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The first report about Waltz came out a few hours ago and now CBS is reporting that he’s out along with deputy Alex Wong.

The initial report says US Special Envoy to the Middle East could be Steve Witkoff who has been negotiating with Russia and Iran. The again, there was a hit on Witkoff just yesterday in the New York Post.

It’s expected to be announced on the weekend but that timeline could change.

The move could also help to explain why US-Iran negotiations scheduled for this weekend were delayed. Waltz retired from the army reserve stepped down from Congress in January to take the job. He replaced Jake Sullivan who was Biden’s National Security Advisor for his entire term.

Trump had 8 advisors in the role in his first term, starting with Michael Flynn.

This article was written by Adam Button at www.forexlive.com.

Sector Overview: Tech Sector Shines

Today’s stock market is dominated by a strong performance in the technology sector. Behemoths like Microsoft (MSFT) are experiencing significant gains, up by an impressive 8.86%. This rally is fueled by investor optimism and strong earnings reports. Oracle (ORCL) also sees a notable rise of 5.17%, affirming robust confidence in software infrastructure.

The semiconductor sector contributes positively, with Nvidia (NVDA) experiencing an upward movement of 4.08%. This comeback is largely driven by innovative breakthroughs and strategic partnerships that buoys investor sentiment.

On the contrary, Qualcomm (QCOM) suffers a steep decline of 8.20%, indicating specific company challenges or disappointing news affecting investor confidence.

Market Mood and Trends: Positive Tech Vibes

The overarching mood in today’s market is one of cautious optimism, primarily fueled by exceptional performances within the tech industry. There’s a visible investor shift towards tech stocks, as evident from the strong performance by stalwarts like Nvidia and Microsoft.

Simultaneously, some sectors like healthcare are facing downward pressure, with Lilly (LLY) dropping by 6.54%, possibly due to negative news or earnings results.

Communication services also remain positive, with Meta (META) showing a strong gain of 5.23%, signaling continued robustness in digital ad spending and platform engagement.

Strategic Recommendations: Focus on Tech, Caution in Healthcare

Investors might capitalize on the flourishing tech sector, considering the solid performance and growth potential in recent sessions. Stocks like Nvidia and Microsoft deserve focused attention for those keen on technology investments.

However, caution is advised in the healthcare sector, especially with companies like Lilly struggling currently. Monitoring upcoming reports and broader market cues could provide more clarity soon.

For diversification, consider the energy sector, with companies like ExxonMobil (XOM) showing a modest gain of 0.94%. The sector offers a stable yet growth-oriented investment avenue.

Traders and investors should visit ForexLive.com for up-to-date market analysis and financial insights to stay ahead of market shifts and opportunities. Diversification across these prominent sectors could prove beneficial in navigating today’s mixed market dynamics.

This article was written by Itai Levitan at www.forexlive.com.

The USDCHF continued its move to the upside after breaking above the 100-hour moving average at 0.82556. That level became a springboard for buyers, who stepped in and pushed the pair higher during the session.

Earlier in the week, the 200-hour moving average (green line) provided support, helping to form a base for the current rally.

The next key resistance area comes in between 0.83184 and 0.8333—the highs from Monday and Friday. Just above that sits the 38.2% retracement of the April decline, which comes in at 0.8350. This creates a major target and decision area for traders. Getting above the 38.2% after a trend move is required to show the buyers are willing to take more control. It is the minimum retracement target. Absent a break of it, the buyers are not winning.

Nevertheless, the technical optics are more positive with support at the 200 earlier this week, and support at the 100 hour MA today, showing buying interest. There is work to do, but the buyers are making a play.

This article was written by Greg Michalowski at www.forexlive.com.

The tariff fear-buying began in late-March and continued into April, but slowed toward the end of the month.

McDonald’s narrowly beat on earnings per share for the first quarter, but fell short on revenue.

• All three documents were signed
• General partnership overseeing the group located in Delaware
• 50% of royalties will come from new natural resource projects in Ukraine
• Ukraine deal can be a model for similar international deals

It doesn’t sound like they’re anticipating any problems with Ukraine’s parliament.

This article was written by Adam Button at www.forexlive.com.

The IRS treats gold — and exchange-traded funds backed by physical gold — as collectibles. Collectibles have a top 28% tax rate for long-term capital gains.

Mercedes-Benz on Thursday said it will add a new vehicle to its plant in Alabama amid President Donald Trump’s auto tariff.

Tesla chair Robyn Denholm wrote on the social media platform X that the WSJ report was “absolutely false.”

Manufacturers are at the heart of the trade war and today’s ISM survey of the industry gave the market some solace: Orders aren’t collapsing.

Combine that with largely upbeat commentary from corporates as Q1 earnings roll out and the world is feeling better about the tariff war. I’d caution that could be premature but there are also indications that Trump is backing off on the trade war as the US calls China and gets set to announce a deal later today.

Next up is Friday’s non-farm payrolls report and there could be some volatility there but I just don’t see many companies talking about layoffs at the moment.

This article was written by Adam Button at www.forexlive.com.