- Despite initial gains, the US500 loses 0.5% at the end of the session. US100 and US2000 lose close to 1%.
- Declines in the US stock market began with the release of inflation expectations from the UoM report, followed by news of reciprocal tariffs from the US.
- Inflation expectations from the University of Michigan's consumer sentiment report showed increases to 4.3% from 3.3% a month earlier. This is the highest increase for the 1-year inflation outlook since 2008.
- Donald Trump announces potential reciprocal tariffs to affect countries that maintain a clause on U.S. products. Potentially this could include an increase in tariffs on European cars.
- However, as CNBC reports, reciprocal tariffs are not expected to be considered until next week. This information was confirmed by Trump during a speech today.
- Trump announces that he wants to close the trade deficit with Japan and does not rule out imposing tariffs on the country.
- The Financial Times, on the other hand, reports that Europe is to lower tariffs on cars in order to avoid a trade war with the US.
- Trump also announces that the US is in no rush to resolve the situation in the Middle East. On the other hand, he announces talks with Putin and possible negotiations with Xi.
- The NFP report shows a smaller increase in employment than expected at 143,000, but the previous reading was revised upward to 307,000.
- The unemployment rate fell to 4.0%, while the wage rate rose to 4.1%, showing that the labor market remains extremely strong.
- Gold reaches the $2880 per ounce level once again due to uncertainty, but then with Trump's comments there is a correction at the end of the day, bringing gold down near $2850 per ounce.
- WTI crude oil ends the week near the $70/barrel level due to the absence of concerns about the imposition of sanctions on Russia and the expectation of further supply growth this year (OPEC+ maintains its decision to start increasing production from April).
- Germany's industrial production falls 2.4% m/m, with expectations of a 0.7% m/m decline. Yesterday, orders from factories rose sharply, which may show that industrial production in Germany will rebound in the coming months.
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