The Globalizer

This report covers the initiation of SpaceX, the current state of Physical AI, and updates on aluminum markets and macroeconomic conditions in the U.S., Europe, and Taiwan.

Key Takeaways

• 1.Initiated coverage on SpaceX with a Buy rating and $200 target price.
• 2.Aluminum prices expected to bottom in the coming month and recover late this year.
• 3.U.S. economic outlook shifts toward Fed rate cuts in October following lower inflation and rising unemployment.

Table of Contents

• Otherworldly Potential for SpaceX?
• Bottlenecks Remain for Scaling Physical AI
• Metal Matters: An Existential Moment for the Aluminum Bull Market
• U.S. Machinery: Digging Into a Better Construction Outlook
• Taiwan Electronic Components & Equipment: Riding the Growth Cycle
• European Economics: The Return of Political Risk in Italy
• U.S. Economics Weekly: The Case for Hikes Was Just Revised Away
• This Week's Research @ Citi Podcasts
• Citi Research in the Media

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