According to The Kobeissi Letter, the US announced the start of new trade talks with China and repealed Biden-era chip export bans within the last 24 hours. Despite these significant policy shifts, the S&P 500 only gained 20 points on this news, raising questions about fading momentum in traditional markets. For crypto traders, this muted stock market response suggests potential for increased capital rotation into digital assets, as risk-on sentiment in equities appears subdued. Monitoring correlations between the S&P 500 and major cryptocurrencies like Bitcoin could offer actionable trading signals in the near term. (Source: The Kobeissi Letter, Twitter, May 7, 2025)