Court of International Trade, DOGE, NVIDIA earnings, and more.

0:00 Speaker 1 Well, how are the market’s doing? But this is John Tarritt. It’s the end of the week, so give us. Give us your response to a President Trump on Friday and everything else that happened during the week.

0:14 Speaker 2 Well, good morning John. The big story of the week, of course, was that Court of International Trade. Now who knew that there even was a Court of International Trade? I only vaguely did, but I reckon most people didn’t.

0:25 Is actually based in Federal Plaza in Lower Manhattan, near to the stock My.

0:29 Speaker 1 Cousin used to run it about thirty years ago. His name was Judge Nicholas.

0:33 Speaker 2 To callis I should have known better than to question you, jore right exactly. Well, anyway, they ruled that President Trump overstepped his mark when it came to these international tariffs. Wall Street rose on this news because they thought, oh, that’s the end of the tariff target. Well not so, because the ramifications include the Appeal Court stepping in, and

0:53 I personally think this is all going to end up at the Supreme Court of the United States. That’s where I think this is headache. Scott Bessett, the Treasury is Securtary saying on Friday that China and those trade talks have halted. This despite the success of the talks in Geneva just a couple of weeks ago, which he was

1:08 in charge of on the tenth and eleventh of May. Dessin says he now needs President Trump to weigh in. President Trump says that he thinks the Chinese have totally violated that agreement from Geneva. A couple of weeks ago.

1:20 Elon Musk had his last day at DOGE. DOGE will continue under the executive order until twenty twenty six, but he is no longer special guest employee. He will, he says, stay on as a friend and advisor to President Trump. Course, there was a big event in the Oval office on Friday which was widely anticipated and widely attended and watched.

1:39 That on the same day that The New York Times published a rather damaging article about Musk’s behavior on the campaign trail, and he pushed back on that and saying is this the same New York Times that was involved in the Russia Russia Russia hoax? Anyway, Wall Street is happy to see Musk back at Tesla again at the

1:57 helm and Tesla shares a down about seven percent now a year to date, way off their worse. As for the markets last week, well they were I would say flat the way way off the lows of April. Also, personal income rows much more than expected. Wall Street like that Corporate News in video beat with revenue but missed

2:16 with earnings, very unusual for a company that’s only used to success. The myth was all tied up with restrictions on selling to China and locally. Jet Blue and United Airlines are getting together in a loose tie up. It’s not really a merger, and I think it has more to do with slots for both airlines at JFK and

2:36 at Newark. It kicks in in twenty twenty seven and John in the week ahead. Well, today Sunday, the Atlantic hurricane season begins, so stops in the insurance industry that trade on Wall Street will be watching that very closely.

2:48 It looks like it could be quite a violent hurricane season. Unfortunately, we get earnings later this week from Donna General and Dollar Tree. On Thursday, the European Central Bank gives us its latest rates decision, and the big one for US next week on is Friday. That’s the main job support the non farms jobs report, which is of course all

3:06 part of the inflation story and is once again the biggest single piece of economic data published anywhere in the world.

3:13 Speaker 1 Don Cherit, thank you for the update for all the American people for the week. It was a it was a good week. It wasn’t that bad. And thank you and we’ll catch up again soon.

3:24 Speaker 2 Thank you, John seeing this Sunday, thank you.