Good morning.

It’s been a testy start to the week—stocks went nowhere fast yesterday, and in response to Trump slashing his Russia-Ukraine peace deal deadline from 50 days to less than two weeks, Russia’s Foreign Minister said (and we quote): “Go away! Go to hell.”

Trade talks with China began yesterday though, and according to US officials, they seem to be going well. 

On the home front, investment banks’ faith in the market (or at least the S&P 500) has been restored in a surprise turnaround. Even more surprising: Trump said he’ll “miss” Fed Chair Jerome Powell when he goes.

Let’s jump in.

Apparently, the meme stock craze of last week is already old news for the most notorious subreddit in the financial world.

Donuts, jeans memes, and real estate platforms aren’t as hot of a topic anymore ($DNUT, $AEO, and $DOOR aren’t even in the top 20 tickers by mentions)—but there’s a spicy new name at the top. And even if we may not want to touch it with a ten-foot poll, the Reddit traders certainly seem bullish about it.

The 5 most-mentioned stocks on r/WallStreetBets in the past 24 hours:

Mentions are up over 500% for the new #1 stock, meaning this isn’t just a coincidental rise in notoriety—Reddit has something to say about it.

If you see some wild news about this company, we wouldn’t be surprised. See what Reddit’s talking about on AltIndex:

US stocks hit new records Monday with the S&P 500 and Nasdaq reaching fresh all-time highs amid quiet trading as investors prepared for a key week of earnings and economic data.

"We have a good relationship with China," President Trump said as his team began trade talks with the country’s delegates yesterday. "I'd love to see China open up their country." So would most economists—but the bigger question is whether we’ll see another 90-day tariff deadline extension in the short term.

The tea has been spilled—Tea, the app built for dating safety where women can talk anonymously about the men they’ve dated, has experienced a data breach. 72,000 images were stolen (including women’s verification selfies) and 1.1 million private chats have now been exposed.

President Trump said of Jerome Powell yesterday: “He leaves very soon, so it’s one of those things... I’ll miss him greatly. I’ll miss him.” This came after his drop-in visit to the Fed last week, where Trump and Powell had an awkward (but entertaining) verbal tussle on live television.

Belief in the S&P is restored—investment banks’ predictions for the index’s end-of-year price targets have made a massive post-tariff recovery. See them all on one chart here →

Roblox $RBLX ( ▼ 3.07% ) didn’t start out as a children’s game company, but now they do $400 million in sales a year. And in truth, it isn’t just a gaming platform—Roblox is an immersive social media platform, and that has parents (and investors) worried.

Trump is threatening triple-digit tariffs on Russia if Moscow doesn’t back off from Ukraine—but it’s an empty threat; Russia only exported $3.5 billion to the US last year, not nearly enough to be worried about. Trump also cut his Russia-Ukraine peace deal deadline from 50 days to 10-12 because “we just don’t see any progress being made.” In response to the ultimatum, Russian Foreign Minister Sergey Lavrov said, “Russia’s actual response to Trump’s ultimatum will be the same as it has been for the last 500 years to all ultimatums. Go away! Go to hell.”

“Imagine your favorite restaurant adding extra fees to your meal. Would you go back? Reputational damage is not repairable after the tariffs. Jobs are being affected on both sides of the border. In the long run suppliers will move to other buyers, to be safe.”

“Tariffs help to equalize trade from countries that do not enjoy labor competition (i.e., labor unions) in addition to environmental requirements, and other regulatory costs.”

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