Markets
A sell-off induced weakening of $DXY. As Europe and China make strides and US deemed overvalued, funds are fleeing out of the US. Tech sector got slammed, with $XLK declining 2.8%. The fiscal reform got the $DAX streak going. $HSI continued to climb as Two Sessions span out. Meanwhile, major crypto assets’ inclusion into the federal reserves got $BTC excited. Although Trump’s venture into meme coins and his family’s alleged buying ahead of the news remain controversial.
Headlines
• Stock market today: S&P 500 closes lower as tariff jitters fuel selloff
• Trump says he’s not even looking at stock market, tariffs will make U.S. ‘very strong’
Blames globalists who have been ripping off the US.
• Global bonds sell off as investors react to Trump’s tariffs and a German ‘paradigm shift’
Yields on 10Y bund rose 11bps as expansionary policies fuel inflation outlook and spike preference for stocks.
• U.S. will collapse Iran’s economy by shutting down its oil industry, Treasury secretary says
US pressures Iran’s oil economy and intends to cut them off from the financial system.
• Costco beats quarterly sales estimates on bulk buying surge, misses profit estimates
Costco has extensive operations in Canada, Mexico and China
• Trump Family’s DeFi Project Stocked Up on Crypto Assets Ahead of White House Crypto Summit
• Texas Senate Passes Bitcoin Reserve Bill
Texas will have $BTC on its balance sheet.
