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Market Summary

Markets edged higher Friday as investors digested mixed signals on the economy and corporate earnings. The S&P 500 and Nasdaq showed modest gains led by tech stocks, including Nvidia and AI beneficiaries. Volatility remains elevated amid geopolitical tensions and looming U.S. government shutdown risks.

President Trump to meet with top congressional leaders Monday as government shutdown deadline approaches. The meetings involve key bipartisan leaders to discuss possible funding agreements and avert shutdown.

Figure of the Day

£1.5 billion – UK government loan guarantee to support Jaguar Land Rover post-cyberattack

Trump administration escalates deployment of troops to U.S. cities, ordering forces to Portland to protect ICE facilities amid rising tensions and protests.

The United Nations reimposes sanctions on Iran over its nuclear program, increasing international pressure on Tehran for significant non-performance of commitments.

Bullish

FDA Approves Breakthrough Therapy for Advanced Breast Cancer

The FDA has greenlit a new treatment for advanced breast cancer, marking a significant advancement in oncology care.
More on zerohedge.com

Jaguar Land Rover secures £1.5 billion UK government loan guarantee to support recovery after cyberattack forced production halt, aiding supply chain stabilization.

Federal Aviation Administration authorizes Boeing to resume certifying 737 Max and 787 planes, marking a shift after years of restricted self-approval rights.

Bearish

Corporate Profits in Nonfinancial Industries Plunge Amid Downward Revisions

Nonfinancial corporate sectors report the largest profit declines ever, signaling economic headwinds despite strong financial sector performance.
More on wolfstreet.com

Electronic Arts nears a $50 billion buyout deal supported by Silver Lake and Saudi Arabia, planning to go private and reshape gaming industry investments.

Federal health officials warn of listeria contamination in frozen meals sold by Trader Joe’s and Walmart amid linked outbreak, prompting consumer safety alerts.

Regulatory Impact

Trump administration seeks Supreme Court backing to end birthright citizenship interpretations and is imposing new tariff measures on pharmaceuticals, furniture, and heavy trucks.

South Korea and U.S. reach agreement on foreign exchange deal, strengthening economic cooperation amid global currency market dynamics.

A troubling plunge in corporate profits in nonfinancial sectors signals economic challenges amid broad downward earnings revisions, with financial industries rising.

Quote

“We could actually have a pretty big attack on labor supply due to AI advances. It’s a real challenge for policymakers.”

— David Zervos, Jefferies Market Strategist

FDA approves new therapy for advanced breast cancer, offering medical progress in cancer treatment options.

Multiple reports confirm rising drone sightings over Danish military facilities, sparking national security concerns and responses amid tensions with Russia.

Microsoft faces demands from President Trump to dismiss top global affairs executive Lisa Monaco amid ongoing political discord and retribution campaigns.

Trudeau administration requests Supreme Court to uphold limits on birthright citizenship, testing longstanding interpretations of the 14th Amendment.

Cryptocurrency treasury firms and bitcoin miners look to expand as institutional investors and tech giants like Google back debt financing and data center growth.

Stock market analysts adjust ratings amid AI-driven growth; Nvidia and other tech stocks lead gains as investors weigh risks and opportunities.

US revokes visa of Colombia’s president Gustavo Petro after his calls for American soldiers to disobey Trump, escalating diplomatic tensions.

President Trump posts provocative memes firing Fed Chair Jerome Powell amid criticism of central bank’s cautious interest rate policies.

Powerful explosions reported in Ukrainian regions, including Zaporizhzhia, heightening concerns amid ongoing military conflict.

Starbucks announces closure of over 100 North American stores amid restructuring and shifting consumer demands.

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