Closing Bell Closing Bell Overtime: Commerce Secretary Lutnick On Trade Negotiations; Axon CEO On Strong Earnings 5/8/25
May 8, 2025
Howard Lutnick, the U.S. Commerce Secretary, shares insights on crucial trade negotiations, emphasizing the impact of new chip export policies and the U.S.-UK deal framework. Alesia Haas, CFO of Coinbase, discusses the cryptocurrency landscape, including the company's outlook amidst rising Bitcoin prices and regulatory challenges. The conversation also highlights the implications of tariffs, AI advancements, and market reactions to various earnings reports, all while exploring innovative strategies in trade and finance.
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Market Eager for Trade Optimism
- The market appetite for positive trade news is huge despite modest deals.
- Optimism fades quickly when anticipated major deals, especially with China, don't materialize.
Earnings Beat Expectations but Caution Advised
- Q1 earnings have been better than feared, notably in tech sector with increased CapEx.
- Tariff-related damage may surface in Q2 earnings, warranting cautious investor enthusiasm.
Affirm as Consumer Spending Indicator
- Affirm's performance signals consumer spending could slow, especially secondary lending.
- Fourth quarter guidance dip may reveal future consumer credit caution.