Big Tech is back

China accuses US of violating trade deal, Big Tech is back in the driver’s seat, Bessent says US will never default, Trump’s 'TACO' trade is Wall Steet's biggest debate, and Saylor’s Bitcoin buying strategy is ‘exploding’...

Author

Market Briefing
June 02, 2025

Good morning.

The Fast Five → China accuses US of violating trade deal, Big Tech is back in the driver’s seat, Bessent says US will never default, Trump’s 'TACO' trade is Wall Steet's biggest debate, and Saylor’s Bitcoin buying strategy is ‘exploding’…

📌 Robots aren't coming to America in 2025. They are already here. Microsoft's Bill Gates said, "it will be as revolutionary as the PC." Forbes says this could be "a $24 trillion opportunity for investors." (ad)

Calendar: (all times ET) - Full Calendar

  • Today:
    ISM manufacturing, 10:00A
    Construction spending, 10:00A
    Auto sales, TBA

  • Tomorrow:
    Factory orders, 10:00A
    Job openings, 10:00A

Your 5-minute briefing for Monday, June 2:

BEFORE THE OPEN

As of market close 5/30/2025. Bitcoin as of 6/1/2005.

Pre-Market:

US Investor % Bullish Sentiment:
↑ 37.70% for Week of MAY 22 2025

Previous week: 35.93%. Next chart posts Friday (delayed due to Memorial Day).

Market Wrap:

  • Futures fall: S&P -0.53%, Nasdaq -0.68%, Dow -174 pts (-0.41%)

  • China blames US for trade deal breach; talks appear to stall

  • Trump may speak with Xi this week as tensions flare again

  • Trump vows to double steel tariffs to 50% starting Wednesday

  • May gains: Nasdaq +9%, S&P +6%, Dow +4%

  • Friday’s jobs report and tariff impact data in focus this week

EARNINGS

Here’s what we’re watching this week:

This Robot is Coming to 65 Million Americans—

Nvidia's robot breakthrough, unveiled by CEO Jensen Huang at CES, could spark a $24T revolution.

He said the "ChatGPT moment" for robotics is near.

I believe the lives of 65M Americans could be impacted – this year.

And one $7 stock could be the biggest winner.

- a message from Weiss Ratings -

HEADLINES

China accused the US of violating their recent trade deal and vowed to take measures to defend its interests, dimming the prospect of an immediate leadership call that Trump wants to have.

The same technology giants that helped drag the S&P 500 to the brink of a bear market in April are giving the recovery in US equities some legs.

  • US stock futures slip as Wall Street kicks off June after bullish May (more)

  • Bessent says US will never default as Congress faces endgame (more)

  • Trump's tariffs turned 'TACO' trade into Wall Street's biggest debate (more)

  • Global investors suddenly have a new concern: a US ‘revenge tax’ (more)

  • US consumers pulling back spending; inflation slowing for now (more)

  • US labor market shows resilience (more)

  • Fed's Waller still open to cutting interest rates later this year (more)

  • Trump admin prepares to ease rules for big banks (more)

  • US dollar declines as traders assess tariff outlook (more)

  • Morgan Stanley sees dollar falling 9% on slowing US growth bets (more)

  • Oil jumps after OPEC+ sticks to same output hike in July versus June (more)

  • Over 3,000 private credit deals from just 20 analysts raise questions (more)

  • Saylor’s Bitcoin buying strategy is ‘exploding,’ but Wall Street is skeptical (more)

DEALFLOW

M+A | Investments

  • HSBC to close its US business banking unit

  • 23andMe founder aims to restart auction with major corporate backing

  • R1, specializing in healthcare revenue management, received an undisclosed investment from Khosla Ventures

VC

  • Snorkel AI, an AI data development platform, raised $100M in Series D funding

  • Outcomes4Me, an AI-driven patient empowerment platform for cancer care, raised $21Min funding

  • Diakonos Oncology Corp., a clinical-stage biotech company developing next-gen immunotherapies, secured $20M in funding

  • Uplinq, an AI-powered platform automating bookkeeping and tax processes for SMBs, raised $10M in Series A funding

  • Rime, a speech tools company, raised $5.5M in Seed funding

  • Unbound, providing generative AI tools for IT and security teams, raised $4M in funding

  • Tengr.ai closed a $1.2M equity funding round

CRYPTO

  • Saylor’s contrarian bet morphs into crypto gold rush (more)

  • SEC flags concerns on crypto ETFs offering staking rewards (more)

  • NYC comptroller slams Mayor Eric Adams' Bitcoin bond plan as 'fiscally irresponsible' (more)

BULLISH BITES

🚀 The next market Nvidia is positioned to dominate. *  

😣 Good economic news can't catch a break.

🌮 From TACO to FAFO, investors love parodies of Trump acronyms.

🥡 DoorDash CEO Tony Xu is taking on the role of industry consolidator in food delivery.

💎 The world’s most expensive phones.

DAILY SHARES

What did you think of today's Briefing?

Login or Subscribe to participate in polls.

Have a comment or suggestion?
💌 Send us a message

*sponsored message

Disclaimer: Market Briefing© is a news publisher. All statements and expressions herein are the sole opinions of the authors or paid advertisers. The information, tools, and material presented are provided for informational purposes only, are not financial advice, and are not to be used or considered as an offer to buy or sell securities; and the publisher does not guarantee their accuracy or reliability. Please conduct your own research and consult an independent financial adviser before making any investments. Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein. Assets mentioned may be owned by members of the Market Briefing team. 

Reply

or to participate.