🫖 Will US-China Trade Issues Spill Over?

Good morning. US stock futures dipped in Wednesday morning trading as investors parse through another slate of quarterly results halfway through the corporate earnings season.

🤖 China vents frustration with US policies

📝 Our report: China's financial bigwigs aired their worries to visiting U.S. Treasury officials about America's tariffs, investment roadblocks, and sanctions aimed at "suppressing" Chinese companies, according to the Chinese finance ministry. Both sides had "in-depth, frank, pragmatic and constructive" exchanges on their macroeconomic situation and policy, and developing countries' debt, among other issues in the meetings this week in Beijing, the ministry said.  

 🔑 Key points:

• China's vice premier He Lifeng urged the two countries to deepen exchanges and cooperation to stabilise and develop the China-U.S. economic relationship, China's official Xinhua news agency reported.

• The talks underscore trade tensions between the world's two largest economies. Both have made overtures to ease the friction, especially as the U.S. ramps up export controls meant to keep the most advanced semiconductors out of China's hands.

• China's vice minister of commerce, Wang Shouwen, expressed concerns about the restrictions on semiconductors and cloud services in China, fair treatment of Chinese companies in the U.S., and photovoltaic restrictions, according to a statement from the commerce ministry.

💡 So what: US-China trade relations are pivotal on the global stage due to the sheer size of their economies and their integral roles in global supply chains across various industries. Tensions and negotiations between the two economic giants not only impact their own economies but also have far-reaching effects on global trade, investment, and market stability.

Wednesday - U.S. Trade Deficit, Consumer Credit

Thursday - Richmond Fed President Tom Barkin Speaks

Friday - Dallas Fed President Lorie Logan Speaks

💰 Gen-z, Millennials struggle to invest. Here’s why…

💸 Are you part of the FIRE movement?

🪜 Didn’t get that promotion? Here’s what you should do

 📈 Get 5.1% APY For Your Extra Cash

Many of you ask where we’re putting our extra cash to earn the highest interest while still having access to it.

I’ve looked through plenty of high yield options and my top pick is Moomoo. It’s offering one of the highest yields available today at 5.1% APY.

And the best part? No minimum deposits, no cap on interests, and you can withdraw your cash at anytime.

Moomoo is offering Daily Market Briefs subscribers a limited-time deal: earn 5.1% APY on your cash and get up to 15 free stocks.

PS: Despite the funny name, Moomoo is a registered broker dealer with the SEC and is a member of SIPC meaning you’re insured up to $500,000.

🏈 Sports streamers unite!

WHAT: Hold onto your jerseys! Disney's ESPN, Warner Bros. Discovery, and Fox are joining forces to kick off a brand-new sports streaming service, scheduled to hit screens this fall. According to the companies, the platform will bring together their respective slate of sports networks along with certain direct-to-consumer (DTC) sports services and sports rights. This will include content from all the major professional sports leagues and college sports.

WHY: The news comes as sports streaming rights have skyrocketed with both ESPN and Warner Bros. Discovery’s TNT renegotiating their packages with the National Basketball Association (NBA).

🤖 AI image labels coming

WHAT: Get ready for some AI artistry alerts! Facebook and Instagram users are about to get labels on those AI-generated images popping up in their feeds. Meta said it's working with industry partners on technical standards that will make it easier to identify images and eventually video and audio generated by artificial intelligence tools.

WHY: A number of tech industry collaborations, including the Adobe-led Content Authenticity Initiative, have been working to set standards. A push for digital watermarking and labeling of AI-generated content was also part of an executive order that U.S. President Joe Biden signed in October.

💰 IRS looks to collect outstanding tax dollars with new funding

WHAT: Looks like Uncle Sam's getting serious about chasing those coins! According to new analysis released by the Treasury Department, the US Internal Revenue Service (IRS)is poised to take in hundreds of billions of dollars more in overdue and unpaid taxes than previously anticipated. Tax revenues are expected to rise by as much as $561 billion from 2024 to 2034, thanks to stepped-up enforcement made possible with money from the Inflation Reduction Act, which became law in August 2022.

WHY: Ensuring that people actually pay their taxes is one of the tax collection agency’s biggest challenges. The tax gap — which is the difference between taxes owed and taxes paid — has grown to more than $600 billion annually, according to the IRS.

✏️ DMB Insider Quiz ✏️

🧑‍💻 We read your emails and poll replies daily.

Hit reply and let us know what you want more of!

See ya next time, Daily Market Briefs