Brian Evans

G-Unit 💪

“Ultimately, we think downside risks associated with still-elevated macro uncertainty, potentially slowing economic growth, and more interest rate cuts through 2025 and 2026 are generally not factored into the stock prices of universal banks and brokers," analyst Saul Martinez wrote in a note.

HSBC downgrades JPMorgan Chase, adopts 'a more cautious stance' on bank stocks The firm downgraded JPMorgan to reduce from hold.

Some sour sentiment from HSBC hitting bank stocks today

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S&P 500 rises to new record on trade deal hopes, capping remarkable comeback from April lows: Live updates Friday's gain was driven by hopes trade deals with China and other countries were coming soon.

The S&P 500 rose to a new record on Friday, the culmination of an improbable turnaround for U.S. stocks this year as they overcame trade turmoil and geopolitics to reclaim the record set in February.

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Solar stocks plummet as Senate version of Trump's tax bill cuts renewable energy incentives The Senate version of the bill seeks to fully phase out the incentives by 2028.

Little surprise that Senate Republicans are looking to fully phase out solar and wind incentives, but quite the move for solar stocks this morning
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The firm said that there is a growing chorus of questions pertaining to the actual use case and utility of AI, as “significant” investments in AI to date have not yet yielded soaring profits. Meanwhile, competition for continues to mount.

Nvidia gets a rare sell rating from Wall Street Seaport Research's's take on Nvidia stock is starkly at odds with all the other analysts on Wall Street.

A big, but contrarian, call on Nvidia from Seaport today

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Apple shares to tumble nearly 30% as earnings take tariff hit, Moffett Nathanson predicts "There are no easy answers here. Apple is inextricably tied to opposing forces at the center of the trade tensions," the Wall Street researcher said.

Earlier in the week:

Bank of America cuts Apple price target on tariff hit, delayed AI rollout Apple has also delayed the rollout of Apple Intelligence, its take on AI, several times since 2024.

It’s becoming more common for analysts on Wall Street to cite Apple’s delayed AI rollout as a reason to be cautious on the stock. This is the second story I’ve written in the span of a week which cites this as a potential headwind.

The bottom line: it’s not just the tariffs.

Wells Fargo downgrades UPS, says tariffs to hit shipping volume Wells Fargo's forecast now implies 1.8% upside from Monday's $96.25 close. Shares of UPS have pulled back nearly 24% in 2025.

“We see elevated risk to volume from tariffs and the elimination of the de minimis exemption,” Wells Fargo analyst Christian Wetherbee wrote in a Tuesday note. “Both FedEx and UPS also face execution risk as they adjust their networks.”

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UBS raises gold forecast after bullion's big week: 'Room for gold to run higher' Gold hit a fresh record on Friday, surpassing the $3,200 level, as investors continue to seek safety amid President Donald Trump's escalating trade war.

“The case for adding gold allocations has become more compelling than ever in this environment of escalating tariff uncertainty, weaker growth, higher inflation and lingering geopolitical risks,” UBS analyst Joni Teves

Monologue: OpenAI's Non-Profit Problem Podcast Episode · Better Offline · 04/11/2025 · 8m

Here’s this week’s Better Offline monologue. I walk you through the precarious nature of OpenAI's non-profit status - and how a petition to the California Attorney general is an existential threat to the company.
podcasts.apple.com/us/podcast/b...
Linktr.ee/betteroffline

Many on Wall Street say sell the rallies because Trump can't undo damage already done Stocks are sharply lower on Thursday, despite the rally that followed Trump's 90-day reprieve on "reciprocal" tariffs for most countries.

The concern, which is underpinned by investors trying to contend with market volatility stoked by an unpredictable president, leaves little conviction in any future market rallies, according to UBS.

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Worry is lingering on Wall Street, even after President Donald Trump paused some of his wide-ranging tariffs.

Four scenarios on where the tariff situation and markets go from here by Canaccord Genuity Investors hold on to hope that President Trump will come to a deal to soothe macroeconomic worry. So far, no deal with any country has been struck.

Canaccord Genuity mapped out how the firm thinks the tariff uncertainty will play out for markets, and described four key scenarios. For context, the firm posits that the S&P 500′s next key support level is roughly 4,950, reflecting a decline of about 2.4% from Friday’s close.

The Nasdaq Composite, home to many tech companies that sell to China and manufacture there as well, dropped 5.4%. this follows a nearly 6% drop on Thursday. The measure is 22% lower than its December record, a bear market in Wall Street terminology

The S&P 500
nosedived 5.6%, also the biggest decline since June 2020. The benchmark shed 4.84% on Thursday and is now off 17% off its recent high.

Here's a tally of the stock market damage:

The Dow Jones Industrial Average
dropped 2,063 points, or 5.1% on Friday, its biggest decline since June 2020 during the pandemic. This follows a 1,679 point decline on Thursday and brings the drawdown from its record to 14%.

The jobs report for March gave a mixed picture of the U.S. economy.

Payrolls increased by 228,000 last month, while economists polled by Dow Jones forecast an increase of 140,000. The unemployment rate inched up to 4.2%, compared to estimates that called for the figure to hold steady at 4.1%.

Dow futures tumble a second day, losing 1,400 points after China retaliates to Trump tariffs: Live updates The three major indexes are on track to end the week down after Thursday's steep drop.

Even more fear spreading across markets this morning.

China retaliated with new tariffs on U.S. goods, raising fears a trade war will tip the globe into a recession.

Anyone else get a phone call today?

Trump's post-election market gain is nearly gone.

Thursday's market moves have sent the S&P 500 to its lowest level since before Trump's election win in November, and also erased nearly $2 trillion from the index.

Dow futures tumble 1,200 points on fear Trump's tariffs will spark trade war: Live updates Wednesday saw further volatility roil markets as tensions ran high ahead of Trump's announcement, but stocks ultimately ended the session in the green.

Because it’s wreckable, alright? I took another look at it, and I changed my mind.

Dow futures tumble 1,200 points on fear Trump's tariffs will spark trade war
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Stocks slide as Wall Street braces for Trump tariff rollout: Live updates Stocks dropped Wednesday as Wall Street braced for the expected rollout of President Donald Trump's tariffs.

Uncertainty is keeping trading erratic for a third-straight day

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Trump’s rhetoric as April 2 approaches has culminated in a renewed sense of worry that the tariffs will spark a recession.

Monday’s moves are a stark reversal in what could have been a promising uptrend in the middle of March, when the S&P 500 came out of correction territory.

S&P 500 slides to lowest level since September as stocks sell off before tariff rollout: Live updates Traders awaited "Liberation Day" on Wednesday, when the Trump administration's tariffs are scheduled to go into effect.

If you need a friend, get a dog. It's trench warfare out there, pal.

S&P 500 slides to lowest level since September as stocks sell off before tariff rollout www.cnbc.com/2025/03/30/s...

investors are already anxious about how Trump’s retaliatory tariffs will impact the broader U.S. economy, which is already showing some signs of weakness.

The president said both where the car parts come from and where the finished production occurs will “have very strong policing.”

“It’s pretty easy to do, if parts are made in America and a car isn’t, those parts are not going to be taxed or tariffed,” Trump added.

Stock futures fall as investors weigh Trump's auto tariffs: Live updates Stocks are clinging to marginal gains this week.

Shares of General Motors pulled back 7% in extended trading following Trump’s remarks, while Ford stock was 5% lower. Tesla stock gained about 1%.

Live: Stock futures fall as investors weigh Trump's auto tariffs: Live updates www.cnbc.com/2025/03/26/s...

These retailers can ride out a recession best because of 'membership lock-in,' says Bernstein Bernstein's view comes amid weaker-than-expected consumer confidence data reported on Tuesday.

Bernstein narrowed its list of recession-resistant e-commerce stocks on Tuesday to Amazon, Costco and Walmart.

Impeccable timing - the note and story was followed by another weaker-than-expected consumer confidence number.

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