The U.S. stock market remains closed for the federal holiday, offering investors a pause after a strong week of gains across major indexes. Meanwhile, Meta continues its remarkable run, closing higher for the 20th consecutive trading session—marking its longest streak in history.
The U.S. Push for Ukraine’s Mineral Wealth
Negotiations Over Ukraine’s Critical Minerals
As European leaders convened last week to discuss potential resolutions to the war in Ukraine, U.S. Treasury Secretary Scott Bessent presented Ukrainian President Volodymyr Zelensky with a proposal: a request for 50% ownership rights to Ukraine’s critical mineral deposits. The deal, framed as a way for Ukraine to repay the U.S. for financial support following Russia’s 2022 invasion, has sparked controversy.
Zelensky has not signed the document, citing concerns over long-term security guarantees for Ukraine. A former Ukrainian official described the proposal as “colonial,” though negotiations remain ongoing. According to reports, Ukraine is drafting a counterproposal, with one official joking that it might involve a shipment of Ukrainian eggs to the U.S.
Why Is Ukraine’s Mineral Wealth So Valuable?
Ukraine possesses an estimated trillions of dollars worth of critical minerals essential for high-tech manufacturing. While not yet a dominant player in the global rare earth market, Ukraine has vast reserves of lithium, titanium, zirconium, and graphite—key components in EVs, semiconductors, and defense technology. The Kyiv School of Economics estimates that Ukraine holds deposits of 20 out of 50 critical raw materials.
Strategic Interests for the U.S.
- Ukraine’s Mineral Industry Needs Investment: U.S. capital could accelerate its development.
- The U.S. Seeks to Reduce Dependence on China: Diversifying supply chains for raw materials is a major geopolitical objective.
Looking Ahead
Discussions over Ukraine’s mineral resources will be a focal point in what is being described as a “decisive week” for European security, with separate U.S.-Russia negotiations over the war taking place alongside broader crisis talks among European leaders.
Key Headlines
Government Spending Cuts Face Backlash
The Department of Health and Human Services (HHS) continues to implement staff reductions, with reports that 700 CDC employees and an undisclosed number of FDA staff received termination notices over the weekend. Meanwhile, in an unexpected reversal, hundreds of nuclear weapons program employees at the National Nuclear Security Administration were reinstated late Friday.
At the same time, Elon Musk critic Steve Bannon warned Republicans not to cut Medicaid funding too aggressively, noting that a significant portion of Trump’s voter base relies on the program. Public backlash has also grown, with demonstrators gathering outside Tesla showrooms across the country to protest federal spending cuts linked to DOGE-backed cost-cutting initiatives.
Marvel’s Box Office Rebound
Marvel’s Captain America: Brave New World dominated the global box office, earning an estimated $192.4 million in its opening weekend. The film marks Disney’s return to a more selective release strategy, after audience fatigue led to diminishing returns in previous years.
While Brave New World is performing well financially, early audience feedback has been mixed, with the film receiving the lowest-ever CinemaScore rating (B-) for a Marvel movie. The studio had scaled back its production schedule following a period of oversaturation, during which it released four films and five TV series in 2021 alone.
Saturday Night Live Celebrates 50 Years
NBC aired a three-hour live special to commemorate SNL’s 50th anniversary, featuring an extensive lineup of past cast members and guest stars. Highlights included:
- Will Ferrell reprising his classic Robert Goulet impression.
- Meryl Streep making her first-ever SNL appearance in a sketch alongside Kate McKinnon, Pedro Pascal, and Woody Harrelson.
- Miley Cyrus and Brittany Howard performing “Nothing Compares 2 U.”
- Paul McCartney closing the night with a performance of “Golden Slumbers.”
Javier Milei Under Fire Over Memecoin Collapse
Argentina’s President Faces Political Crisis
Argentine President Javier Milei is embroiled in controversy after promoting $LIBRA, a cryptocurrency that plummeted 95% in value within hours of his endorsement. In a now-deleted X post, Milei had called $LIBRA a private initiative aimed at boosting Argentina’s economy.
The incident mirrors a similar move by Donald Trump, who launched his own memecoin before taking office. Following public outrage, Argentina’s opposition parties are calling for an official investigation, with some lawmakers suggesting potential impeachment proceedings.
This Week
Apple’s Next Product Launch
Apple is teasing a new product announcement on Wednesday, with CEO Tim Cook hinting at “a new family member.” While some speculate that Apple may finally release a new MacBook Air or iPad, reports suggest it’s more likely to be the next-generation iPhone SE—featuring a larger display, Face ID, and Apple’s first in-house cellular modem.
Grok 3 AI to Debut
Elon Musk has announced the imminent release of Grok 3, describing it as “the smartest AI on Earth.” Musk has scheduled a live demonstration at 11 PM ET, which will presumably be broadcast on X. The launch comes shortly after China’s DeepSeek AI stunned Silicon Valley by developing a chatbot at a fraction of the cost of U.S. competitors.
Baseball Returns for Spring Training
MLB Spring Training begins this week, with the Cubs and Dodgers opening the exhibition season on Thursday in Arizona. The defending World Series champion Dodgers enter the year with high expectations after spending $450 million in free agency.
Notable Events
- Trump to Meet Tech Leaders in Miami: The former president is scheduled to attend a tech summit hosted by Saudi Arabia’s sovereign wealth fund.
- Walmart Earnings on Thursday: For the first time, Amazon is expected to surpass Walmart in quarterly revenue.
- Hockey’s 4 Nations Face-Off Finals: The U.S. secured a spot in the final after defeating Canada in Montreal, enduring a chorus of boos during the national anthem.
Other News
- Chevron, Shell, and BP are referring to the “Gulf of America” instead of the Gulf of Mexico in financial reports.
- Amazon warehouse workers in North Carolina rejected a unionization effort by a wide margin.
- A federal judge temporarily blocked the Trump administration’s attempt to dismantle the Consumer Financial Protection Bureau.
- Severe storms in the Eastern U.S. have caused fatalities in Kentucky, with flooding and power outages affecting multiple states.
- Jannik Sinner, the world’s top-ranked men’s tennis player, has been suspended for three months due to past positive drug tests.
