🧪 Why are markets pumping?

The UK struck a headline-grabbing trade deal with the U.S. (spoiler: we got the better end), Coinbase tripped over earnings while Bitcoin moonwalked past $100K, and crypto is pumping.

May 09, 2025

Good Morning! 

The UK struck a headline-grabbing trade deal with the U.S. (spoiler: we got the better end), Coinbase tripped over earnings while Bitcoin moonwalked past $100K, and crypto is pumping.

Let’s get into it 👇

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📈 What’s Moving Markets Today?

🇺🇸🇬🇧 Tea & Tariffs: The U.S.-U.K. Trade Deal is More Bark Than Bite

Call the Queen. Light up the White House. We’ve got ourselves a trade deal between the U.S. and the UK, the first of its kind post-Brexit. But before anyone breaks out the champagne, let’s be real: this “deal” looks more like a PR win for Trump than a breakthrough in global commerce.

📌 What Actually Happened:

  • Tariffs Stay Put: Despite the photo ops, a 10% blanket tariff on U.K. imports remains, and no formal document was even signed during the announcement.

  • A Few British Wins: The U.K. snagged some relief, tariff breaks on 100,000 vehicle exports and “ongoing discussions” around steel and aluminum tariffs.

  • Who Really Won? The U.S. already runs a trade surplus with Britain, so keeping tariffs intact doesn’t exactly scream “concession.”

  • Industry Response: “Just noise,” said Andy Abbott, CEO of Atlantic Container Line. That’s from a guy whose entire job revolves around transatlantic shipping.

📈 Wall Street Pops Champagne, London Sips Tea

Markets responded like someone just told them it was Friday, all three major U.S. indexes rallied on the trade deal news. But across the pond? The FTSE 100 basically shrugged.

📌 Market Moves:

  • S&P 500: +0.58%

  • Dow Jones: +0.62%

  • Nasdaq Composite: +1.07%, helped by a solid tech bounce

  • FTSE 100: Down 0.32% despite the deal—apparently, British investors read the fine print.

🏦 BoE Blinks First: Rate Cut in the UK

The Bank of England cut rates to 4.25% from 4.5%, as inflation finally started acting like it remembered what moderation means. Traders had priced this in, but it still adds a layer of stimulus in the background.

📌 Why It Matters:

  • Inflation Cooling: Annual inflation eased to 2.6% in March, down from 2.8%.

  • Policy Split: A split vote shows some BoE members wanted a deeper cut, while others said “hold up, let’s wait.”

  • Risk-On Boost: Lower rates help risk assets, expect equities, and maybe even crypto to ride the wave.

🪙 Coinbase Misses While Bitcoin Breaks $100K

Talk about awkward timing. Coinbase dropped its Q1 earnings, missing estimates the same day Bitcoin soared past $100K for the first time since February.

📌 Coin Highlights:

  • Revenue Miss: Q1 revenue came in light as consumer trading volume fell 17% quarter-over-quarter (CNBC).

  • Stock Reaction: Shares dropped nearly 3% in extended trading.

  • Crypto Chaos: Bitcoin’s rise triggered over $750 million in short liquidations, the biggest single-day flush since 2023.

Oh, and Ether surged 20%, leading a rally across altcoins, SOL, ADA, DOGE, BNB, and XRP all jumped between 7–20%.

⛪️ Holy Market Surprise: America Has a Pope

In case global finance wasn’t weird enough today, Cardinal Robert Francis Prevost was elected Pope, the first American to lead the Roman Catholic Church.

📌 Fun Facts:

  • Took the name Pope Leo XIV

  • Trump called it a “Great Honor” for America

  • Market impact? Zero. But hey, history was made.

Stay ahead, stay informed, and most importantly, stay profitable.

‘til next time,

TradingLab