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00:05Mentre l'oro ha sfondato al ribasso i 4.000 dollari, l'oncia e bitcoin è sceso sotto i 60
00:11.000 dollari,
00:12mentre il biglietto verde si è rafforzato con il venir meno del cosiddetto di basement trade,
00:18a Wall Street c'è una biforcazione in corso. Il Dow a un certo punto ha toccato nuovi massimi,
00:24mentre il Nasdaq soffriva, con dubbi che montano sulle grandi spese dei gruppi tecnologici a favore dei semiconduttori.
00:38La divergenza c'è non solo tra settori, ma anche nel tech.
00:42Micron tocca nuovi record dopo conti e guidance schiaccianti.
00:45Il real take away per memory è che la supply sarà ancora più forte nel 27 e 26.
00:51Apple, protagonista della seduta peggiore dall'aprile 2025, perde il potere sui prezzi nei confronti con i fornitori di memory
00:59chip
00:59e dunque alza quelli di Mac e iFed.
01:10Sullo sfondo, la misura dell'inflazione preferita dalla Fed in linea all'estima è maggio, ma al top di oltre
01:16tre anni,
01:16cosa che complica la politica monetaria americana.
01:26Petrolio è tornato sui minimi pre-guerra con il WTI sotto i 70 dollari al barile,
01:31ma poi scatto in avanti con una nave mercantile colpita a largo dell'Oman,
01:35cosa che complica il traffico nello stretto di Ormuz.
01:44Dopo lo scontro a parole tra il presidente americano e la presidente del Consiglio italiana,
01:49Donald Trump continua a lamentarsi in vista del verticennato di inizio luglio in Turchia.
01:57Queste le storie principali della settimana, bentornati a una nuova puntata di The Floor.
02:15Nessun dorma, questa è la canzone o meglio l'aria della Turandò.
02:32L'opera celebre è resa ancora più famosa da Pavarotti.
02:37L'abbiamo scelta perché non tanto è stata interpretata durante un evento al National Mall a Washington,
02:44utilizzato dal presidente americano un po' come un comizio elettorale in occasione delle celebrazioni del 4 luglio,
02:52quando gli Stati Uniti festeggeranno il 250esimo loro anniversario.
02:58L'abbiamo scelta non solo perché a Wall Street difficile è dormire in questi tempi,
03:04ma perché richiama lo scontro tra Italia e Stati Uniti che è cominciato soprattutto la settimana scorsa.
03:12Ne parliamo dopo.
03:13Dagli mercati invece cominciamo.
03:16We have days where the market is up and it is largely driven by the narrative that we saw out
03:22of Micron, right?
03:23Where we're building, we can't satiate demand, productivity is going up.
03:29And then you have the days where you have the other side of the coin.
03:32And that's, we've had these hyperscalers that have been asset light and IP rich.
03:38And here they are spending money and taking down cash flow and there's a talent war.
03:44And so those two things are competing.
03:46That other rub, which is what is our Fed going to do?
03:49Kevin Warsh is sped up.
03:50We have a market that is pricing in and a dot plot that shows you that the next step is
03:56higher based on inflation.
03:57And so you have all of these binary narratives competing.
04:01There's a lot to digest, not only between markets, between policy, between geographies.
04:08And that's, I think, what you should expect is some fragility and volatility as we have more mega IPOs,
04:16as we have more questions about private credit redemptions and we head into midterm elections.
04:21L'avete sentita Ellie McCartney, la managing director di UBS Align Partners,
04:26che ha riassunto i vari tiri alla fune con cui gli investitori devono fare i conti.
04:32Per esempio, comprare i big tech che un giorno potrebbero decidere di smettere di spendere così tanto in AI
04:40o puntare sui semiconduttori che sono stati oggetto, soprattutto all'inizio della settimana di un sell-off,
04:47cosa che ha portato molti strategisti a dire approfittate dei ribassi.
04:54Puntare sui titoli della vecchia economia o ancora su quelli dell'AI?
05:02Scommettere sul rialzo dei tassi da parte della Federal Reserve?
05:11O su un taglio dei tassi, con l'inflazione vista scendere grazie a un ritorno ipotetico della normalità nello stretto
05:17di Hormuz,
05:18sempre che l'accordo ad interim tra Stati Uniti e Iran-Teng e la situazione sul campo non veda ulteriori
05:23tensioni.
05:36In tutto questo viene meno una strategia di investimento pensata per proteggere i patrimoni
05:40dall'erosione delle valute fiat, dollaro in primis, puntando su beni come oro e bitcoin.
05:46Quella strategia si basava sull'idea che gli Stati Uniti, e non solo,
05:50portassero il loro debito a livelli insostenibili e che la Fed, guidata da un fedele di Trump,
05:55sarebbe corsa in aiuto stampando moneta.
05:58L'oro sarebbe corso, visto che i suoi prezzi sono sostenuti da tassi bassi,
06:02il dollaro sarebbe sceso,
06:04il bitcoin, che storicamente ha una correlazione inversa con il biglietto verde, sarebbe salito.
06:10E invece non solo il neopresidente della Fed, Kevin Walsh, è storicamente un falco.
06:16Tale è suonato nella riunione chiusa il 17 giugno scorso.
06:20We recognize that inflation has been running well ahead
06:24of the Fed's long-stated inflation goal of 2%.
06:28That's been going on for more than five years.
06:33Persistently high prices are a burden for the American people.
06:38But the recent past need not be prologue.
06:41I am pleased to report that members of the FOMC are unambiguous and unanimous.
06:50This committee will deliver price stability.
06:53E così il metallo prezioso mercoledì 24 giugno è sceso sotto i 4.000 dollari per la prima volta da
06:59otto mesi.
06:59La criptovaluta per eccellenza ha rotto a ribasso i 60.000 dollari, toccando i minimi dell'ottobre 2024.
07:05Non a caso gli ETF che ne tengono traccia hanno subito deflussi che non si vedevano da due anni.
07:11Nel caso dell'oro, che a fine gennaio aveva toccato il record di 5.600 dollari l'oncia,
07:16calo da inizio anno del 7% circa, nonostante il conflitto in Medio Oriente.
07:21Per Bitcoin, flessione di oltre il 30% da gennaio.
07:25Fa peggio strategy, l'azienda di Michael Saylor, che di fatto colleziona la valuta digitale,
07:29ha perso più di 40 punti percentuali.
07:32Il tutto mentre il dollar index ha raggiunto massimi di 14 mesi.
07:36Resta da capire se l'inflazione, arrivata al top di oltre tre anni,
07:39con il PC Core salito anno su anno al 3-4% a maggio,
07:43finalmente scenderà con il venir meno degli effetti della guerra.
07:47A quel punto anche Walsh potrebbe essere meno falco.
07:50In lui totale fiducia del segretario al tesoro e del commander in chief.
07:54I think we're going to have a high GDP economy without the traditional inflation seeping in.
08:01We do need to have an open mind on the price or the inflation impact of the Iran conflict.
08:09And let's see what inflation looks like on the other side of this.
08:13And then we have an open mind that the AI boom could up productivity
08:19and the disinflationary get us back down to target.
08:23What I am confident is that Kevin Walsh will do what will take the best path
08:29to satisfy both the inflation mandate and the growth mandate.
08:32And look, he came out tough talking about the inflation.
08:36The president has said both in public and privately that he has every confidence in Kevin Walsh.
08:45That's why he chose him.
08:46I think we might have been growing at four in february.
08:49I think we're going to get back and we can have something with the three in front of it this
08:53year.
08:54As I said, the underlying economy has been strong.
08:56Nel frattempo, sia per Bitcoin, sia per l'oro, in molti dicono che il peggio non è ancora arrivato.
09:02C'è chi addirittura dice che il metallo prezioso è un asset ora rischioso.
09:07La sua media mobile a 50 giorni rischia di scendere sotto quella a 200,
09:11un fenomeno cosiddetto death cross e che tende a essere negativo.
09:15D'altra parte l'ETF con simbolo GLD è in calo da quattro mesi, non accadeva dal 2022.
09:26Dal punto di vista aziendale, la storia della settimana chiama in causa.
09:32Da un lato Micron, dall'altro Apple.
09:34Sono le due facce di una stessa medaglia.
09:37Nella stessa giornata, quella di giovedì 25 giugno,
09:40il primo ha toccato un nuovo record allungando un rally che da inizio anno lo ha visto guadagnare oltre il
09:45300%.
09:46Il secondo ha subito la seduta peggiore dall'aprile 2025.
09:50Micron ha brindato a conti e guidance stratosferici,
09:53arrivando temporaneamente a superare Meta e tallonare Tesla in termini di capitalizzazione.
09:59Apple è stato invece costretto ad annunciare un aumento dei prezzi di Mac, iPad e dispositivi per la casa.
10:05Il produttore di chip ha di fronte a sé una domanda insaziabile,
10:09quello di smartphone, PC e tablet fa i conti con un aumento dei prezzi dei componenti giudicato mai così grande
10:16e così veloce.
10:17Il trend che favorisce Micron e punisce Apple, la scarsità di memory e storage chip,
10:23è visto continuare, tutta colpa del boom di Data Center.
10:26The real takeaway from memory is that supply is going to be even tighter in 27 than 26.
10:33And so because of that, you can actually think about earnings growth in not only 27, but also 28.
10:39And, you know, I think the bulls are thinking about $200 of earnings for Micron next calendar year.
10:44And if that's right, you're talking about a stock trading at five times.
10:47And, you know, I don't think that's the right multiple, you know, peak multiple for a name like Micron.
10:53So I do think there's more upside and, you know, if you look at compute multiples, memory multiples,
10:59there's still significant upside as long as you underwrite, you know, the demand for compute,
11:03you know, not peaking in 28, but, you know, extending into 29, 30 and beyond.
11:08Anche Qualcomm in settimana ha migliorato le sue stime,
11:11mentre OpenAI ha svelato il suo primo chip proprio prodotto con l'aiuto di Broadcom.
11:16Si chiama Yalapeno.
11:18Nel frattempo Apple, il cui titolo ha subito una reazione giudicata eccessivamente negativa da Wedbush,
11:24si prepara al lancio a settembre di un ipotetico iPhone pieghevole.
11:28Anche questo spiega la mossa sui prezzi che il CEO uscente Tim Cook aveva definito inevitabile.
11:46This is the biggest upgrade cycle they've had in five years,
11:50which means that next year there will be less people inclined to just upgrade a similar phone.
11:57And then the third related part to that is that they may be introducing a foldable phone at more than
12:05$2,000.
12:05So these are all reasons to increase prices right now and increase them substantially
12:11so they don't have declining prices next year, so they can handle the memory price increases
12:16and set themselves up to have a foldable iPhone at a very high price point.
12:22La conclusione di questa settimana, l'EiTrade non è affatto scontato, non tutto può sempre salire.
12:28Il costo in aumento delle componenti dà potere sui prezzi a gruppi come Micron,
12:33ma altre aziende sono costrette a scaricare i costi sui consumatori per preservare i margini.
12:37La domanda di infrastrutture AI è indubbiamente forte, ma costruire e consumare AI costerà sempre di più.
12:44Lo spettro che i grandi gruppi tech decidano di spendere di meno.
12:48La cautela sta spingendo OpenAI a pensare di rimandare al 2027, l'IPO, scrive il New York Times.
12:55Il CEO Sam Allman pare volere una valutazione di mille miliardi a tutti i costi.
13:00Quotarsi più velocemente a meno a lui non piace.
13:05E per questa puntata di The Floor torniamo a chiacchierare con il nostro amico J. Wood,
13:10Chief Market Strategist di Freedom Capital Markets.
13:13Welcome back.
13:14Good to be back.
13:14Let's start from the prospect of a peace deal between Iran and the U.S.,
13:21where, of course, all the investors are focused on the Strait of Hormuz,
13:25because the narrative goes, if it reopens, energy prices go down,
13:29inflation goes down, and therefore the work of the Federal Reserve is easier.
13:34Yet, there is a contrarian narrative that says, well, if energy prices go down,
13:40actually that is going to equal to a tax cut, and therefore the demand will be higher and inflation
13:47will be higher.
13:47Yeah, we can argue both ways, but let's focus on the Strait and focus on the Ward first,
13:52because when that first happened, it was over a weekend.
13:55We had a big sell-off in this market, and then once we announced the ceasefire,
14:00the market's been on that uptrend ever since.
14:03And since then, the headlines, the war's on, the war's off, there's a ceasefire,
14:07there's not a ceasefire.
14:08We have a deal or a framework of a deal.
14:10It's been so confusing, but the market has been consistent.
14:14And now we focus on energy prices, oil prices, and they're back to where they were
14:19before this conflict started.
14:20Now, we haven't seen it at the pump.
14:22Hopefully, that comes back, and that gets the inflation side of things,
14:26because gas prices, especially here in the U.S., I drive every day.
14:30I feel it.
14:31It is the biggest tax on the consumer.
14:33We haven't seen them come in, and usually the 4th of July here,
14:37that's where they peak out, and then they start to come in on a seasonal basis.
14:41If we can get a resolution, the strait is finally open,
14:45and we can move on past this conflict,
14:48then the inflation aspect will be great news for the Fed.
14:52And that's what we want to watch.
14:54Kevin Warsh is putting his stamp on things.
14:56It was a very hawkish meeting.
14:58The dot plot was the most telling to me.
15:02I know he didn't...
15:03Why is that?
15:04Yeah, he didn't indicate his fault.
15:06There are only five meetings left.
15:08And so the dots tell you where they think rates will be by the end of this year.
15:14So with five meetings left, nine of the 18 officials that put their dot there
15:18said one rate hike.
15:21Six of those nine said at least one rate hike.
15:23They went two.
15:24One actually went three.
15:25So the Fed, the committee that's voting right now,
15:29is leaning very hawkish.
15:31And now Warsh has been hawkish in the past.
15:34We know he doesn't want to upset the president right away.
15:37The president said all the right things.
15:39But if we can get inflation under control from the gas and the energy prices,
15:45that will be at least maybe no hike.
15:48And we can talk about cutting at the end of the year as we go into 2027.
15:52But to me, it was interesting to see the Fed react to it.
15:56They don't use the word transitory because that's a bad word.
15:59Yeah, we know that.
16:01Nobody wants to use that.
16:02But that's exactly what they're hoping, that this is now behind us.
16:06Gas prices will come down and then inflation will ease.
16:09Now, will it lead to inflation in other aspects as the consumer continues to spend?
16:13Because the consumer's been doing a good job.
16:15We'll see.
16:15But right now, the focus is that the worst could be behind us.
16:20And the Fed may get to say, we're going to pause for a little longer.
16:24And that should bode well for the market.
16:26We're just surprised that he sounded so hawkish.
16:30A little bit.
16:31Because what he did is he stressed the Fed's independence.
16:34And that was one thing he said.
16:35That's good news.
16:36It's great news.
16:36And that's something that Jerome Powell has said.
16:39In fact, Jerome Powell is one of those members of the Fed now,
16:42which is also interesting.
16:44So I think he set the right tone.
16:46And now what he wants to do, we have to watch his five committees
16:50and how they're going to look at the data going forward.
16:52We got TCE data that was positive today.
16:56How will he break it down?
16:57Positive in which sense?
16:58Positive market rallied.
17:00We haven't reached any highs we haven't seen since 2023.
17:05So yeah, the data was in line.
17:07It was in line.
17:08And in line was good news.
17:10It was hot, but not too hot.
17:11And this is where we hope it peaks out.
17:14Because what we watch, we watch trends.
17:16And it's going higher.
17:17But if this is the peak and things start to turn down,
17:21then maybe the worst is behind us.
17:22And that can set us up for the second half of the year.
17:24And the second half of the year may follow a lot of the themes we started to see
17:29in the first half of the year.
17:31So it's going to be interesting to watch the tech trade, the tech build,
17:35and see if these other defensive sectors start to catch a bid in staples and healthcare utilities.
17:42So technology is still going to drive the bus.
17:45But can it take us to new highs to 8,000?
17:48Yes, if we have 100.
17:49That is the big question.
17:51What do you see the S&P at the end of the year then?
17:53Because somebody says that 7,800.
17:56Yeah, I wasn't that high in the beginning of the year.
17:58And I'm looking a little closer.
17:59I was 7,200.
18:00I was thinking we would be more conservative.
18:02It's hard to be conservative now.
18:04We are going to hit a bumpy stretch.
18:06We have that midterm election cycle.
18:08The end of June tends to be a weak time.
18:11We're going through that now.
18:13July has been good, but August, September have been rough.
18:16And as you go into a midterm election and there's angst that we may have some changes in leadership
18:22and that could cause disruption in the markets,
18:24I think we will probably be around this level, 74 to 7,600 over the next few months.
18:30Lots of volatility.
18:32So for the traders out there, this is going to be a fun market.
18:34But overall, I think once we get through the election, we should finish the year strong.
18:39The cycle after midterm elections, that 12-month stretch is usually one of the best 12 months.
18:44And I think we're going to focus on one thing, earnings.
18:47And earnings growth is there.
18:48We saw with Micron today, will it be enough for it to close at all-time highs and take another
18:53leg higher?
18:54Given its run, it may not.
18:55But the earnings story is still going to be there.
18:57And that's what's going to be the tailwind in 2026 to end us out in 2027 to start.
19:02But right now, political uncertainty, seasonal headwinds,
19:06I think it will cause us to digest some of these recent gains before we take the next leg up.
19:12You mentioned Micron, the protagonist from our corporate side of the week with blockbuster earnings and guidance.
19:20A, do you think it's too late to ride this train, given the fact that the stock reached or gained
19:27over 300% since the beginning of the year?
19:29It's been a remarkable run.
19:31I wouldn't chase it today.
19:33I think these pullbacks, we had one just Monday, Tuesday, pull back 20%.
19:37It was in a bear market Monday, Tuesday.
19:39Now, as we take this on a Thursday earnings, it's up 20% from where it was.
19:43It is extremely volatile, but the trend is higher.
19:45If you want to trade it, be careful.
19:48Wait for the dip?
19:50I think it dipped back to some key moving averages.
19:53So I'm a technician.
19:54I look at price action, and it's gotten too overextended.
19:57So what we want is a digestion phase where it stays at these high levels.
20:01So a long-term investor, I still think there's a lot of room to run over the next year or
20:05two.
20:06The demand is there, and we see it in their earnings.
20:10But price action may take a little bit of a pause, and the market will catch up to it as
20:15far as the 50-day moving average.
20:17We're still like 45%, 50% above it.
20:21So time will kind of slow it down, and then we'll take another leg higher.
20:25The question is when.
20:26It reminds me a lot of NVIDIA.
20:28NVIDIA's had stretches where it's gone from nowhere for six months, and then it takes another leg higher.
20:32And in 2023, August of 2023, here on the floor, remember, it had the best earnings ever.
20:39Projections were phenomenal.
20:40It opened high, and then it started to fade.
20:43And it took another three, six months before it broke out.
20:46So Micron may just be doing that, digesting some of these gains.
20:50We'll see how it closes out the day.
20:5212, 13, the old high.
20:54I want to see if it can close above there.
20:55And then maybe, just maybe we get to $1,500.
20:58But it should be a $1,500 stock by the end of the year.
21:00Do you think it's best to trade and bet on semis in general, and memory storage chip in particular,
21:08and not the hyperscaler who are actually spending in those companies?
21:14Well, that is the million-dollar price.
21:15So we are seeing a really big mix when it comes to technology.
21:20The memory stocks, they are crushing it.
21:22We know why.
21:23The earnings growth, tremendous.
21:24The backlog, tremendous.
21:26The semiconductors doing well, but not as well as they used to.
21:30So we see NVIDIA struggling here around $200.
21:33Broadcom struggling.
21:34I think those are the stocks that are giving us the opportunity to buy.
21:37Nothing has changed with NVIDIA.
21:39Nothing has changed with Broadcom.
21:40These are two good names to be in.
21:42It's the software space and the technology that's been beaten down.
21:45Don't worry about stocks like Microsoft.
21:47That, I think, will be fine.
21:49But this $350 level, if we're trading it, watch.
21:52If we break that, it could get the $300 over six to eight weeks.
21:57It could be a washout.
21:58The software story is still one where their earnings have been good.
22:02Oracle has good earnings.
22:03But it can't get momentum behind it.
22:06And I worry about some of the older AI, sorry, the older software and stuff like Adobe.
22:11Adobe still had good earnings.
22:13But they have new leadership.
22:14Oracle has new leadership.
22:16They're trying to put their stamp on things.
22:17And to me, this has a feel of the technology is shifting.
22:23And these old leaders in software, maybe the Kodaks of tomorrow were the Polaroids of tomorrow.
22:30Wow.
22:30So, yeah.
22:31BlackBerry of tomorrow.
22:32Yeah.
22:32The BlackBerry of tomorrow.
22:34The BlackBerry had a little bit of a pop recently.
22:36They changed their history.
22:38That was crazy.
22:40Go ahead.
22:41I know.
22:42I remember, historically, you liking banks.
22:45Mm-hmm.
22:45This week, basically, the major banks passed the stress test.
22:50And they rushed immediately to announce the dividend hikes, buyback plans.
22:56Do you like them?
22:56And which one in particular?
22:58I love the banks.
22:59I love the big banks.
23:00The JP Morgans just made breaking out to new highs.
23:04Citigroup was one of my favorite picks for the year.
23:06I continue to say Citigroup has room to go.
23:09And then the banks that are doing some of the deals in the IPO space, the Goldman's and the Morgan
23:12Stanley's,
23:12there are still a lot of deals to be done.
23:14When we talk about political uncertainty, you're going to see a lot of companies and a lot of M&A
23:18activity probably rush a little bit.
23:21Because if there's a change in Washington leadership, if we go a little more to the left, that could throw
23:27up roadblocks in some of the M&A activity.
23:30So the banking sector looks strong.
23:32The regional banks are just breaking out.
23:34The next-level banks, the PNCs, the fifth-thirds of the world, the key banks, they look good to me
23:40as well.
23:41There are going to be deals to be done.
23:42And right now, I think that is a sector for the second half of the year that will continue to
23:47build on the momentum it's had as we end the second quarter.
23:51To conclude, is there a theme on Wall Street that you think investors should pay more attention to because nobody
23:58is really talking about it?
24:00All right.
24:00Well, I'll jump on the thing with the banks doing deals.
24:03I think there's a lot of deals to be had in the biotech space.
24:06Now, biotech stocks are very tricky because a lot of these companies are tied to one specific drug.
24:11And if that drug fails, they're in trouble.
24:14Biogen, B-I-I-B, is a perfect example of that.
24:17The stock is just breaking out.
24:18It looks phenomenal technically.
24:21But I also know it has an Alzheimer's drug in the works.
24:24And if it doesn't pass stage two, then the stock will collapse.
24:28So it's hard to judge these stocks.
24:30You're judging like you hope that they get the breakthrough on this new drug.
24:35It passes FDA approval.
24:37But right now, there's been a lot of M&A activity there.
24:40And technically, the IBB, which is the ETF that tracks a lot of the biotechs that I follow, like Vertex,
24:47Biogen, B-I-I-B,
24:49really well, and then the picks and shovels, the industrials, the industrials, the XLI, that just broke out as we
24:56go and end the second quarter.
24:58And you look at Caterpillar, who's been the leader.
25:01But now you look at some of the smaller, the generacs, the backup power generators, United Rentals, companies that rent
25:07the trucks and the machinery to do the bill.
25:10The old economy is back.
25:12It's not as exciting to trade sometimes as these tech high flyers.
25:16And then sticking with financials, the insurance sector is doing well.
25:20Travelers, Allstate, MetLife, those three have just broken out.
25:23There's a lot of momentum in insurance as well.
25:25But these aren't going to make headlines.
25:27They're not click-baity topics like, oh, we love insurance stocks.
25:31No one wants to click on that.
25:32They want to hear about the big technology stocks.
25:34But, you know, right now, there's a rotation going on.
25:37And technology, we're seeing rotation within the sector.
25:41And the other sector is really picking up, financials, industrials, and some health care.
25:46So that's where I want to go in the second half of the year.
25:48I forgot to ask you, what is your comment about SpaceX?
25:51Oh, SpaceX?
25:52All right.
25:53You don't know that, Jeff.
25:54I'm going to tell you what I told my father, because this is what everyone wanted to know about.
25:59It's something I believe in long term.
26:01It's very hard to bet against Elon Musk.
26:03I think the valuations are ridiculous.
26:05But I told my father he wanted to buy it.
26:07So he put $1,000.
26:08And I go, put 10%.
26:10All right.
26:11So he bought $1,000 worth of SpaceX instead of $10,000, which is what he wanted to do.
26:15We've seen a lot of volatility.
26:17It's great for the traders out there.
26:19If you're trading, use anchored VWAP averages.
26:21Those are the best way to trade, because it's not enough information.
26:24But I would look for a dip under $1,500.
26:27It's probably going to come back to that $1,35 IPO price.
26:30We've seen a lot of high-flying IPOs rally and then fade.
26:34I think this is going to fade.
26:36Earnings out in August.
26:37Let's see how they do.
26:37We'll see it together.
26:39Thank you, Jay, for your comment.
26:40Thank you.
26:41Ed ora chiudiamo laddove siamo partiti con la canzone della settimana.
26:46Perché la relazione tra Stati Uniti ed Italia continua,
26:49ma lo scontento del presidente Donald Trump resta.
26:53Parola del segretario di Stato Marco Rubio,
26:56che dal Bahrain, dove è andato per vendere l'accordo ad interim tra Stati Uniti ed Iran,
27:03ha di fatto commentato dopo lo scontro a parole tra lo stesso Trump
27:08e la presidente del Consiglio, Giorgia Meloni.
27:11Uno scontro che venerdì scorso aveva portato poi il ministro degli Esteri Antonio Tajani
27:17a cancellare la sua visita a Miami in occasione di un evento previsto poi il 22 giugno,
27:24dove tra l'altro Rubio doveva partecipare,
27:27che includeva 600 aziende tra quelle italiane e statunitensi.
27:33A good relationship with him.
27:34He called me, told me he wasn't going to come to Miami.
27:37I was headed here anyway, so it worked out fine, I guess.
27:41I mean, it was unfortunate that an event like that got interrupted.
27:43I thought they should have still come, but that said,
27:45we had some agreements ready to sign.
27:46We're still going to get them signed soon.
27:48We'll just find a place to do it.
27:50Our relations with Italy continue unimpeded at the, you know,
27:53at every level, military level, other levels.
27:55Obviously, the president's very upset.
27:56You know, he feels like not just Italy, but other countries at a time
27:59in which we were confronting a threat, not just to us,
28:02but more particularly to Europe, many European countries did not step up
28:05and do enough.
28:06They weren't there.
28:07Italy, unfortunately, among that.
28:09And I'm sure those points will come up again during the NATO summit in a couple of weeks.
28:12Le sue parole all'indomani di quelle di Trump durante un incontro allo studio Vale
28:17con il segretario generale della NATO, Mark Root.
28:20Da lui l'ho dato.
28:37Proprio il capo della NATO, ore prima di incontrare Trump alla Casa Bianca,
28:41aveva fatto esplodere un caso politico in Italia, con queste parole alla Fox News
28:46in riferimento alla guerra iniziata il 28 febbraio scorso da USA e Israel contro l'Iran.
28:51And I totally understand the disappointment, but when you take for example Italy,
28:55500 US planes took off from US bases in Italy to support Epic Fury.
29:04So this is massive.
29:05Il ministero italiano della difesa ha subito smentito.
29:08Tutto si è svolto nel rispetto delle procedure previste dagli accordi esistenti.
29:12Quella di Rutte, ha detto il ministro Guido Crosetto,
29:15è una ricostruzione totalmente fallace, frutto di una confusione sulla tipologia dei voli autorizzati.
29:22Il giorno successivo Meloni l'ha tacciata come una entusiastica ricostruzione.
29:26Per lei Rutte ha confuso la tipologia dei voli autorizzati.
29:29Dalla Costa Azzurra, dove ha celebrato il 36esimo vertice intergovernativo Italia-Francia,
29:35con Emmanuel Macron, ha chiarito.
29:37Noi non abbiamo partecipato al conflitto in Iran.
29:39Del resto, se avessimo partecipato al conflitto in Iran, mi perdoni,
29:42ma non si spiegherebbe questa delusione che viene reiterata dal parte del presidente americano,
29:48come lei sa, molto spesso.
29:52Noi abbiamo rispettato i nostri impegni, chiaramente,
29:56cedendo le basi per attività che non erano cinetiche,
29:59ma che erano di natura logistica e tecnica.
30:02E quando si è prospettato, e lo sapete anche questo perché è stato ampiamente scritto,
30:06quando si sono prospettate delle richieste che esulavano da quel perimetro,
30:11noi non abbiamo concesso l'utilizzo, l'autorizzazione, come, ripeto, è ampiamente noto.
30:17Quindi il governo ha fatto esclusivamente quello che ha dichiarato in Parlamento.
30:21Come del resto, lo stesso Mark Rutte ha confermato anche ieri dallo studio ovale.
30:26Il segretario generale, nella sua, diciamo così, entusiastica ricostruzione,
30:32ha messo insieme cose che in realtà sono diverse tra loro,
30:35confondendo la tipologia dei voli autorizzati,
30:38e lui stesso poi ha corretto e puntualizzato.
30:42A rincorare sulla relazione tra USA e Italia,
30:45ci ha pensato l'ambasciatore americano nel nostro paese, Tillman Fertitta.
30:49Le tensioni tra Trump e Meloni? Un intoppo.
30:52La relazione tra i due paesi? Storica.
30:55Da lui, un imprenditore di Casinò,
30:57mezzo endorsement alla Presidente del Consiglio in vista delle elezioni del 2027.
31:02Il suo? Un lavoro eccellente.
31:05Con lei, Italia leader mondiale.
31:07Gli italiani? Molto intelligenti.
31:09continueranno, secondo lui, a prendere le decisioni giuste nella loro leadership.
31:14L'Italia, nel frattempo, ha partecipato il 25 giugno al vertice di Washington
31:18sulla Pax Silica, ospitato dal Dipartimento di Stato,
31:22anticipando la formale adesione del nostro paese all'iniziativa,
31:25pensata per creare catene di approvvigionamento industriali tra paesi affidabili.
31:31In questa occasione, firmato il Joint Statement on AI Opportunity,
31:36con cui l'Italia entra a far parte di un gruppo di paesi,
31:39tra cui Australia, Corea del Sud, Finlandia, Germania, Giappone, Grecia, India,
31:43Regno Unito e Svezia,
31:45che manterranno con gli Stati Uniti una stretta collaborazione sul tema.
31:49A rappresentare il nostro paese, mettendoci la firma,
31:52c'era Armando Varricchio, ex ambasciatore d'Italia negli Stati Uniti
31:55e ora è inviato speciale per l'innovazione e le nuove tecnologie del Ministro degli Affari Esteri.
32:01È la dimostrazione di come, scontri a parte, la diplomazia tricolore continui a lavorare.
32:06Ed è tutto per questa edizione di The Floor, grazie per la vostra attenzione e come sempre, buon tutto.
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