TLDR

MARKET RECAP → U.S. stocks surged Monday after the U.S. and China agreed to temporarily roll back tariffs during weekend talks in Switzerland, boosting optimism that a full-blown trade war—and potential recession—might be avoided.

U.S. AND CHINA SLASH TARIFFS IN 90-DAY TRUCE → 📉 The United States and China have agreed to a 90-day reduction in tariffs, with U.S. duties on Chinese imports dropping from 145% to 30%, and China's tariffs on U.S. goods decreasing from 125% to 10%.

PERPLEXITY EYES $14B VALUATION → Perplexity AI is closing in on a $500 million raise at a $14 billion valuation—tripling its value in under a year—as it races to out-search Google (GOOG), OpenAI, and anyone else with a chatbot and ambition. 🚀

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TODAY’S TOP NEWS

U.S. and China Slash Tariffs in 90-Day Truce

Significant Tariff Reductions Announced: 📉 The United States and China have agreed to a 90-day reduction in tariffs, with U.S. duties on Chinese imports dropping from 145% to 30%, and China's tariffs on U.S. goods decreasing from 125% to 10%. This agreement, reached after negotiations in Geneva, aims to de-escalate ongoing trade tensions and establish a framework for future discussions.

Markets Respond Positively: 📈 The announcement led to a surge in global markets. The Dow Jones Industrial Average (DIA) rose by over 1,000 points, the S&P 500 (VOO) increased by 3.26%, and the Nasdaq Composite (QQQ) climbed 4.35%. Tech and retail sectors experienced notable gains, with companies like Nvidia (NVDA), Meta (META), and Tesla (TSLA) seeing significant stock price increases.

Temporary Relief Amid Ongoing Negotiations: 🤝 While the tariff reductions provide short-term relief, both nations acknowledge that more complex negotiations lie ahead. The 90-day period is intended to facilitate further dialogue and address underlying trade issues, with the potential for more comprehensive agreements in the future.

TODAY’S TOP NEWS

Perplexity Eyes $14B Valuation

📈 Perplexity AI entered late-stage talks to raise $500 million at a $14 billion valuation, with Accel set to lead the round. That figure is below the startup’s original goal of up to $1 billion at an $18 billion valuation.

🔍 The AI search challenger has surged in valuation, tripling from $3 billion to $9 billion in 2024 and now aiming even higher. Its competition includes Google (GOOG), OpenAI, Microsoft (MSFT), and Anthropic—all sharpening their search tools.

🚀 Despite under $100 million in ARR, Perplexity is betting on Comet, its new AI agent web browser, to stand out. But with rivals launching real-time search features, the AI search race is heating up fast.

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• Quiver Quantitative — Quiver allows retail investors to tap into the power of big data with insights into things like congressional trades as they are disclosed

• Perplexity — Perplexity AI is an AI-chatbot-powered research and conversational search engine

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