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Dow drops 115 points as S&P 500’s six-day rally ends
GameFi Guides

Dow Jones up 200 points as jobs data outshines trade fears

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U.S. stocks rose on Tuesday as the strong jobs report outweighed the OECD warning on the effects of the trade war.

Strong jobs data has boosted U.S. stocks, reversing earlier declines. On Tuesday, the Dow Jones index rose 0.5% or 209 points, while the S&P 500 gained 0.52%. The tech-heavy Nasdaq rose the most at 0.81%.

Stocks reversed declines from due to positive economic data. The Job Openings and Labor Turnover Survey update revealed that jobs openings rose in April, with 7.39 million new jobs at the month. This was an unexpected result, especially as U.S. “Liberation Day” tariffs took effect.

At the same time, hiring rates rose as well, and the number of available jobs to unemployed workers reached parity at 1. Overall, the report shows that the labor market remains strong. It also sets the stage for the report by the Bureau of Labor Statistics, set to release on Friday.

OECD warns about tariffs effects

Earlier on Tuesday, the OECD lowered its outlook on global growth, citing the effects of U.S. tariffs. According to the Organization for Economic Cooperation and Development, the global economy will grow by 2.9%, lower than the 3.3% last year.

The slowdown will impact the U.S., Canada, Mexico and China in particular, OECD expects. These are the countries most economically tied to U.S., and its major trading partners. At the same time, China is expected to suffer particularly under U.S. tariffs.

The U.S. economy is projected to grow just 1.6% in 2025, compared to 2.8% in 2024. At the same time, the organization warned about the inflationary effects of the tariffs. However, global inflation is expected to drop from last year, from 6.2% to 3.6% in 2025.

Lower commodity prices, largely a result of a slowdown in global demand, will contribute to lower consumer inflation.



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US markets close green as Trump tariff drama muddies outlook
Crypto Trends

Dow inches higher, Nasdaq gains 0.67% despite renewed trade tensions

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U.S. stocks ended higher on Monday, showing resilience despite rising trade tensions between Washington, Beijing, and Brussels. 

The Nasdaq Composite climbed 0.7%, while the S&P 500 added 0.4%. The Dow Jones Industrial Average posted a marginal gain of less than 0.1%.

The uptick came after China pushed back against President Trump’s accusation that it had breached the trade truce struck earlier this year. 

Beijing blamed the U.S. for escalating tensions by tightening export controls on AI chips and restricting visas for Chinese students. 

Meanwhile, Treasury Secretary Scott Bessent expressed confidence that President Trump and Chinese President Xi Jinping would resume talks soon.

European officials also criticized the U.S. over plans to double tariffs on steel and aluminum to 50% starting Wednesday, warning of potential retaliatory duties. A European Union trade delegation is now in Washington to address the issue.

Energy rally 

Despite the geopolitical friction, investor sentiment was buoyed by a rally in the energy sector. The S&P 500 Energy index rose 1%, driven by a 2.8% jump in U.S. crude-oil prices following a drone strike by Ukraine on Russian military targets. Additionally, OPEC+ announced a supply increase set for July, which further fueled gains in oil and copper futures.

Treasury yields moved higher, with the 10-year yield rising to 4.461% and the 30-year reaching a key technical level. The dollar index weakened, while the euro, pound, and yen gained.

The S&P 500 and Nasdaq are now coming off their strongest month since 2023, signaling renewed investor appetite despite global uncertainties.



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CoinDesk Bot
Crypto Trends

UNI Recovers as Volatility Spikes on Trade War Fears

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The cryptocurrency market faces mounting pressure as global economic tensions escalate, with Uniswap (UNI) experiencing dramatic price swings reflecting broader market uncertainty.

UNI’s recent 10.9% price range demonstrates how geopolitical factors are directly influencing digital asset valuations, as traders navigate between risk-off sentiment and opportunistic positioning.

Despite challenging conditions, Uniswap has shown resilience by breaking above key resistance levels, suggesting potential stabilization after significant volatility.

Technical Analysis Highlights

  • UNI experienced significant price turbulence over the 24-hour period, with a substantial range of 0.644 (10.9%) from the high of 6.589 to the low of 5.945, according to CoinDesk Research’s technical analysis data model.
  • The token faced a sharp selloff during the 16:00-01:00 period, plummeting from 6.510 to 5.954, with notably high volume (4.4M) at the 01:00 low, establishing a strong volume support zone.
  • A modest recovery followed, with UNI finding resistance around 6.120 and consolidating between 6.000-6.050, suggesting market indecision after the significant correction.
  • In the last hour, UNI experienced a significant downward trend followed by a modest recovery.
  • The token declined from 6.110 to a low of 6.017 around 13:51, establishing a key support zone with increased volume.
  • A notable reversal occurred at 14:01 when UNI surged 3.6% from 6.032 to 6.054, accompanied by elevated volume (28.7K), suggesting renewed buying interest.
  • The price action formed a bullish channel with resistance at 6.055 and support at 6.030, with the closing price of 6.051 indicating potential short-term stabilization after the earlier volatility.

External References



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GameFi Guides

Bitcoin Wobbles as US Trade Court Strikes Down Trump’s Tariffs

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In brief

  • A federal court has knocked back Trump’s sweeping April tariffs, ruling them unconstitutional.
  • U.S. equity futures surged following the decision, while Bitcoin experienced a minor drawdown as traders rotate capital.
  • The court gave the government 10 days to implement the injunction; Trump’s legal team has already appealed the ruling.

Bitcoin retreated slightly on Wednesday amid a U.S. court decision that invalidated President Donald Trump’s sweeping tariff regime, delivering a blow to his second-term trade doctrine and calming equity markets.

A three-judge panel at the U.S. Court of International Trade ruled that Trump exceeded his presidential authority when he imposed blanket tariffs on most U.S. trading partners in early April, citing a national emergency under the decades-old International Emergency Economic Powers Act (IEEPA).

IEEPA, enacted in 1977, grants the U.S. president authority to regulate international commerce during declared national emergencies arising from external threats.

“We instead read IEEPA’s provisions to impose meaningful limits on any such authority it confers,” the panel wrote. “Any interpretation that delegates unlimited tariff authority is unconstitutional.”

The ruling invalidates 10% baseline tariffs, a 25% levy on Canada and Mexico, and a 20% rate on Chinese imports. 

It comes in response to two lawsuits, one filed by small businesses, including wine importer V.O.S. Selections, and another by a coalition of states led by Oregon and Arizona.

Following the ruling, Dow futures climbed 520 points, or nearly 1.2%, while S&P 500 and Nasdaq futures gained 1.7% and nearly 2%, respectively, according to MarketWatch, as markets welcomed the ruling.

Bitcoin, which reached a new all-time high of $111,814 last week, fell 1% on the day to $110,800, according to CoinGecko data.

Kadan Stadelmann, CTO of Komodo Platform, told Decrypt the decision “signaled a return to law and order,” saying that investors were now more comfortable reallocating capital to equities.

While Bitcoin’s short-term decline reflects that shift, the executive said he doesn’t expect the trend to reverse the broader bull market.

 “It’s also perfectly reasonable to see Bitcoin’s price action after the court decision as little more than a correction before it continues making the gains it has been making for several years,” he added.

The panel also rejected the administration’s justification for country-specific tariffs on China, Canada, and Mexico, saying they “fail because they do not deal with the threats set forth in those orders.” 

Trump had invoked IEEPA to levy tariffs of up to 125% on hundreds of imported goods, claiming an economic emergency tied to drug trafficking and foreign coercion.

The court ordered the U.S. government to issue the necessary administrative actions “within 10 calendar days” to carry out the permanent injunction.

Trump’s legal team has already filed a notice of appeal to the U.S. Court of Appeals for the Federal Circuit, according to a Reuters report.

Edited by Sebastian Sinclair

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Dow drops 115 points as S&P 500’s six-day rally ends
NFT Gaming

US stocks rally as Trump delays EU tariffs, boosts trade optimism

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U.S. stocks soared Tuesday after President Donald Trump agreed to delay a proposed 50% tariff on European Union imports. 

This pause eased investor concerns over an escalating trade war and paved the way for accelerated negotiations.

The Dow Jones Industrial Average rose nearly 740 points while the S&P 500 climbed 2.05%. The tech-heavy Nasdaq Composite jumped 2.46%, with shares of Nvidia, Tesla, and Apple posting strong gains.

Markets reopened following the Memorial Day holiday to a flurry of positive signals. U.S. President Donald Trump said over the weekend that the tariff hike, initially set for June 1, would be pushed back to July 9 following talks with European Commission President Ursula von der Leyen. 

The European Union, in turn, agreed to expedite trade discussions in hopes of averting the “mutual pain of tariffs,” according to EU trade chief Maroš Šefčovič.

Consumer confidence rebound

Investor sentiment was further buoyed by a rebound in consumer confidence, which rose in May after five months of declines. Tuesday’s broad market rally saw more than 90% of S&P 500 components close higher. Small-cap stocks also gained, with the Russell 2000 up more than 2%.

The optimism extended to the bond market, where U.S. Treasurys rallied and yields fell. The 10-year yield slipped to 4.43%, while the 30-year yield dropped to 4.94%. The dollar strengthened, and global bond markets responded positively to speculation that Japan will scale back long-term bond issuance after recent volatility.

Investors are now turning attention to a busy week of economic data and earnings. Minneapolis Fed President Neel Kashkari called for the central bank to hold interest rates steady amid ongoing trade uncertainty. 

Meanwhile, Nvidia is set to report quarterly results Wednesday, with Okta, Macy’s, and Costco also on deck.

Tuesday’s rally helped reverse last week’s losses, which were triggered by Trump’s initial tariff threats. Analysts say the back-and-forth has kept markets volatile but hopeful.



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Crypto Trends

CFTC Signals Crypto Perps Could Trade in US as Commissioners Head for the Exits

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In brief

  • CFTC Commissioner Summer Mersinger said Thursday crypto perpetual futures could come to market in the U.S. “very soon.”
  • The approval of those derivatives contracts comes as several commissioners are preparing to leave the federal agency.
  • Perpetual markets generally boast greater trading volume than their spot counterparts.

Outgoing CFTC Commissioner Summer Mersinger signaled Thursday that the Commission could “very soon” greenlight crypto perpetual futures products in the U.S., despite leadership shakeups at the federal agency that risk diminishing its enforcement powers.     

“I think those can come to market now, and we’re seeing some applications, and I believe we’ll have some of those products trading live very soon,” Mersinger told Bloomberg TV in an interview Thursday. 

The products “will be really beneficial to the [crypto] industry broadly and to our economy here in the United States,” she added.

Perpetual futures are financial contracts in which traders speculate on the underlying value of an asset such as Bitcoin or XRP. The offerings’ proponents argue that the availability of 24/7 leveraged trading stateside could significantly bolster participation and inject more liquidity in the U.S. market. However, critics argue perpetual futures pose significant risks to investors.



Commissioner Mersinger’s comments on the likelihood of crypto perpetuals futures’ debut in the U.S. come ahead of her departure from the agency to lead the crypto lobbying group, the Blockchain Association.

She’s one of four commissioners that have signaled their intentions to depart the CFTC, as Republican Caroline Pham and Democrats Christy Goldsmith Romero and Kristin Johnson will also soon step down from their posts. 

The Commission is poised to continue its work under the Trump-appointed Brian Quintenz, a pro-crypto regulator who is awaiting confirmation from the Senate. But with fewer regulators in its ranks, the federal agency may struggle to perform its duties in a timely manner, stymieing any pro-digital asset regulations reforms.

Quintenz may well be the only commissioner left, depending on when the others make their departures, at least until additional commissioners are confirmed by the Senate.

“The reduced number of commissioners could delay enforcement actions, rulemaking activity, and coordination with other financial regulators, increasing pressure on the Senate to expedite the confirmation process,” several partners of Paul Hastings, a U.S.-based law firm, said in a blog post on Thursday.

Edited by James Rubin

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Start every day with the top news stories right now, plus original features, a podcast, videos and more.



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Solar trade association warns of 'devastating energy shortages' if incentives are cut
Product Reviews

Solar trade association warns of ‘devastating energy shortages’ if incentives are cut

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The Solar Energy Industries Association released an assessment of how the budget reconciliation bill currently under review in Congress would have a negative impact on the economy. The legislation cuts incentives around solar power investment and adoption, such as the Section 25D residential tax credit.

The group’s analysis found that the bill, as it stands, would lead to the loss of nearly 300,000 current and future jobs in the US. It also said removal of incentives could mean a loss of ​​$220 billion in investment in the sector by 2030. It also pointed to a future energy shortage, claiming that solar was on course to be responsible for about 73 percent of the 206.5 GW of new energy capacity needed in the country by 2030.

“Passing this bill would create a catastrophic energy shortfall, cede AI and tech leadership to China, and damage some of the most vital sectors of the U.S. economy,” SEIA President and CEO Abigail Ross Hopper said.

It’s the type of reaction we expect to see when an industry is under threat from federal action. It’s also the type of researched data that doesn’t seem to have much influence on the current administration, particularly when it comes to the environment and sustainability.



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