Tech Tariff Relief, US-Iran Nuclear Talks, and Market Updates

US-Iran Nuclear Program Talks

• 💬 Iran reported that initial formal talks with the Trump administration regarding its nuclear program were constructive.
• 🤝 Both sides agreed to reconvene next week, discussing Iran's nuclear program and the lifting of sanctions in a respectful atmosphere.
• 📈 The White House characterized Saturday's discussions as a step forward.

Tech Tariff Relief

• 📱 President Trump's administration has exempted smartphones, computers, and other electronics from reciprocal tariffs.
• 📉 This provides a significant reprieve for global technology manufacturers, including Apple, by excluding these products from the 125% China tariff and the 10% global tariff.
• ⚠️ The exclusion might be temporary, as the wording suggests these products could face tariffs later.
• 🇨🇭 President Trump promised the Swiss counterpart to re-examine levies imposed on Switzerland, acknowledging the current 41% tariff as substantial.

Business and Market News

• 💰 Buyout firm KKR is reportedly nearing a deal to acquire post-trade services firm OSTTRA for approximately $3 billion.
• 📊 This transaction indicates that companies resilient to tariffs can still be sold, despite previous reports of a different potential buyer.
• 📈 The U.S. equity market experienced its best week since November 2023, with the S&P 500 index rising 5.7% for the week.
• 📉 Stocks rebounded on Friday, with the S&P jumping 1.8% following a report that the Federal Reserve is prepared to stabilize markets.

Sports Update

• ⛳ At the Masters, Justin Rose held a one-shot lead at eight under overall after the third round.