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Trump is said to want to modify the export controls on AI Chips and may use it as a "tool" for trade negotiations.
① According to sources, officials in the Trump administration are considering abandoning the "tiered licensing system" for AI Chip exports and establishing a "Global licensing system" through intergovernmental agreements; ② This modification may be related to President Trump's trade Global Strategy, aiming to use "the use of USA chips" as a strong tool in trade negotiations.
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Donating money resulted in a plummet of values! The USA Technology industry trying to curry favor with Trump ended up being a "Faustian trade."
① Just as USA Technology companies were once very cocky at the beginning of Trump's presidency, they now find themselves in big trouble; ② Due to tariff policies and market turmoil caused by Trump's overreach, the performance of USA Technology companies has been collectively downgraded this year, and Stocks have also been heavily sold off; ③ Musk, Huang Renxun, Zuckerberg, and Bezos have lost nearly 200 billion dollars in wealth, leading to their support for Trump being regarded as a deal with the devil.
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Under the shock of tariffs, the Global hedge funds have lost their sense of direction, while shorting the US stock market has become a consensus.
As tariff policies trigger significant market fluctuations, most hedge fund managers choose to stay put, still reluctant to make any major bets, with one notable exception: they are heavily shorting USA Stocks.
The U.S. Secretary of Commerce: The first trade agreement has been reached and is expected to be approved soon!
① On Tuesday, USA Secretary of Commerce Wilbur Ross revealed that the Trump administration has reached its first trade agreement, but it has not been completely finalized; ② Also on Tuesday, Trump stated that the tariff negotiations with India are "progressing well," and he believes that the USA is about to reach a trade agreement with India.
After "breaking up" with Amazon, UPS cut 20,000 jobs and suspended its full-year forecast amid economic uncertainty.
UPS currently has about 0.49 million employees and plans to cut 4% of its total workforce due to parting ways with its largest customer, Amazon. This layoff aims at network restructuring and efficiency improvement. Although UPS's first-quarter performance exceeded expectations, it has not updated its full-year outlook due to economic uncertainty, and a decline in transportation volume and revenue is expected in the second quarter.
Trump has criticized Powell again, this time without naming him.
A week after claiming he had no intention of firing Powell, Trump again publicly criticized the Federal Reserve, stating, "We have a Federal Reserve that is not performing well," and believes he understands interest rates "better than he does."
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Express News | In overnight trading, Nvidia drops 2%, SMCI, Starbucks, Snap, and First Solar shares fall after their financial results