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Rheinmetall shares surged over 25 percent in three days, surpassing 900 euros, driven by increased European defense spending amid U.S. calls for greater security responsibility. UBS raised its price target from 805 to 924 euros, reflecting a 33 percent increase in long-term earnings estimates for the armaments division. Other German defense firms like Hensoldt and Renk are also experiencing gains.
US Vice President J.D. Vance emphasized the need for a swift and lasting peace in Ukraine during a meeting with President Volodymyr Selensky, while trade tensions escalated under Trump’s new tariff policies. In the stock market, Airbnb surged over 14% after strong quarterly results, while Informatica's shares plummeted by more than 21% due to disappointing turnover. The Swiss Market Index is poised for a slight increase, driven by ongoing geopolitical developments and the upcoming earnings reports from major companies.
Elon Musk's recent media appearance alongside Donald Trump highlighted their alliance as they push for significant government reform, targeting agencies like USAID and the CFPB. While Musk claims to expose waste and inefficiency, concerns grow over his vast, unelected power and potential conflicts of interest, raising questions about the implications for essential services and public trust. As Trump faces backlash from GOP lawmakers wary of spending cuts affecting their constituents, the duo's actions could reshape the federal landscape amid ongoing legal challenges.
UBS investment strategist Maximilian Kunkel expresses optimism for equity markets, citing a decline in key interest rates and an increase in corporate profits as primary drivers for rising share prices. However, he acknowledges potential risks from US customs policy and rising interest rates.
Elon Musk has called for the impeachment of U.S. District Judge Paul Engelmayer after he issued a temporary order blocking Musk's DOGE team from accessing U.S. Treasury systems. Musk criticized the ruling as "insane," arguing it hinders efforts to combat fraud and waste, while state attorneys general contend it protects sensitive data from potential misuse. Legal experts assert that the judiciary has the authority to check executive power, emphasizing the importance of the rule of law in this case.
Defense Secretary Pete Hegseth has embraced Elon Musk's DOGE initiative to enhance efficiency and accountability within the Department of Defense, emphasizing the need for responsible spending amid America's $37 trillion debt. Hegseth aims to conduct thorough audits and eliminate wasteful expenditures, ensuring taxpayers understand how their money is utilized. Under his leadership, the Pentagon is set to undergo significant reforms, with a focus on transparency and fiscal responsibility.
Top Trump administration officials, including Elon Musk and Vice President JD Vance, are openly challenging the judiciary's authority as legal obstacles hinder the president's agenda. Following a federal judge's ruling that blocked Musk's access to sensitive Treasury records, they criticized judicial oversight, with Musk calling for the judge's impeachment. This pushback highlights a growing tension between the executive branch and the courts amid concerns over constitutional integrity and the role of unelected bureaucrats.
Elon Musk's DOGE team is set to visit the Bureau of Fiscal Service in Parkersburg, West Virginia, next week to gain read-only access to the US government's central accounting system, CARS. This follows a federal judge's restriction on broader access to Treasury's payment systems amid privacy concerns. Musk has claimed progress in discussions with Treasury officials regarding federal payment audits and compliance with a "do-not-pay" list.
Elon Musk has rehired Marko Elez, a former Department of Government Efficiency employee who resigned after racist social media posts went viral. Following a poll where 78% supported his return, Musk stated, "To err is human, to forgive divine," despite Elez's inflammatory remarks and controversial history. Elez had access to critical US Treasury payment systems, and his hiring aligns with Musk's strategy to recruit young, internet-savvy staff to federal agencies.
President Trump announced that Elon Musk will review nearly all federal agencies to cut $2 trillion in spending, while also supporting DOGE's access to personal data. During a news conference with Japanese Prime Minister Shigeru Ishiba, Trump discussed tariffs and a potential restructuring of Nippon Steel's deal to invest in U.S. Steel. The leaders emphasized the importance of U.S.-Japan relations and military cooperation in the Indo-Pacific region.
JD Vance
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Rheinmetall shares surge as UBS raises price target amid defense spending boost
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mixed market signals as tech shares falter and peace talks continue
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