Markets
Another week of global equities catching up to the US. The average gain of $FTSE, $CAC 40, $DAX indices was +7.7% for the past month, while $SPX recorded +2.7%. A DeepSeek induced selloff on Monday for Big tech, with $NVDA dropping 17%. US indices saw higher volatility throughout the week. Major firms reported 24Q4 earnings. Where for AI, meeting analyst expectations is the baseline, $MSFT suffered, and $META, $AAPL, $TSLA did alright. A mix of sentiment for Apple exists – stalling iPhone outlook, while still being the king of hardware. Information Technology fell 5%, while Telecommunication Services, Healthcare, Financials, Consumer Staples rose more than 2% each. US treasury yields invariably fell, while dollar gained, potentially due to Trump’s America First policies.
Headlines
• New tariffs on Mexico, Canada and China announced by President Trump
Order was signed on Saturday, and will come into effect on Tuesday.
• Reaction to Trump’s imposition of tariffs on Mexico, Canada, China
American oil companies voices need for tariff exclusion for crude oil.
• Mexican president orders retaliatory tariffs against U.S
• French PM urges ECB to cut rates to boost growth
Contends inflation is back to normal, and the rate-cut is necessary for competition with China and the US. ECB cut rates on Thursday from 3.0% to 2.75%.
• Trump says U.S. carries out airstrikes on Islamic State in Somalia
Trump says Islamic terrorists were in a cave in Somalia
• Crashed US Army Black Hawk unit was responsible for doomsday readiness
The mission was “continuity of government” – a regular, operational training.
• Analysis-Trump’s oil tariffs a boost for European and Asian refiners
• Pump prices set to rise as Trump tariffs hit Canadian, Mexican oil
• Trump’s Pentagon says it will ‘rotate’ out some media from offices
Four media outlets including NYT will be removed their office space in the Pentagon.
• DeepSeek’s hardware spend could be as high as $500 million, new report estimates
Alex Karp also said he doesn’t believe the $5.6 figure on a recent CNBC interview.
• Singapore says U.S. firms should comply with export controls following DeepSeek chip questions
$NVDA spokesperson told CNBC that the chips DeepSeek used were export-compliant.
• Gaza ceasefire sees its smoothest exchange yet of Israeli hostages for Palestinian prisoners
Israeli Prime Minister will meet Trump on the coming Tuesday.
