asian trading as geopolitical tensions escalated following Israel’s preemptive attack on Iran, amplifying risk-off sentiment.

While the broader trend remains bullish, signs of short-term exhaustion have emerged throughout May, with spot prices falling below shorter-term moving averages. The narrative remains clear: broader US sentiment is dictating euro price action. When positive trade developments emerge, as seen in May with the US negotiations with the EU and China, euro momentum fades. When sentiment deteriorates, as witnessed this week, the currency strengthens.

This latest push higher was amplified by a narrower rate gap favoring the euro, following soft inflation prints from the US. Although rate differentials have played a smaller role in driving EUR/USD recently, their impact was more pronounced this week as dovish Fed expectations combined with a hawkish ECB stance last week.

Meanwhile, Eurozone industrial activity for April, released later today, is expected to have slowed significantly, following a surge in March as producers rushed to adjust ahead of new tariffs. Data from Germany, France, and Spain have already shown signs of weakening momentum, with soft April figures hinting at a broader slowdown across the region. While a weak print is unlikely to have a major impact on the euro, it remains a valuable gauge of overall economic activity, offering insight into whether Lagarde’s recent hawkish stance is justified.

Geopolitical tensions and surging oil prices drag on pound

George Vessey – Lead FX & Macro Strategist

The British pound has weakened across the board, pressured by surging oil prices and plunging risk sentiment amid the Iran-Israel geopolitical flare-up. Sterling’s high beta to risk makes it particularly sensitive to global uncertainty, prompting investors to sell GBP in favour of safe-haven assets like the Japanese yen, Swiss franc, gold, and sovereign bonds. However, the US dollar has also absorbed a significant share of haven flows too, hence the sharp reversal from fresh 3-year highs clocked yesterday.

Beyond geopolitics, GBP/USD’s bullish outlook in the first half of 2025 was supported by stronger-than-expected UK economic performance, but recent data has disappointed. The UK-US economic surprise differential has narrowed, making it harder for GBP/USD to sustain gains above $1.36. If bearish sentiment on the dollar persists, fresh highs for GBP/USD remain possible, but UK domestic growth and fiscal risks could weigh on GBP/EUR until the UK’s economic outlook improves.

Looking ahead, the Bank of England (BoE) is expected to hold rates at 4.25% next week, but money markets have already priced in two additional rate cuts by year-end, following lackluster UK data. This has kept sterling’s gains in check, reinforcing investor caution.

For now, though, geopolitics remains the dominant market driver, with traders hesitant to hold risk assets over the weekend due to uncertainty surrounding further escalation. If oil prices continue soaring, we expect sterling weakness to persist.

Oil up almost 13% over the past 7 days

Table: 7-day currency trends and trading ranges

Key global risk events

Calendar: June 9-13

All times are in ET

Have a question? [email protected]

*The FX rates published are provided by Convera’s Market Insights team for research purposes only. The rates have a unique source and may not align to any live exchange rates quoted on other sites. They are not an indication of actual buy/sell rates, or a financial offer.

U.S. stock futures are dropping and oil futures are jumping following Israel’s attack on Iran’s nuclear facilities and military leadership; Adobe (ADBE) posts better-than-expected fiscal second-quarter results; preliminary consumer sentiment data for June is expected to have risen from May’s reading; Oracle (ORCL) shares are pulling back from all-time highs in premarket trading; and Advanced Micro Devices (AMD) unveils its latest artificial intelligence (AI) chips. Here’s what investors need to know today.

1. US Stock Futures Drop, Oil Spikes on Iran-Israel Conflict

U.S. stock futures are falling and oil prices are spiking Friday as Israel’s attacks on Iran’s nuclear program and military leadership are sparking worries of a broader Middle East conflict and are driving investors into safe-haven assets. Dow Jones Industrial Average and Nasdaq futures are 1% lower, and S&P 500 futures are down 1.2%. Oil prices are jumping more than 8%. Gold is rising roughly 1% to around $3,433 an ounce. The 10-year Treasury yield is little changed at 4.37%. The U.S. dollar, which hit a three-year-low Thursday, is gaining ground against the euro, pound, and yen. Bitcoin (BTCUSD) is falling almost 2% to trade below $105,000.

2. Adobe Reports Better-Than-Expected Results, Lifts Outlook

Adobe (ADBE) delivered better-than-estimated fiscal second-quarter results on record-high sales and raised its full-year revenue and profit projections. However, the Creative Cloud developer’s shares are slipping more than 3% in premarket trading, and Citi analysts called the results “fairly straight down the middle” and noted that “overall AI usage appears to be leveling off.”

3. June Consumer Sentiment Data Due

June consumer sentiment data is due at 10:00 a.m. ET today, and analysts expect an improvement from May’s reading, according to a survey of economists by Dow Jones Newswires and The Wall Street Journal. President Donald Trump’s tariffs will be a key topic in the report, which dropped for four straight months before leveling out in May. The University of Michigan Index of Consumer Sentiment is expected to show a preliminary reading of 54.0, an improvement from the May reading of 52.2.

4. Oracle Stock Edges Lower After Hitting All-Time High

Oracle (ORCL) shares are pulling back slightly in premarket trading after soaring 13% to an all-time high Thursday, a day after the company’s fiscal fourth-quarter results and sales outlook sailed past Wall Street expectations. The enterprise software giant said it expects “dramatically higher” revenue growth this fiscal year, driven by strength in its cloud infrastructure segment, a bullish projection that prompted analysts to increase price targets.

5. AMD Unveils Next-Gen AI Chips

Advanced Micro Devices (AMD) unveiled its next-generation MI400 chips at its “Advancing AI” event Thursday. The chip isn’t expected to launch until 2026, but it already has some high-profile customers, including ChatGPT maker OpenAI. The event also brought the launch of AMD’s Instinct MI350 Series GPUs, which it claims offers four times more computing power than its previous generation. AMD shares, which entered Friday down 2% this year, are 2.5% lower in premarket trading.