A Weekly Wrap: Market Movements, Trade News, and Earnings Highlights
In this week's Weekly Wrap episode hosted by Steve Eisman, key market updates and trade news are discussed.
The S&P 500 and NASDAQ were down marginally, capping off a strong rally. Significant trade developments included President Trump's proposed tariffs on foreign-produced movies and a vague reversal on Biden-era AI chip curbs, impacting media and chip stocks. A new trade agreement with the UK also promises increased market access and reduced duties on certain goods. On the tax front, there's a proposal to extend the 2017 tax cuts with offsets targeting high incomes and private equity gains.
Earnings season continues, with mixed results, particularly in consumer-facing companies and media. However, notable performances were seen from Disney and certain industrial and tech companies like Johnson Controls and AMD. Beyond earnings, the episode covers the Fed's steady interest rates and a surprising testimony from an Apple executive in the Google antitrust trial, which may signal a decline in Google searches due to AI competition.
To cap it off, Steve teases an interview with renowned housing analyst Ivy Zelman in the next podcast episode.
Episode Highlights:
00:00 Introduction and Market Overview
00:29 Trade News Highlights
02:27 Tax Updates and Proposals
03:30 Private Equity and Venture Capital Challenges
04:47 Federal Reserve and Antitrust News
06:02 Earnings Season Insights
07:22 Consumer-Facing Companies Performance
09:13 Media Sector Analysis
10:35 Industrials Sector Review
12:01 Technology Sector Highlights
13:30 Conclusion and Upcoming Episodes
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Episode Production Credits
Producer: Collier Landry
Producer & Publicity: Steven Cohen, Next Horizon Media
Post-Production Services by Don't Touch My Radio
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