Trump's tax bill just one of the catalysts for new bull market
After US stocks (^DJI, ^IXIC, ^GSPC) ended Friday's session in positive territory and capping off the trading week with gains, Baird Investment Strategist Ross Mayfield joins the Market Domination Overtime team to share his reactions to the May jobs report and the signals he's seeing that the market has moved into a new bull market from April 8 lows sparked by President Trump's "Liberation Day" tariffs.
To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
33 minutes ago
- Yahoo
China Matters' Feature: Low-altitude Economy -- A New Industry Reshaping Global Transportation
BEIJING, June 10, 2025 /PRNewswire/ -- From electric vehicles (EVs) to the 4,500-kilometer high-speed railway network that accounts for two thirds of the global total, China is forging a connected world with its outstanding strength. In the field of transportation, China is pioneering a brand-new frontier: the low-altitude economy. To put it in a simpler way, vehicles can transform into flying machines to facilitate people's daily travels. In the future, flying taxis, delivery drones, and airborne adventures are poised to redefine transportation. With the emergence of such companies as DJI drone, China accounts for over 70% of global civilian drone sales. EHang, a Guangzhou-based tech pioneer, has become the world's first company to secure full aviation certifications for its passenger-carrying flying vehicles. The market value of China's low-altitude economy skyrocketed to over $70 billion in 2023, achieving an impressive annual growth rate of 33.8%. What's more, a new low-altitude route between Shenzhen and Zhuhai cuts the three-hour drive down to a 20-minute flight. Faster, more affordable, and with Instagram-worthy views: this is how urban mobility is redefining itself. None of this would be possible without cutting-edge technology. With 5G-Advanced networks tracking aircrafts in real-time, drones can now help plant crops, deliver packages, aid disaster relief operations. This sector's rapid growth highlights its potential to reshape logistics, tourism, and emergency services, signaling vast economic opportunities. Technological advancements in renewable energy, Al, and telecommunications have accelerated the development of low-altitude technologies, while government support and private investments fuel the progress of the entire industry. By integrating radar systems, 5G networks, and Al-driven monitoring, China aims to build a secure, efficient low-altitude ecosystem for future generations. Click the link below to know more about this new technology. Stay tuned for more exciting content coming soon. YouTube Link: View original content to download multimedia: SOURCE China Matters Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
38 minutes ago
- Yahoo
Ditched by Trump's EEOC, job applicant advances bias lawsuit against Sheetz
This story was originally published on HR Dive. To receive daily news and insights, subscribe to our free daily HR Dive newsletter. A Black job applicant who alleged that gas station chain Sheetz disproportionately screened out Black, Native American, Alaskan Native and multiracial applicants moved to continue his case June 5 after the U.S. Equal Employment Opportunity Commission abandoned it. EEOC filed a class-action lawsuit in April 2024 alleging that Sheetz maintained a longstanding practice of screening all job applicants for past criminal convictions and rejected those with such records. This practice violated Title VII of the 1964 Civil Rights Act, EEOC said in a press release, because it had a disparate impact on applicants of certain racial backgrounds. However, the agency moved to have the case dismissed last week because it determined that the disparate-impact claims would conflict with President Donald Trump's April 23 executive order directing agencies to cease enforcement of such claims. EEOC asked the court to defer dismissal of its claims by 60 days to allow the commission to notify class members so that they could obtain private representation. The legality of Trump's executive order on disparate-impact claims proved contentious, with one of EEOC's own administrative judges calling the order 'highly illegal.' But the June 5 filing in the U.S. District Court for the Western District of Pennsylvania is one of the first examples in which the order has been put into practice. Trump said the end of disparate-impact liability enforcement was necessary because it inhibited businesses from hiring applicants on the basis of merit and skill. He also said that disparate-impact liability is unconstitutional and 'threatens the commitment to merit and equality of opportunity that forms the foundation of the American Dream.' The push to end disparate-impact liability is one of the goals stated by the conservative Heritage Foundation in its 'Project 2025' presidential transition document. The organization wrote that the concept should be thrown out because under disparate-impact theory, 'discriminatory motive or intent is irrelevant; the outcome is what matters. But all workplaces have disparities.' That logic has been met with resistance by former Democratic officials of the U.S. Department of Labor and EEOC, who said in May that disparate-impact liability is explicitly outlawed under Title VII and has been upheld by U.S. Supreme Court precedent. The former officials cautioned employers that they should avoid following Trump's executive order so they do not violate federal laws. 'Disparate impact liability is a necessary element of advancing equal opportunity for all, consistent with America's national commitment to equal justice,' the officials wrote. In a press release, plaintiff-side firm Outten & Golden, which is partly representing the job applicant in the Sheetz case, said EEOC had spent nearly a decade investigating the claims at issue and had found a basis to allege evidence of systemic discrimination. 'Our client has a right to be judged on his qualifications, and not to be denied a livelihood by policies that exclude people with stale convictions that are unrelated to the job,' said Ben Geffen, senior attorney at the Public Interest Law Center and a co-representative for the plaintiff, said in the press release. 'When the government steps back, we step in. We will not allow political interference to wipe out hard-won legal protections.' A similar dynamic played out following EEOC's abandonment of several lawsuits it filed on behalf of transgender workers alleging discrimination following an executive order from Trump. Advocacy groups have since filed to intervene on behalf of plaintiffs in those cases. Recommended Reading Shell Oil did not discriminate in hiring decision, 5th Cir. says
Yahoo
an hour ago
- Yahoo
Cybertruck Sales Are So Bad That We Gasped
There's little left for us to say that can further embarrass the Tesla Cybertruck, a vehicle that was supposed to be the culmination of Elon Musk's genius. And maybe this is what Musk's genius looks like. The luckless EV has faced eight recalls so far, and its trademark stainless steel panels, when they aren't flying off, have demonstrated that they're better at serving as a shiny canvas for spray paint than as the armor of an "apocalypse-proof" tank. But somehow, its already dire sales are now even worse than expected. In the entire first quarter of 2025, Tesla has managed to sell just 7,100 Cybertrucks in the US, according to registration data from S&P Global Mobility cited by the Wall Street Journal. It's an astounding and rapid plummet, when in the fourth quarter of 2024, Tesla sold close to double that amount, with roughly 13,000 Cybertrucks. A lot changed between those two quarters — like Musk embarking on a spectacular speedrun to destroy his and Tesla's image, mainly by leading the Trump administration's charge to gut the federal government. These actions, and Musk's personal espousing of far-right politics, sparked worldwide protests against him and his automaker. It has yet to recover, with Tesla's total sales in the US dropping nine percent in the first three months of this year. There are other factors at play, too, like the success of its Chinese competitors and its aging vehicle lineup, but the imploded brand reputation looms largest. And more than any other of its vehicles, the Cybertruck for one reason or another has embodied the public's souring sentiment on Musk, becoming prime targets for vandalism. They're also notoriously unreliable, sold for nothing less than $100,000 before cheaper $70,000 versions were desperately rolled out, and launched with a range over 150 miles shorter than what Musk promised. In all of 2024, the company sold fewer than 40,000 Cybertrucks. The most recent quarter's tally makes Musk previous boast that the automaker would sell up to half a million Cybertrucks per year even more ridiculous. Is it any wonder that buyers are staying away? So few people want to buy these things that in May Electrek reported that Tesla was sitting on an inventory worth $800 million of 10,000 unsold Cybertrucks — an embarrassment as much as it is a logistical headache. Dealerships have resorted to dumping their glut of the unorthodox pickup trucks in deserted parking lots. The pain isn't likely to stop anytime soon. Trump's tariffs, which factored into Musk's fallout with the president, will drive up the costs of car parts. The administration also plans to axe tax credits for purchasing EVs, demolishing a huge incentive for American consumers to buy from automakers like Tesla. More on Tesla: Terrifying Footage Shows Self-Driving Tesla Get Confused by the Sun, Mow Down Innocent Grandmother Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
