Markets & Headlines – 5/7/25

Markets

Headlines and Quotations

CNBC

Trump unveils United Kingdom trade deal, first since ‘reciprocal’ tariff pause

  • 10% baseline tariff is a low number, some will be much higher
  • first 100,000 vehicles imported from U.K. car manufacturers each year are subject to a 10% rate, and any additional vehicles face 25% rates.

Robert Prevost is first American pope: Leo XIV

  • Prevost, 69, chose the papal name Leo XIV.

Palantir now among 10 most valuable U.S. tech companies — its earnings multiple is astronomical

  • Palantir joined the top 10 largest U.S. technology companies by market cap on Thursday.
  • Palantir currently trades for 520 times trailing earnings, almost 200 times forward earnings, and 90 times revenue.

Bitcoin jumps above $100,000 for first time since February

  • Other cryptocurrencies, which have struggled to keep pace with bitcoin this year, rallied. Ether jumped about 18%, while the token tied to Solana gained 10% and dogecoin rose 12%.

Standard Chartered analyst apologizes for $120,000 bitcoin price call, says target ‘may be too low’

  • > Of course

WSJ

EU Targets American Aircraft, Car Parts for Possible Tariffs if Talks Fail

  • The European Commission, the bloc’s executive body, on Thursday released a fresh list of about 95 billion euros worth of American products that it says could face tariffs, equivalent to about $107 billion
  • > Playing Trump 

India Says It Intercepted Missiles and Drones Launched by Pakistan

Reuters

Equities rise with dollar, bond yields on trade optimism after US-UK deal

CNN

Xi and Putin agree to ‘deepen’ China-Russia ties during Moscow talks

Bill Gates announces plan to give ‘virtually all’ his money away and end the Gates Foundation in 20 years

  • the billionaire Microsoft founder says he doesn’t want to wait that long to give away most of his wealth.
  • Gates wants to accelerate the foundation’s work on global health and equity initiatives and hopes the move will set a model for other billionaires, he said in a blog post published Thursday morning.

Did South Korea’s legendary female free divers evolve for a life underwater? Scientists find new evidence

  • uncovered unique genetic differences the Haenyeo have evolved to cope with the physiological stress of free diving
  • “Your blood pressure increases as you dive. Their (Jeju residents’) blood pressure increases less,” Ilardo explained.

Gates Notes

My new deadline: 20 years to give away virtually all my wealth

  • When I first began thinking about how to give away my wealth, I did what I always do when I start a new project: I read a lot of books. I read books about great philanthropists and their foundations to inform my decisions about how exactly to give back. And I read books about global health to help me better understand the problems I wanted to solve.

 

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