Trump Secures Major Boeing Deals in Qatar; Market Rebound Slows

Market Performance and Economic Concerns

• 📉 The market's rebound is slowing due to concerns about stocks being at risk for new surprises and speculation that stocks have run too fast amid risks of a trade war and economic slowdown.
• 📊 The S&P 500 gained six points, the NASDAQ gained 137 points, and the Dow lost 89 points.
• 📈 The ten-year Treasury yield is at 4.53%, and the two-year yield is at 4.05%.

Qatar Deals and Boeing Orders

• ✈️ President Trump has secured deals totaling more than $243.5 billion with Qatar, laying the groundwork for a larger $1.2 trillion economic pledge.
• 📦 A significant part of this includes Qatar Airways purchasing at least 160 Boeing aircraft, which is described as the largest order in Boeing's history.
• 🛩️ Qatar Airways is also considering a smaller order of Airbus A350 aircraft.
• 📈 Shares of Boeing touched a one-year intraday high, rising about 6/10 of 1%.

Tech Deals and Chipmaker Performance

• 💻 Chipmakers, including Nvidia and Advanced Micro Devices, scored multibillion-dollar deals in Saudi Arabia.
• 💰 Mandeep Singh of Bloomberg Intelligence noted sovereign buyers discussing multi-year purchases, including an 18,000 GPU purchase for Nvidia, amounting to close to $1 billion in revenue.
• 🚀 Shares of NVIDIA rose 4.2% and Advanced Micro Devices rose 4.7% in regular trading sessions.

US Tax Policy and Inflation Concerns

• 🏛️ House Republicans are fashioning a bill to cut taxes and spending, with House Speaker Mike Johnson discussing the deduction for state and local taxes (SALT).
• 💰 Proposals include increasing the SALT deduction cap to $80,000 for couples and $40,000 for individuals, potentially requiring concessions.
• ⚠️ Federal Reserve Vice Chair Philip Jefferson stated that tariffs and related uncertainty could slow growth and boost inflation, potentially interrupting disinflation progress.
• 🚗 Former New York Fed President Bill Dudley compared the Fed's situation to driving a car in a thunderstorm, needing to put it on autopilot and wait for the weather to clear.

Congressional Testimony and Budget Cuts

• 🎤 Robert F. Kennedy Jr. testified before Congress, facing questions about the Trump administration's refusal to spend all of last year's appropriations and sharp budget cuts.
• 🔬 Ranking Democrat Rosa DeLauro questioned Secretary Kennedy about research funds for the National Institutes of Health (NIH), with the White House proposal indicating very large cuts.