- The S&P 500 dropped by 0.39%, bringing an end to its six consecutive days of gains.
- The CEO of Tesla, Elon Musk, stated that he will continue to lead the company over the coming five-year period.
- Musk separately stated that Tesla will introduce robotaxis in Austin by the end of June.
- Google is introducing a new artificial intelligence subscription service named “Google AI Ultra.”
- Apple reinstated the Epic Games game Fortnite into its app store, five years following its initial removal.
- The predominant topic for markets remains AI, according to Josh Brown, who leads Ritholtz Wealth Management as its CEO.
As a result of the trade turmoil sparked by U.S. President Donald Trump in recent weeks, excitement among investors regarding artificial intelligence has diminished. Among the Magnificent Seven stocks—all of which are involved in AI—only three have shown gains so far this year. Notably, Nvidia has managed only a slight increase of 0.07% year-to-date.
The less enthusiastic sentiment among investors regarding AI — compared to the excitement seen in 2024, at least — does not mirror the focus areas of businesses, which remain unchanged.
spending on AI infrastructure
and leveraging the technology to find new revenue streams. Google-parent Alphabet will be adding a new AI subscription service that costs $249.99 a month, while Tesla is banking on AI to power its robotaxi ambitions.
Indeed, Josh Brown, co-founder and CEO of Ritholtz Wealth Management, penned an article on newsinpo.sitePRO stating that artificial intelligence remains the primary driver for market movements, even as tariffs have dominated discussions since what Trump dubbed his “Liberation Day” on April 2. With stock prices showing signs of stagnation on Tuesday, AI might soon offer renewed momentum to financial markets.
What you need to know today
S&P 500 breaks six-day win streak
U.S. markets slipped Tuesday
. The S&P 500 lost 0.39%, ending its six-day run in the green. The Dow Jones Industrial Average lost 0.27% and the Nasdaq Composite declined 0.38%. The pan-European Stoxx 600
closed 0.73% higher
. Shares of UBS fell 3.3% following
a Bloomberg News report
saying the Swiss government is expected to impose higher capital requirements on the banking giant.
Musk aims to keep his role as the leader of Tesla.
Tesla Chief Executive Elon Musk stated on Tuesday that he has “absolutely no doubt” regarding the matter that involves him.
committed to leading
The company over the coming five years. He aims to secure “adequate voting power” to prevent being removed by activist investors, according to Musk, and mentioned that he intends to
dedicate significantly fewer resources to political expenditures
In the future, he believes he has “done enough,” stated Musk during his appearance at Bloomberg’s Qatar Economic Forum in Doha.
Tesla will launch robotaxis in June
In a separate interview with newsinpo.site’s David Faber on Tuesday at Tesla’s headquarters in Austin, Texas, Musk said he expects Tesla and xAI t
o continue buying chips from semiconductor giants
NVIDIA and AMD. Musk further verified that the firm will proceed with
autonomous taxis in Austin by the end of June
. The rival robotaxi company Waymo, which is owned by Alphabet, informed newsinpo.site on the same day that they have
has reached 10 million paid journeys to date
.
New ‘Google AI Ultra’ membership plan
Google is
adding a new artificial intelligence subscription service
called “Google AI Ultra.” The plan includes the Google’s flagship AI app Gemini with the newly announced Gemini 2.5 Pro “DeepThink” mode, new filmmaking AI tool Flow and note-to-podcast tool Notebook LM, the company announced Tuesday at its annual developer conference Google IO. The service will cost $249.99 per month.
Fortnite returns to the App Store
Apple
approved the Epic Games game Fortnite
on Tuesday, restoring the game to its original state
Apple Store in the United States
..five years following its deinstallation. Fortnite was
removed from the App Store in 2020
After Epic modified its game to facilitate direct payments online rather than using Apple’s in-app purchase system, which imposes fees as high as 30%, a court decision last month stated that Apple couldn’t levy a commission when applications redirect elsewhere for payment processing.
[PRO]
Artificial intelligence, not tariffs
Josh Brown, CEO of Ritholtz Wealth Management and
newsinpo.sitePRO contributor
, said Tuesday the most important theme for the stock market right now is not tariffs, but rather artificial intelligence.
Discover his reasons for thinking this way.
and the AI stock he has high hopes for.
And finally…
Chinese firms look for alternatives to the U.S. market as trade war worries dwarf deal hopes
A recent private survey revealed that the fierce trade war with the United States has inflicted enduring damage on Chinese exporters. Many of these companies are now seeking to expand their markets beyond the U.S., even though they have been granted temporary relief from tariffs.
According to a survey conducted by trade insurer Allianz Trade involving 4,500 exporters from various key economic regions, it was discovered that 95% of the Chinese exporters polled intend to increase their exports to markets beyond the United States, should they not be doing so already.
The U.S.-China “decoupling” remains a likely scenario over the medium term, the survey said, as Chinese exporters look to pivot away from the U.S. and American firms accelerate efforts to shift production out of China.
