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Top Stories🎯
US to Implement 104% Tariffs on China, Sparking Market Turmoil
The US is set to impose 104% tariffs on Chinese goods starting at 12:01 AM ET on April 9th, as confirmed by White House officials. This move has caused stock market volatility and raised global trade tensions.
Trump's Executive Orders to Revive Coal Industry and Boost Energy Production
President Trump is set to sign executive orders on Tuesday aimed at revitalizing the U.S. coal industry and boosting energy production. The move is expected to have significant implications for the sector and related commodities.
Bessent: Tariff Talks Underway with Dozens of Countries, Success Could Ease Tensions
Treasury Secretary Bessent discusses ongoing tariff negotiations, stating that up to 70 countries are seeking talks. He emphasizes that successful negotiations could lead to tariffs becoming a "melting ice cube," with some potentially remaining in place.
China Promises Retaliation Against Trump's Proposed 50% Tariff Hike
China vows to "fight until the end" and take countermeasures if the US imposes new tariffs, responding to Trump's threat of an additional 50% hike on Chinese goods. The escalating trade tensions impact global markets and diplomatic relations.
Company News
Walgreens Boots Alliance, Inc. (WBA)
Performance Overview
1D Change: 📉 -1.12%
5D Change: 📉 -5.11%
News Volume: 📰 36
Unusual Volume Factor: 🚀 10x
Walgreens Beats Q2 Estimates, Withdraws Guidance Amid Private Equity Acquisition Plans
Walgreens Boots Alliance (WBA) has released its Q2 2025 earnings report, surpassing Wall Street expectations. The company reported adjusted earnings per share of $0.63, beating the estimated $0.52, and revenue of $38.6 billion, exceeding the projected $38.03 billion. This represents a 4.1% year-over-year increase in revenue.
Full coverage of $WBA on MarketFlux.io
Cvs Health Corporation (CVS)
Performance Overview
1D Change: 📈 5.92%
5D Change: 📉 -0.51%
CVS Health Appoints New CFO, Maintains Strong Outlook Amid Medicare Payment Boost
CVS Health Corporation has made significant headlines today with a major leadership change and positive financial outlook. The company announced the appointment of Brian Newman, a former UPS executive, as its new Chief Financial Officer, effective April 21. This marks the first major leadership shift under new CEO David Joyner, with Newman replacing Thomas Cowhey, who held the position for just over a year.
Full coverage of $CVS on MarketFlux.io
Macro Events
US Confirms 104% Tariff on China Starting Midnight, Sending Shockwaves Through Global Markets
In a significant escalation of trade tensions, the US Trade Representative Greer has announced that higher reciprocal tariffs will go into effect tomorrow. The White House has confirmed that a 104% tariff on Chinese goods will be implemented starting at 12:01 AM ET on April 9th. This move comes despite ongoing negotiations and represents a hardline stance from the Trump administration on trade issues. The White House Press Secretary Leavitt stated that tariffs will be enforced as talks continue, prioritizing discussions with allies and partners. The announcement has caused volatility in financial markets, with stocks initially rallying but then reversing gains as the news broke. The S&P 500, Dow, and Nasdaq all experienced significant swings. The White House emphasized that no deals will be made unless they benefit US workers and reduce the trade deficit. This development marks a critical moment in the ongoing trade dispute between the US and China, with potential far-reaching implications for global trade and economic relations.
Market Whiplash: S&P 500 and Nasdaq Erase 4% Gains as China Tariff News Sparks Massive Selloff
Number of articles: 42
Tickers: QQQ, SPY
Sentiment Score: 40.64%
In a dramatic turn of events, the stock market experienced extreme volatility, with major indices erasing significant early gains. The S&P 500, which had surged by as much as 4.1%, reversed course and turned negative. Similarly, the Nasdaq 100 wiped out gains of up to 4.5%. This sudden reversal was triggered by the White House's announcement of additional 104% tariffs on Chinese imports, set to take effect on April 9. The market's reaction was swift and severe, with trillions of dollars in market capitalization evaporating within hours. Experts are calling this one of the biggest "bull traps" of the year, as investors who bought in during the early rally rushed to exit their positions. The Volatility Index (VIX) spiked, indicating heightened market uncertainty and expectations of continued turbulence. Analysts warn that such wild swings may persist, urging investors to stay vigilant and adapt their strategies to navigate these unpredictable market conditions.
Trump Orders Customized Trade Deals for Each Country, Keeping Tariffs in Play
President Trump met with his trade team, directing them to pursue individualized trade deals with every country. Nearly 70 nations have approached the U.S. for tariff negotiations. The White House aims for agreements that benefit workers and reduce trade deficits, with reciprocal tariffs continuing during talks.
USTR Greer: US Manufacturing Key to Pricing Stability Amid Trump Tariffs
US Trade Representative Greer emphasizes that Trump's tariffs will primarily impact companies heavily reliant on imports from China and Asia. Greer suggests building products in the US for pricing certainty, noting that reciprocal tariffs are generally lower in the Western hemisphere. This stance aligns with the administration's push for domestic manufacturing and trade rebalancing.
UK Finance Minister Sounds Alarm on Trump Tariffs as Europe Prepares Retaliatory Measures
UK Finance Minister Reeves warns that Trump's proposed tariffs could have significant global economic consequences, as evidenced by market reactions. Europe is reportedly preparing a contingency plan to tax $800 billion of US tech and service exports if Trump rejects offers to lower tariffs. This potential trade war is causing concern, with the US and China seemingly on a collision course. Despite the turmoil, the Bank of England confirms markets are functioning effectively and banks remain resilient. The situation remains tense as China vows to "fight to the end" on tariffs, while the Trump administration leans into a "negotiation" narrative.
Canada Retaliates with 25% Tariffs on US Autos, Effective April 9th
Canada's 25% counter-tariffs on US-made autos will take effect at 12:01 am on April 9th. These tariffs are in response to US measures and will remain until the US eliminates its tariffs against the Canadian auto sector, impacting companies like Ford and GM.
USTR Greer: China Stands Alone as 50 Nations Engage in Tariff Talks with US
US Trade Representative Greer highlights a stark contrast between China and other nations in trade negotiations. While about 50 countries are engaging with the US on tariffs, with many pledging non-retaliation and some even lowering tariffs, China has shown no interest in working towards reciprocity. This underscores the complex landscape of global trade relations.
Micron to Add Tariff Surcharge for U.S. Customers on Some Products
Micron announces plans to implement a tariff-related surcharge on select products for U.S. customers starting April 9, according to sources. This move reflects the company's response to ongoing trade tensions.
Canadian Ivey PMI Dips in March, Misses Expectations
Canada's Ivey PMI for March declined to 51.3 from 55.3 in February, falling short of the 53.2 estimate. The non-seasonally adjusted figure rose to 55.6 from 53.6.
Geopolitics Events
Musk Unleashes Scathing Attack on White House Adviser Amid Trade Policy Dispute
Elon Musk has ignited a social media firestorm by calling White House trade adviser Peter Navarro "truly a moron" and "dumber than a sack of bricks." This verbal assault comes amid escalating tensions over President Trump's reciprocal tariff policies, pitting the tech titan against the White House in a dramatic public spat.
Zelenskiy: Chinese Troops Captured in Ukraine, Signaling Potential Escalation in Russia-Ukraine War
President Zelenskiy of Ukraine claims Chinese soldiers are now involved in Russia's war against Ukraine. Ukrainian forces reportedly engaged six Chinese troops in eastern Ukraine, capturing two. Zelenskiy has ordered officials to demand a response and expects a reaction from the US regarding this development in the ongoing conflict.
US Defense Chief Warns of Chinese Espionage Risk in Panama Canal
US Defense Secretary Hegseth warns of threats to the Panama Canal, citing Chinese companies' foothold as an espionage risk. He asserts China won't weaponize the canal and pledges to restore US influence in the region.
USTR Greer: US Manufacturing Key to Pricing Stability Amid Trump Tariffs
US Trade Representative Greer emphasizes that Trump's tariffs will primarily impact companies heavily reliant on imports from China and Asia. Greer suggests building products in the US for pricing certainty, noting that reciprocal tariffs are generally lower in the Western hemisphere. This stance aligns with the administration's push for domestic manufacturing and trade rebalancing.
Meloni to Meet Trump: Italian PM Seeks Tariff Relief in US Visit
Italian Prime Minister Giorgia Meloni is set to visit the US next week to negotiate tariff relief directly with President Trump. This move, coordinated with the EU, aims to address trade concerns between Italy and the United States.
Trump's Push for US-Made iPhones Sends Apple Shares Tumbling, Raises Cost Concerns
President Trump's belief that the US can manufacture iPhones domestically has sent shockwaves through the tech industry. Apple shares plummeted 3.5% following White House Press Secretary Leavitt's statement. The announcement has sparked debates about the feasibility and cost implications of such a move, with some speculating that domestically produced iPhones could cost up to $5,000. This development comes as China tariffs are set to take effect, highlighting the ongoing trade tensions.
Trump Admin Rethinks China Port Fee Plan Amid Business Concerns
The Trump administration is reconsidering its proposed fee on China-linked vessels entering U.S. ports after significant pushback from American businesses. Companies warned the plan could negatively impact the economy, prompting potential changes.
Trump Administration Reaffirms No Tariff Exemptions, Vietnam in Crosshairs
Trump's administration stands firm on tariffs, with USTR Greer confirming no exemptions in the near term. Vietnam is identified as a major target of this action, signaling a tough stance on trade policy.
Trump Touts Tariff Revenue, Claims Japan and South Korea Eager for Trade Deals
President Trump claims the US is collecting $2 billion daily from tariffs. He states that Japan and South Korea are rushing to negotiate deals, suggesting tariffs are being used as a bargaining tool in international trade talks.
U.S. Treasury's $58 Billion 3-Year Note Auction Yields Mixed Results, Raising Concerns
The U.S. Treasury sold $58 billion in 3-year notes with a high yield of 3.784%, slightly above the pre-sale estimate. The auction saw a bid-to-cover ratio of 2.47, lower than the previous sale. Indirect bidders dominated, taking 73.03% of the offering, while primary dealers and direct bidders accounted for 20.73% and 6.24% respectively.
China and EU Leaders Pledge to Boost Trust and Trade in High-Stakes Phone Call
China's Premier Li and EU's von der Leyen held a crucial phone call, discussing strengthening political trust and enhancing trade relations. They agreed to improve communication, protect free trade, and establish a mechanism to track potential trade diversion. Both leaders emphasized the importance of dialogue to address concerns and support a reformed trading system, highlighting the global significance of EU-China cooperation.
White House: Trump Expects China Deal, Promises Gracious Response
Trump believes China must make a deal with the US, according to White House Press Secretary Leavitt. If China agrees, Trump will respond graciously, signaling potential progress in trade negotiations.
White House Shrugs Off Musk-Navarro Tariff Spat as "Boys Will Be Boys"
The White House downplayed a heated exchange between Elon Musk and trade advisor Peter Navarro over tariffs, labeling it "boys will be boys." The administration framed the dispute as an example of transparency, dismissing concerns about the expletive-laden argument.
Judge Orders White House to Reinstate AP Access Amid Ongoing Lawsuit
A federal judge has ordered the Trump White House to restore the Associated Press' access to cover the President at the White House, on Air Force One, and in restricted areas open to other media outlets. This decision comes as a lawsuit proceeds, lifting previously imposed restrictions.
White House Flooded with Tariff Negotiation Requests from Nearly 70 Countries
The White House reports that almost 70 countries have initiated contact to negotiate U.S. tariffs. Deals will be considered if they benefit American workers and address trade deficits, according to Press Secretary Leavitt.
Citi Slashes China's 2025 Growth Outlook Amid Global Trade Tensions
Citi has reduced China's 2025 GDP growth forecast from 4.7% to 4.2% year-on-year, reflecting concerns about rising global tariff risks and economic challenges facing the world's second-largest economy.
White House Mulls Drone Strikes on Mexican Cartels
The Trump administration is reportedly considering using drone strikes against Mexican drug cartels, marking a potential escalation in US efforts to combat drug trafficking across the border.
Healthcare Events
Pharmaceutical Industry Surges Forward with Clinical Trials, FDA Submissions, and Innovative Treatments Amid Regulatory Challenges
The pharmaceutical and biotech industries are buzzing with activity as multiple companies announce progress in clinical trials, new drug applications, and innovative treatments. Lipocine has completed enrollment for a Phase 2a trial of LP-310 for Oral Lichen Planus, with topline data expected in Q2 2025. Praxis Precision Medicines is holding a virtual investor event to discuss clinical programs in developmental and epileptic encephalopathies. Bionano has announced a French publication on an effective method for analyzing multiple myeloma using OGM. NeuroPace reported an 82% seizure reduction in an epilepsy study, while Clene presented evidence of remyelination and neuronal repair with CNM-Au8® treatment at the American Academy of Neurology Late-Breaking Science Session. Kura Oncology and Kyowa Kirin have submitted a New Drug Application for Ziftomenib to the FDA, requesting priority review. In a setback, Rallybio has decided to discontinue the development of RLYB212 for the prevention of FNAIT due to unsatisfactory Phase 2 PK results. Jupiter Neurosciences plans to initiate a Phase 2a trial for JNS115 in Parkinson's disease in Q3 2025. The European pharma lobby EFPIA has warned the EU chief about the need for rapid policy changes to prevent a pharma R&D and manufacturing exodus to the U.S. Brainomix has received FDA clearance for advancing stroke care, while Clearmind Medicine has published an international patent application for next-gen psychedelic compounds to treat mental health disorders. These developments highlight the ongoing efforts in the industry to address various medical conditions and advance healthcare technologies.
European Pharma Lobby Sounds Alarm: Urgent Policy Changes Needed to Prevent Industry Exodus to US
European pharma lobby EFPIA urgently warns EU leadership of a potential exodus of pharmaceutical R&D and manufacturing to the US. In a meeting with the EU chief, they stress the need for "rapid, radical policy change" to counter US incentives and maintain Europe's competitiveness in the pharmaceutical industry.
Fixed Income And Interest Rates Events
U.S. Treasury's $58 Billion 3-Year Note Auction Yields Mixed Results, Raising Concerns
The U.S. Treasury sold $58 billion in 3-year notes with a high yield of 3.784%, slightly above the pre-sale estimate. The auction saw a bid-to-cover ratio of 2.47, lower than the previous sale. Indirect bidders dominated, taking 73.03% of the offering, while primary dealers and direct bidders accounted for 20.73% and 6.24% respectively.
Treasury Yields Skyrocket in Dramatic Two-Day Rally
Treasury yields surge, with 30-year rising 11 basis points to 4.72% and 10-year jumping 30 basis points in two days, the largest increase since 2022.
Corporate Bond Market Rebounds: Paychex Leads High-Grade Sales Revival
US high-grade corporate bond market reopens as credit conditions stabilize, with Paychex Inc. leading the way in new sales, signaling a return to normalcy in investment-grade bond issuance.
EU Taps Bond Market for €7 Billion Amid US Tariff Tensions
The EU plans to raise €7 billion through a two-part bond tap, reopening existing securities amid market uncertainty caused by US tariffs. The deal includes a €5 billion tap of a 2.625% July bond, as investors navigate the economic implications.
Crypto Events
Ripple's $1.25 Billion Acquisition of Hidden Road Shakes Up Crypto Landscape
Ripple, a leading cryptocurrency firm, is set to acquire Hidden Road, a prime brokerage, for $1.25 billion. This blockbuster deal marks one of the largest acquisitions in crypto history and signifies Ripple's ambitious expansion into institutional services. The move is expected to boost XRP and RLUSD utility while strengthening Ripple's position in the digital asset industry.
DOJ Disbands Crypto Enforcement Team, Shifts Focus to Scammer Prosecution
The U.S. Justice Department has disbanded its National Cryptocurrency Enforcement Team (NCET), as revealed in an internal memo. This move signals a strategic shift in crypto enforcement, with the DOJ now focusing on prosecuting scammers rather than targeting exchanges or mixers like Tornado Cash. The decision aligns with President Trump's rollback of digital asset regulations, potentially reshaping the landscape of crypto regulation and enforcement.
Pioneering XRP ETF to Launch on Wall Street, Boosting Cryptocurrency's Performance
Teucrium is set to launch the first-ever XRP-based ETF on NYSE Arca, marking a significant milestone for the cryptocurrency. This leveraged ETF, approved by the SEC, will debut in the US market, outperforming Bitcoin and Ethereum with a 5% spike.
Crypto Market Plunges as U.S. Imposes Massive 104% Tariffs on China
Bitcoin and Ethereum prices tumbled as President Trump confirmed 104% tariffs on Chinese goods, set to take effect at midnight. The crypto market slipped 2.5%, with Bitcoin briefly falling below $77,000. This move sparked a broader market retreat, erasing earlier gains in major U.S. indices. The escalating trade tensions are raising concerns about potential widespread economic impacts.
Technology Events
Tech Giants Broadcom and Nvidia Drive Market Momentum
Broadcom and Nvidia lead market cap movers, with Broadcom's stock rallying and options trade proposed. Apple, UnitedHealth, and Humana also make significant moves in midday trading.
Andreessen Horowitz Targets Record $20B AI Fund Amid Global Tech Boom
Andreessen Horowitz aims to raise $20 billion for its largest-ever fund, focusing on AI growth-stage investments. This move comes amid increasing global interest in US AI startups, signaling a major shift in venture capital.
Oil And Gas Events
Keystone Pipeline Rupture Prompts Shutdown in North Dakota
The Keystone oil pipeline in North Dakota has been shut down following a rupture in a rural area. The spill is confined to an agricultural field, but the cause and volume of the leak remain unclear.
Canadian Oil Execs Remain Calm as Prices Plummet, Predicting Short-Lived Shock
Canadian energy executives are urging caution amid a sharp drop in oil prices, driven by trade war fears and recession concerns. While the plunge was more severe than market dynamics justify, they believe it may be short-lived. Goldman Sachs warns of potential further drops, with prices possibly falling to $50 or even below $40 in extreme scenarios. Despite the volatility, Canadian oil and gas producers are maintaining a steady approach, avoiding hasty decisions and "looking through" the market turbulence.
Oil Prices Tumble Below $60 as Trade War Fears Intensify
U.S. crude oil prices plummeted below $60 per barrel amid fears of a full-blown trade war. NYMEX WTI Crude May futures settled at $59.58, down 1.85%, while Brent Crude futures closed at $62.82, down 2.16%.
Goldman Sachs Predicts Possible Oil Price Plunge to $40 in Extreme Scenario
Goldman Sachs forecasts potential oil price scenarios, including a base case of $55/bbl by 2026 and an extreme scenario of under $40/bbl if a global recession occurs. This analysis impacts oil-related ETFs and market sentiment.
Broadcom Stock Surges on $10 Billion Buyback Plan
Broadcom announces $10 billion share buyback program, causing stock to rise significantly. Investors react positively to the company's move to return value to shareholders.
Santander Mulls $8 Billion Sale of Polish Unit Stake
Banco Santander is reportedly considering selling its majority stake in its Polish unit, potentially worth $8 billion. The Spanish banking giant is exploring various options for this significant asset.
Currencies Events
Yuan Hits Historic Low Amid Escalating Trade War
Offshore yuan plummets to record low as US-China trade war intensifies, signaling heightened economic tensions and market volatility.
