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Geopolitics Events
Trump Shocks Markets with 35% Canada Tariff Threat, Escalating Global Trade Tensions
In a shocking move that has sent ripples through global markets, President Donald Trump has announced a 35% tariff on Canadian imports, set to take effect on August 1, 2025. This decision marks a significant escalation in trade tensions between the United States and its northern neighbor, threatening to disrupt long-standing economic ties.
Stock Market Tumbles as Trump's Canada Tariff Threat Spooks Investors Ahead of Crucial Earnings Week
Rubio to Meet Chinese Counterpart Amid Rising Tensions and Trade Concerns
US Secretary of State Marco Rubio is set to meet China's Foreign Minister Wang Yi in Malaysia amid escalating US-Chinese tensions. The meeting, occurring on the sidelines of ASEAN talks, comes as both nations vie for influence in Asia.
China and U.S. Boost Diplomatic Channels, Rubio Hints at Potential Trump-Xi Summit
In a significant diplomatic development, China and the United States have agreed to boost communication channels at all levels, as reported by Chinese state media CCTV. The agreement aims to improve discussions and cooperation in various areas while addressing differences between the two nations.
China's Foreign Minister Conducts Diplomatic Blitz, Seeks Improved Relations with Multiple Countries
China's Foreign Minister Wang Yi engaged in a series of diplomatic meetings in Malaysia, focusing on improving international relations. He met with counterparts from Australia, the UK, and Canada, emphasizing cooperation and mutual understanding.
US Reports Unexpected June Budget Surplus, Masking Underlying Fiscal Challenges
The US Treasury reported a surprising $27.01 billion budget surplus for June 2025, defying expectations of an $11 billion deficit. This marks a significant turnaround from the $71 billion deficit recorded a year ago.
Trump Blasts Fed Chair Powell's Performance as "Terrible"
President Trump harshly criticizes Federal Reserve Chair Jerome Powell's performance, describing it as "terrible."
State Department Initiates Mass Layoffs as Trump Administration Reviews Federal Workforce
The Trump administration is implementing significant changes in federal agencies. The State Department is set to lay off over 1,300 employees, aligning with Trump's 'America First' agenda. Formal notifications to affected staff have begun, marking the start of a major restructuring.
Google Offers Cloud Discount to US Government Amid Tech Scrutiny
Google plans to offer discounted cloud computing services to the US government, according to Financial Times reports.
UK Economy Shrinks as Trump Escalates Global Trade Tensions
UK economy unexpectedly contracted in May, with GDP dropping 0.1%. This economic setback coincides with President Trump's expansion of trade conflicts.
Rubio Signals Likely Trump-Xi Summit, Highlighting Positive Relations
U.S. Secretary of State Rubio announces high probability of a Trump-Xi meeting. He emphasizes Trump's "very positive" relationship with Xi Jinping.
China and US Agree to Strengthen Communication Channels
China and the United States have reached an agreement to enhance communication channels at all levels, according to CCTV.
Trump Administration Reverses Course on FEMA Abolition Plan
The Trump administration has abandoned its plan to abolish FEMA, as reported by the Washington Post. This reversal comes after bipartisan pressure to maintain national disaster readiness.
Macro Events
Trump Shocks Markets with 35% Canada Tariff Threat, Escalating Global Trade Tensions
In a shocking move that has sent ripples through global markets, President Donald Trump has announced a 35% tariff on Canadian imports, set to take effect on August 1, 2025. This decision marks a significant escalation in trade tensions between the United States and its northern neighbor, threatening to disrupt long-standing economic ties.
Canada's Job Market Surges, Unemployment Rate Falls to 6.9%
Canada's labor market experienced a significant rebound in June, defying expectations and adding 83,100 new jobs. This marks the first increase since January and the largest rise this year. The unemployment rate dropped to 6.9% from 7.0% in May, beating forecasts of 7.1%. The participation rate also increased to 65.4% from 65.3%.
UK Economy Contracts in May Despite Quarterly Growth; Manufacturing and Trade Show Mixed Signals
The UK's economic indicators for May 2025 show mixed results. Monthly GDP unexpectedly contracted by 0.1%, falling short of the forecasted 0.1% growth. However, the three-month GDP estimate rose by 0.5%, surpassing expectations.
ECB Officials Clash on Monetary Policy as Economy Shows Mixed Signals
ECB officials Panetta and Schnabel have presented contrasting views on monetary policy. Panetta advocates for continued easing, citing downside growth risks that strengthen the disinflationary process. He emphasizes the need for flexibility and pragmatism in the coming months, suggesting further rate cuts if weak growth weighs on prices.
Fed Chair Powell Reportedly Mulls Resignation, Markets Brace for Potential Shake-up
Breaking news has emerged that Federal Reserve Chair Jerome Powell is reportedly considering resigning from his position. This information comes from multiple sources, including the U.S. Federal Housing and William J. Pulte, chairman of Fannie Mae and Freddie Mac.
Fed's Goolsbee Warns New Tariffs May Delay Rate Cuts and Spark Inflation Concerns
Chicago Fed President Austan Goolsbee has raised concerns about the potential impact of new tariff threats on the Federal Reserve's monetary policy decisions. In a series of statements, Goolsbee emphasized that these tariffs could complicate the inflation outlook and potentially delay anticipated interest rate cuts.
French Inflation Edges Up in June, UK GDP Growth Beats Expectations
French consumer inflation data for June has been released, showing an uptick in prices. The year-on-year CPI rose to 1.0%, surpassing expectations of 0.9%.
Trump Blasts Fed Chair Powell's Performance as "Terrible"
President Trump harshly criticizes Federal Reserve Chair Jerome Powell's performance, describing it as "terrible."
UK Economy Unexpectedly Shrinks, Defying Rebound Expectations
The UK economy unexpectedly contracted by 0.1% in May, falling short of expectations for a slight rebound.
ECB's Panetta Calls for Flexible Approach, Suggests Rate Cuts if Growth Weakens
ECB Governing Council member Fabio Panetta advocates for a flexible monetary policy approach in the coming months. He suggests the ECB should consider further interest rate cuts if economic growth falls short of expectations and negatively impacts inflation.
Trump's Canada Tariff Threat Sends Stock Market Tumbling
The stock market is experiencing a significant downturn today, with major indices falling sharply at the opening bell. The Dow Jones dropped 300 points, while the S&P 500 and Nasdaq futures also declined. This market turbulence is largely attributed to President Trump's threat of imposing a 35% tariff on Canada.
Trump Signals Possible Tariff Talks with Brazil; Lula Warns of Retaliation
President Trump indicates potential discussions with Brazil regarding tariffs. In response, Brazil's President Lula warns of retaliation if U.S. implements new tariffs.
Canada Delays Retaliatory Tariffs on U.S. Steel and Aluminum
Canada postpones implementation of counter-tariffs on U.S. steel and aluminum imports, according to Politico.
Fed Official Urges Patience, Seeks More Positive Data Before Confirming Economic Stability
Fed's Goolsbee expresses caution about the economic outlook, emphasizing the need for anxiety to subside before feeling confident about a soft landing.
Trump Considers Tariff Talks with Brazil as Lula Warns of Reciprocal Action
President Trump hints at potential discussions with Brazil regarding tariffs, signaling a possible diplomatic approach to trade tensions.
Walmart Suppliers Halt Bangladesh Orders Amid Looming US Tariffs
Walmart suppliers in Bangladesh are pausing garment orders due to President Trump's threat of 35% US tariffs starting August 1.
European Markets Plunge as Trade War Escalates, Economic Worries Mount
European stocks tumble as Trump expands trade war. Markets react to tariff uncertainty, with Euro Stoxx 50 falling 1%.
Trump Administration Reverses Course on FEMA Abolition Plan
The Trump administration has abandoned its plan to abolish FEMA, as reported by the Washington Post. This reversal comes after bipartisan pressure to maintain national disaster readiness.
Crypto Events
Bitcoin Breaks $118,000 Barrier, Boosting Crypto-Related Stocks
Bitcoin surges past $118,000, reaching new all-time highs. The cryptocurrency's price surge drives up crypto-exposed stocks as investors embrace risk-on sentiment.
SharpLink Gaming Acquires 10,000 ETH Directly from Ethereum Foundation
SharpLink Gaming ($SBET) has made a significant move in the crypto market.
MicroCloud Hologram Makes Major Bitcoin Investment, Sees Significant Returns
MicroCloud Hologram Inc. has invested up to $200 million in Bitcoin and cryptocurrency-related securities derivatives.
BTC Digital Finalizes $1 Million Ethereum Strategic Reserve
BTC Digital, also known as BTCT, has completed the establishment of a $1 million Ethereum strategic reserve.
Technology Events
JPMorgan Demands Payment from Fintechs for Customer Data Access
JPMorgan announces that fintech companies will be required to pay for access to customer data.
Intel Spins Out AI Robotics Venture RealSense with $50M Funding
Intel is spinning out its AI robotics and biometrics venture, RealSense, with a $50 million Series A investment.
Gorilla Technology Unveils Massive Pipeline, Partners with NVIDIA
Gorilla Technology announces a $5.6 billion global pipeline across 87 opportunities. The company becomes an official NVIDIA solutions provider, expecting to close $1.3 billion in contracts by mid-2026.
Huawei Challenges Nvidia with New Flexible AI Chip Design
Huawei is developing a new, flexible general-purpose AI chip design. This move aims to compete with Nvidia and break its dominance in China's AI market.
Corporate Actions Events
Kraft Heinz Explores $20 Billion Spinoff in Major Restructuring Plan
Kraft Heinz is reportedly planning a major restructuring, considering spinning off a significant portion of its grocery business. The potential spinoff could create a separate entity valued at up to $20 billion.
Musk's xAI Aims for Staggering $200 Billion Valuation in Fundraising Effort
Elon Musk's artificial intelligence company, xAI, is reportedly seeking to raise funds at a valuation of up to $200 billion.
Oil And Gas Events
BP Reports Mixed Q2: Higher Output and Strong Trading Offset by Lower Energy Prices
BP reports a mixed Q2 performance. Production increased and oil trading delivered strong results, but lower energy prices impacted revenues. Refining margins improved, yet a potential $1.5B asset write-down looms.
US Energy Department Taps Strategic Reserve to Aid Gulf Coast Fuel Supply
The US Department of Energy has approved an exchange from the Strategic Petroleum Reserve with ExxonMobil. This move aims to address logistical challenges affecting crude oil deliveries to Exxon's Baton Rouge refinery.
IEA Boosts Oil Supply Forecast, Cuts Demand Growth Estimates in Latest Report
The International Energy Agency (IEA) has released its latest monthly report, revising forecasts for global oil supply and demand.
Global Oil Market Tightens as Russia Considers Gasoline Export Ban and Saudi Boosts Production
The global oil market is showing signs of tightening, according to the International Energy Agency (IEA). Despite apparent stock builds, price indicators suggest a tighter physical market, with prompt time spreads in steep backwardation and healthy refinery margins.
Crude Oil Prices Surge as US Oil Rig Count Declines
WTI crude oil futures settled at $68.45 per barrel, up $1.88 or 2.82%. Brent crude futures also rose, settling at $70.36/bbl, up $1.72 or 2.51%.
US Oil Rig Count Dips as Price Uncertainty Persists
Baker Hughes reports a decline in US oil rig count to 424, down from 425 previously. Key shale basins show minimal changes, with Cana Woodford seeing a decrease of 3 rigs.
Saudi Arabia Breaks OPEC+ Quota, Boosts Oil Production Amid Regional Tensions
Saudi Arabia has significantly increased its oil production in June, surpassing its OPEC+ quota. This rare breach comes as a surprise, given Saudi Arabia's history of criticizing other members for overproduction.
Oil Prices Rebound Amid Geopolitical Tensions, Despite Demand Concerns
Oil futures recover some losses from the previous day, driven by geopolitical risks and tariff delays. Prices rise, putting petroleum futures on track for weekly gains.
Metals Events
Canada Delays Retaliatory Tariffs on U.S. Steel and Aluminum
Canada postpones implementation of counter-tariffs on U.S. steel and aluminum imports, according to Politico.
Healthcare Events
MiNK Therapeutics' Cancer Breakthrough Sends Stock Soaring
MiNK Therapeutics announces a breakthrough in cancer treatment. Their allogeneic iNKT cell therapy, agenT-797, achieved complete remission in a patient with metastatic testicular cancer.
FDA Rejection Hammers Biotech Firm, Novartis Loses Patent Case
Capricor Therapeutics faces a major setback as the FDA rejects its Duchenne muscular dystrophy drug application. The company's shares plummet in response to this unexpected decision.
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