🚀 Chinese exports to the US down 34%

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Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. China’s exports to the U.S. plunged 34.5% in May, the steepest drop in over five years, amid lingering fallout from high tariffs. Despite the massive drop in exports to the US, China’s overall total exports rose 4.8% year-over-year, indicating that they have found alternative markets for their products. Imports from the U.S. also fell by over 18%, shrinking China’s trade surplus with America by over 40%. While Southeast Asia, the EU, and Africa helped offset some losses, sluggish domestic demand led to a broader 3.4% drop in overall imports. Analysts expect U.S.-bound shipments to rebound in June after a Geneva trade deal lowered tariffs mid-May, though tensions persist ahead of another round of high-stakes talks in London this week.

2. Robinhood shares dropped over 3% on Monday after being left out of the S&P 500 during its latest quarterly rebalancing, despite recent buzz and a 13% gain last week. The online brokerage had been seen as a strong contender for inclusion, with Bank of America naming it a top candidate, but S&P Dow Jones Indices opted to make no changes. This snub means Robinhood misses out on the buying surge that typically follows S&P 500 inclusions by passive investment funds. Still, Robinhood shares have doubled this year, riding a resurgence in both equities and crypto after years of post-GameStop turbulence.

3. Warner Bros. Discovery announced plans to split into two public companies by mid-2026, marking a major shift as the media landscape pivots further toward streaming. One company will house its movie studios and HBO Max under CEO David Zaslav, while the other—led by current CFO Gunnar Wiedenfels—will focus on global networks like CNN, TNT Sports, and Discovery. The move aims to give each business “sharper focus and strategic flexibility,” according to Zaslav. The decision follows similar moves by Comcast and reflects mounting industry pressure to adapt to declining cable viewership and increasing digital competition. WBD shares jumped over 9% on the news.

   Headlines

   1. The S&P 500 is within 3% of a new high after suffering significant losses early in Donald Trump’s presidency.

   2. Nvidia’s CEO, Jensen Huang, said that he is bullish on the UK and its investment in AI. He and his company plan to increase investments in the country.

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