Brent Crude Hits $101, GameStop Wants to Buy eBay, and YouTube's Finance Bros Are Screaming — Here's What Actually Matters

Let's start with the thing that affects your gas tank, your groceries, and basically your entire life: Brent crude closed at $101 a barrel, U.S. gas prices are averaging $4.53/gallon, and Iran still hasn't responded to Trump's peace proposal about the Strait of Hormuz. Global food prices just hit their highest level in over three years, up 2.5% year-over-year. Jeremiah Babe on YouTube is going full bunker mode, while Bloomberg is noting, a bit more calmly, that a U.S.-Iran deal could still happen — Trump's Beijing summit with Xi is also on the calendar, with soybean purchases and tariff truces on the agenda. The macro setup is genuinely messy.

On markets: Fundstrat and TheChartGuys are singing the same slightly anxious tune — the S&P 500 and QQQ are at all-time highs, but breadth is thin. Semis and memory stocks are doing the heavy lifting while healthcare sits at 13-year relative lows versus the index. TheChartGuys put it plainly: this isn't a bubble yet, because real bubbles need everyone at the party, not just the semiconductor table. Meanwhile, former SEC Chair Gary Gensler is back on Bloomberg calling the SEC's quarterly-to-semiannual reporting proposal 'a solution in search of a problem' — and invoking the Nobel Prize-winning 'lemons' theory to explain why less disclosure means lower valuations for everyone.

And then there's $GME, which tried to acquire $EBAY — a company five times its size — using shares it isn't authorized to issue and a 'highly confident' letter from TD Bank. Michael Burry sold his entire GME position immediately. Sometimes the market writes the jokes for you.