Evening digest: US-China thaw, Nvidia fights Burry claims, Bitcoin nears $90K breakout
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Global markets were buzzing today as Washington hinted at a potential reset with Beijing, Nvidia hit back at sharp accusations from Michael Burry, and the UK moved to lift wages for millions despite business pushback.
Crypto traders also had plenty to chew on, with Bitcoin inching toward a key breakout level as rate-cut hopes rise.
Here’s a quick look at the biggest stories shaping the evening.
White House eyes China reset
US Treasury Secretary Scott Bessent sounded pretty upbeat about the state of US–China relations.
In an interview on CNBC, he said we could actually see up to four meetings between President Trump and China’s President Xi in 2026.
The idea is that both countries are trying to keep things steady and avoid disrupting the fragile trade truce they’ve got going.
Bessent pointed out that having strong relationships at the top really matters. He was realistic too, he said the US and China are “always going to be rivals,” but that doesn’t mean they can’t cooperate when it counts.
What this really signals is that the administration is leaning into diplomacy, even with all the ongoing tensions over trade and tech.
And if these high-level talks happen regularly, it could open the door to more productive negotiations on tariffs, technology issues, and other sticking points between the two countries.
Nvidia rejects Burry’s allegations
Short-seller Michael Burry is taking a swing at Nvidia, accusing the company of using accounting tricks similar to what Enron did.
He claims Nvidia is downplaying how much its AI hardware depreciates and is boosting its earnings by helping finance customers like CoreWeave.
Nvidia pushed back hard. The company sent analysts a detailed memo saying none of that is true, no special-purpose vehicles, no vendor financing schemes, and no loose payment terms.
They pointed out that their days’ sales outstanding is 53 days, which they say shows they’re collecting payments normally.
Nvidia did admit it’s made about $4.7 billion in strategic investments this year, but stressed that the companies it invests in raise most of their money from outside sources, not from Nvidia propping them up.
They also highlighted their strong cash flow, nearly $24 billion in operating cash, as proof that their revenue is solid and not the result of any shady accounting.
In short, Nvidia’s message is: the numbers are real, and there’s no systemic fraud.
UK raises living wage
The UK government just signed off on a 4.1% boost to the National Living Wage, taking it to £12.71 an hour starting April 2026.
That means about 2.4 million workers aged 21 and over will get roughly £900 more a year, a solid lift, especially with the cost of living still biting.
Younger workers are getting bumps too: pay for 18- to 20-year-olds will jump 8.5% to £10.85 an hour, and 16- to 17-year-olds, along with apprentices, will see their rate rise 6% to £8 an hour.
Chancellor Rachel Reeves says the increases are meant to help lower-income workers who are struggling to keep up with everyday expenses. But not everyone’s thrilled.
Hospitality groups and business associations are warning that higher wages could push prices up for consumers and make employers more cautious about hiring.
Even so, the Low Pay Commission, the independent body that recommended the changes, points out that previous wage hikes haven’t done much damage to employment overall.
Bitcoin eyes $90K breakout
Bitcoin was trading around $87,598 on Tuesday, and it’s finally showing some signs of bouncing back.
A lot of the optimism comes from growing expectations that the Federal Reserve might start cutting interest rates soon.
Over the past few sessions, Bitcoin’s been moving between about $86,187 and $89,000, with traders eyeing $90,000 as the next big resistance level and $85,000 as the key support.
It’s been a wild year. Bitcoin hit a high of $126,000 in October, then slid all the way down to around $75,000 in April.
Even so, sentiment is turning positive again. In recent market polls, roughly 64% of people think Bitcoin is on track to break $100,000.
Other major cryptocurrencies are perking up, too. Ethereum, XRP, BNB, and Solana all notched gains in the 2–8% range over the past day.
A lot of that momentum is tied to rate-cut expectations as well. CME FedWatch data now gives about a 70% chance of a 25-basis-point cut from the Fed, which is helping boost risk assets across the board.
The post Evening digest: US-China thaw, Nvidia fights Burry claims, Bitcoin nears $90K breakout appeared first on Invezz
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$ 87.27K
-1.73%
$ 2.94K
-0.53%
$ 2.20
-2.07%
$ 859.14
-1.00%
$ 138.14
-0.64%Funds
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$ 87.27K
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Evening digest: US-China thaw, Nvidia fights Burry claims, Bitcoin nears $90K breakout
Share:
Global markets were buzzing today as Washington hinted at a potential reset with Beijing, Nvidia hit back at sharp accusations from Michael Burry, and the UK moved to lift wages for millions despite business pushback.
Crypto traders also had plenty to chew on, with Bitcoin inching toward a key breakout level as rate-cut hopes rise.
Here’s a quick look at the biggest stories shaping the evening.
White House eyes China reset
US Treasury Secretary Scott Bessent sounded pretty upbeat about the state of US–China relations.
In an interview on CNBC, he said we could actually see up to four meetings between President Trump and China’s President Xi in 2026.
The idea is that both countries are trying to keep things steady and avoid disrupting the fragile trade truce they’ve got going.
Bessent pointed out that having strong relationships at the top really matters. He was realistic too, he said the US and China are “always going to be rivals,” but that doesn’t mean they can’t cooperate when it counts.
What this really signals is that the administration is leaning into diplomacy, even with all the ongoing tensions over trade and tech.
And if these high-level talks happen regularly, it could open the door to more productive negotiations on tariffs, technology issues, and other sticking points between the two countries.
Nvidia rejects Burry’s allegations
Short-seller Michael Burry is taking a swing at Nvidia, accusing the company of using accounting tricks similar to what Enron did.
He claims Nvidia is downplaying how much its AI hardware depreciates and is boosting its earnings by helping finance customers like CoreWeave.
Nvidia pushed back hard. The company sent analysts a detailed memo saying none of that is true, no special-purpose vehicles, no vendor financing schemes, and no loose payment terms.
They pointed out that their days’ sales outstanding is 53 days, which they say shows they’re collecting payments normally.
Nvidia did admit it’s made about $4.7 billion in strategic investments this year, but stressed that the companies it invests in raise most of their money from outside sources, not from Nvidia propping them up.
They also highlighted their strong cash flow, nearly $24 billion in operating cash, as proof that their revenue is solid and not the result of any shady accounting.
In short, Nvidia’s message is: the numbers are real, and there’s no systemic fraud.
UK raises living wage
The UK government just signed off on a 4.1% boost to the National Living Wage, taking it to £12.71 an hour starting April 2026.
That means about 2.4 million workers aged 21 and over will get roughly £900 more a year, a solid lift, especially with the cost of living still biting.
Younger workers are getting bumps too: pay for 18- to 20-year-olds will jump 8.5% to £10.85 an hour, and 16- to 17-year-olds, along with apprentices, will see their rate rise 6% to £8 an hour.
Chancellor Rachel Reeves says the increases are meant to help lower-income workers who are struggling to keep up with everyday expenses. But not everyone’s thrilled.
Hospitality groups and business associations are warning that higher wages could push prices up for consumers and make employers more cautious about hiring.
Even so, the Low Pay Commission, the independent body that recommended the changes, points out that previous wage hikes haven’t done much damage to employment overall.
Bitcoin eyes $90K breakout
Bitcoin was trading around $87,598 on Tuesday, and it’s finally showing some signs of bouncing back.
A lot of the optimism comes from growing expectations that the Federal Reserve might start cutting interest rates soon.
Over the past few sessions, Bitcoin’s been moving between about $86,187 and $89,000, with traders eyeing $90,000 as the next big resistance level and $85,000 as the key support.
It’s been a wild year. Bitcoin hit a high of $126,000 in October, then slid all the way down to around $75,000 in April.
Even so, sentiment is turning positive again. In recent market polls, roughly 64% of people think Bitcoin is on track to break $100,000.
Other major cryptocurrencies are perking up, too. Ethereum, XRP, BNB, and Solana all notched gains in the 2–8% range over the past day.
A lot of that momentum is tied to rate-cut expectations as well. CME FedWatch data now gives about a 70% chance of a 25-basis-point cut from the Fed, which is helping boost risk assets across the board.
The post Evening digest: US-China thaw, Nvidia fights Burry claims, Bitcoin nears $90K breakout appeared first on Invezz
In This News
Coins
$ 87.27K
-1.73%$ 2.94K
-0.53%$ 2.20
-2.07%$ 859.14
-1.00%$ 138.14
-0.64%Funds
Share:
In This News
Coins
$ 87.27K
-1.73%$ 2.94K
-0.53%$ 2.20
-2.07%$ 859.14
-1.00%$ 138.14
-0.64%Funds
Share:
Read More
Market Brief: Google’s AI Chip ambitions, US holds calls with Japan and China amid tensions