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Gasoline prices in the U.S. have surged to their highest since September, driven by the transition to a more costly summer blend of fuel and oil prices hovering above $70 per barrel. According to AAA, the national average price for gasoline is around $3.24 per gallon, marking an increase from last month but still lower than a year ago. The switch to summer-blend gasoline, which is pricier to produce, coincides with refineries undergoing maintenance, thus reducing supply at a time when demand typically rises due to warmer weather and spring break travel. Additionally, geopolitical tensions, including U.S. actions against Iran, Venezuela, and Russia, have contributed to the recent oil price rally. The market is also on edge awaiting President Trump's announcement on tariffs, which could either further escalate or mitigate the current oil price dynamics.
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The article discusses the potential political repercussions for Republicans in the 2026 elections due to President Trump's new tariff policies. It highlights the GOP's significant losses in the 2018 midterms, where tariffs played a crucial role in voter dissatisfaction. Recent special elections, including a notable Democratic win in Wisconsin, suggest that the GOP might be facing similar electoral challenges. Trump's new tariff strategy, dubbed "Liberation Day," aims to impose duties that could have a more substantial economic impact than those during his first term. These tariffs are expected to directly affect consumer prices, particularly impacting low and middle-income households. The article also notes the broader political context, including the influence of figures like Elon Musk in recent elections, and suggests that if the administration does not adjust its course, the GOP could face a significant setback in the upcoming elections. The analysis underscores the unpredictable nature of voter response to these economic policies, potentially leading to a "wave-like" electoral environment in 2026.
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President Trump is set to unveil a sweeping new tariff program on Wednesday, which he has dubbed "Liberation Day." This initiative includes imposing 25% tariffs on all foreign-made vehicles, prompting consumers to rush purchases to avoid higher costs. The proposed tariffs have raised economic concerns, with analysts warning of potential recessions and significant increases in consumer prices. The manufacturing sector has already shown signs of contraction due to tariff uncertainty, while sectors like dairy exports and automotive industries face challenges from existing and anticipated duties. Globally, reactions vary: the EU has prepared retaliatory measures, Canada has imposed new duties, and Mexico has chosen a non-retaliatory approach. The ambiguity surrounding the scope and implementation of these tariffs has left markets and businesses in a state of uncertainty, with potential impacts on stock markets, consumer behavior, and international trade relations.
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Larry Fink, CEO of BlackRock, has proposed a shift from the traditional 60/40 investment split between stocks and bonds to a new 50/30/20 model, incorporating private market assets like real estate, infrastructure, and private credit. This suggestion comes in response to the evolving financial landscape where the classic 60/40 portfolio might not offer the diversification it once did. The 60/40 portfolio, which balances risk and safety, has been popular for its moderate risk level, suitable for long-term investment. However, recent market conditions, including inflation and policy changes, have tested its effectiveness. Fink argues that private assets, despite their higher risk, can provide benefits like inflation-adjusted revenue and less volatility, potentially enhancing overall portfolio returns. However, the challenge lies in the accessibility of these private investments, which often require substantial minimum investments and specific income levels, making them less feasible for the average investor. Fink's proposal aims at addressing the retirement savings crisis, highlighting the need for new strategies as traditional Social Security benefits are projected to diminish.
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The European Union is bracing for potential economic fallout from US President Donald Trump's planned tariffs by preparing a suite of emergency economic support measures. These measures are part of a broader strategy that includes enhancing competitiveness and reforming key sectors within the EU. Trump's proposed tariffs aim to counteract what he perceives as unfair trade practices by the EU, including its value-added tax (VAT) and digital taxes. The EU's response strategy hinges on the specifics of the US tariffs, with considerations for retaliatory actions and negotiations. The European Commission is also crafting a "term sheet" to facilitate talks with the US, focusing on reducing tariffs, mutual investments, and easing regulatory standards. This comes at a time when the EU has already countered previous US tariffs on steel and aluminum with its own set of countermeasures, highlighting the ongoing trade tensions between the two economic blocs.
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Newsmax, a conservative cable news network and alternative to Fox News, saw its stock plummet by 40% on Wednesday morning following a dramatic post-IPO surge. The stock had initially soared from $10 to $233, increasing its market cap from $1.2 billion to over $20.8 billion. Despite this, Newsmax is not profitable; its revenue grew by 26% to $171 million in 2024, but its losses also increased by nearly 73% to $72 million. The company's financial reporting controls have been flagged for material weaknesses, potentially leading to misstatements in financial statements. Newsmax's stock volatility has drawn comparisons to the meme stock craze and Trump Media & Technology Group. Additionally, the company faces legal challenges, including a $1.6 billion lawsuit from Dominion Voting Systems over false election claims, and has already settled another lawsuit with Smartmatic for $40 million.
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Bybit, a cryptocurrency exchange, has decided to close its NFT and inscription marketplaces on April 8, 2025, as part of a strategic move to streamline its offerings amidst a declining interest in the NFT market. This decision follows a similar move by another major NFT marketplace, X2Y2. The broader NFT market has experienced a significant downturn, with daily trading volumes plummeting by over 95% since their peak in December 2024. Despite some projects like Doodles and Pudgy Penguins showing resilience, the overall market has seen a sharp decline in sales, with a 63% drop year-over-year in the first quarter of 2025. The shift in market dynamics from speculative trading to utility-based applications has been noted by industry experts, indicating a transformation in how NFTs are perceived and utilized in various sectors like gaming, AI, and content authentication.
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In March 2025, losses due to crypto scams, exploits, and hacks significantly decreased to $28.8 million, a sharp contrast to February's $1.5 billion spike following the Bybit hack. According to blockchain security firm CertiK, code vulnerabilities were the leading cause of losses, totaling over $14 million, while wallet compromises led to over $8 million in theft. The most significant incident was a $13 million smart contract exploit on the decentralized lending protocol Abracadabra.money. Despite the losses, some funds were returned, notably through a bug bounty agreement with the attacker by decentralized exchange aggregator 1inch, which recovered most of the $5 million stolen. However, the figures do not account for an unknown Coinbase user's loss of 400 Bitcoin, worth $34 million, and potential losses of over $46 million to phishing scams. Additionally, Australian federal police warned of scams spoofing crypto exchanges, highlighting ongoing security concerns in the crypto space.
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The DNA testing company 23andMe has declared bankruptcy, leading to a scramble among its 15 million users to protect their genetic data from potential misuse. Amidst this, blockchain projects are vying to acquire and secure this sensitive information on decentralized networks, promising users greater control and privacy. Privacy advocates and government officials are pushing for users to delete their data from 23andMe, especially after a judge approved the sale of user data. Blockchain solutions like Sei Foundation, AR.IO, Genomes.io, and GenoBank are presenting alternatives where users can manage their data through encrypted vaults or tokenized NFTs, ensuring privacy and potentially monetizing their data. However, these blockchain solutions come with their own set of challenges, including the high cost of data storage, the risk of losing access to data if private keys are misplaced, and navigating complex regulatory environments. Despite these hurdles, the overarching advice remains for users to remove their data from 23andMe to safeguard their privacy.
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Bitcoin's price dynamics are closely tied to the upcoming US trade tariff announcements, with the cryptocurrency reaching new April highs at $86,923. The market is preparing for potential volatility as President Trump is set to unveil new tariffs, which could lead to a significant dip in Bitcoin's value, potentially returning to $76,000, an 11% drop from current levels. Despite this risk, Bitcoin is showing signs of a potential breakout, with key technical indicators like the 200-day Simple Moving Average (SMA) and the 21-week Exponential Moving Average (EMA) being closely watched. Analyst Rekt Capital highlighted the consolidation between these EMAs, suggesting that a breakout could be imminent. However, trading firm QCP Capital remains cautious, noting that without a shift in the broader macro environment or a compelling catalyst, a meaningful reversal in crypto markets is unlikely. Meanwhile, other market participants like Swissblock see Bitcoin at a crossroads, potentially acting as a hedge or following traditional finance into a pullback.
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Pi Network, a social cryptocurrency project, is experiencing significant price pressure as its token, PI, approaches its all-time low. The price drop is attributed to the unlocking of over 126.6 million PI tokens this month, which represents nearly 1.87% of the current circulating supply. This event follows a pattern where monthly unlocks exceed demand, negatively impacting the token's value. Despite these challenges, Alex Obchakevich from Obchakevich Research sees potential in Pi Network, suggesting that the project needs to focus on development to boost usage and interest. Pi Network, which allows users to earn tokens through a daily check-in process, has been operational since 2019 and has faced skepticism regarding its legitimacy, with ByBit's CEO Ben Zhou labeling it a scam. However, with strategic development, Pi Network could potentially rise to compete with leading cryptocurrency projects.
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Fidelity Digital Assets' recent analysis indicates that Bitcoin's bull market might still have room to grow, as it has not yet experienced the typical "blow-off top" of an acceleration phase. Analyst Zack Wainwright notes that Bitcoin's current phase, marked by high volatility and profit, mirrors past cycles where significant price movements occurred. Despite a year-to-date loss of 11.4% and a 25% drop from its all-time high, Bitcoin's performance is in line with historical trends following acceleration phases. The report highlights that Bitcoin is nearing the end of its current cycle, with previous peaks lasting slightly longer before corrections. Meanwhile, institutional interest remains strong, with companies like Strategy, MARA, Metaplanet, and GameStop making significant investments in Bitcoin, suggesting a bullish long-term outlook despite short-term market fluctuations. This accumulation by large entities underscores a strategy of viewing Bitcoin as a reserve asset, potentially setting the stage for another price surge if historical patterns hold.
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President Donald Trump is poised to announce what could be the most significant US trade restrictions in a century, fundamentally altering the global trading landscape. The announcement, set for a White House Rose Garden event, has left investors, executives, and consumers worldwide in a state of uncertainty due to the lack of specifics on the new tariffs' structure, size, and targets. The proposed reciprocal tariffs aim to counterbalance the trade barriers imposed by other nations on US goods, potentially affecting a staggering $33 trillion in global trade. According to Goldman Sachs, these measures could increase average US tariffs by 15 percentage points, potentially fueling inflation, slowing economic growth, and heightening recession risks. Countries like China, the EU, and India might face significant export drops to the US, with broader economic implications including the risk of stagflation. The global business community is watching with apprehension, as these changes could disrupt an economy that constitutes about a quarter of the world's GDP.
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President Donald Trump is set to unveil new tariffs on Wednesday, with his administration still finalizing the specifics. Despite earlier statements from Trump suggesting a decision had been made, the White House has not confirmed a final plan. The proposed tariffs could include a tiered system where countries face either a 10% or 20% levy based on their trade barriers against US goods, or a more tailored reciprocal approach. The event, dubbed "Make America Wealthy Again," will feature key figures from the steel industry and is expected to initiate one of the most significant import tax impositions in US history. These tariffs could apply broadly, even to countries without a trade imbalance with the US, and are designed to encourage negotiations for better trade terms. The uncertainty around the tariff details has already impacted markets and economic forecasts, with potential implications for global trade and domestic inflation.
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Mercedes-Benz Group AG is contemplating the withdrawal of its least expensive car models from the US market due to the impending 25% auto tariffs proposed by President Donald Trump. These tariffs, set to take effect this week, could make the sales of entry-level vehicles like the GLA SUV economically unfeasible. The German automaker has not finalized its decision and might adjust its strategy based on how the tariffs are implemented. The uncertainty from Washington has caused frustration among Mercedes executives, who are unsure how to proceed. This move is part of a broader strategy to navigate the escalating trade war, which threatens to disrupt sales and supply chains. Other manufacturers like Aston Martin and Ferrari are also adjusting by raising prices, while Volkswagen considers local manufacturing. The potential withdrawal could push consumers towards Mercedes' more profitable, premium models, aligning with the company's recent shift under CEO Ola Källenius to focus on higher-end vehicles.
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OpenAI is gearing up to release its first "open-weight" language model since the partial release of GPT-2 in 2019, marking a significant shift from their recent closed systems. This new model will be available for anyone to use, download, modify, or deploy, providing developers with the flexibility to run it on their own hardware. CEO Sam Altman announced this move on X, emphasizing the importance of gathering feedback to maximize the model's utility. The decision to release an open model comes after prioritizing other projects, but now feels crucial. Developer events are planned to start in San Francisco, with subsequent sessions in Europe and the Asia-Pacific region. This release is part of a broader trend in the AI industry, with competitors like Alibaba, Google, and Meta also advancing their AI models, highlighting the intensifying AI arms race.
