Markets & Headlines - 1/31/25

Markets

White House provides reason to reverse. Market stumbled as investors digested news of tariffs against Canada, Mexico, China. The policies will be available for public inspection Saturday. $IXIC once reaching above +1.0%, dipped to negative. The rest of the world including Germany, France, India, has seen incremental gains throughout the week. Volatility of US equity market was higher than these markets. $AAPL returned the after-market gains of yesterday. $META rose for the 10th consecutive day. $TSLA continues to march after rosy comments from the earnings call.

Headlines

• Trump tariffs on Canada, Mexico and China begin Saturday, White House says

25% tariff on Canada and Mexico, 10% tariff on China in retaliation for the illegal fentanyl that they have sourced.

• DeepSeek’s hardware spend could be as high as $500 million, new report estimates

DeepSeek said the cost was $5.6m. $500m is still great compared to Big tech’s spendings on AI.

• Dow closes 300 points lower Friday as White House says tariffs will start Saturday: Live updates

• Palantir CEO says China’s DeepSeek shows that U.S. needs ‘all-country effort’ in AI

• Key Fed measure shows core inflation at 2.8%, in line with expectations

• Trump Media gifts DJT shares to FBI pick Kash Patel, Linda McMahon and president’s son

$DJT closed $30 per share, putting the gifted sum to $779k

• Atlassian closes at highest since 2022 after reporting better-than-expected earnings, revenue outlook

Atlassian services Trello, Jira, and Confluence

• Nasdaq 100 celebrates 40 years: Is crypto the next big driver for gains?

• Why this 50-year-old restaurant chain has a stock that’s smoking Nvidia’s

Chili’s comp grew 31% in 24Q4

• New inflation reading reinforces Fed’s go-slow strategy

2.8% is in line with expectations but far from Fed target 2%.

• Steel, Aluminum Tariffs Will Impact Millions of Tons of Imports

US imported most steel from Canada, Brazil and Mexico last year.

• Traders Load US-Bound Planes With Gold and Silver in Tariff Bet

Gold futures surged since election of Trump. Volumes have exported out of Switzerland, BoE.

• Meta Posts Longest Rally Since 2015 as Wall St Cheers AI Bet

• 2 charts show why markets are skittish about Trump’s tariff policy

Chart 1: Customs duty revenue as a percentage of goods imports.

• Apple earnings top Wall Street forecasts while iPhone, China sales fall short