Bessent calls anti-tariff Reagan ad ‘psy-ops’ and says the U.S. rescue of Argentina still counts as ‘America first’ because it helps an ally

Novartis has announced its acquisition of Avidity Biosciences for $12 billion, marking a significant move in the biotechnology sector. This deal is expected to enhance Novartis's portfolio and strengthen its position in the pharmaceutical market, particularly in innovative therapies. The acquisition highlights the growing trend of large pharmaceutical companies investing in biotech firms to access cutting-edge technologies and treatments, which could lead to improved patient outcomes.

Gold prices have taken a hit as the US and China move closer to a trade agreement, reducing the demand for gold as a safe haven. This marks the first weekly drop for gold since mid-August, indicating that the recent surge in precious metals may have been too rapid. This development is significant as it reflects changing market dynamics and investor sentiment, which could impact future trading strategies.

Oil prices are on the rise as positive developments in US-China trade negotiations enhance the outlook for energy demand. This is significant because a stronger demand for oil can lead to increased economic activity and stability in the energy market, benefiting investors and consumers alike.

South Korean President Lee Jae Myung has expressed concerns that negotiations with the U.S. regarding a significant $350 billion investment pledge are at a standstill. This impasse raises doubts about finalizing a trade deal before the upcoming APEC summit, where President Trump is expected to be present. The outcome of these talks is crucial as it could impact economic relations between the two nations and set the tone for future collaborations.

US stock futures and oil prices are on the rise as signs emerge that a trade deal between the US and China is nearing completion. This positive development has sparked a rally across various assets, including stocks and commodities like copper, while currencies linked to China, such as the Australian dollar, are also benefiting. The news is significant as it suggests a potential easing of trade tensions, which could lead to improved economic conditions globally.

Argentina's recent elections highlight the challenges facing the Milei coalition, which, despite a decent performance, is unlikely to resolve the country's ongoing monetary issues. This situation is significant as it reflects broader economic instability and the potential impact on international relations, particularly with figures like Trump influencing global perceptions.

China's commitment to make substantial purchases of U.S. soybeans is a positive development for the agricultural sector, especially as it helps avoid the looming threat of a 100% tariff. This news is significant as it not only supports American farmers but also stabilizes trade relations between the two countries, fostering a more cooperative economic environment.

Argentina is gearing up for a pivotal midterm election that could significantly impact the political landscape, particularly for Javier Milei, a prominent candidate. This election is crucial as it reflects the public's sentiment towards current policies and the direction they want for the future. With economic challenges looming, voters are eager to express their opinions, making this election a key moment in Argentine politics.

Australia has initiated legal proceedings against Microsoft, alleging that the tech giant misled approximately 2.7 million customers regarding its products and services. This case is significant as it highlights the ongoing scrutiny of large corporations and their accountability to consumers, potentially setting a precedent for how tech companies communicate with their users.

Dow futures surged by 300 points as optimism grows over a potential ceasefire in the U.S.-China trade war. This positive momentum is further fueled by Wall Street's anticipation of another Federal Reserve rate cut and upcoming earnings reports from major tech companies like Meta, Microsoft, and Alphabet. With Apple and Amazon also set to report soon, investors are hopeful that these earnings will reflect strong performance, which could bolster market confidence and economic stability.

Perseus Mining has reported strong gold production in its Q1 2025 earnings call, showcasing the company's robust operational performance. This positive trend is significant as it reflects the company's ability to navigate market challenges and capitalize on opportunities, which could lead to increased investor confidence and potential growth in the mining sector.

POET Technologies has successfully raised $150 million through a registered direct offering, marking a significant milestone for the company. This influx of capital is expected to bolster its growth initiatives and enhance its technological advancements, which is crucial in the competitive tech landscape. Investors are optimistic about the potential returns, making this a noteworthy development in the tech sector.

Walmart's collaboration with OpenAI to integrate AI-powered shopping into ChatGPT marks a significant shift in the retail landscape, directly challenging Amazon's dominance. This partnership not only enhances the shopping experience for consumers but also sets a new standard for how retailers can leverage technology to improve search and discovery. As AI continues to evolve, this move could reshape competition in the retail sector, making it an exciting development for both companies and shoppers alike.

UK Chancellor Rachel Reeves is heading to Saudi Arabia to push for a trade deal with Gulf states, aiming to enhance the UK's economic growth ahead of her important budget announcement. This visit is significant as it highlights the UK's commitment to strengthening international trade relationships, which could lead to increased investment and economic opportunities.