markets

Luke Kawa2/3/25

Bitcoin and ethereum tumble as traders learn the “Crypto President” is also “Tariff Man”

Shortly before his inauguration, Donald Trump hosted a Crypto Ball. A week into his new administration, the president started a Crypto Bail.

Cryptocurrencies like bitcoin and ethereum have been some of the most reactive assets to President Trump’s executive orders that slap a levy of 25% on most Canadian and Mexican imports and 10% on Chinese imports effective on Tuesday.

The trump meme coin, which launched shortly before the inauguration and briefly hit a market cap of $70 billion, has also been in retreat, losing nearly a third of its value over the past week.

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Bitcoin and other cryptocurrencies often behave like hyper-leveraged versions of US tech stocks, something we saw quite starkly in the aftermath of the November 5 election to the upside and are seeing recently to the downside.

It’s still early days, but it probably doesn’t help that the high expectations the crypto industry has for this presidency have yet to been met, with any creation of a strategic bitcoin reserve still TBD.

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Credit markets have a “debt” problem, not a “risk” problem

We’re getting a lot of borrowing, and that borrowing is risk-reducing (for now!)

New York City Architecture And Monuments

Meet the newly public, Bezos-backed company that’s recreating the sun and stars

General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

Web Summit Vancouver 2026 - Day Three

markets

J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

Floridians Seek Employment Opportunities At Job Fair In Sunrise

Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

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