Trade-policy window
The U.S.-EU tariff deadline moved to July 9, while Japan offered a $44 billion Alaska LNG project and shipbuilding technology in pursuit of U.S. tariff concessions.
May 25, 2025 · QQQ/SPY Market Review · 11 headlines
Tariff delay, bond pressure and chip plans lead Sunday news
U.S. markets were closed Sunday, so the chart carries Friday's close. Trump extended the U.S.-EU tariff deadline to July 9, while the 10-year Treasury yield stayed above 4.55% and Rand Paul opposed a proposed $5 trillion debt-ceiling increase. Nvidia was reported to be planning a lower-priced China AI chip. Kashkari said rate action before September remained uncertain, and Japan offered LNG and shipbuilding projects in tariff talks.
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What shaped the session
Fiscal and rate pressure
Republican opposition to a $5 trillion debt-ceiling increase, a 10-year yield above 4.55%, and Kashkari's rate uncertainty kept fiscal and monetary risks in focus.
China AI chip plan
Nvidia was reported to be preparing a China AI chip priced at $6,500 to $8,000, below the H20's $10,000 to $12,000 range.
Key news
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