Scavino is the third top official who, along with two others, sold Trump Media stock with the combined value of up to $10 million before tariffs news

Global stocks advanced on Thursday, underpinned by optimism around artificial intelligence and the prospect of upcoming interest rate cuts, while investors kept a cautious eye on U.S. President Donald Trump's ongoing assault on international trade.

The stock market and bond market are forecasting different scenarios for the U.S. economy. The former projects optimism — higher equity prices, earnings growth, broad enthusiasm — but the latter sees weakening growth. Apollo chief economist Torsten Slok highlighted this disconnect in research published this week.

Stock markets mostly rose Thursday on optimism that governments would reach deals to avoid US tariffs, with London hitting a record high.

US stocks open mixed after Trump unveiled tariffs on 14 countries, and signed an executive order to extend the “reciprocal” tariff deadline to Aug. 1.

Stocks were flashing this warning signal before tariff jitters drove Dow down more than 400 points. Tesla and Apple don’t belong in the ‘Magnificent Seven’ anymore. These two hot tech stocks should replace them.