Markets bounced back on Thursday as investors digested Nvidiaās earnings and tariff drama.
Ā The Dow added 0.3%Ā yesterday,Ā while the S&P 500 and Nasdaq rose about 0.4% each.
A federal appeals court has already reinstated Trumpās tariffs just one day after a trade court blocked them. But weāre noticing that the dramatic tariff-induced market swings donāt seem as big as before. It appears the market might be getting a bit numb to the extreme shifts in policy. And after all the TACO (āTrump Always Chickens Outā) headlines, Trumpās tone has shifted: āChina HAS TOTALLY VIOLATED ITS AGREEMENT WITH US,ā he posted. āSo much for being Mr. NICE GUY!ā Hereās a breakdown of the current tariff situation.
The SEC has officially dropped its case against crypto exchange Binanceāthe same lawsuit that led to former CEO Changpeng Zhao, aka CZ, stepping down. Itās the latest in a string of cases the agency is walking back under its new, more crypto-friendly leadership. CZ celebrated by clowning former SEC chair Gary Gensler on Twitter.
Trump met with Fed Chair Jerome Powell on Thursday to push for rate cuts. Powell pushed back, stressing the Fedās independenceādespite Trumpās pressure and public name-calling. The President seems convinced lower rates are the key to economic growth (and maybe lower Treasury yields). But what happens if the Fed cutsāand nothing improves?
š± Fear and Greed Index
š§ Make yourself heard
Are markets starting to get numb to the trade war?
AMD announced its Radeon AI PRO R9700 GPU, designed specifically for the Chinese market, following Nvidia's lead in creating export-compliant AI chips.
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āļø Trade Wars
Senator Marco Rubio announced plans to purge visas for Chinese students, particularly those with connections to the Chinese Communist Party.
Canada quietly scaled back its retaliatory tariffs against the US, granting a six-month reprieve for goods used in manufacturing and other key sectors.
The Trump administration severed access for American companies selling semiconductor design software to China and Chinese military end users globally.
šŖ Crypto
This company is becoming the MicroStrategy of Ethereumāand fast.
Two NYPD members were placed on modified duty after alleged links to crypto businessmen accused of kidnapping and torturing an Italian tourist surfaced.
Rippleās recently acquired prime broker, Hidden Road, rolled out cash-settled OTC crypto swaps for institutional investors in the United States.
āØĀ Should You Buy the Magnificent Seven?
The Magnificent Seven got their name for a reasonābut only one of them is worthy of a ābuyā signal right now, according to AltIndex.
You probably already know itās not Tesla (AI Score of 33/100).
Amazon doesnāt seem to be doing too well either (43/100).
Maybe youāve already guessed which one of the seven seems worth buyingābut even if you have, click to see the stock below, and sign up for a free trial to see its AI Score.
Hereās why non-alcoholic beer is about to replace ale as the second-most-popular beer category across the globe.
The Trump administration just added these four essay questions to federal job applications, including bans for AI-based help.
Revised GDP data showed the US economy contracted 0.2% in Q1.
The buy-the-dip payoff in 2025 has been the biggest in over 30 years. The S&P 500 has averaged a 0.36% gain the day after each down session so far.
A new model from Fed economists puts the recession probability at 75% over the next year.
š International Markets
š¦š· Argentina raised $1 billion from its first peso bond sale to foreign investors since the Macri era, offering a 29.5% coupon and a two-year put option.
š¦šŖ Dubaiās stock index fell 0.61% after Fitch warned of a 15% drop in property prices by 2026 due to a planned surge in housing supply.
šøš¦ Saudi Arabiaās TASI index dipped 0.56% as real estate stocks slumped, weighed down by oversupply fears.
šØš³ China launched the Tianwen-2 probeĀ to collect samples from asteroid 2016HO3 and explore comet 311P.
šĀ Recommended Reading
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āDude don't chicken, but he never does anything at the scale he says he will.ā
šĀ Market movers
Meta announced plans to expand its retail footprint with a goal to open more physical stores, aiming to boost hardware sales like VR headsets and smart glasses.
LinkedIn, owned by Microsoft, cut 270 jobs across Bay Area offices. These layoffs followed Microsoftās 6,000 global job cuts announced earlier in May.
Volvo Cars reduced its workforce by about 3,000 positions, or 15% of its office staff, as part of a $1.88 billion cost-saving plan amid tariff uncertainty.
