Finance

Trump tariffs 100 days market promise and problems: Fast Money list

Published

3 hours ago

April 29, 2025

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Over President Donald Trump’s first 100 days, the S&P 500 lost more than 7% while the tech-heavy Nasdaq Composite dropped 11%.

On a sector basis, consumer staples is the biggest gainer in that time period, up 5%. Consumer discretionary lost the most value, off 13%.

We asked the “Fast Money” traders to share which market areas should see the most promise — and problems — over the next 100 days.

No. 1: Karen Finerman

Most promise: Big cap pharma. She’s bullish because the group is “way oversold,” and it’s largely out of the tariff crossfire.

Most problems: Container space. It’s likely seeing benefits right now from a big pull forward in demand. If the tariff fight takes a while to get resolved, expect to see fewer containers and a reduction in full containers overall, making for a “very sad income statement.”

No. 2: Tim Seymour

Most promise: Semiconductors and international investing. In the case of semis, they’re the “ultimate cyclicals” and should be a buying opportunity built off of beaten-down valuations. He predicts supply and demand dynamics will “rage again” in the year’s second half.

Seymour is also bullish on international investing. His name for it: MIGA, an acronym for “Make International Great Again.”

He highlights Germany’s DAX index outperforming the S&P 500 since late November. According to Seymour, it’s a trade that should still work over at least the next 100 days because tariffs are both a wake-up call and tailwind.

He lists relative valuation attractiveness and “Magnificent Seven” exhaustion among other key upside drivers.

The Mag 7 index, which is comprised of Apple, Nvidia, Meta Platforms, Amazon, Alphabet, Microsoft and Tesla, is down almost 16% over President Trump’s first 100 days.

Most problems: Companies exposed to consumer credit and discretionary spending. Seymour expects U.S. consumers to tighten their belts due to high prices and a deteriorating jobs market.

No. 3: Dan Nathan

Most promise: “Cash will be king.”

Nathan sees little working. He notes defensive groups including utilities, consumer staples and U.S. Treasurys, which historically benefit during economic distress, will eventually slump. According to Nathan, the headwinds produced by a tariff-induced recession will punish them.

Most problems: Planes, trains and automobiles. His base case scenario is a “protracted trade war” with China and possibly other key nations that will choke demand. Nathan advises consumers to “fasten their seatbelts for unexpected turbulence and bumps in the road.

No. 4: Guy Adami

Most promise: Retail. Most problems: Retail.

He thinks retail is in an odd spot. According to Adami, there’s “no way to game this out, but they seemingly have the most at stake.”

He told “Fast Money” on Tuesday that the unemployment rate will likely surprise to the upside.

“When you have an economy that’s predicated on people having jobs and feeling good about things… that becomes problematic,” Adami told viewers. “I think the market is still a little expensive here.”

Disclosure: Tim Seymour runs the Amplify CWP International Enhanced Dividend Income ETF.

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UK announces draft rules for crypto industry, US collaboration

Published

10 hours ago

April 29, 2025

Business Finance News

Romain Costaseca | Afp | Getty Images

LONDON — Britain on Tuesday published draft legislation for the cryptocurrency industry, touting greater collaboration with the U.S. as it looks to regulate the wild world of digital assets.

Speaking at a fintech event Tuesday, U.K. Finance Minister Rachel Reeves announced plans for a “comprehensive regulatory regime for crypto assets,” adding that the proposals would aim to make the country a “world leader in digital assets.”

The rules will bring crypto exchanges, dealers and agents into the regulatory fold, “cracking down on bad actors while supporting legitimate innovation,” the U.K.’s Treasury department said in a statement released following Reeves’ remarks.

“Crypto firms with UK customers will also have to meet clear standards on transparency, consumer protection, and operational resilience — just like firms in traditional finance,” the Treasury’s statement added.

Reeves said that the U.K. planned to deepen regulatory cooperation with the U.S. to boost “responsible” adoption of digital assets. “For the U.K. to be a world leader in digital assets, international cooperation is vital,” she told attendees at fintech industry group Innovate Finance’s annual summit.

The U.K. finance minister met with her U.S. counterpart Scott Bessent last week to discuss a trade deal. She had previously said that improving business ties with the European Union was “arguably even more important.”

“Regulation must support business, not hold it back,” Reeves said Thursday.

Crypto industry insiders say the Financial Conduct Authority — which is the U.K.’s financial services watchdog — has been too restrictive when it comes to approving registrations from digital asset firms.

The FCA is the regulator responsible for registering firms that want to provide crypto services within the scope of money laundering regulations in the U.K.