Markets
News of broader, reciprocal tariffs did not weigh on investors, as implementation is set for after April 1. A non-terrible PPI reading also boosted sentiment. $IXIC rose 1.5%, with all sector indices closing in positive territory. Gains were driven primarily by the M7, with $NVDA, $AAPL, and $GOOG each up over 1%. $TSLA surged 5% on news of a $400M armored EV contract and Musk’s mention of plans to stay at DOGE for four months. Yields and $DXY fell on easing inflation concerns. European markets extended their rally.
Headlines
• Producer prices report points to softer Fed inflation measure than feared
Increased by a seasonally adjusted 0.4% in January.
• Arm secures Meta as first customer for ambitious new chip project, FT reports
Arm to launch its own chip this year. It will be a CPU for servers and will be manufactured by foundry.
• Trump unveils slew of reciprocal tariffs on US trading partners
The recommendation by the Commerce Department will be ready by April 1.
• Kennedy’s confirmation in top US health job could boost beef tallow demand
He claims cooking with beef fat is better than using plant based oil.
• Mass firings of federal workers begin as Trump and Musk purge U.S. government
Termination emails were sent to recent hires at the Education Department saying that their employment would not be of public interest.
• Tariffs & Immigration: Trouble ahead for the US consumer, Morgan Stanley warns
• Judge blocks Trump order curbing youth gender transition treatments
• Trump announces upcoming car tariffs and non-monetary tariffs
Says he wants to reestablish fairness
• India’s Modi meets with Tesla, SpaceX CEO Musk in Washington
Starlink license in India is under review
• Coinbase stock jumps on earnings anticipation and S&P 500 inclusion rumor
Climbs 8.5%
