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If you’ve been paying attention to financial headlines lately, you may have noticed a strange pattern…
Everyone’s suddenly talking about the same thing – uncertainty – and it’s become Wall Street’s favorite scapegoat.
CEOs cite it when their companies fall short. Economists use it to hedge every forecast. The media leans on it to stir anxiety. And in April alone, the Federal Reserve used it 80 times in just one Beige Book report.
But when everyone’s busy warning about what might happen, they tend to miss what’s actually happening.
In today’s Digest, legendary investor Louis Navellier will shine a light on what is actually happening, focusing on three powerful shifts taking place right now. Collectively, they form the basis for Liberation Day 2.0, which Louis discussed in detail at his event last week.
Each of these moves is unfolding in real time – and one under-the-radar stock that Louis names below may be perfectly positioned to benefit.
Enough introduction. I’ll let Louis take it from here.
Have a good weekend,
Jeff Remsburg
In the very first Sesame Street episode, in November 1969, Kermit the Frog attempts to describe the letter “W.” A hungry Cookie Monster chomps away at the subject matter, forcing Kermit to change his prepared speech to talk about “N”… then “V”… as sections of the letter disappear.
The segment proved so memorable that Sesame Street has continued to run some version of its “letter of the day” to the present.
Fast forward to today, and the American economy is now being brought to you by the letter “U.”
Indeed, uncertainty has become the fixation of media and Wall Street alike.
Eighty-four percent of the S&P 500 companies used the term “uncertainty” in their most recent earnings calls. Moody’s used it as a reason for their recent downgrade of U.S. debt.
In fact, this word has become so prevalent that the Federal Reserve’s April 2025 “Beige Book” (its twice-a-quarter commentary on current economic conditions) used it 80 times without people really noticing. (The April 2024 version mentioned the word only 11 times.)
Now, I want to acknowledge the word is useful in some cases.
But the word “uncertainty” gives many the excuse to be a bit lazy:
It lets the media create an invisible enemy to focus readership anger…
It causes financial analysts and investors to throw up their hands and say nothing’s for sure….
It allows CEOs of S&P 500 companies to blame something else if their performance falls short…
And it also hides some facts that are absolutely crystal clear to me.
So, today, let’s review three items that are actually quite certain… what they has to do with President Trump’s three-part economic plan… why this plan matters to investors…
And one stock investors can buy right now to profit off of the president’s latest pro-business moves.
Certainty No. 1: Tax Liberation
Last week, President Trump’s “Big, Beautiful Bill,” a sweeping legislative tax proposal, passed the House. Here are three key reforms it includes…
Permanent middle-class tax cuts. It lowers the individual income tax rate. For example, the 15% bracket is dropped to 12% and 25% is lowered to 22%. There are also no taxes on tips or overtime – one of President Trump’s campaign promises.
Expanded family and child benefits. The child tax credit is permanently set at $2,000 per child. It also includes new MAGA savings accounts, with a $1,000 federal contribution for newborns.
Health and wellness savings expansion. Health savings accounts (HSAs) can be used on more than just doctor’s visits and medications. Americans can apply them toward things like fitness memberships, direct primary care and spousal flexibility.
However, President Trump isn’t stopping there… he also wants to use the revenues the U.S. makes from tariffs to cut income taxes for people making $150,000 or less. This would be the biggest change to the tax code since Trump’s first term, when he passed the Tax Cuts and Jobs Act.
These tax changes would be a huge boost for the middle class and economy. According to the House Ways and Means Committee, the Tax Cuts and Jobs Act drove wages higher, grew business investment by 20% and boosted GDP by a full percent. This could lead to trillions of dollars in additional growth over a decade.
All we need now is for the Senate to get on board, and then the Big, Beautiful Bill will become law.
Certainty No. 2: Tech Liberation
Artificial intelligence will continue to gobble up ever more electricity this year. Here’s why I’m so confident:
Last November, NVIDIA Corporation (NVDA) released its Blackwell chip, an AI platform that’s 3X to 4X faster than its predecessor. It’s also a power hog, with each B200 GPU unit consuming 1,200 watts, roughly what a household toaster needs. (Its predecessor used 700 watts.)
However, this 70% increase in power consumption doesn’t translate to 70% more electricity demand overnight. Blackwell chips can only be produced so quickly, and even the top cloud computing firms like Oracle Corporation (ORCL) and Microsoft Corporation (MSFT) have been forced to wait in line for supply.
During its first-quarter earnings call, Microsoft CEO Satya Nadella noted that profits at his firm would have been even higher if only they had the hardware.
That will change through mid-2026 as more Blackwell chips roll off the assembly line. Older generations of Nvidia’s Hopper chips will be replaced by these power-hungry Blackwell ones, and additional sites will be built to house all-new sets. More of these chips means more power will be consumed, straining an already tight U.S. energy grid further.
In addition, AI developers show no sign of lifting off the gas pedal.
In April, OpenAI launched its latest GPT-4.1 model, an AI that’s roughly 20% better at coding than its predecessor GPT-4o. The firm followed up this month with a new AI coding agent, Codex, a powerful tool that can write code, fix bugs, run tests, and answer questions.
Not to be outdone, Alphabet Inc. (GOOG) unveiled a suite of AI-powered products at its I/O developer conference on Tuesday, May 20. This included a new series of AI models, AI-generated movies, next-generation smart glasses, and AI-powered wearable devices.
Perhaps most importantly, Alphabet revealed a new AI model, code-named “Deep Think,” that is more than twice as accurate as OpenAI’s best models at certain tasks.
This AI arms race will continue, driving up demand for power-intensive Blackwell chips. No AI company can afford to get left behind, and so we expect power-generation firms will continue to see strong demand.
Certainty No. 3: Energy Liberation
On President Trump’s first day in office, he signed three new energy executive orders that would “unleash America’s affordable and reliable energy and natural resources”:
Executive Order 14154, “Unleashing American Energy”: This order boosts energy independence and economic growth. It prioritizes expanding energy production on federal lands and offshore, increasing domestic mining of critical minerals, and ending the electric vehicle (EV) mandate to promote consumer choice. It also demands a review of regulations that hinder energy development.
Executive Order 14156, “Declaring a National Energy Emergency”: This order declares a national energy emergency and directs federal agencies to use emergency powers to increase energy development. This includes identifying and utilizing domestic energy resources, streamlining leases and permitting processes, and expanding energy infrastructure. The goal is to make the U.S. more energy independent.
Executive Order 14153, “Unleashing Alaska’s Extraordinary Resource Potential”: This order is to expand resource development in Alaska. It focuses on boosting energy production, streamlining permits, and advancing infrastructure like pipelines and liquified natural gas (LNG) exports. It also restores oil and gas leasing in the Arctic National Wildlife Refuge and directs agencies to remove regulations that hinder development.
These three initiatives, I believe, may have the largest long-term impact on this country’s wealth and prosperity. The reality is we’re sitting on over $100 trillion worth of energy and natural resources right here in America.
That’s almost four times larger than our annual GDP and three times larger than our national debt. That means we can wipe out the national debt three times over just by tapping into the assets we have buried in our own backyard. This would be a game-changer for our economy.
All Part of President Trump’s Liberation Day 2.0
The reason why I believe tax liberation, tech liberation and energy liberation are certainties is because they fall under President Trump’s three-part economic plan. I like to call it Liberation Day 2.0.
Investors looking for a place to buy may want to investigate the president’s latest “liberation.”
On Friday, May 23, he signed a series of executive orders with the goal of “re-establishing the United States as the global leader in nuclear energy.” The orders slash regulations, with the aim to increase American nuclear energy capacity from 100 gigawatts to 400GW by 2050 and to “have 10 new large reactors with complete designs under construction by 2030.”
Nuclear stocks jumped on the news… but they still have plenty of room to run as AI’s need for power continues to soar. One of my favorite nuclear stocks at the moment is Vistra Corp. (VST).
This Irving, Texas-based company is one of the biggest power generators in the United States, with about 37,000 megawatts of power generated from natural gas, nuclear, solar and battery storage facilities. The company offers reliable and efficient power solutions to approximately 4 million customers – residential, commercial and industrial – in 20 states, and Washington, D.C.
And in March 2024, Vistra completed a $3.4 billion deal to acquire Energy Harbor, making it the second-largest American nuclear power provider.
It rates a “B” in my Stock Grader system, and I recommend it in several of my paid services. Investors curious about nuclear energy “liberation” should take a closer look at VST.
Of course, that’s not the only way to profit from Liberation Day 2.0.
The three sectors I expect to dominate during the next phase of Trump 2.0 – and a top-ranked “buy” pick for each sector.
The sectors I believe will suffer the most as we transition to the new Trump economy – and 10 stocks my Stock Grader system and I say to avoid and/or sell now.
The strategy I’m using to help my readers target $2,500… $5,000… even $10,000 paydays.
And details on the Stock Grader system that’s helped me beat Wall Street at its own game for nearly five decades.
Louis Navellier hereby discloses that as of the date of this email, he, directly or indirectly, owns the following securities that are the subject of the commentary, analysis, opinions, advice, or recommendations in, or which are otherwise mentioned in, the essay set forth below:
Dollar Tree and Dollar General are scheduled to report first-quarter results in the coming days.
Analysts mostly rate the stocks as a “hold” or “buy,” but each has an average price target slightly below current prices.
UBS analysts said in a recent note that they believe there are “more tailwinds than risks and uncertainties” for dollar stores in the current environment.
Dollar General (DG) and Dollar Tree (DLTR) are set to report their first-quarter results before the opening bell Tuesday and Wednesday, respectively, with analysts staying cautious on the discount retailers’ stocks.
Eight analysts tracked by Visible Alpha says Dollar General’s stock is a “hold” and five call it a “buy,” while five rate Dollar Tree a “hold,” four a “buy,” and one a “sell.” Per Visible Alpha, Dollar General stock has a consensus price target of $95.31 compared with its closing level Friday of $97, while Dollar Tree’s price target of $85.40 sits just below its closing price just above $90.
Dollar General is expected to report earnings per share (EPS) of $1.47 on revenue that rose 3.5% year-over-year to $10.26 billion, with a 1.2% bump in comparable-store sales. Meanwhile, Dollar Tree is seen posting adjusted EPS of $1.15 on net sales that increased 9% to $4.53 billion, as well as comparable sales that rose 3.8%.
Analysts See ‘More Tailwinds Than Risks’ Amid Tariffs, Consumer Uncertainty
UBS analysts said in a recent note that they believe there are “more tailwinds than risks and uncertainties” for dollar stores in the current environment, citing consumers looking to trade down as a key benefit. They also see increased traffic for the stores from the closing of competitors Big Lots and Party City, as well as a potential shift away from online marketplaces like Shein and PDD Holdings’ (PDD) Temu as their prices could rise as the de minimis exception goes away.
Analysts from Oppenheimer recently wrote that they “overall expect both players to at least meet consensus expectations” for the first quarter. However, the analysts said they believe Dollar General will affirm its full-year outlook while Dollar Tree may look to cut its guidance due to its greater exposure to imports and discretionary spending, which could be impacted by tariffs.
Last quarter, Dollar General missed profit estimates following a review of its store portfolio that will lead the chain to close nearly 150 namesake and pOpshelf stores. Dollar Tree excluded Family Dollar’s performance from its Q4 results, as the company announced an agreement to sell the brand to a pair of private-equity firms for $1 billion.
Dollar General shares have risen about 28% year-to-date through Friday’s close, while those of Dollar Tree are up roughly 20%.
The blueprint for turning today’s so-called “uncertainty” into tomorrow’s opportunity…
Editor’s Note: Uncertainty is everywhere. Just look at the fact that more than 350 S&P 500 companies cited the word “uncertainty” on their latest earnings calls, the highest in years.
But legendary investor Louis Navellier says the real story isn’t about what’s unclear – it’s about three major economic shifts that are already happening with full clarity.
He calls it Liberation Day 2.0 – a sweeping trifecta of Tax Liberation, Tech Liberation, and Energy Liberation, powered by President Trump’s latest policies.
Louis believes this plan could unlock up to $10 trillion in new stimulus, create millions of jobs, and trigger a generational bull market.
This week, Louis went live with a brand-new briefing – The Liberation Day Summit – where he revealed:
A stock he believes could hand investors $5,000–$15,000 in gains
Three sectors set to dominate under Trump 2.0
Ten stocks he says to sell immediately
And the strategy he’s using to help readers capture big paydays
Don’t miss Louis’ full blueprint for turning today’s so-called “uncertainty” into tomorrow’s opportunity.
Now, take it away, Louis…
In the very first Sesame Street episode, in November 1969, Kermit the Frog attempts to describe the letter “W.” A hungry Cookie Monster chomps away at the subject matter, forcing Kermit to change his prepared speech to talk about “N”… then “V”… as sections of the letter disappear.
The segment proved so memorable that Sesame Street has continued to run some version of its “letter of the day” to the present.
Fast forward to today, and the American economy is now being brought to you by the letter “U.”
Indeed, uncertainty has become the fixation of media and Wall Street alike.
Eighty-four percent of the S&P 500 companies used the term “uncertainty” in their most recent earnings calls. Moody’s used it as a reason for their recent downgrade of U.S. debt.
In fact, this word has become so prevalent that the Federal Reserve’s April 2025 “Beige Book” (its twice-a-quarter commentary on current economic conditions) used it 80 times without people really noticing. (The April 2024 version mentioned the word only 11 times.)
Now, I want to acknowledge the word is useful in some cases.
But the word “uncertainty” gives many the excuse to be a bit lazy:
It lets the media create an invisible enemy to focus readership anger…
It causes financial analysts and investors to throw up their hands and say nothing’s for sure….
It allows CEOs of S&P 500 companies to blame something else if their performance falls short…
And it also hides some facts that are absolutely crystal clear to me.
So, today, let’s review three items that are actually quite certain… what they has to do with President Trump’s three-part economic plan… why this plan matters to investors…
And one stock investors can buy right now to profit off of the president’s latest pro-business moves.
Certainty No. 1: Tax Liberation
Recently, President Trump’s “Big, Beautiful Bill,” a sweeping legislative tax proposal, passed the House. Here are three key reforms it includes…
Permanent middle-class tax cuts. It lowers the individual income tax rate. For example, the 15% bracket is dropped to 12% and 25% is lowered to 22%. There are also no taxes on tips or overtime – one of President Trump’s campaign promises.
Expanded family and child benefits. The child tax credit is permanently set at $2,000 per child. It also includes new MAGA savings accounts, with a $1,000 federal contribution for newborns.
Health and wellness savings expansion. Health savings accounts (HSAs) can be used on more than just doctor’s visits and medications. Americans can apply them toward things like fitness memberships, direct primary care and spousal flexibility.
However, President Trump isn’t stopping there… he also wants to use the revenues the U.S. makes from tariffs to cut income taxes for people making $150,000 or less. This would be the biggest change to the tax code since Trump’s first term, when he passed the Tax Cuts and Jobs Act.
These tax changes would be a huge boost for the middle class and economy. According to the House Ways and Means Committee, the Tax Cuts and Jobs Act drove wages higher, grew business investment by 20% and boosted GDP by a full percent. This could lead to trillions of dollars in additional growth over a decade.
All we need now is for the Senate to get on board, and then the Big, Beautiful Bill will become law.
Certainty No. 2: Tech Liberation
Artificial intelligence will continue to gobble up ever more electricity this year. Here’s why I’m so confident:
Last November, NVIDIA Corporation (NVDA) released its Blackwell chip, an AI platform that’s 3X to 4X faster than its predecessor. It’s also a power hog, with each B200 GPU unit consuming 1,200 watts, roughly what a household toaster needs. (Its predecessor used 700 watts.)
However, this 70% increase in power consumption doesn’t translate to 70% more electricity demand overnight. Blackwell chips can only be produced so quickly, and even the top cloud computing firms like Oracle Corporation (ORCL) and Microsoft Corporation (MSFT) have been forced to wait in line for supply.
During its first-quarter earnings call, Microsoft CEO Satya Nadella noted that profits at his firm would have been even higher if only they had the hardware.
That will change through mid-2026 as more Blackwell chips roll off the assembly line. Older generations of Nvidia’s Hopper chips will be replaced by these power-hungry Blackwell ones, and additional sites will be built to house all-new sets. More of these chips means more power will be consumed, straining an already tight U.S. energy grid further.
In addition, AI developers show no sign of lifting off the gas pedal.
Last month, OpenAI launched its latest GPT-4.1 model, an AI that’s roughly 20% better at coding than its predecessor GPT-4o. The firm followed up this month with a new AI coding agent, Codex, a powerful tool that can write code, fix bugs, run tests, and answer questions.
Not to be outdone, Alphabet Inc. (GOOG) unveiled a suite of AI-powered products at its I/O developer conference last Tuesday, May 20. This included a new series of AI models, AI-generated movies, next-generation smart glasses, and AI-powered wearable devices.
Perhaps most importantly, Alphabet revealed a new AI model, code-named “Deep Think,” that is more than twice as accurate as OpenAI’s best models at certain tasks.
This AI arms race will continue, driving up demand for power-intensive Blackwell chips. No AI company can afford to get left behind, and so we expect power-generation firms will continue to see strong demand.
Certainty No. 3: Energy Liberation
On President Trump’s first day in office, he signed three new energy executive orders that would “unleash America’s affordable and reliable energy and natural resources”:
Executive Order 14154, “Unleashing American Energy”: This order boosts energy independence and economic growth. It prioritizes expanding energy production on federal lands and offshore, increasing domestic mining of critical minerals, and ending the electric vehicle (EV) mandate to promote consumer choice. It also demands a review of regulations that hinder energy development.
Executive Order 14156, “Declaring a National Energy Emergency”: This order declares a national energy emergency and directs federal agencies to use emergency powers to increase energy development. This includes identifying and utilizing domestic energy resources, streamlining leases and permitting processes, and expanding energy infrastructure. The goal is to make the U.S. more energy independent.
Executive Order 14153, “Unleashing Alaska’s Extraordinary Resource Potential”: This order is to expand resource development in Alaska. It focuses on boosting energy production, streamlining permits, and advancing infrastructure like pipelines and liquified natural gas (LNG) exports. It also restores oil and gas leasing in the Arctic National Wildlife Refuge and directs agencies to remove regulations that hinder development.
These three initiatives, I believe, may have the largest long-term impact on this country’s wealth and prosperity. The reality is we’re sitting on over $100 trillion worth of energy and natural resources right here in America.
That’s almost four times larger than our annual GDP and three times larger than our national debt. That means we can wipe out the national debt three times over just by tapping into the assets we have buried in our own backyard. This would be a game-changer for our economy.
All Part of President Trump’s Liberation Day 2.0
The reason why I believe tax liberation, tech liberation and energy liberation are certainties is because they fall under President Trump’s three-part economic plan. I like to call it Liberation Day 2.0.
Investors looking for a place to buy may want to investigate the president’s latest “liberation.”
He signed a series of executive orders with the goal of “re-establishing the United States as the global leader in nuclear energy.” The orders slash regulations, with the aim to increase American nuclear energy capacity from 100 gigawatts to 400GW by 2050 and to “have 10 new large reactors with complete designs under construction by 2030.”
Nuclear stocks jumped on the news… but they still have plenty of room to run as AI’s need for power continues to soar. One of my favorite nuclear stocks at the moment is Vistra Corp. (VST).
This Irving, Texas-based company is one of the biggest power generators in the United States, with about 37,000 megawatts of power generated from natural gas, nuclear, solar and battery storage facilities. The company offers reliable and efficient power solutions to approximately 4 million customers – residential, commercial and industrial – in 20 states, and Washington, D.C.
And in March 2024, Vistra completed a $3.4 billion deal to acquire Energy Harbor, making it the second-largest American nuclear power provider.
It rates a “B” in my Stock Grader system, and I recommend it in several of my paid services. Investors curious about nuclear energy “liberation” should take a closer look at VST.
Of course, that’s not the only way to profit from Liberation Day 2.0.
The three sectors I expect to dominate during the next phase of Trump 2.0 – and a top-ranked “buy” pick for each sector.
The sectors I believe will suffer the most as we transition to the new Trump economy – and 10 stocks my Stock Grader system and I say to avoid and/or sell now.
The strategy I’m using to help my readers target $2,500… $5,000… even $10,000 paydays.
And details on the Stock Grader system that’s helped me beat Wall Street at its own game for nearly five decades.
Defense Secretary Pete Hegseth has built his wealth through his time as a host for Fox News, speaking engagements, and book royalties.
Hegseth and his wife, former Fox News producer Jennifer Hegseth have a net worth of $3 million, according to an estimate by Forbes.
Hegseth has earned between $100,000 and $1 million in royalties for his books.
U.S. Secretary of Defense Pete Hegseth has built his multimillion-dollar wealth through his time as a host for Fox News, speaking engagements, and book royalties.
Hegseth was a television commentator before joining President Donald Trump’s second administration; he also served in the Army National Guard for several years, and was part of several active-duty deployments. He was confirmed in January.
Hegseth and his wife, former Fox News producer Jennifer Hegseth, have an estimated net worth of $3 million, according to Forbes. Here’s how Hegseth made his millions.
Fox News Salary
Prior to his role as Secretary of Defense, Hegseth was a co-host on Fox News’s “Fox & Friends Weekend.” Hegseth reported a total of $4.6 million in salary for 2023 and 2024 as a Fox News host on his most recent financial disclosure.
Speaking Engagements and Book Royalties
Hegseth has earned at least $900,000 from 41 speeches listed on his financial disclosure. Hegseth has earned anywhere from $10,000 to $20,000 and up to $150,000 per speech, according to the disclosure.
Hegseth also receives royalties from the books he has written. He received $348,000 as an advance for his book “The War on Warriors”, and $150,00 in advance for his book “Battle for the American Mind”, per his financial disclosure.
The former Fox News host also earned between $100,000 and $1 million in royalties for each book. (The disclosure only requires that a range be provided.)
Other Investments and Real Estate
Per his disclosure, Hegseth earned anywhere from $100,000 to $1 million on a rental house in Baltimore, Md. Hegseth and his wife also own an estate in Goodlettsville, Tenn,, worth an estimated $3.2 million and which costs about $19,000 per month in mortgage, according to an estimate by Forbes.
Hegseth also owns between $15,000 and $50,000 in bitcoin, per his disclosure.
Broadcom’s fiscal second-quarter results are due after the closing bell Thursday.
Wall Street expects the chipmaker to report growing revenue and profits fueled by demand for AI.
Most analysts tracked by Visible Alpha have a “buy” or equivalent rating, but their consensus price target suggests they don’t see big gains for the stock.
Broadcom (AVGO) is scheduled to report fiscal second-quarter results after the closing bell Thursday, with Wall Street expecting growing revenue and profits fueled by demand for AI chips.
Analysts on average expect Broadcom to report revenue of $15.02 billion, up 20% year-over-year, and adjusted net income of $7.8 billion, up from $5.39 billion a year ago. AI revenue is expected to climb 42% year-over-year and 7% sequentially to $4.42 billion.
Oppenheimer analysts called Broadcom the “No. 2 AI franchise after NVDA,” in a note to clients Thursday, raising their price target to $265 from $225. Broadcom’s “core franchises in networking, wireless, broadband, server/storage, and software support sustainable growth,” the analysts said. “We remain long-term buyers.”
Of the 14 analysts tracked by Visible Alpha, 13 have a “buy” or equivalent rating for Broadcom stock, with one “hold.” However, their consensus price target near $247 would suggest just 2% upside from Friday’s close.
After Nvidia’s (NVDA) strong sales report Wednesday helped propel the chipmaker to briefly reclaim the title of most valuable company in the world, Morgan Stanley analysts said they “also are positive on [Broadcom] in the AI space, but we are hard pressed to generate additional enthusiasm.”
Shares of Broadcom have added just over 4% in 2025 so far.
The Internal Revenue Service (IRS) has its hand out for tax dollars associated with your generosity, but there are tax-smart loopholes. In fact, the IRS will even let you give away $1 million without sending you a bill. You can gift $19,000 per person per year as of 2025 or $13.99 million throughout your lifetime if you should pass in this year.
Key Takeaways
The federal gift tax is payable by the donor, not the recipient of the gift.
You can give away up to $19,000 per person per year tax-free in 2025.
You can gift up to $13.99 million as of 2025 if you combine the value of your gifts over $19,000 with the value of your estate.
Some types of gifts are tax-free.
What Is a Taxable Gift?
The IRS potentially applies the federal gift tax to “the transfer of property by one individual to another while receiving nothing, or less than full value, in return.” It adds this caution: “The tax applies whether or not the donor intends the transfer to be a gift.”
This includes future interests in property. The recipient won’t own or derive income from this type of gift until some date in the future.
“A ‘gift’ is any transfer of funds, property, or assets for which the receiver doesn’t give an equivalent fair market value in exchange,” according to William “Bill” London, an estate planning attorney with Kimura, London & White LLP in California and New York. “This includes cash gifts, loan forgiveness, or the sale of property at a price less than its true value. Interest-free loans can also be classified as gifts under IRS rules.”
Important
Fair market value is what a willing buyer would pay for the gift and what the seller would be willing to accept for it if neither were under duress to make the transaction and both were fully knowledgeable about its details.
How the Gift Tax Works
The federal gift tax is payable by the donor of a gift, not the recipient, and a portion of the value of all gifts is exempt.
The exclusion is $19,000 per person per year as of 2025. The amount is adjusted annually to keep pace with inflation. It was $18,000 in 2024. These amounts can double when spouses make gifts to the same individual because each spouse is entitled to claim that $19,000 exemption. The recipient can therefore receive $38,000 tax-free.
If You Go Over the Limit
You still won’t have to pay tax on gifts with values over the annual threshold unless you’re extremely generous and your estate is worth many millions of dollars at the time of your death. Annual gifts you make during your lifetime that exceed the exclusion for the applicable year can be carried over to the value of your estate, making it subject to a lifetime gift and estate tax exclusion of $13.99 million as of 2025.
You do have to notify the IRS annually of any non-exempt portion you’re carrying forward, however. This involves filing IRS Form 709.
“Gifts over the $19,000 annual limit don’t automatically trigger tax,” says Laura Cowan, an estate planning attorney and founder of 2-Hour Lifestyle Lawyer. “The excess reduces your lifetime exemption. You need to file Form 709 if the gift to an individual exceeds the annual exclusion per person per year. If you give $20,000 to one person, you have to file 709. If you give $18,000 each to 10 people, no filing is needed.”
Yes, you read that right. You can gift well more than $1 million in 2025. You can give up to $13.99 million by combining your annual gifts with the value of your estate. But we’re talking taxes here, and taxes involve the government, so it should come as no surprise that a catch is looming on the horizon.
Effect of the Tax Cuts and Jobs Act
The federal Tax Cuts and Jobs Act (TCJA) effectively doubled the lifetime gift and estate tax exclusion when the law passed in December 2017 but this provision is set to expire at the end of 2025. The lifetime exclusion will plunge back to pre-2018 limits at that time if Congress doesn’t take steps to renew this provision. The pre-2018 exclusion was $5 million although the figure will be adjusted for inflation.
You might want to consider some legal workarounds and give as much as possible before December 2025 comes to a close. The IRS indicated in November 2019 that taxpayers who take advantage of the increased exclusion won’t be adversely affected when the terms of the TCJA expire.
Workarounds and Exceptions
Not only can each spouse give the same individual $19,000, but they can also give the same individual $19,000 on Dec. 31 and the annual exclusion amount for the new year on Jan. 1, effectively doubling it in this respect as well. It’s a per-year limit. You and your spouse can give your child and their spouse $76,000, each of you gifting the $19,000 limit to each of them without carrying any portion over to a future year.
The lifetime exclusion also includes a portability provision that you can make use of if you’re married. You can transfer any unused portion of your $13.99 lifetime gift and estate tax exclusion to your spouse if you should die in 2025 or up to the amount of the 2026 limit if Congress doesn’t take action to maintain the TCJA provisions beyond the Dec. 31, 2025, deadline.
Some loopholes exist with regard to the type of gift you’re making as well. “One item to be aware of if you’re likely to exceed your lifetime exemption is that certain types of gifts aren’t taxable,” advises Matt Hylland, a flat-fee, fee-only financial planner and investment advisor at Arnold and Mote Wealth Management in Cedar Rapids, Iowa. “Paying tuition or medical expenses isn’t considered a taxable gift. If you can direct your support for your family to directly pay for tuition or medical expenses, you may be able to avoid some gift tax liability.”
The Bottom Line
The federal tax rate on gifts and estates is a cringeworthy 40% as of 2025. You’ll have to pay it if you neglect to file Form 709 to keep the IRS up to speed on your annual gifts or if your gifts exceed the lifetime exclusion that’s in place in the year of your death. Planning and taking advantage of tactical gifting can be critical if you enjoy a high-net-worth estate, particularly if the TCJA terms expire in 2026.
Trade with Mexico is enormously important to the United States. In 2024, the U.S. imported approximately $506 billion in goods from Mexico. That’s approximately 15% of all imports by dollar value, making Mexico the U.S.’s largest import trading partner and ousting Canada and China.
Key Takeaways
Mexico is the United States’ largest import partner. In 2024, the U.S. imported $506 billion worth of goods from its southern neighbor, more than from China or Canada.
The United States-Mexico-Canada Agreement (USCMA) is a large factor in the successful trading relationship between the U.S. and Mexico.
China was previously the largest U.S. trading partner, but increased tariffs in the late 2010s caused U.S. businesses to nearshore production.
The largest imports from Mexico include cars, motor vehicle parts, and computers.
United States-Mexico-Canada Agreement (USCMA)
The United States, Mexico, and Canada have closely integrated economies due to the United States-Mexico-Canada Agreement (USCMA), which replaced NAFTA in 2020. USCMA updated the older free trade agreement and added new rules for digital trade, labor protections, and environmental standards.
USCMA stipulates that 75% of auto components must be made in North America to qualify for tariff-free status, a rule intended to increase regional production. It also requires that at least 40% to 45% of auto production in North America be done by workers earning at least $16 an hour. The goal is to close the gap between labor costs in the U.S. and Mexico.
This rule provides stability for businesses and lower costs for consumers. It also means better wages and labor rights for Mexican workers.
Imports From Mexico
The United States imports a large number of goods from Mexico. The top five import categories in 2023 were:
Automobiles and auto parts are the most significant imports. Several large U.S. auto companies, including Ford and GM, have production plants in Mexico, making cars, engines, and other products that are then returned stateside for sale.
Other important imports include insulated wire, video displays, medical equipment, air conditioners, and beer.
U.S. Exports
While the U.S. imports a large amount from Mexico, its exports are also sizeable, totalling $334 billion in 2024.
The largest exports from the United States to Mexico in 2023 included:
Refined petroleum: $29.7 billion
Motor vehicles; parts and accessories: $17.7 billion
In addition to goods, the U.S. also imported $44.8 billion worth of services in 2023.
What About China?
China used to be the United States’ largest import partner. However, in the late 2010s, during the tariff wars initiated by the first Trump administration, businesses faced many issues, such as rising costs and political tension.
Many companies started to nearshore production, moving production closer to the United States, and Mexico was a clear choice. This resulted in Mexico surpassing China as the U.S.’s largest import partner in 2023. The U.S. imported $439 billion worth of goods from China in 2024.
The Bottom Line
Trade between the U.S. and Mexico has increased, thanks to initiatives like USCMA and a partial shift away from China.
The proximity, lower labor costs, and favorable trade terms have made Mexico an important player in the U.S. supply chain. At the same time, U.S. exports to Mexico are strong, making the relationship beneficial to both countries.
Editor’s note: “How to Build Wealth in a Volatile Stock Market” was previously published in March 2025 with the title, “Beyond the Ups and Downs: Building Wealth in a Volatile Stock Market.” It has since been updated to include the most relevant information available.
The stock market has been anything but steady in early 2025. Since Donald Trump took office as the 47th President of the United States in late January, investors have endured a dizzying ride.
At first, markets stayed quiet—flat for about a month. But that calm quickly turned into chaos.
From mid-February to mid-March, the S&P 500 plunged 10% in just 20 trading days. Analysts blamed growing fears that Trump would ignite a global trade war. Those fears were realized on April 2, when Trump launched his “Liberation Day” tariffs. The move triggered a historic two-day, 10% drop in the index—marking the fifth-worst two-day crash on record.
Then came the snapback.
One week later, Trump announced a 90-day pause on those same tariffs. The market roared back. The S&P 500 surged 9.5% in a single session—the start of a massive 20% rebound over the next month.
In just 90 days, stocks had crashed 20%, then fully rebounded. That kind of volatility hasn’t been seen since the pandemic era, and it’s reshaping how investors think about political risk and policy shockwaves in 2025.
This has been arguably the most volatile and violent stock market ever. And given that Trump has been the trigger – and that he will be in the White House for the next four years – investors are naturally asking themselves:
Is this intense volatility Wall Street’s ‘new normal’?
A Bumpy Ride Higher: Why We Expect Stock Market Uncertainty to Continue
Don’t get me wrong. I think stocks are going higher over the next few years.
We’re somewhere in the middle of the AI Boom. Tech booms like these tend to last five to six years or longer. Just look at the Dot Com Boom, which started in 1995 and lasted through 1999 – five years of strong gains. The Nasdaq Composite rose about 582% during that time, while the S&P nearly tripled.
This AI Boom started in 2023. I think we have another two to three years of exceptional growth left in AI stocks. And that growth should drive the whole market higher.
However… I don’t think it’ll be a smooth ride higher…
Largely because of U.S. President Donald Trump, who promises to change a lot of things.
He wants to renegotiate trade deals and restructure global trade, rethink America’s global military presence, and cut federal spending. He wants to reduce taxes, expand America’s borders, and reshore manufacturing activity, among other things.
Clearly, he aims to change a lot.
Now, I won’t offer an argument as to whether these proposed changes are good, bad, or neutral.
But I will state the obvious: It’s a lot of change. And change is uncomfortable – especially for investors…
Because change equals uncertainty. That doesn’t mean this policy shakeup won’t push stocks higher in the long term. It may.
It simply means that, along the way, stocks will continue to be volatile – just like they’ve been over the past few months.
Stock Market Volatility by the Numbers: Record-Breaking Swings Under Trump
Since Trump was inaugurated earlier this year, we’ve seen:
One of the fastest 10% drops
Following the announcement of the “Liberation Day” tariffs on April 2, the S&P sharply declined, dropping over 12.1% in the subsequent four sessions.
One of the worst two-day crashes
On April 3-4, the market suffered a 10.5% setback, marking the fourth-worst two-day stretch since 1950.
One of the best single-day rallies
Following President Trump’s announcement of a 90-day pause on recently implemented tariffs, the S&P surged 9.5% on April 9, marking its strongest one-day performance since October 2008.
One of the best win streaks
On May 2, the S&P locked in its ninth straight day of gains – the longest winning streak in more than 20 years – rising roughly 10% over that stretch
One of the highest readings for the volatility index
The CBOE Volatility Index (VIX), often referred to as the market’s “fear gauge,” nearly doubled over six months, reaching a reading of 27.86.
This has been a three-month stretch for the record books.
If you think things will “mellow out” over the next 45 months, we think you’re sadly mistaken.
The Strategy for Surviving and Thriving in Today’s Market
Clearly, Trump isn’t playing around in his second term. He means business and intends to execute his vision, regardless of the short-term pain it may cause. That means that the volatility we’ve seen so far will likely persist throughout his tenure.
If you’re a buy-and-hold investor, that might sound scary. But that’s why I think you must become more than a buy-and-hold investor…
All these huge and violent swings in the market are giving traders lots of opportunities to buy low and sell high.
Of course, short-term trading can be risky – and notoriously hard to execute correctly. But what if you had a quant-powered system to help de-risk and simplify such a daunting endeavor?
That’s exactly what we’ve worked to build.
Meet Auspex, a quantitative, machine-driven screener that helps you get in, get out, and get paid month after month in this Age of Chaos.
It scans the market for the rarest type of opportunity – stocks that are simultaneously:
Growing earnings, revenues, and margins
Trending up across short- and long-term technicals
Getting attention from both analysts and traders
These are the strongest stocks in the entire market at any given moment.
And all it takes is about 30 minutes a month to make sure your portfolio is positioned for gains. It’s very easy to execute – and potentially very profitable.
We’re confident this is the system you need to survive – and even thrive – in today’s volatile markets.
The May jobs report due Friday comes as the Federal Reserve faces pressure to lower interest rates.
Fed Chair Jerome Powell is scheduled to deliver remarks this week, with Philadelphia Fed President Patrick Harker, Dallas Fed President Lorie Logan, and Chicago Fed President Austan Goolsbee also on the calendar.
Updated data on the U.S. trade deficit, consumer credit levels, factory orders, and construction spending is also expected.
Earnings reports are scheduled from CrowdStrike, Broadcom, Dollar Tree, Five Below, and Lululemon.
Updated employment data for May, comments from Federal Reserve Chair Jerome Powell, and several noteworthy tech and retail earnings reports highlight this week’s economic calendar.
The week follows a close to May trading, which was generally upbeat for stocks, featuring strong performances from the S&P 500 and Nasdaq Composite. Recap Investopedia’s coverage of last Friday’s trading here. The week also brought the latest set of trade ructions, with President Donald Trump on Friday raising fresh questions about the state of affairs with China.
In addition to a jobs report due Friday, investors also will be watching for reports on job openings and private-sector payrolls. Updated data on the U.S. trade deficit and consumer credit levels will be in focus, as will manufacturing and services industry data, including the Purchasing Managers Index (PMI), construction spending, and factory orders.
In addition to Powell’s comments on Monday, Fed representatives speaking this week include Philadelphia Fed President Patrick Harker, Dallas Fed President Lorie Logan, and Chicago Fed President Austan Goolsbee.
Market watchers will be tracking expected earnings reports from Broadcom (AVGO), CrowdStrike Holdings (CRWD), Hewlett Packard Enterprise (HPE), Dollar Tree (DLTR), Dollar General (DG), and Five Below (FIVE).
Monday, June 2
S&P final U.S. manufacturing PMI (May)
ISM manufacturing PMI (May)
Construction spending (April)
Federal Reserve Chair Powell, Dallas Fed President Logan, and Chicago Fed President Goolsbee are scheduled to speak
Campbell’s (CPB) and Science Applications International (SAIC) are scheduled to report earnings
Tuesday, June 3
Factory orders (April)
Job openings (April)
Dallas Fed President Logan and Chicago Fed President Goolsbee are scheduled to speak
CrowdStrike Holdings, Ferguson Enterprises (FERG), Hewlett Packard Enterprise, Dollar General, Guidewire Software (GWRE), and NIO (NIO) are scheduled to report earnings
Wednesday, June 4
ADP employment (May)
S&P final U.S. services PMI (May)
ISM services PMI (May)
Federal Reserve Beige Book
Atlanta Fed President Raphael Bostic is scheduled to speak
Dollar Tree, Descartes Systems Group (DSGX), Five Below, PVH Corp (PVH), and Thor Industries (THO) are scheduled to report earnings
Thursday, June 5
Initial jobless claims (Week ending May 31)
U.S. trade deficit (April)
U.S. productivity – first revision (Q1)
Philadelphia Fed President Harker is scheduled to speak
Broadcom, Lululemon Athletica (LULU), Samsara (IOT), and Rubrik (RBRK) are scheduled to report earnings
Friday, June 6
U.S. employment report (May)
Consumer credit (April)
Jobs Report Comes As Fed Faces Pressure on Interest Rates
The scheduled Friday release of the May U.S. jobs report will show whether the labor market continues to exhibit strength after employers added more jobs than analysts expected in April, as the unemployment rate remained at 4.2%.
Trump has been applying pressure on the Fed to cut interest rates from their current levels of 4.25% to 4.5%. Fed officials have said that they are in “wait-and-see” mode as the labor market remains strong and inflation comes under pressure from U.S. tariffs.
Earlier in the week, market watchers will get updates on job openings, private-sector payrolls, and weekly jobless claims.
Several Fed officials are scheduled to speak, including Federal Reserve Chair Powell, Dallas Fed President Logan, Chicago Fed President Goolsbee, and Philadelphia Fed President Harker. On Wednesday, the Fed’s Beige Book will provide more details on economic conditions throughout the country.
The Thursday scheduled report on the U.S. trade deficit comes as tariff threats have pushed shippers to increase imports ahead of the expected import taxes.
Investors will also be watching manufacturing and services industry surveys scheduled for release this week, as well as updated data on consumer credit levels, factory orders, and construction spending.
Tech, Retail Earnings Reports in Focus
Chipmaker Broadcom’s scheduled financial report, due Thursday, comes on the heels of industry leader Nvidia’s (NVDA) report last week that showed continued demand for artificial intelligence (AI) products. Broadcom reported a 77% jump in its AI-related revenue in its most recent financial release as company executives forecast continued growth in that sector.
Cybersecurity company CrowdStrike Holdings is expected to release its earnings on Tuesday. The firm said in early May that it planned to cut 5% of its workforce. Guidewire Software, which provides services to insurance providers, is also expected to deliver an update on its AI products Tuesday.
With consumer sentiment surveys showing increasing concerns over economic conditions, investors will be watching reports from retailers for signals on spending. Scheduled reports from Dollar General on Tuesday and Dollar Tree and Five Below on Wednesday will provide a look at consumer traffic at those stores. Campbell’s scheduled report on Monday will shine a light on food spending, while fashion brands Lululemon and Calvin Klein parent PVH also will be reporting.
