Financial World Updates
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Financial World Updates
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Elon Musk's SpaceX officially acquires xAI, valuing the company at $1.25 trillion.


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French cybercrime authorities search X offices in Paris, prosecutor says.


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Norwayโ€™s parliament has voted in favour of maintaining the monarchy.


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๐Ÿ‡บ๐Ÿ‡ธ House Speaker Johnson says the House will approve legislation on Tuesday to end the shutdown.


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๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ‡ป๐Ÿ‡ช US plans to issue licenses allowing companies to pump Venezuelan oil.


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Last month, Rep. Nancy Pelosi disclosed a sale of up to $500,000 worth of PayPal stock.

Today, the stock is down 20%


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๐Ÿšจ FTX users reach proposed settlement with Fenwick and West in fraud lawsuit.


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US House passes spending bill ending government shutdown


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"European investors own roughly $10.4 trillion in US stocks and some are considering diversifying away from the US due to Trump"
๏ปฟ
per Bloomberg


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๐Ÿ‡จ๐Ÿ‡ฆ Canada's economy is in recession, economist says.


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๐Ÿš€ Elon Musk becomes the first person in history to reach a $850 billion net worth.


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JP Morgan Private Bank does not chase price

What sets JP Morgan Private Bank apart from regular JP Morgan and most other banks is simple.
It sometimes holds a view that does not react to price action.

Usually it works mechanically: prices go up and targets are raised, prices fall and forecasts are cut.

Speaking publicly against the market takes rare conviction.
On Sunday evening, right after a record and almost historic collapse in gold prices, JP Morgan Private Bank told clients it expects gold to rise to $6,300 per ounce.

The logic is that gold still has room to move higher in a regime where real assets continue to outperform paper ones, and that gold remains the strongest geopolitical hedge.

Saying this after a crash, not during a rally, is the real signal.


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๐Ÿ‡บ๐Ÿ‡ธ Strategy confirms all 2025 preferred stock dividends will be treated as tax-exempt return of capital under US tax rules.


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President Trump had a call with Chinese President Xi Jinping:

I have just completed an excellent telephone conversation with President Xi, of China.

It was a long and thorough call, where many important subjects were discussed, including Trade, Military, the April trip that I will be making to China (which I very much look forward to!), Taiwan, the War between Russia/Ukraine, the current situation with Iran, the purchase of Oil and Gas by China from the United States, the consideration by China of the purchase of additional Agricultural products including lifting the Soybean count to 20 Million Tons for the current season (They have committed to 25 Million Tons for next season!), Airplane engine deliveries, and numerous other subjects, all very positive!

The relationship with China, and my personal relationship with President Xi, is an extremely good one, and we both realize how important it is to keep it that way.

I believe that there will be many positive results achieved over the next three years of my Presidency having to do with President Xi, and the Peopleโ€™s Republic of China!


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๐Ÿ‡บ๐Ÿ‡ธ Treasury Secretary Bessent defends President Trump's Bitcoin Reserve while testifying in Congress.

"The asset seizure, that $1 billion of Bitcoin was seized, $500 million was retained. And that $500 million has become over $15 billion."


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๐Ÿšจ Palantir just lost $40 billion in market cap.


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GOOD MORNING โ˜•๏ธ


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93 days have passed since Michael Burry opened short positions in Palantir and Nvidia

๐Ÿ”ฝSince then, $PLTR is down 33% and $NVDA is down 16%.

He entered near the peak and was not underwater for a single day.


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