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Good morning.

What a wild weekend.

President Trump’s latest 100% tariff threat to China vaporized $2 trillion in market value last week. But what traders called “Tariff Friday” has already reversed course with a “Don’t worry about china” post from Trump. Anyone else need to file an insurance claim for whiplash?

Big banks are up next to face the music. JPMorgan, Goldman Sachs, Wells Fargo, and Citi report earnings Tuesday, with Bank of America and Morgan Stanley following Wednesday. Analysts expect 6% profit growth, but things could get ugly if there are issues.

Meanwhile, the government shutdown is entering week two, and the data blackout is getting serious. No retail sales, no jobless claims, no import prices. Just radio silence.

More below on who’s bleeding, who’s buying, and which metals might just save your portfolio.

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Market Headlines

Stocks crashed Friday after President Trump's tariff threat wiped $2 trillion from markets in a single day.

  • The S&P 500 plunged 2.7%, the Nasdaq tumbled 3.56%, and the Dow dropped 879 points.

Trump threatened 100% tariffs on China last Friday; markets went down (ETH down 15.23%, S&P down ~3%). Then Sunday he said on Truth Social, “Don’t worry about China, it will all be fine! Highly respected President Xi just had a bad moment.” Now markets are majorly recovering; ETH is up 13.7%, S&P is up ~3% pre-market. Here’s AltIndex’s list of “Tariff Stocks,” tickers that have appeared in headlines again and again and that have seen serious gains since tariffs began in April.

Geopolitical risk has eased as Hamas released the first Israeli hostages under a U.S.-brokered truce, supporting risk-on sentiment overall.

The AI power trade narrative is picking up more and more steam, it seems. If data centers are the new hotness, that means the picks and shovels play is literally just power (as in energy, electricity). We all know the big name plays from chip makers NVDA and AMD to the capital expenditure tech plays like AMZN, MSFT, and GOOGL, but don’t forget the utilities and power providers: names like TSLA, EOSE, IREN, NBIS, and CIFR. See AltIndex’s full (free) list of major data center stock plays here.

Big banks head into earnings week with analysts expecting 6% profit growth. JPMorgan, Goldman Sachs, Wells Fargo, and Citi report Tuesday, followed by Bank of America and Morgan Stanley Wednesday. Investment banking and trading activity has surged for seven straight quarters, with bank stocks outperforming the S&P 500 by at least nine percentage points this year.

We're flying blind on key economic data as the government shutdown enters week two. Missing reports include retail sales, jobless claims, and import prices just as the Fed enters its blackout period this Saturday. Healthcare stocks face the biggest risk if ACA subsidies expire, with UnitedHealth and Humana potentially losing millions of customers if the $1 trillion extension fails.

China's rare earth crackdown sparked a mining stock rally. MP Materials jumped 9% for the week after Beijing tightened export controls on materials critical for EVs and semiconductors. Trilogy Metals exploded 185% on Trump administration investment news, while USA Rare Earth gained 25%. China controls 70% of global supply and over 90% of processing capacity.

The IRS unveiled higher federal tax brackets for 2026 to adjust for inflation. The standard deduction rises to $32,200 for married couples filing jointly and $16,100 for singles. The top 37% rate now kicks in at $640,600 for individuals and $768,700 for married couples. The announcement came one day after the agency said it would furlough nearly half its workforce due to the shutdown.

😱 Fear & Greed Index

  • Remember just a week ago, when this index was sitting in “Greed” at 56? Yeah, this was a weekend to remember.

🤖 AI/Future/Tech News

  • Apple was sued by two neuroscientists who said the company used pirated books to train its Apple Intelligence model.

  • OpenAI allegedly sent police to serve subpoenas to an AI regulation advocate, which critics said was an intimidation tactic.

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🪙 Crypto

  • A record selloff erased $19 billion in leveraged bets within 24 hours, triggered by new China tariffs and thin weekend liquidity.

  • Binance paid $283 million to users after three assets depegged during Friday’s crash, including Ethena’s USDe, which briefly fell to $0.66 before recovering.

  • Ethena’s USDe, the third-largest stablecoin, lost its dollar peg during the rout, dropping 35% before regaining parity.

🤫 Insider Trading

Stock

Who bought/sold?

Trade details

Total amount

Director Brandon Lutnick

Bought 8,973,721 shares @ $9.21

$82,631,818 total

President Michael Sentonas

15,000 shares @ $505.00

$7,575,000 total

📊 IPOs and Earnings

🚚 Market Movers

  • The Trump administration began layoffs of at least 4,100 federal employees across multiple agencies, including 1,446 in Treasury and 1,100 in Health and Human Services.

  • Wolters Kluwer launched “Compliance Intelligence,” an AI-driven platform to help financial institutions manage regulatory obligations.

🎤What you said last time

“very helpful Anything else you can provide on risk assessment including beta would be nice”

🎪 Crowdfunding Showcase: PerVista AI

Florida-based Blackout Coffee Co. just launched a StartEngine crowdfunding campaign to expand its small-batch, patriotic coffee brand nationwide. Founded in 2018 by John Santos with $1,000 and a garage roaster, the company now produces 75,000 pounds of beans a month and ranks #353 on the 2024 Inc. 5000 list. The funds will fuel retail expansion, boost production, and grow its community of supporters, especially veterans, first responders, and law enforcement. From its signature “Brewtal Awakening” blend to freeze-dried instant coffee for on-the-go drinkers, Blackout is brewing more than caffeine. It’s brewing a movement.

🧠 The Missing (Market) Links

  • Baby boomers still swear by in-store perks like free shipping, longer returns, and personal stylists.

  • Japan's ruling coalition collapsed after Komeito ended its partnership with the Liberal Democratic Party, sending the yen whipsawing while pushing Nikkei 225 futures lower.

📜 Quote of the Day

Know what you own, and know why you own it.

📢 We want to hear from you.

We love hearing from you, and we deeply appreciate your feedback.

That’s all for today. Did we miss anything? Smash the reply button to let me know.

Cheers,
Brandon & Blake of Invested Inc

Thumbnail image: OTA Photos, Flickr

The information provided in Stocks & Income is for informational and educational purposes only and should not be construed as financial advice, investment advice, or a recommendation to buy or sell any securities. Stocks & Income is not a registered investment advisor, broker-dealer, or licensed financial planner. Always do your own research and consult with a licensed financial advisor before making any investment decisions. We may hold positions in or receive compensation from the companies or products mentioned. Disclosures will be made where applicable.

Stocks & Income, AltIndex, Finance Wrapped, The Chain, and Future Funders are all owned by Invested, Inc.

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