Tariffs back, for now

Trump tariffs reinstated by appeals court for now, Trump pressed Powell to lower rates in White House meeting, US-China talks ‘a bit stalled’, Eric Trump wants to see some big banks ‘go extinct’, and Anduril and Meta team up to transform XR for the US military...

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Market Briefing
May 30, 2025

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Good morning.

The Fast Five → Trump tariffs reinstated by appeals court for now, Trump pressed Powell to lower rates in White House meeting, US-China talks ‘a bit stalled’, Eric Trump wants to see some big banks ‘go extinct’, and Anduril and Meta team up to transform XR for the US military…

📌 The Greatest "Income Play" of 2025? There’s a little-known company whose work Elon Musk says civilization would "crumble" without--and still trading under $20 a share. Get the full story » (ad)

Calendar: (all times ET) - Full Calendar

  • Today:
    Personal income, 8:30A
    PCE index, 8:30A
    Consumer sentiment, 10:00A

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

Your 5-minute briefing for Friday, May 30:

BEFORE THE OPEN

As of market close 5/29/2025.

Pre-Market:

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

Previous week: 35.93%. Next chart posts Monday.

Market Wrap:

  • Futures dip: Dow -63 pts (-0.1%), S&P -0.2%, Nasdaq -0.3%

  • Thursday gains faded as trade headlines whipsawed markets

  • Gap -14% on weak Q2 outlook; Ulta +8%, Dell +2% post-earnings

  • Trump tariffs briefly halted, then reinstated—more uncertainty

  • May: S&P +6%; Nasdaq +10%; Dow +4%

  • Fed’s PCE inflation gauge due today, could move sentiment

EARNINGS

Nothing watched today. See full calendar here »

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HEADLINES

The ruling offers some hope to a White House facing substantial new restrictions on its effort to rewrite the global trading order.

The meeting, held at Mr. Trump's invitation, comes after the president has repeatedly pressed Mr. Powell to lower the Fed's benchmark rate.

  • Wall Street ends up with Nvidia, appeals court reinstates Trump tariffs (more)

  • US economy shrinks 0.2% on weaker spending, larger trade impact (more)

  • Pending home sales declined 6.3% in April (more)

  • Goldman’s Waldron says bond traders fear debt more than tariffs (more)

  • US-China talks ‘a bit stalled’ and need Trump and Xi to weigh in (more)

  • China's biotech boom leaves US playing catch-up (more)

  • Costco tops earnings and revenue estimates as sales jump 8% (more)

  • Tariffs will cost Gap up to $150 million (more)

  • Tesla targets June 12 launch of robotaxi service in Austin (more)

  • Abercrombie soars over 14% as strong demand drives first-quarter beat (more)

  • Tesla investors ask board to make Musk work full-time (more)

  • Anduril and Meta team up to transform XR for the US military (more)

  • Josh Brown says he’s not sure if Nike can ever turn it around (more)

  • More climate tech projects are dying on the vine (more)

  • Eric Trump would love to see some big banks ‘go extinct’ (more)

DEALFLOW

M+A | Investments

  • Grammarly secures $1 billion from General Catalyst

  • Northrop Grumman invests $50M in Firefly Aerospace

  • Advanced Micro Devices (AMD) acquired Enosemi

VC

  • ClickHouse, Inc., a real-time analytics and data warehousing company, raised $350M in Series C financing

  • David, a brand designing tools to increase muscle and decrease fat, raised $75M in Series A funding

  • Empathy, a loss support and legacy planning technology company, raised $72M in Series C funding

  • Wander, a company combining luxury hotel experiences with private vacation homes, raised $50M in Series B funding

  • Vivodyne, a company developing drug testing on lab-grown 3D human tissues, raised $40M in Series A funding

  • Rillet, an AI-native ERP platform, raised $25M in Series A funding

  • Acclaro Medical, a medical tech company, raised $23M in Series B funding

  • Sequence, a fintech startup, raised $7.5M in funding

  • Atomic Canyon, a developer of AI-powered search and generative AI tools for the nuclear power industry, raised $7M in funding

  • FarmQA, a digital agronomy platform, raised $4M in Seed funding

  • Naoris Protocol, a quantum-resistant blockchain and cybersecurity mesh architecture company, raised $3M in strategic funding

  • REplace, an AI-powered platform streamlining renewable energy and data center development, raised $2.1M in funding

  • DreamPark, a creator of a downloadable mixed reality (XR) theme park, raised $1.1M in Seed funding

  • Accelus, a medical tech company, raised an undisclosed amount in growth equity funding

  • Veyond Metaverse, a provider of a 5D XR real-time communication technology, raised an undisclosed amount in strategic funding

CRYPTO

  • SEC dropping enforcement case against Binance crypto exchange (more)

  • Jack Mallers aims to one-up Michael Saylor with Tether and Cantor’s help (more)

  • Crypto has a structural optimism built to withstand crises (more)

BULLISH BITES

📈 America’s wealthiest are betting on this one stock. *  

🛠 Trump’s steel deal.

🩸 Behind the Curtain: A white-collar bloodbath.

🫠 Google as you know it is slowly dying.

🎙 How a Steve Madden podcast interview went viral — and paid off.

DAILY SHARES

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