NEWS
Flip A Coin. Heads, The Market's Green

It was the best week for the market since 2023, if you don’t zoom out. The S&P 500 closed up more than 5%, but the U.S. Dollar Index climbed 3%, and the U.S. 10-year yield climbed 11%. The tariff trouble started with a crazy chart last week in the Rose Garden, and despite a pause, Q2 is not looking rosy. 👀

Today's issue covers what happened this week, what we learned, and the big bank earnings keeping us calm. 📰

Here’s the S&P 500 heatmap. All sectors closed green, with tech (+3.98%) leading and real estate (-0.54%) lagging.

And here are the closing prices: 

STOCKS
What Even Happened This Week 🙊 

Years ago, when it was last weekend, financial Twitter flew at a breakneck speed. Concepts like Black Monday 2.0 and “the r-word” flew off the shelves. China responded overnight with tariffs of its own, and one thing was for sure: Monday would be a bloodbath. Instead, traders looked for any glimmer of hope to keep prices higher.

A misquoted tweet about a 90-day tariff pause sent markets flying $6T, only for the White House to call it "fake news," reversing gains. By the close, the S&P 500 dipped just 23 bps—a painfully slow crawl down. 🦀 

Larry Fink of BlackRock spoke Monday at the Economic Club of New York like the great American Experiment had ended. He said we were in a bear market recession and that the way forward was down, and FOMC would not help.

On Tuesday, real tweets hit hard: the White House announced 104% tariffs on China, sinking markets further. Bond traders dumped long-term notes, driving 10-year and 30-year yields to record fast climbs not seen in decades.📉

On Wednesday, Jamie Dimon all but declared a recession on Fox Business. Hours later, Trump called it a great day to buy and soon flipped the switch to pause tariffs.

The Walter Bloomberg tariff pause from Monday actually came true after 1 p.m. ET, and major indices soared: The S&P 500 flew +9.52% and added $4.3T to its market cap, the Nasdaq hit +12.16%, in its best day since 2001, the Dow Jones saw its biggest one-day point gain in history. 🤑 

Then, Thursday morning came, and the market fell as reality set in. The fewer tariffs, the better, but Trump’s 90-day 10% tariffs, plus 145% on China and 25% on key trading partners, left U.S. trade taxed at record highs while bond sell-offs continued.

If overlooked, tariffs risk no resolution before the deadline, and 75 nations will scramble to negotiate.

Friday, the market flipped again as large financial institutions printed results without giving very positive guidance. China increased its tariffs to 125%, called the U.S. a “joke,” and said they were through going tit-for-tat. Though markets ended the week positively, investors were left with major lessons from a very long week. 😮‍💨 

PRESENTED BY STOCKTWITS
The Weekend Rip: Special Guest Cem Karsan 🤩 

Markets rip higher, volatility surges, and Ben cashes in on fart coin as the Weekend Rip crew dives into tariffs, debt chaos, and a looming generational reset.

• Trump’s tariff pause shocks markets—and Ben’s short blows up. 🔹

• Fart coin moons, SPY pops, and Ben spirals into Zyn-fueled coping. 🚀

• Cem predicts 10% yields, stagflation, and a market breakdown. 📉

• Japan’s backchannel diplomacy props up America’s debt game. 🗾

• Millennials turn to Bitcoin as supply-side economics collapses. ₿