NEW YORK SILVER FUTURES PLUNGE 10% INTRADAY TO $76.70 PER OUNCE SPOT SILVER DROPS MORE THAN $7 INTRADAY TO $76.43 PER OUNCE, DOWN 8.43%

- Wall Street had a big day yesterday: The Dow Jones Industrial Average surged back above 50,000, while the S&P 500 notched its first-ever close above 7,500. Cisco surged more than 13% for its best day since 2011 following an earnings and guidance beat powered by surging demand for artificial intelligence infrastructure. Ford also extended its rally after announcing a new energy storage initiative, putting the stock up nearly 20% in the past two days. But Boeing bucked the uptrend, sinking nearly 5% after news of China’s potential order. - President Donald Trump has left Beijing following two days of meetings with Chinese President Xi Jinping. The U.S. president told reporters aboard Air Force One this morning that he refused to answer when Xi asked him if the U.S. would defend Taiwan from an attack by China. “That question was asked to me today by President Xi. I said I don’t talk about that,” he said. - Cerebras shares surged 68% in their Nasdaq debut yesterday, sending the chipmaker’s market cap to around $95 billion. It was the U.S. technology sector’s largest initial public offerings in years. - Sources said that SpaceX’s IPO prospectus could drop as early as next week. Musk’s reusable rocket company is expected to start a roadshow aimed at marketing the deal to investors early next month, according to people familiar with the matter. - The Senate banking committee on Thursday approved the Clarity Act. The act, the first piece of legislation focused on crypto, would add oversight and guardrails to the new industry. However, banks, unions and law enforcement agencies have come out against the bill citing concerns that it would hurt consumers and financial systems.

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