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Stocks can come from their Tark Doldrums, but the US economy still faced a rocky road ahead. The Trump administration faces the latest rift on Tuesday, as one of the most influential President support, Elon Musk, criticizes a “disgusting disgusting.”
Despite fireworks, investors are optimistic in a gathered meeting between Trump and Chinese President XI Jinping, with White House Aides As likely to happen this week. S & P 500 Rose 0.58% on Tuesday, driven by Tech stocks NVIDIArose 2.80%.
Strainit relationship
After Supporting Trump’s Run for a second term with massive donations and campaign appearances, musk took the helm of the newly-created department of government efficiency (doge), a role that let the Tesla and the Spacex CEO embed himself in the White House. But because aggressive Trump tariff policies threaten his portfolio of companies, and high profiles among other members of the White House, Musk begins distance of himself from the president of a series of public interviews.
The vocal rejection of the musk in the so-called “Big, beautiful” bill “in an x post on Tuesday, however, marks the deepest separation between two leaders. In the last week, musk Office has partnered That he leaves government after his time as a “special employee” expired, returning to the leading Tesla, Excoke And the others who dare full-time.
In his post, Musk-who leads the cost-cuttering camp-cutting administration campaign that Trump’s bill is “full of legislators who voted.” The bill INCLUDES The swift tax cuts, reduced medicaid spending and food assistance, and increasing funds for military and migrant deposition. The price of the Tesla sees 0.46% on Tuesday and rose around 55% since a little $ 220 in April.
While Musk and Trump develop more blindly, investors look at another key relationship: Trump and Xi Jinping. US and Chinese governments have been repeated of tariffs and Export control The policies, causing stocks to see – seen in the past few months. But on Tuesday, stocks grow as investors expect a meeting to help ensure trading agreement between two countries, with Common to scale back tariffs for 90 days in the middle of May.
Trump crypto exploits are also returned to headings on Tuesday among reports that the President’s team Plan to launch A digital wallet in which users can store and buy crypocurrencies, including self-branded memocoin in Trump’s memecoin. Eric Trump and Don Jr., leading their father’s projects, denied any knowledge of the wallet. Bitcoin raises 0.38% at the time of publication.
This story originally shown Fortune.com
