Happy July 4, America What to expect on July 4, 2026 - US Stocks have to be higher, or else: - Bitcoin is more likely to be closer to $10,000 - Gold faces gravity pull back toward $3,000 an ounce - WTI crude oil falls under $50 a barrel - Average gas price is closer to $2 a gallon than above $3 - Copper closer to $4 per pound that above $6 - US T-bond yields closer to 4% than above 5% Year over year to July 4, the S&P 500 total return, gold and copper are all up about 21-25%, despite the metals trading at roughly 2x the volatility of beta. What of the underperforming duds when the tide goes out? Reinforcing bear markets in over supplied sectors, crude oil is about flat YOY, while Bitcoin is down roughly 40% YOY. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/thhnt8kgctfo #Gold #bitcoin #copper #stockmarket @Bloomberg(Mike McGlone)