Despite the best efforts of Elon Musk and the DOGE team, the US fiscal deficit for 2025 is $1.3 trillion so far, the second highest six-month level on record.
Wall Street pared early morning gains by midday Monday, as investor caution returned despite a temporary easing in U.S.-China trade tensions. While the initial market reaction was positive, especially in tech, enthusiasm faded as the trading session progressed.
U.S. stocks surge after Trump hints at trade progress, easing fears of disruption. S&P 500 up 3%, tech-heavy Nasdaq 100 outperforms. Semiconductors lead sector rally.
We knew the markets probably weren’t going to respond well to the tariffs, but the breadth and depth of them provoked a virtual instant selloff in aftermarket trading yesterday.
