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NEWS
Mission Accomplished

George W Bush declaring victory a tad too early – tenor

The market flew after the White House announced a tariff pause 2: electric bogaloo. Struck by Bessent in Geneva, Trump announced that China has agreed to open its markets to U.S. businesses and instituted a 90-day tariff reduction— U.S. tariffs will be 30%, down from 145%, and China will cut tariffs from 125% to 10%. Treasury Secretary Scott Bessent emphasized that talks will continue.

If the tariffs continue to come down, more is worse than none, and investors will watch CPI inflation data tomorrow morning for any uptick. Last month’s CPI matched the lowest YoY inflation change since 2021. Retail giants Deere and Walmart are reporting on Wednesday, and their results might show changes to consumer demand in anticipation of the trade war that just cease-fired. 👀

Today’s issue covers NRG Flew, and it wasn’t even because Trump, Stocktwits launched cryptotwits, and China and the U.S. are on speaking terms again. 📰

Here’s the S&P 500 heatmap. 10 of 11 sectors closed green, with consumer discretionary (+5%) leading and utilities (-0.6%) lagging.

S&P 500 Map – finviz

And here are the closing prices: 

COMPANY NEWS
NRG Flew And It Wasn’t Even Because Of Trump

NRG Energy  $NRG ( ▼ 1.85% ) surged after announcing a transformative $12 billion deal to acquire natural gas generation facilities from LS Power. Despite announcing on a major tariff pause day, the stock climbed to the highest gainer position on the S&P 500, even while other utilities and less tariff-related stocks floundered.

The acquisition will add 18 natural gas-fired facilities to the Texas-based energy generator, boosting its capacity by roughly 13 gigawatts. CEO Larry Coben emphasized that the deal will enable the company to position itself better in a dynamic energy market.

Beyond the immediate boost in capacity, the move is seen as a signal of confidence in the long-term outlook for energy demand. It is one of many power generators that have soared in the past year as AI and database companies soak up as much power as possible. ⚡️ 

NRG Energy Inc. – Stocktwits users are back to being ‘extremely bullish’ on the stock

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TRADE
China and the U.S. Are On Speaking Terms Again 

Treasury Secretary Scott Bessent signaled that fresh negotiations between the U.S. and China are in the works following a recent 90‑day pause on tariffs. Speaking after meetings in Geneva, Bessent noted that both sides are gearing up to engage in further talks to craft a more comprehensive trade agreement.

This next round of discussions will address persistent non‑tariff barriers affecting key sectors like semiconductors, steel, and pharmaceuticals. Though the announcement is a bit comedic in an ironic sense, Bessent was sure to communicate that the run-up of reciprocal tariffs between the two superpowers was never a part of the plan.

Amazon $AMZN, Tesla $TSLA, and other “Magnificent Seven” stocks surged after the U.S. and China agreed to a 90-day tariff pause.

Magnificent Seven ETF – Stocktwits users became ‘bullish’ on the world’s largest companies

While the 90‑day pause has provided breathing room, both countries want to build a more balanced, sustainable trade framework that tackles deeper, strategic issues. Bessent has said this week that investors should not expect tariffs under 10%. The White House also kept in place a 20% flat tariff as China sources out and hopefully halts the exports of chemicals used to make fentanyl.

Some retail stocks like $RH ( ▼ 4.3% ) and $NKE ( ▼ 1.06% ) flew on the news. Stocks that sell cheaper Chinese goods like $PDD ( ▼ 0.47% ) still climbed even after Trump confirmed that the de minimis executions for goods under $800 had not come back just yet. 🛍️ 

China’s International Trade Representative Li Chenggang mentioned that a statement providing more details on the negotiations would be released soon but did not specify when it would come out.

“As we say back in China, if the dishes are delicious, then timing is not a matter,” Chenggang said. 🥗 

STOCKS
Other Noteworthy Pops & Drops 📋️ 

General Motors $GM ( ▼ 0.3% ) appointed Aurora co-founder Sterling Anderson as its new chief product officer, overseeing the full lifecycle of gas and electric vehicles. Anderson, who previously led Tesla’s Autopilot program, will join GM on June 2 at its Mountain View Tech Center in California.

Chegg $CHGG ( ▲ 3.83% ) announced plans to lay off 22% of its workforce, impacting 248 employees, as AI-driven education tools disrupt the industry. The company expects cost savings of $45M–$55M in 2025 and up to $110M in 2026, with restructuring efforts including office closures in the U.S. and Canada. Despite the layoffs, Chegg shares climbed over 6% following the announcement.

Stellantis $STLA ( ▼ 1.19% ) confirmed plans to begin production of the hybrid Fiat 500 at its Mirafiori plant in Turin this November. The company aims to strengthen its Italian manufacturing footprint, with full-scale production expected to exceed 100,000 units annually. Retail sentiment remains neutral.

Polestar $PSNY ( ▲ 10.58% ) reported a Q1 net loss of $190M, narrowing from $276M a year earlier, as revenue surged 84% YoY to $608M. The company achieved a positive gross margin of 6.8%, up from -7.7% last year, driven by higher-margin models and cost-cutting measures. Retail sales jumped 76% to 12,304 vehicles, with Polestar 4 leading demand.

Rivian Automotive Inc $RIVN ( ▼ 0.34% ) shares surged after multiple brokerages revised their price targets upward. Bernstein increased its target from $6.10 to $7.05 while retaining its “Underperform” rating. Stifel lifted its price target from $16 to $18, maintaining a “Buy” rating.

Apple $AAPL ( ▼ 0.28% ) climbed after Trump spoke with Apple CEO Tim Cook as the company considers raising iPhone prices later this year. Apple is reportedly weighing price increases for its fall lineup but aims to avoid linking them to tariffs. The company has been stockpiling inventory ahead of potential trade disruptions, while Cook reaffirmed Apple’s commitment to expanding U.S. manufacturing.

Merck, Pfizer, and Eli Lilly $LLY ( ▼ 4.09% ) , rebounded after President Trump signed an executive order aimed at lowering prescription drug costs. The order mandates that U.S. drug prices align with the lowest rates paid by other developed nations, potentially cutting costs by 30% to 80%.

WHAT’S ON DECK
Tomorrow’s Top Things 📋

Economic data: NFIB Business Optimism Index (6:00am) CPI (8:30 AM), Total Household Debt (11:30am). 📊

Pre-Market Earnings: JD.com ($JD), Sea Limited ($SE), On Holding ($ONON), CyberArk ($CYBR), Intuitive Machines ($LUNR), Under Armour ($UAA), Paysafe ($PSFE), Altimmune ($ALT). 🛏️

After-Hour Earnings: Nu Holding ($NU), Karman Space & Defense ($KRMN), Oklo ($OKLO), Grail ($GRAL), Gevo ($GEVO), Inovio Pharma ($INO). 🎧

P.S. You can listen to all of these earnings calls and more straight from the Stocktwits app or website. You’ll find them on the calendar page and individual symbol pages once they’re set to begin! We’ll see you there. 👍

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🏠️ Traders Scale Back Bets on Fed Interest-Rate Cuts

🛒 Despite China trade deal, Trump maintains 120% tariff on cheap goods

👀 Trump’s China deal leaves world exposed to trade policy lottery

✈️ FAA proposing Newark flight cuts, says unable to handle current volume

🦅 Trump says China will ‘open up’ to U.S. businesses, suspend trade barriers

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