Market Wrapped 6th June

📣 Market Wrap

Despite a setback last night, caused by a public spat between Trump and Elon Musk, markets continued their strong run this week, now 25% above April’s lows and just 3% shy of all-time highs. This ongoing impressive rally suggests that the market is largely discounting the two major risks that have been weighing on investor sentiment: tariffs and Trump’s proposed "Big Beautiful Bill", which aims to cut taxes by nearly $4 trillion, but would simultaneously add over $2.4 trillion to US debt. While the TACO trade (Trump Always Chickens Out) remains a catchy name, the market’s view is clear: Trump doesn’t hold all the cards right now.

China has proven more resilient than expected in trade negotiations, partly due to its economy holding up better than anticipated despite tariffs. As a result, investors believe that easing of tariffs across the board is increasingly likely, even if it hasn't materialised yet and is far from certain.

Domestically, Trump’s tax proposal is facing growing opposition. Even high-profile figures like Elon Musk have voiced concerns (leading to the bizarre showdown yesterday!). Therefore, the market is increasingly pricing in a watering down of the tax plan, which would reduce the US debt trajectory to a more manageable level.

‍

📈 Market Data

S&P500: +0.5% wtd | +1.2% ytd

FTSE 100: +0.6% wtd | +6.9% ytd

Gold: +1.7% wtd | +27.8% ytd

Data accurate as at time of sending this briefing. wtd = week to date, ytd = year to date

‍

💎 Spotlight Stock

Each week we want to shine a spotlight on a stock which is new on our platform.

Pan Global Resources (CAD44m market cap)

Pan Global Resources is a Vancouver-based mineral exploration company focused on discovering copper and other metals in Spain. It has an experienced leadership team which has a rich history of successful mineral project development.

Its recent exploration success in its flagship Escacena Project has shown near-surface mineralisation and excellent metallurgy with a clear pathway to first production within the next few years.

This positions Pan Global to deliver value in a macro environment that strongly favours secure, local sources of critical metals (such as copper) where there is growing demand driven by electrification trends.

‍

Disclaimer information
THIS ARTICLE DOES NOT CONSTITUTE ANY FORM OF ADVICE OR RECOMMENDATION AND IS NOT INTENDED TO BE RELIED UPON IN MAKING ANY INVESTMENT DECISIONS. Curation Connect is an information service provided by Curation Corporation. Liability Your investments are your responsibility. No liability whatsoever is accepted by Curation Corporation Limited or any Curation Corporation company of their respective directors, officers, employees or analysts for any loss, whether direct, indirect, special, incidental or consequential, arising whether directly or indirectly as a result of the recipient acting or not acting on any information in any Curation Connect publication, including, without limitation, lost profits arising from the use of the Curation Connect service or any of its publications. We have no liability for any loss of profit, loss of revenue, loss of business, business interruption, loss of opportunity or any indirect, special or consequential loss; any losses which arise from any event beyond our reasonable control; any losses which could not reasonably have been anticipated; or your inability to access and/or use the Curation Connect service or the website. We do not exclude or limit in any way our liability to you where it would be unlawful to do so. Disclaimer Curation Connect publications are provided for general information purposes only and should not be regarded as an offer, solicitation, invitation, inducement or recommendation relating to the subscription, purchase or sale of any security or other financial instrument or investment. This report is intended only for investors who are 'professional clients' as defined by the FCA, and may not, therefore, be redistributed to other classes of investors. This document is provided for information purposes only and should not be regarded as an offer, solicitation, invitation, inducement or recommendation relating to the subscription, purchase or sale of any security or other financial instrument. This document does not constitute, and should not be interpreted as, investment advice. You must carry out your own independent research and obtain suitable professional advice before making any investment decision. The Curation Connect publications do not take the specific needs, investment objectives and financial situation of any particular individual into consideration and we cannot state whether any investment mentioned is suitable for you. You should not base any investment decision solely on the basis of the information we publish or provide to you. Always be aware of market risks – never invest money you cannot afford to lose. All investments can go down as well as up. Investing in securities entails risks. Potential Conflicts of Interest Curation Connect or its respective directors, officers, employees, contributors and clients may have or take positions in the securities, entities or investments mentioned in the Curation Connect publications. Any of these circumstances could create, or be perceived as creating, conflicts of interest. Privacy and Registration All information received from you and your use of the Curation Connect service and the website will be used by Curation Corporation Limited in accordance with our Privacy Policy. Please read this for details of how we may process your personal data. On registration for the Curation Connect service, you must provide us with accurate, complete registration information and it is your responsibility to update and maintain changes to your information. Curation Connect, a trading name of Curation Corporation Limited, is entitled to rely on any information you provide to us. Read our full T&Cs, disclaimers and privacy notice. Contact us at info@curationcorp.com Curation Corporation Limited, 58 Borough High Street, London, SE1 1XF, UK