MARKET RECAP

• US stocks +0.67%, international stocks +0.16%, bonds were flat.The S&P 500 closed just below a record high set on Thursday. Bitcoin hit a record on Monday, breaking $123,000, but is currently trading at around $118,000.
• Trump announced a 30% tariff on the EQ and Mexico on Thursday.
• Trump eased export restrictions on certain types of AI chips, which helped advance the market.
• Trump spoke a lot about firing Fed Chair Powell during the week, and started reviewing cost over runs on the Fed’s building project, as a way to get Powell to leave his post. But as the week went on, Trump backed off and said he wouldn’t fire him.
• Wholesale prices were up 2.3% year over year, lower than the 2.5% forecast.
• So far, earnings are beating expectations. JPM was positive about the economy.

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