Markets
White House provides reason to reverse. Market stumbled as investors digested news of tariffs against Canada, Mexico, China. The policies will be available for public inspection Saturday. $IXIC once reaching above +1.0%, dipped to negative. The rest of the world including Germany, France, India, has seen incremental gains throughout the week. Volatility of US equity market was higher than these markets. $AAPL returned the after-market gains of yesterday. $META rose for the 10th consecutive day. $TSLA continues to march after rosy comments from the earnings call.
Headlines
• Trump tariffs on Canada, Mexico and China begin Saturday, White House says
25% tariff on Canada and Mexico, 10% tariff on China in retaliation for the illegal fentanyl that they have sourced.
• DeepSeek’s hardware spend could be as high as $500 million, new report estimates
DeepSeek said the cost was $5.6m. $500m is still great compared to Big tech’s spendings on AI.
• Dow closes 300 points lower Friday as White House says tariffs will start Saturday: Live updates
• Palantir CEO says China’s DeepSeek shows that U.S. needs ‘all-country effort’ in AI
• Key Fed measure shows core inflation at 2.8%, in line with expectations
• Trump Media gifts DJT shares to FBI pick Kash Patel, Linda McMahon and president’s son
$DJT closed $30 per share, putting the gifted sum to $779k
Atlassian services Trello, Jira, and Confluence
• Nasdaq 100 celebrates 40 years: Is crypto the next big driver for gains?
• Why this 50-year-old restaurant chain has a stock that’s smoking Nvidia’s
Chili’s comp grew 31% in 24Q4
• New inflation reading reinforces Fed’s go-slow strategy
2.8% is in line with expectations but far from Fed target 2%.
• Steel, Aluminum Tariffs Will Impact Millions of Tons of Imports
US imported most steel from Canada, Brazil and Mexico last year.
• Traders Load US-Bound Planes With Gold and Silver in Tariff Bet
Gold futures surged since election of Trump. Volumes have exported out of Switzerland, BoE.
• Meta Posts Longest Rally Since 2015 as Wall St Cheers AI Bet
• 2 charts show why markets are skittish about Trump’s tariff policy
Chart 1: Customs duty revenue as a percentage of goods imports.
• Apple earnings top Wall Street forecasts while iPhone, China sales fall short
