Elon Musk Attacks Trump’s Spending Bill, Yet Again – Warns of Interest-Only Government According to ABC News, the Tesla and SpaceX CEO has privately objected to the Trump administration’s proposed rollback of electric vehicle tax credits – a move that could disproportionately harm Tesla.
Trump Slams ‘Too Late’ Powell After ADP Jobs Growth Slows Sharply ADP’s jobs report showed private employers added just 37,000 jobs in May, down from 60,000 in April.
White House Proposes $9B In DOGE-Backed Cuts To Foreign Aid, Public Broadcasters According to a report, $8.3 billion of the cuts will be from foreign aid, and $1.1 billion will be taken away from the Corporation for Public Broadcasting.
Jim Cramer Feels Trump Has 'Single-Handedly' Revived Short-Selling Business But Says 'They Can Lose Big' He said Trump was distorting pretty much everything, especially with his tariffs and his jingoistic approach to the rest of the world.
Nasdaq Futures Dip As Traders Turn Cautious After Tech-Led Rally: Top Strategist Says He’s Bullish On Equities Among the key catalysts for the day is ADP’s private payrolls report for May, which is expected to show job gains of 110,000 compared to 62,000 in April.
Elon Musk Calls Trump-Backed Spending Bill A ‘Disgusting Abomination’ The Tesla and SpaceX CEO claimed the bill would burden American citizens with crushingly unsustainable debt.
‘Big Short’ Investor Steve Eisman ‘Long’ On Market But Flags Trump Tariffs As His ‘One Concern’ The investor believed that Wall Street has underestimated the complexity of the ongoing trade negotiations with China and Europe.
Dow Futures Edge Lower As Global Tensions Spook Investors While Dow Jones futures were down 0.34% at the time of writing, the S&P 500 futures fell 0.48%.
Fed’s Waller Open to ‘Good News’ Rate Cuts Later This Year — If Tariff Pain Stays Contained He said any tariff-induced inflation will not be persistent and that inflation expectations were anchored.
‘Sell In May And Go Away?’ Most Retail Traders Prefer To Stay In The Market Despite Tariff Uncertainties The “sell in May and go away” adage refers to the historical performance of stocks underperforming during the six months from May to October.
Dow Futures Edge Lower As Investors Weigh Fate Of Trump’s Tariffs While Dow Jones futures were down 0.09% at the time of writing, the S&P 500 futures fell 0.15%.
US Corporate Profits See Biggest Drop Since 2020 COVID Crash As Economic Worries Resurface: Retail Traders Are Bearish Bureau of Economic Analysis data also showed that real gross domestic income (GDI) fell 0.2% in the Q1 , in contrast to an increase of 5.2% in Q4.
Nasdaq Futures Slip As Tariff Jitters Return — Strategist Says Lack Of ‘Earnings Collapse’ Is Market’s Saving Grace The spotlight in Friday’s session is likely to be on the April personal income and spending report, which encompasses a key inflation measure.
Powell Meets Trump, Stresses Monetary Policy Decisions Will Be Based On Objective And ‘Non-Political Analysis’ During his meeting with the U.S. President, the Fed Chair emphasized that the direction of monetary policy will depend entirely on incoming economic data and its implications for the outlook.
Trump Administration Nearing Three Trade Deals Despite Tariff Ruling, Says White House Advisor Kevin Hassett Hassett did not disclose which three deals are on the table but stated they were ready for President Trump’s decision as of last week.
US GDP Shrank 0.2% In Q1 As Per Revised Estimate, Confirming Contraction In The Economy Earlier, it was reported that the U.S. economy contracted by 0.3%; the 0.1 percentage point revision reflects an upward revision to investment that was partly offset by a downward revision to consumer spending.
