'The Golden Age Of America'

Trumps tariffs take on trade and it's no April Fool's joke.

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NEWS
‘The Golden Age Of America’

Source: Stocktwits live stream, AP News

Liberation Day is here, and it was as eventful as we all expected. The stock market added to today’s gains when Trump began speaking, but spiraled as more details came out of his mouth. Rip-roaring IPOs Newsmax and Waton Financial Limited came back down to earth today, falling 75% and 66% after running out of the next “greater fool” to keep their upside momentum going. We’ll see how we close out the week, but for now, investors and business leaders are not feeling tariffic. 👀 

P.S. Quick note from Tom Bruni. The language of my note yesterday confused some folks, so just to clarify, I will NOT be leaving Stocktwits lol. I am just handing off the newsletter writing so I can manage our team and grow our publishing offerings for you! You can always reach me anytime here. I appreciate your support! 💌 

Today's issue covers Trump’s offer of discounted tariffs, the market’s initial reaction to the macro shakeup, and other company-specific pops & drops. 📰

Here’s the S&P 500 heatmap. 10 of 11 sectors closed green, with consumer discretionary (+3.79%) leading and consumer staples (-0.24%) lagging.

Source: Finviz

And here are the closing prices: 

S&P 500

5,670

+0.67%

Nasdaq

17,601

+0.87%

Russell 2000

2,045

+1.65%

Dow Jones

42,225

+0.56%

COMPANY NEWS
Trump’s Discounted Tariff Chart Tanks Stocks 🙃 

The market rose ahead of President Trump's end-of-day announcement of 25% tariffs on all foreign-made automobiles, among other fresh reciprocal tariffs. Trump said the new levies would go into effect at midnight tonight, speaking from the Rose Garden.

“From 1789 to 1914, we were a tariff-backed nation. We were collecting so much money so fast we didn’t know what to do with it,” Trump said. Then, in 1913, “for reasons unknown,” they established the income tax. He also suggested that the Great Depression came because they moved away from the tariff system.

Since the beginning of NAFTA, Trump said the country lost 90,000 factories, 5 million manufacturing jobs, and trade deficits of $19 trillion.

If not the "Golden Age of America” that Trump said he was launching, it certainly was a golden event for quotes. Trump called the tariffs “kind” and said they were nicer than they should be.

He also pulled up a physical image that was handed to him by Secretary of Commerce Howard Lutnick. The graph showed different amounts for tariffs at a “discounted rate,” Trump said, including 46% on Vietnam and 32% on Taiwan. These are 50% discounts on what the Trump Administration says these countries charge us. He also said the ‘baseline’ tariff is 10% to help the U.S. rebuild.

Notably, Canada and Mexico were left off the list. We can only assume they’ll have their own handmade graphs making their debut soon. In the meantime, you can check out the image directly from The White House, which has all the numbers.

The stock market is in the toilet after hours, highlighting investor concerns (and confusion) about how these tariffs will actually be implemented and how the companies they’re investing in will navigate them. Our next story below covers all the major movers and shakers, so check that out below. 👇️ 

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