🐈 Here’s your quick financial market roundup for today!
⚡️ Market Volatility on Debt & Tariff Jitters
US stocks closed mixed:
Dow & S&P 500 slipped, Nasdaq edged up on tech gains. Investors are worried about Trump’s proposed tax cuts, which could add $3.8T to the national deficit (now at $36.2T). Bond yields surged after weak Treasury auctions and a recent Moody’s downgrade of the US credit rating.
⚡️ Trump Threatens Tariffs on EU & Apple
President Trump announced plans for a 50% tariff on EU imports starting June 1 and wants Apple to pay a 25% tariff on iPhones not made in the US. These moves rattled markets, sending Apple shares and futures lower, and adding uncertainty for global investors.
⚡️ Corporate Earnings: Winners & Losers
Intuit shares jumped nearly 9% after strong results and a raised outlook. Deckers Outdoor (Hoka, Ugg) plunged 18% after withholding guidance due to tariff risks. Ross Stores also warned about profitability if tariffs remain high.
Other Highlights
⚡️ US dollar weakens for the first time in five weeks
⚡️ Oil prices down for the fourth straight day
⚡️ Major US banks are exploring a joint stablecoin project
#TrumpTariffs #MarketPullback #ETHMarketWatch #BinancelaunchpoolHuma #DinnerWithTrump
