Group 1: Credit Rating Downgrade - Fitch Ratings downgraded France's sovereign credit rating from AA- to A+ due to a lack of a credible fiscal consolidation plan supported by a majority [1][3][4] - France's fiscal deficit for 2024 is projected to reach 5.4% of GDP, with public debt totaling 114% of GDP, contributing to political instability and uncertainty regarding the 2026 budget [4][5] Group 2: U.S. Stock Market Performance - U.S. stock indices showed mixed results, with the Nasdaq reaching a new historical high, while the S&P 500 briefly surpassed 6600 points before closing down 0.05% [1][7] - Major tech stocks performed well, with Tesla rising over 7% and gaining approximately 14% over two trading days, leading the tech sector [1][9] Group 3: Federal Reserve Expectations - The market anticipates 2 to 3 interest rate cuts from the Federal Reserve this year, with Morgan Stanley predicting four consecutive meetings of rate cuts [1][8] - Recent economic data suggests a potential softening of the core Personal Consumption Expenditures (PCE) price index, indicating a quicker move towards neutral interest rates [8] Group 4: Tesla's Developments - Tesla's stock surged due to the approval of its autonomous taxi service, Robotaxi, by the Nevada DMV, marking a significant milestone for the company [11][12] - The company aims to expand its autonomous ride-hailing service to cover a large portion of the U.S. population by the end of the year, pending regulatory approvals [12] Group 5: Gemini's IPO - Gemini, a cryptocurrency exchange, went public on Nasdaq with an IPO price of $28 per share, peaking at $45.89 during trading, ultimately closing at $32, raising $425 million [14][17] - The partnership with Nasdaq aims to enhance Gemini's institutional client base and expand its influence in traditional financial markets [17][18]