Market Humdinger: Tariffs, Tech, and Tangled Lines

The SPY Trader

Fresh news and strategies for traders. SPY Trader episode #1211. Alright, alright, settle down folks, it's your pal Bubba Butters, comin' at you live from the Spy Trader podcast. It's 6 am on Tuesday, June 3rd, 2025, Pacific time, and we're here to break down what's shakin' in the market. Let's dive right into it. So, May was a real humdinger, best month since November '23! But June's startin' a little mixed, ya know? Monday saw the S&P 500 up 0.41%, Nasdaq doin' a jig with a 0.67% increase, and the Dow just barely wiggled up 0.08%. But futures are lookin' a little droopy this mornin', everything's down a tad. Now, let's talk sectors. Realty, Capital Markets, and PSU Banks were struttin' their stuff yesterday, all up over 2%. Tech's been lookin' strong, Palantir (PLTR) even hit a record high. Steel stocks? Woowee, they surged after President Trump floated doubling steel tariffs. ClevelandCliffs (CLF) and Nucor (NUE) were leading the charge there. But, uh oh, automakers like General Motors (GM), Ford (F), and Stellantis (STLA) took a tumble 'cause of those potential tariffs. Macrowise, things are a bit like a tangled fishing line. The OECD's trimmed growth forecasts 'cause of tariff worries. Plus, rising Treasury yields got folks gettin' antsy about U.S. fiscal policy. The market's expectin' a rate cut around September. Fed Governor Waller even hinted a cut's still possible this year. Trade tensions? Still a thing. China and the U.S. are still givin' each other the sideeye. And that tariff talk from Trump? The EU ain't too happy, says it could mess with negotiations. Speaking of Trump, he's supposed to chat with President Xi this week. Dollar General (DG) shares jumped after reporting good results and raising their guidance. On the flip side, Yes Bank shares took a nosedive after some rumors about Sumitomo Mitsui Bank but the bank has denied those discussions. Keep an eye on Nike (NKE) earnings, tariffs might be makin' 'em sweat. So, what's Bubba think? Well, the market's got a case of the 'maybe's'. There's opportunities in tech, especially AI. But I'd be real careful with anything that gets hit hard by tariffs, like those automakers. Watch those steel stocks close, they're jumpy with every tariff tweet. And remember, folks, keep an eye on those economic reports and central bank meetings. Diversify, my friends, diversify! Play it safe with some gold, Bitcoin, Swiss francs, or the Japanese yen. Now, I ain't no fortune teller, and this ain't financial advice. Just Bubba Butters givin' ya the lowdown. Talk to a real financial pro before makin' any big moves. This has been Spy Trader, y'all stay classy!