US President Donald Trump and Elon Musk attend a press event at the White House Oval Office in Washington, DC, United States, on May 30, 2025.
Nathan Howard | Reuters
The developments of the White House become more exciting and unpredictable than these Asian dramatic series of 1,000 episodes.
Thursday, “so much to be Mr. Nice Guy”, Donald Trump, returned to be a nice guy and had a “very good call”, in his words, Chinese president XI Jinping on business issues. After the call, Trump said that officials from both countries will come together to negotiate more. Trump had previously described the process of reaching an agreement with XI as “extremely hard”, while the Treasury Secretary Scott Bessent said that the talks between the United States and China are “a little in a standstill”, which makes the appeal of the appeal even more a breakthrough.
But Trump no longer plays well with Elon Musk. Last Friday, the American president at a farewell ceremony for the role of Musk at Doge qualified the latter as “formidable” and said “he will always be with us”. From the weekend, however, Musk started to explode “Big and Beautiful Bill” by Trump, who culminated Thursday in a public spam between the ancient compatriots of the White House. Trump recognized Thursday that “Elon and I had an excellent relationship” – note the use of the past – but he does not know “if we want it”.
Unlike the twists and turns of a television series, however, the relationships of the White House with others – a drama as or more entertaining than fiction for some – have concrete effects on the economy and the markets. Tesla’s shares, for example, sang 14% after its CEO was silent with the American president. A spectator cannot be completely absorbed, for fear, getting lost in the show, he also loses his investments.
What you need to know today
LAID spat between Trump and Musk
US President Donald Trump called Tesla CEO Elon Musk on Thursday, “crazy” and threatened to reduce government contracts from his businesses while the two men were competing for a major tax bill. In response, Musk said Space X will start downgrading his dragon spaceship “immediately”. “Without me, Trump would have lost the elections,” added Musk later. Tesla’s shares have flowed more than 14% and lost $ 152 billion in value from the electric vehicle manufacturer.
Trump speaks in Xi on trade
Trump and his Chinese counterpart Xi Jinping had a “very good call” for about 90 minutes which concentrated “almost entirely” on the trade, wrote Trump on Truth Social. He added that American and Chinese officials will soon meet for more discussions to resolve an ongoing trade war. The Beijing Foreign Ministry and the China Embassy in the United States said Trump earlier on Thursday asked for the appeal with XI.
American markets dragged by Tesla
American actions dropped Thursday, weighed down by Tesla Tanking shares. THE S&P 500 remote 0.53%, the Industrial average Dow Jones lost 0.25% and the Nasdaq Composite lost 0.83%. But Microsoft The shares climbed 0.8% to reach a record and recover the title of the largest global company by market capitalization. The markets in Asia-Pacific were mixed on Friday. India NIFTY 50 increased by 0.95% to 1:45 p.m. in Singapore after the country’s central bank reduced interest rates. Hong Kong Hang Seng indexHowever, slipped 0.4%.
The Central Bank of India offers a disproportionate cup
The Reserve Bank of India reduced its rate of reference policy to 5.5%, against 6%, the lowest level since August 2022. Economists interviewed by Reuters expected the bank to reduce the rates of 25 base points. The decision comes on India has declared the gross growth of interior products more than expected in the fourth tax quarter. However, the RBI held its estimate of the annual GDP at 6.5%, marking a net slowdown compared to the 9.2% observed during the previous financial year.
Circle Pop shares after the IPO
Actions of Internet Circle group I climbed 168% on Thursday after the Stablecoin company and its sales shareholders raised nearly $ 1.1 billion in a first public public call. The action opened its doors at $ 69 on the New York Stock Exchange after its IPO at a price of $ 31. At one point, the shares were negotiated up to $ 103.75. Circle joins Coinbase, Mara Holdings and Riot Platforms as one of the few pure cryptography companies to register in America.
[PRO] Prices could benefit LSE
The London Stock Exchange has struggled to attract companies that seek to become public-but some market observers say that a diversification focused on the United States could help the United Kingdom to reconquer a larger share of the stock exchange market.
And finally …
US President Donald Trump and Elon Musk attend a press event at the White House Oval Office in Washington, DC, United States, on May 30, 2025.
Nathan Howard | Reuters
Trump and Musk Feud draw reactions from billionaires, politicians and experts. Here’s what said what
Trump and Musk seemed inseparable not so long ago: attending events together, doing joint interviews and being praised on each other. All this changed overnight.
Billionaire Bill Ackman urged Trump and Musk to stop fighting on Thursday. The two men should “make peace for the benefit of our big country,” said Ackman on X.
Tesla Bull Ross Gerber, chief of Gerber Kawasaki Wealth and Investment Management, had hardwords for Musk in a series of X messages, declaring that Elon “now attacked all the people he helped to put in power”.
Others from Trump’s orbit, such as Trump’s former senior advisor, Steve Bannon, who clashed with Musk in recent months, have also criticized Musk, saying Trump should sign an executive order to take control of SpaceX.
