TLDR 🦅

MARKET RECAP → Stocks closed in the green on Monday as major tech stocks led the rally, kicking off the week on a strong note, while investors shrugged off President Donald Trump’s latest U.S. tariff threat.

TRUMP’S TARIFF PLAN SENDS STEEL AND ALUMINUM STOCKS SOARING → Steel and aluminum stocks jumped after Trump announced 25% tariffs on all imports, aiming to boost U.S. production. Cleveland-Cliffs (CLF) surged 18%, Nucor (NUE) rose 6%, and Alcoa (AA) climbed 2%, while analysts warned of rising costs and uncertain long-term demand. 🚀

TD BANK CASHES OUT SCHWAB → TD Bank (TD) is offloading its $15.4 billion stake in Charles Schwab (SCHW) as part of a strategic pivot after a record-breaking $3 billion U.S. regulatory fine.

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TODAY’S TOP NEWS

Trump’s Tariff Plan Sends Steel and Aluminum Stocks Soaring

🔹Trump’s 25% Tariff Announcement Shook Markets: President Donald Trump announced plans to impose 25% tariffs on all steel and aluminum imports, sending shares of major U.S. metal producers surging. The move aims to boost domestic production but raises concerns over higher costs for industries reliant on imports.

🔹Steel and Aluminum Stocks Rallied: U.S. steelmakers saw a sharp spike, with Cleveland-Cliffs (CLF) jumping 18%, Nucor (NUE) rising over 6%, Alcoa climbing 2%, and U.S. Steel gaining 3%. The tariff hike is expected to pressure foreign suppliers while benefiting domestic producers.

🔹Economic Impact and Market Reaction: The U.S. currently imports over 80% of its aluminum, with Canada supplying 70% of the raw material. JP Morgan (JPM) analysts projected higher aluminum prices and potential domestic supply increases, though long-term demand effects remain uncertain.

TODAY’S TOP NEWS

TD Bank Cashes Out Schwab Stake

💰 Major Sell-Off: TD Bank (TD) announced plans to exit its 10.1% stake in Charles Schwab (SCHW), worth $15.4 billion, as part of a strategic review following regulatory penalties. Schwab shares dropped 3.2% in premarket trading.

⚖️ Regulatory Fallout: The move followed TD’s $3 billion settlement with U.S. regulators over money-laundering violations, marking the largest bank plea deal in U.S. history. TD is under an asset cap and operational restrictions.

📉 Capital Reallocation: Newly appointed CEO Raymond Chun said TD will use C$8 billion of the proceeds for stock buybacks and reinvest the rest in core businesses. Schwab agreed to repurchase $1.5 billion worth of TD’s shares in a private transaction.

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