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Global Stock Market Rally:
* Global stock markets are rising, largely due to increased hopes for a US-China trade deal.
* Rupert thompson (IBOSS) notes the trade news as the primary driver, but cautions that underlying US-China tensions remain. He also points to President Trump’s unexpected tariff plans against Canada as evidence of his “erratic” trade behavior.
* US Treasury Secretary Scott Bessent indicated that further customs duties on Chinese goods are currently on hold,and expressed optimism about upcoming talks with China.
* Wall Street indices reached a new record high on Friday following weaker-than-expected inflation figures.
Meme Stock Activity:
* Last week saw significant volatility in “meme stocks,” notably Beyond Meat.
* gamestop shares rose over 4% in pre-trade Monday.
* This rise was triggered by a peculiar post from the White House’s official X (formerly Twitter) account, featuring a statement from GameStop and an AI-generated image of Donald Trump as a “Halo” character.
The article highlights a complex interplay of factors influencing the market – trade negotiations, geopolitical uncertainty, and the unpredictable nature of meme stock movements fueled by social media.
