⚡️ JUST IN: Trump issues statement after new Iranian drone attacks on Gulf countries.

Trump responded to the recent escalation involving Iranian drones targeting nations in the Gulf region.

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⚡️ JUST IN: Trump calls Fed Chair Powell a "disaster for America" and says interest rates are too high.

The 10Y Note Yield is approaching 4.50%, while the average rate for a new 30Y mortgage has risen above 6.5%.

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🛒 GameStop Offers $56B to Buy eBay

GameStop has proposed acquiring eBay for $56 billion, offering $125 per share.

GameStop shares have been meme-driven, rising on news like its Bitcoin purchase. Now it aims to buy the struggling eBay.

eBay trades at a 20% premium to the market.
GameStop, worth about $12 billion, is trying to buy a company roughly five times its size and has acquired 5% of eBay shares.

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📉 Hedge Funds Slash US Tech Exposure Sharply

Hedge funds posted their largest two-week cut in US tech exposure this decade, excluding early 2021 meme stock moves.

Long sales outpaced short covers by 1.5 to 1.

Nearly all subsectors fell, led by Semiconductors and Semi Equipment.

Hedge funds also sold Magnificent 7 stocks in four of five recent sessions, locking in big tech profits.

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⚡️ JUST IN: Hegseth says Iran ceasefire remains in effect.

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⚡️ JUST IN: US job openings reached 6.866 million in March, exceeding the 6.835 million estimate.

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⚡️ JUST IN: US services activity rose to 51.0 in April, below the 51.3 forecast and above the 49.8 prior reading.

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⚡️ JUST IN: Trump administration warned Iran ahead of a planned US operation to guide ships through the Strait of Hormuz, with officials saying Trump could order a resumption of war later this week if talks stall.

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⚡️ JUST IN: Trump said Iran knows what not to do, all eight of its small boats are gone, and none have passed through the Hormuz blockade.

He added Iran respects the US more than ever, unlike before, and declined to say if the US will arm Iranian civilians.

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🧾 What “national debt” actually means

This is not a credit card bill that a country has to pay off tomorrow. It’s the total amount a government has borrowed over time to fund spending beyond its tax income.

In practice, it works through bonds. Governments issue debt, investors buy it, and in return they get interest. That includes banks, funds, pension systems, and often the country’s own central bank.

The key point is not the size alone, but who holds it and how manageable it is. Strong economies can carry large debt because there is constant demand for their bonds and trust in their system.

So the number itself looks scary, but the real question is always the same: can they keep rolling it and servicing it without breaking confidence.

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⚡️ JUST IN: US and Iran near 14-point memorandum of understanding to end Iran War

US and Iran are close to finalizing a 14-point memorandum of understanding aimed at ending the Iran War and establishing a framework for a detailed nuclear deal. The agreement would include Iran committing to a moratorium on uranium enrichment lasting 12-15 years.

In return, the US would lift sanctions and release billions in frozen Iranian funds. Both sides would also remove restrictions on transit through the Strait of Hormuz. The deal would mark an end to the war and initiate a 30-day negotiation period for further details.

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⚡️ JUST IN: Trump said if Iran does not agree to a deal, bombing will start at a much higher level and intensity than before.

He added if Iran agrees, the epic fury will end and a highly effective blockade will allow the Hormuz Strait to be open to all, including Iran.

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⚡️ JUST IN: Trump says it is too soon to begin preparations for a peace deal signing with Iran.

US oil prices have risen back above $95 per barrel following the news.

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⚡️ JUST IN: Trump says the Iran war has a good chance of ending and he feels the US is closing in on a deal with Iran. He adds a possible Iran deal could be reached before China.

He also notes he felt a deal was near before and will see what happens this time.

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💰 Warren Buffett Warns on Markets and Dollar

Warren Buffett expressed disappointment with markets and concern about the US dollar.

At the Berkshire Hathaway meeting, he called the stock market a "church with an attached casino," saying "the casino has never been so crowded."

Buffett said he keeps $380 billion in cash because he understands current companies less and hasn't studied new industries for years, lacking an edge over younger specialists.

On the dollar, he warned America is "not insured" against runaway inflation. He said a real crisis could come suddenly, like the 1914 assassination that triggered WWI.

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⚡️ JUST IN: Iran’s Foreign Minister denies imminent deal to end Iran War after Axios report.

The statement was issued following the morning report claiming a deal was near. No confirmation or further details were provided.

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