OP Wire 5/23 (OP – Lite)

By Steve

OptionsPlayers Morning Wire — Final Trading Day of the Week

Markets remain on edge as politics, tariffs, earnings, and macroeconomic signals collide — but once again, OptionsPlayers systems delivered all week, stacking major gains. Today’s action could get volatile with several catalysts in play. Let’s break down everything you need to know heading into the Friday session.

Trump Targets Apple: iPhones Must Be Made in America

In a fiery Truth Social post, President Trump demanded Apple bring its iPhone manufacturing to U.S. soil or face a minimum 25% tariff. He wrote:

“I have long ago informed Tim Cook of Apple that I expect their iPhones that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else. If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S. Thank you for your attention to this matter!”

This comes as Apple’s main contractor, Foxconn (SS:601138), announces a $1.5 billion investment in Tamil Nadu, India to expand its iPhone display production — part of Apple’s broader effort to diversify supply chains into India, Vietnam, and Malaysia.

The post clearly rattled investors, contributing to the recent drop in Apple (AAPL) shares. This issue could become a flashpoint in the trade war narrative as elections approach.

Debt, Deficits, and Downgrades

The backdrop remains tense:

Moody’s downgraded U.S. sovereign credit outlook last week due to rising debt burdens.
20-year Treasury auction drew weak demand.
Yields spiked as investors dumped bonds.
The House narrowly passed a Trump-backed tax cut and spending bill that adds $3.8 trillion in new debt over the next decade, according to the CBO.

The bill now heads to the Senate, adding more fiscal uncertainty into an already nervous market.

Fed, Housing Data & Trade Watch

Markets are watching closely:

Building permits and new home sales data drop later today.
Fed Governor Waller sees a potential path to rate cuts later this year if tariffs cool and trade talks reach resolution by mid-summer:

“If we can get the tariffs down close to the 10% and then that’s all sealed, done and delivered somewhere by July, then we’re in good shape for the second half of the year.”

Markets also got a boost after a Supreme Court ruling blocked the President from firing Fed Chair Powell, providing some central bank stability despite Trump’s pressure for immediate rate cuts.

Tesla Overtaken by BYD in Europe

Chinese EV giant BYD (SZ:002594) outsold Tesla (TSLA) in Europe for the first time ever:

BYD sales: 7,231 units
Tesla: 7,165 units

Despite EU tariffs on Chinese EVs, BYD’s aggressive push is shaking up the landscape. This is a watershed moment, according to JATO Dynamics, with major implications for Tesla’s dominance in Europe.

Crude Oil Retreats – OPEC+ May Raise Output

Oil is heading for its first weekly decline in three weeks:

Brent: $64.39
WTI: $61.16
Both benchmarks are down ~2% on the week

OPEC+ may increase production by 411,000 barrels/day in July — a decision expected at their June 1 meeting. The market is also watching U.S.-Iran nuclear talks, which could open the door to more Iranian oil supply.

Market Snapshot & Technical Levels

$QQQ Tech Index: Closed yesterday at 514
- Support: 508, 500, with the gap fill down to ~493
- Resistance: 522/523, then 538 and all-time highs at 540
Bitcoin: Still hovering near $112,000 — extremely bullish for crypto miners
Gold: Holding near $3,300/oz, keeping gold miners in play

Final Word: Stack Smart, Finish Strong

It’s the last trading day of the week, and our OptionsPlayers systems crushed it again — whether it was overnight setups, intraday scalps, or swing plays.

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