President Donald Trump’s re-election in November raised expectations that his agenda would bolster America’s beleaguered industrial core and help small businesses prosper. So far, so-called Bro Billionaire stocks have trounced shares of small companies,

Tesla stock is a favorite among retail traders, and a drop set off by the Trump-Musk feud could be a catalyst for a market pullback, Marko Kolanovic said.

FILE PHOTO: A screen shows Tesla CEO Elon Musk and U.S. President Donald Trump, as a futures-options trader works on the floor of the the New York Stock Exchange (NYSE) in New York City, U.S., May 30, 2025. REUTERS/Jeenah Moon/File Photo

Shares of Rocket Lab and Intuitive Machines are getting a lift Friday as the outlook for Elon Musk’s SpaceX comes into question.

Asian equities were positive overnight, led by Hong Kong and South Korea, while Japan underperformed, as Trump and Xi are said to have held a phone call.

US President Donald Trump announced Friday a new round of trade talks with China in London next week, a day after calling Chinese counterpart Xi Jinping in a bid to end a bitter battle over tariffs.While Trump's long-awaited phone call with Xi this week likely paved the way for further high-level trade talks,

With Trump threatening to sever government ties with Musk's businesses, most notably SpaceX, Newsweek looked at the web of contracts that bind the billionaire's ventures to the U.

Trump added that he has "no intention of speaking" to Musk anytime soon, saying "I’m too busy doing other things.”