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Reuters

Take Five: It's TACO time​

(Reuters) -Uncertainty from Washington's tariff tactics remains rife, but investors realise that whatever U.S. President Donald Trump threatens doesn't tend to last long before he delays or backs down, meaning recent volatility has ebbed.

This tendency to U-turn, dubbed the TACO trade - "Trump Always Chickens Out" - has caught on but it's also given investors something to bank on so they can focus on upcoming reads on inflation and trade.

Here's a look at what's coming up for world markets from Kevin Buckland in Tokyo, Naomi Rovnick and Amanda Cooper in London and Alden Bentley in New York.

More:

https://www.msn.com/en-us/money/markets/take-five-its-taco-time/ar-AA1GllaB?ocid=socialshare
 

US stocks edge toward records with inflation data, policy progress in focus​

By Lewis Krauskopf

NEW YORK (Reuters) -The U.S. stock rebound has driven key indexes to the cusp of record levels, with fresh economic data and trade and fiscal policy developments set to test whether equities will get an extra push higher in the near term.

A monthly U.S. inflation report headlines the events for markets in the coming week.

Equities have bounced back from a steep fall in April, sparked by concerns about the economic fallout from President Donald Trump's tariff plans. Stocks ended the week on a high note, with the S&P 500 closing on Friday above 6,000 for the first time since late February, buoyed by a monthly U.S. jobs report that calmed worries about the economy.

More:

https://www.msn.com/en-us/money/mar...rogress-in-focus/ar-AA1Gja0y?ocid=socialshare
 

Wall Street Breakfast Podcast: Qualcomm To Acquire Alphawave For $2.4B​

Summary​

  • Qualcomm acquires Alphawave for $2.4B to strengthen its AI chip technology, leveraging Alphawave's SerDes expertise for high-speed data transfer.
  • L'Oréal secures a majority stake in Medik8, expanding its skincare portfolio with a focus on vitamin A-based anti-aging products and omni-channel growth.
  • Metaplanet plans a $5.4B share offering to amass 210,000 Bitcoin by 2027, positioning itself as a hedge against Japan’s economic headwinds.
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From August 2024

wirescreen.ai

The Top Companies Behind the Rare Earth Industry

Rare earth metals are critical to many green energy technologies, including the development of electric vehicles. And for decades, China has played a dominant role in mining, processing and producing them at scale. Beijing has also begun restricting access to them, for trade and diplomatic...
wirescreen.ai wirescreen.ai
 

‘He’s like Iron Man’: Jensen Huang lit up London Tech Week — and we were in the room​

  • Nvidia CEO Jensen Huang received the rockstar treatment at London Tech Week on Monday as he kicked off a big European tour.
  • Floods of people queued up to get into the Olympia auditorium to hear from Huang, who spoke alongside British Prime Minister Keir Starmer.
  • There weren’t any multi-billion dollar investments touted at the event — but the biggest win for Starmer and the U.K. by far was Huang’s lavish praise for the country.
LONDON — Wherever Nvidia CEO Jensen Huang goes, excitement follows — this time, all the way to London Tech Week.

The Nvidia boss — whom Wedbush analyst Daniel Ives dubs the “godfather of AI” — is more like a rockstar these days, given his wide-spanning effect on the AI industry.

“The amount of infrastructure required for AI wouldn’t be possible without that man,” one attendee at London Tech Week said.

“He’s like Iron Man,” the attendee added, referencing the popular Marvel superhero who is a tech billionaire inventor under the name of Tony Stark.

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gcaptain.com

Congress Passes Maritime Security and Cargo Preference Bills to Bolster U.S. Ports and Fleet

The U.S. House of Representatives today passed a package of nine transportation-related bills, including several aimed at enhancing maritime supply chain security, reinforcing the U.S. flag fleet, and cracking down...
gcaptain.com gcaptain.com

gcaptain.com

South Korea’s Hanwha Cleared to Boost Control of U.S. Navy Shipbuilder Austal

Hanwha Group has received clearance from the Committee on Foreign Investment in the United States (CFIUS) to increase its shareholding in Australian shipbuilder Austal Limited up to 100%, marking a...
gcaptain.com gcaptain.com
 

CNBC Daily Open: If U.S.-China talks go well, analysts think the S&P 500 could hit new high​

  • U.S. President Donald Trump’s top trade officials met Chinese counterparts in London on Monday.
  • U.S. stocks edged up Monday, while Europe’s Stoxx 600 index dipped 0.07%.
  • Apple held its Worldwide Developers Conference keynote on Monday, where it announced a redesign to its iOS system called “Liquid Glass.”
  • “The U.K. is in a Goldilocks circumstance,” Nvidia CEO Jensen Huang said Monday.
  • Several events in the days ahead could push the S&P 500 to a new high, according to the JPMorgan trading desk.
Trade negotiators from the U.S. and China have met in London, and talks are expected to continue Tuesday, a source familiar with the situation told CNBC’s Megan Casella.

At the top of the agenda for America appears to be a relaxation of China’s rare earths export curbs, according to a CNBC interview with U.S. National Economic Council Director Kevin Hassett. If China’s actions late last week — when it seemingly gave Western automakers concessions regarding those minerals — are any indication, Beijing could be willing to accede to the U.S. request.

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Exclusive-Hyundai Motor has a rare earths stockpile that can last about a year, source says​

By Heekyong Yang

SEOUL (Reuters) -Hyundai Motor has a rare earths stockpile that can last about a year and it does not expect any near-term impact from global supply chain disruptions caused by China's export curbs, said a person who attended a company investor call.

China's decision in April to restrict exports of a wide range of rare earths and related magnets has tripped up the supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world.

More:

https://www.msn.com/en-us/autos/new...year-source-says/ar-AA1Gpntr?ocid=socialshare
 

Stocks, dollar gain as investors look for US-China trade talk progress​

By Johann M Cherian and Amanda Cooper

SINGAPORE/LONDON (Reuters) -Global stocks and the dollar edged higher on Tuesday as trade talks between the United States and China were set to extend to a second day, giving investors some reason to believe tensions between the world's two largest economies may be easing.

U.S. President Donald Trump put a positive spin on the talks after Monday's session.

Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer were set to meet again in London on Tuesday with their Chinese counterparts.

Any progress in the negotiations is likely to provide relief to markets given that Trump's often-shifting tariff announcements and swings in Sino-U.S. ties have undermined the two economies, disrupted supply chains and threaten to hobble global growth.

More:

https://www.msn.com/en-us/money/mar...de-talk-progress/ar-AA1GqbLd?ocid=socialshare
 

China, U.S. officials reach agreement for allowing rare-earth, tech trade. Now it’s up to Trump and Xi​

  • The U.S. and China have reached consensus on trade, representatives from both sides said after high-level talks in London.
  • The negotiators will now seek approval on the framework from the U.S. and Chinese presidents, before implementing it.
  • The talks follow a breakthrough trade agreement reached in mid-May that paused new tariffs for 90 days.
The U.S. and China have reached an agreement on trade, representatives from both sides said after a second day of high-level talks in London, with the deal now awaiting a nod from the leaders of the two countries.

“We have reached a framework to implement the Geneva consensus and the call between the two presidents,” U.S. Commerce Secretary Howard Lutnick told reporters.

That echoed comments to reporters from Li Chenggang, China’s international trade representative and a vice minister at China’s Commerce Ministry.

More:

 
searcher said:
^^^^^^^^
Here's the interview Mario talks about in the post above.

Bessent: We're In The Middle Of A Bretton Woods Realignment, "I'd Like To Be Part Of It"​


Scott Bessent, President-elect Donald Trump's nominee for Secretary of the Treasury, in an interview on the 'Capital Allocators with Ted Seides' podcast before the election declared we are in the middle of a Bretton Woods realignment.

Click to expand...

 
searcher said:
Federal prosecutors want Nikola Corp. founder Trevor Milton sentenced to 11 years in prison for inflating the price of the electric truck maker’s stock to enrich himself.

The proposed sentence is in line with a presentence investigation report. But it fell well below the 60 years in prison called for based on calculations of the seriousness of Milton’s crimes. The government is also seeking a $5 million fine, forfeiture of a ranch in Utah that was subject of one of three fraud convictions, and an undetermined amount of restitution to investors to be determined after Monday’s scheduled sentencing n U.S. District Court in Manhattan, New York.

Milton, 41, was convicted of one count of securities fraud and two counts of wire fraud in October 2022 following a 3 1/2-week jury trial.

www.freightwaves.com

Feds seek 11-year prison term for Nikola founder

Federal prosecutors want to see Nikola founder Trevor Milton imprisoned for 11 years as punishment for lying to investors.
www.freightwaves.com www.freightwaves.com
Click to expand...

Update.

www.freightwaves.com

Nikola Founder Trevor Milton releases new documentary

Nikola Founder Trevor Milton releases documentary aiming to set the story straight about his fall from leadership.
www.freightwaves.com www.freightwaves.com
 
www.ttnews.com

UNFI Hack Leaves Some Whole Foods Shelves Bare - TT

In a June 9 email to customers, a representative said the company is “working toward the goal of returning to full operational capacity by” June 15 or sooner and apologized for any disruption.
www.ttnews.com www.ttnews.com

www.ttnews.com

FMCSA Seeks Input to Revamp Consumer Complaint Database - TT

FMCSA is seeking public input about its planned revision to the National Consumer Complaint Database that handles complaints against unsafe and unscrupulous companies.
www.ttnews.com www.ttnews.com
 

Wall Street Breakfast Podcast: Game On!​

Summary​

  • Nintendo Switch 2 becomes the company's fastest-selling console, with over 3.5M units sold in four days, aiming for 15M units this fiscal year.
  • Dave & Buster's sees early signs of recovery with a back-to-basics strategy, despite Q1 sales decline and mixed earnings reaction.
  • GameStop reports $6.4B in cash and no new Bitcoin purchases, with revenue down but a swing to net income and EPS beat.
More:

 
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