📰 Market Headlines

Markets roared back Tuesday on optimism around easing trade tensions with China.

• The Dow jumped 1,000 points, and the S&P 500 and Nasdaq surged 2.5% and 2.7%, respectively.

• A $110 million penthouse just hit the market in Manhattan, despite broader market volatility.

Bitcoin surged yesterday to its highest point since February 25th after Trade optimism fueled a major crypto rally. BTC is up again this morning.

• Other cryptocurrencies like Etherium (> 9%), Solana (> 6%) and Cardano (>9%) have also surged in the past 24 hours.

Treasury Secretary Scott Bessent told investors he expects a “very near” de-escalation in the tariff fight with Beijing, calling the current standoff “unsustainable.” This speech, given at a private JPMorgan Chase event in Washington, led to an immediate rise in the S&P.

President Trump also softened his stance on Powell, leading to optimism about the future: “I have no intention of firing” Fed Chair Powell.

Overall, heading into the open today, there was a tremendous amount of positive news and sentiment, mostly related to progress on getting trade deals done and tariffs reduced to healthier levels. Futures are up significantly across the S&P, Dow and Nasdaq this morning.

Gold futures did drop just over 2% as a result of all this optimism. The US dollar, surprisingly, has not moved much as a result of the updates, as it is effectively flat as of the sending of this email.

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📊 Earnings this week

• Tesla posted a 71% drop in net income and a 9% revenue decline, but shares rose 4%.

• Capital One reported Q1 net income of $1.33 billion, up from $1.20 billion a year ago; shares climbed 1.7%.

• GE Aerospace beat Q1 estimates as shares surged 6%.

• Enphase Energy missed Q1 earnings and revenue estimates, as shares dropped 3.5%.

Market movers

• Meta launched its video-creation app, Edits, worldwide.

• Board game publisher Stonemaier Games planned to join a lawsuit against President Trump.

• The FDA suspended milk quality-control testing for fluid milk and dairy products, citing reduced capacity in its food safety.

• Volvo Trucks North America plans to lay off up to 350 more workers at its Virginia plant.

 📊 Ideas, trends, and analysis

🎤 What you said last time

“Uncle Scrooge, baby!”

📺 What to watch today