Happy Friday!
Markets cooled off today. The S&P 500 dipped 0.6%, mostly thanks to Trump’s comments about 50% tariffs on Europe and added pressure on Apple. He told Tim Cook he wants iPhones for the U.S. made in the U.S., or face tariffs.
Apple took a hit, and since it’s such a big part of the S&P, that weighed on the whole index.
But not everything was red…
Gold (GLD) had another solid day—it's been up all week. That’s your current flight to safety.
The VIX held firm above 20.
Nuclear names like UUUU (+20%) and CCJ rallied after talk of new plants from the Trump administration.
Psychedelic stocks like MNMD and CMPS saw some lift following chatter around mental health policy shifts.
Treasury yields eased up a bit today, which was a nice breather from recent volatility.
Rate cuts? Odds of a June cut are near zero, and July isn’t looking promising either.
Markets are closed Monday for Memorial Day—enjoy the long weekend. Back at it Tuesday.
#MarketUpdate #OptionsEducation #TariffsAndTech #GoldRally #NuclearEnergy
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