📊 Trump's $350B Tech Deal Shocks Markets

Hi everyone, here is your 📊 Daily Trade.

Here's what's happening today:

🤝 Trump, Starmer sign $350B tech prosperity deal
🏦 Fed rate cut impacts mortgage rates
📉 US jobless claims fall, labor market softens
🌍 Exxon seeks US help against EU climate law
💰 Nvidia invests $5B in Intel, skips manufacturing deal
🎁 +8 more stories you might like

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🤝 Trump and Starmer Sign Landmark $350 Billion Tech Prosperity Deal Link
  • President Trump and UK Prime Minister Keir Starmer authorized a $350 billion investment in AI, nuclear energy, and quantum computing.
  • The Technology Prosperity Deal is expected to create 17,500 jobs and includes major investments from tech giants like Nvidia and Google.
  • The agreement aims to enhance energy independence and foster innovation through joint research and development programs.
🏦 Fed's Rate Cut: What It Means for Mortgage Rates Link
  • The Federal Reserve's recent rate cut does not guarantee a decline in mortgage rates, despite expectations of further cuts.
  • Mortgage rates are influenced by the 10-year Treasury yield, which has been easing due to a weakening job market.
  • Experts predict mortgage rates will remain above 6% this year, impacting affordability in the housing market.
📉 US Jobless Claims Fall as Labor Market Shows Signs of Softening Link
  • New unemployment benefit applications fell to 231,000, but the labor market is softening due to reduced demand and supply of workers.
  • The Federal Reserve cut interest rates to support the labor market, projecting further reductions through 2025.
  • Despite low layoffs, hiring has stalled, and the unemployment rate is near a four-year high of 4.3%.
🌍 Exxon Mobil Seeks US Intervention Against EU Sustainability Law Link
  • Exxon Mobil is lobbying the US government to oppose the EU's corporate sustainability directive, citing business concerns.
  • The law requires companies to address human rights and environmental issues, with potential fines of 5% of global turnover.
  • Exxon has paused a European investment due to separate EU rules, highlighting tensions between US and EU regulatory approaches.
💰 Nvidia Invests $5 Billion in Intel Amid Chip Industry Shakeup Link
  • Nvidia's $5 billion investment in Intel aims to bolster the struggling chipmaker without awarding a manufacturing contract.
  • The partnership includes plans to jointly develop PC and data center chips, posing a challenge to rivals like AMD and TSMC.
  • Intel's shares surged on the news, as the deal boosts its capital reserves and strategic position in the chip industry.

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Other news & articles you might like

  • 🔍 Coherent unveils next-gen 2D lens array (Link)
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  • 📉 Celanese shares drop amid inventory issues (Link)
  • 💳 Weatherford expands credit facility to $1B (Link)
  • ⚖️ Trump asks Supreme Court to fire Fed governor (Link)
  • 🚗 Hyundai invests $2.7B in Georgia plant expansion (Link)
  • ⚖️ Trump appeals to fire Fed Governor Cook (Link)
  • 📈 USA Rare Earth shares rise on investment optimism (Link)

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