markets

Luke Kawa5/7/25

Some of the biggest presumptive beneficiaries of a US-China trade truce are tumbling

Markets got a big jolt after the close on Tuesday following news that Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer are meeting with a top Chinese economic official on Thursday to talk trade. That was quickly followed by interest rate cuts by the People’s Bank of China.

But even with these positive catalysts — and before Apple kneecapped Google and the broader market — a basket of Chinese ADRs listed in the US was down more than 1% today, significantly lagging the SPDR S&P 500 ETF.

Consider these moves in the context of:

a) The bump that these stocks, particularly Chinese ADRs, received after China confirmed that it was talking about talking with the US.

b) The insane rally in US stocks with outsized sales exposure to China on the day 125% tariffs on the world’s second-largest economy were enacted.

When things don’t go up on what appears to be good news, it’s time to stand up and take notice (see: Palantir). Wednesday’s price action has some similarly worrying hallmarks of a “sell the news”-type event.

More Markets

See all Markets

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

Latest Stories

Sherwood Media, LLC and Chartr Limited produce fresh and unique perspectives on topical financial news and are fully owned subsidiaries of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Money, LLC, Robinhood U.K. Ltd, Robinhood Derivatives, LLC, Robinhood Gold, LLC, Robinhood Asset Management, LLC, Robinhood Credit, Inc., Robinhood Ventures DE, LLC and, where applicable, its managed investment vehicles.

©2026 Sherwood Media, LLC