TLDR

MARKET RECAP → The S&P 500 (VOO) and NASDAQ (QQQ) both closed at record highs today for the second straight day. 🐂 📈 

📉 COREWEAVE SINKS POST LOCKUP → Shares plunged over 20% as insider selling hit after the IPO lockup ended, though AI demand keeps the long-term story alive.

⚠ GOLDMAN ECONOMIST WARNS ON TARIFFS → Trump’s 10% import tariff plan could lift core inflation by ~1% and cut GDP by 0.5%, creating new headwinds for growth and Fed policy.

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MARKETS

Market Snapshot

Today’s S&P 500 Heatmap

Notable Earnings This Week

EARNINGS

CoreWeave Sinks Post Lockup

📉 Stock Slumps Hard: CoreWeave (CRWE) fell over 20% after its IPO lockup expired, freeing early investors to sell. The drop erases a chunk of the AI infrastructure firm’s post-listing gains.

💰 Big Holders Head for the Exit: Venture backers and insiders—sitting on hefty paper profits—took advantage of the first window to cash out, sparking a surge in trading volume and price pressure.

🖥 AI Boom Still Intact: Despite the selloff, CoreWeave remains a key player in GPU cloud services, riding demand from AI developers. Analysts say fundamentals haven’t changed, but the stock could stay volatile near term.

ECONOMICS

Goldman Economist Warns on Tariffs

💵 Tariffs Seen as Inflationary: Goldman Sachs chief economist Jan Hatzius said Donald Trump’s proposed 10% universal import tariff could add roughly 1% to core inflation, reversing some of the disinflation seen over the past year.

📉 Growth Hit Likely: Hatzius warned the tariffs could also shave up to 0.5% off GDP in the first year, as higher import costs ripple through the economy and dampen consumer spending.

🌐 Markets Weigh Policy Risks: Investors are watching tariff rhetoric closely, with Goldman noting the policy could prompt retaliatory trade measures abroad and complicate Fed rate-cut decisions.

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