S&P 500 Slips as Tesla Tanks, Traders Digest Trump-Xi Drama!
📉 Market Recap – Thursday
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#DowJones: -0.25%
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#Nasdaq: -0.83%
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#S&P500: -0.53%
đź’Ą Tesla’s Rough Ride
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Tesla shares plummet 14%—losing its trillion-dollar market cap status!
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The drama between Trump & Musk escalates:
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Trump calls out Musk, says he’s “very disappointed.”
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Musk fires back, claiming: “Without me, Trump would have lost the election.”
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Trump labels Musk “crazy” and threatens to cut government contracts.
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đź‘Ž Trump Media & Tech Group falls -7%, as the feud intensifies.
🇨🇳 US-China Trade Talks – A Phone Call That Shook the Market
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Trump initiates a call with China’s President Xi Jinping.
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Trump hails it as a “very good phone call,” but is the calm before the storm?
🛑 Job Data – Weak Signs of Economic Slowing
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Jobless claims: 247,000 (vs. the expected 236,000).
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All eyes on Friday’s Nonfarm Payrolls Report—forecasting 125,000 jobs and an unemployment rate of 4.2% for May.
🏦 European Central Bank
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ECB cuts rates for the 8th time in a year but signals a potential pause in future cuts.
🔑 Other Asset Highlights
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10-year Treasury yield: 4.39%
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Dollar Index: 98.66
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Brent Crude: $65.20/barrel
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Bitcoin: $101,740
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Gold: -0.9% at $3,348/ounce
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Silver: +1.4% at $35.45/ounce, highest since Feb 2012!
🔥 Markets are heating up with political drama, economic uncertainty, and asset volatility. Stay tuned as the situation unfolds!
