Good morning, you're listening to Markets Desk.
The Trump-Xi summit is commanding attention across every asset class this morning, as traders weigh what a high-stakes meeting between the world's two largest economies could actually produce. Analysts expect the two leaders may announce agricultural purchase commitments or Boeing aircraft orders from China, but the real market-moving question is whether any meaningful tariff relief emerges — because right now, consumers are absorbing the full cost of those duties, and that pressure is showing up in sentiment data.
Turning to deal flow, eBay has flatly rejected an unsolicited takeover bid from GameStop CEO Ryan Cohen, who put a fifty-five-point-five billion dollar offer on the table earlier this month. eBay's chairman called the proposal neither credible nor attractive, which is about as clean a dismissal as you'll hear in corporate boardrooms. Cohen has been aggressive in capital deployment, but this one appears dead on arrival.
And in the AI debate that won't quit, a dot-com era survivor is pushing back on the nineteen ninety-nine crash comparisons, arguing the current buildout more closely resembles nineteen ninety-seven — earlier innings, real infrastructure spending, but still elevated risk. His advice to investors: hold more cash than feels comfortable, because the parabolic move in chip stocks deserves respect and caution in equal measure.
That's the tape. Markets Desk, signing off the floor.
