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Tech stocks rallied after Trump paused import duties on smartphones, computers, and other electronics, though he warned the exemption is temporary and new semiconductor tariffs could be announced within a week. US100 added 0.38%, US500 rose by 0.78% while US30 was 0.68% higher.
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Oil markets fluctuated with WTI trading near $61 per barrel and Brent below $65, caught between Trump's temporary tariff exemptions and the prospect of increased Iranian crude exports following "constructive" nuclear talks in Oman.
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Inflation expectations rise as Americans now anticipate 3.6% inflation over the next year (up from 3.1%), according to the NY Fed's Survey of Consumer Expectations, reaching levels not seen since October 2023.
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Fed's Waller warns of tariff impact calling the new policy "one of the biggest shocks to affect U.S. economy in decades" and projecting inflation could peak near 5% under the current 25% average tariff rate, potentially requiring earlier and deeper rate cuts if economic slowdown follows.
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Bessent to prioritize UK, Australia, South Korea for trade deals per WSJ.
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Dollar weakens to six-month low with the USDIDX down 8.29% year-to-date, heading for its largest annual decline since 2017 as traders position for further weakness amid trade policy uncertainty.
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Goldman Sachs reported strong Q1 earnings with a 15% jump in net profit, driven by record equities revenue as traders capitalized on market volatility.
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Chinese gold ETF inflows surge exceeding all of Q1's inflows in just eleven days of April (29.1 metric tons), surpassing US-listed fund inflows (27.8 tons) as gold hits record high of $3,245.42 per ounce.
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Nvidia announces major US manufacturing push committing to produce AI chips in Arizona and build supercomputers in Texas, planning to make up to half a trillion dollars of AI infrastructure domestically within four years.
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LVMH reports disappointing Q1 results with organic sales falling 3% to €20.31 billion against expectations of 2% growth, sending stock down as its key Fashion & Leather Goods segment declined 5%.
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Intel sells majority stake in Altera agreeing to divest 51% of its programmable chip business to Silver Lake for $4.46 billion, valuing Altera at $8.75 billion—nearly half what Intel paid in 2015—as new CEO Lip-Bu Tan works to streamline the struggling chipmaker.
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Cryptocurrencies gain on market optimism. Bitcoin rises 1.22% to $84,500, while Ethereum gains 3% and reaches $1,638.
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