FN2 Research

Markets, explained.

Cited, no-noise breakdowns of why stocks move — earnings reactions, macro shifts, and the data behind the headlines.

A space shuttle launches into a dark night sky, illuminated by its engines and shrouded in smoke.

Supply Shock August: SpaceX Lockups, a Biotech Filing Wave, and a Liquidity Drain Collide

 A NASA space shuttle launches with fiery liftoff, ascending into the sky amid plumes of smoke, representing SpaceX's record $75 billion IPO and the aerospace sector's public-market debut.

The Supply Wave Nobody Is Pricing: SpaceX Lockups, the Reg NMS Overhaul, and Tokenized Equities Go Live

 Moody ocean scene with stormy waves and dark clouds over the sea, representing turbulent maritime conditions at critical shipping chokepoints

Three Chokepoints, One Pause: The Multi-Front Energy Stranglehold Reshaping Markets

 Industrial steel pipelines with pressure gauges in an energy facility, representing the critical oil infrastructure at risk from Middle East chokepoint disruptions.

Three Fronts, One Weekend: Oil Chokepoints Close, Rare Earths Weaponized, Tariff Wall Rebuilt

 Large orange LNG carrier ship cruising through calm sea waters on a clear day.

The AI Capex Bill Comes Due as a Dual-Strait Oil Shock Flips the Fed

 Aerial view of Muscat port with a naval ship, cranes, and mountains in Oman.

Oil at $100 Meets the AI Capex Revolt: The FOMC Is the Tiebreaker

 Close-up of a vintage typewriter with PRIVATE EQUITY printed on paper, representing the private secondaries market now competing with public listings.

The Supply Squeeze Beneath the IPO Revival: Lockups, Low Floats, and the Liquidity Mirage

 Golden ceremonial bells hanging against a dark wall, symbolizing the IPO bell-ringing tradition at stock exchanges

SpaceX's Lockup Cliff and the 2026 IPO Pipeline's Reality Check

 Aerial sunset view over a calm coastal bay with distant desert backdrop, evoking a Red Sea coastline

Two-Chokepoint Oil Crisis: Houthi Strikes on Saudi Aramco Compound the Hormuz Squeeze

 Aerial view of a small deserted sea islet in calm blue waters, evoking the strategic waterways of the Red Sea region

Convergent Chokepoints: $100 Oil, 60-Country Tariffs, and Taiwan's Gray-Zone Threshold

 Close-up of a server rack with blue LED lighting in a data center, representing the AI infrastructure buildout now under market scrutiny.

The AI Capex Bill Comes Due: Megacap Earnings, an Oil Shock, and a Fed Decision Collide Next Week

 Cargo ships sailing in open sea with distant vessels on the horizon under a hazy sky

Capex Bill Meets Oil Shock: A Market at Two Inflection Points