Recession Cancelled

Now what?

Good morning,

The parade of earnings continues this week with some notable players stepping up to the mic.

Sony drops numbers today (brace for the inevitable PlayStation supply chain whining), along with Cisco (thrilling router updates are incoming), CoreWeave (the AI server company your tech bro friends suddenly won't shut up about), and Jack in the Box (proving fast food is recession-proof since forever).

Wall Street's recession fears have dramatically subsided with JPMorgan, Goldman, and Barclays all scaling back or eliminating recession calls.

The tariff pause effectively created a $300 billion consumer "tax cut" by reducing effective tariff rates from 24% to 14%.

Market sentiment has shifted rapidly. The S&P 500 is now positive for 2025 and marking the fastest rebound in over 40 years.

Trade Theater Continues

President Trump's Middle East tour rolls on, with traders obsessively decoding his every gesture and tweet for trade deal clues. The current US-China agreement dialed America’s …