SPXL Direxion Daily S&P 500 Bull 3X Shares

#FIRSTLOOK $SPXL S&P Futures: -14.0 10 yr Note: 4.718% +0.012 USD/JPY: 159.70 -0.37 EUR/USD: 1.1601 +0.00015 Europe: FTSE: CLOSED DAX: -0.6% CAC: +0.1% Asia: Hang Seng: -0.1% Shanghai: +0.9% Nikkei: -0.1% Gold (4486.80 -43.10) Silver (67.725 -0.061) Crude (86.36 +2.96) Wall Street is closing the books on August with an uncomfortable one-two punch: renewed US-Iran fighting is sending oil sharply higher while Kevin Warsh's hawkish Jackson Hole message keeps rate pressure firmly in play. S&P futures are holding below water, with rising global yields reinforcing the market's inflation headache. The S&P (Sep) is down about 14 points, trading around 7708. The sellers got busy early, printing the high of 7724 moments after the open. Downside momentum stalled at 7683.75 towards the end of the Asian session. The markets popped back above the key 7700 area and held serve through the European hours, currently trading back towards the upper end of the range.

note: IRAN WAR - The one that Trump claimed he won. $SPXL $USO.X $SPY UPDATE: Treasury Secretary Scott Bessent press conference: Treasury issues "warning shot"; says every bank branch that facilitates Iran must be shut down, or it will be removed from the U.S. dollar system; He expects a "major financial institution" to be sanctioned by the end of this week Mr. Bessent said: The Treasury has begun "Operation Economic Outcast." The Treasury is launching an economic onslaught against Iran's economic connections around the globe. Iran has two choices: complete economic isolation or an opportunity to join the global economy. The U.S. will enforce a "zero leakage" approach to Iran sanctions. U.S. will block any source of revenue that funds the IRGC. President Trump is making phone calls requesting to cut economic ties with Iran; says the U.S. is already seeing results. Every country has a timeline to shut down activities. Every bank branch that facilitates Iran must be shut down, or it will be removed from the U.S. dollar system. This is a sustained campaign to collapse every last option for Iran. If countries doing business with Iran do not respond soon, they will soon face ramifications of their actions. There is not a specific timeline for cutting Iran ties, but the U.S. does not have infinite patience. No country, including China, is exempt from these actions. He expects a "major financial institution" to be sanctioned by the end of this week. The next bond-buying operation is September 9. Treasury believes a "warning shot" is appropriate here.

#firstlook $SPXL Maintain cash reserves at 60% Equity futures point to a lower opening this morning after the major averages finished with modest gains yesterday, supported by broad strength. The market saw some relief in long-dated Treasury yields after the Treasury announced it would increase long-end liquidity buybacks by at least double.